An exchange system for intangible goods comprises a first user system, a second user system, a registry system, a clearinghouse system and a hash module coupled for communication with each other. The first and second user systems includes a content module for acting as a repository for intangible goods, a pricing module for setting the price of intangible goods, a transaction generator module for creating transactions between seller and buyer, and a transaction log module for recording any transaction in which the user system participates. These systems are used to consummate transactions with other users for exchanging intangible goods. As part of each transaction, the user and the transaction must be entered or registered in the registry system. The registry system comprises an account module and a transaction log module for maintaining the anonymity of the sellers and buyers. The hash module is used by the other modules to generate unique hash codes that are used to access transactions and to validate users. The clearinghouse system includes an account module, an audit module, and a transaction log module for clearing and posting transactions once they have been verified between two users.