Systems And Methods For A Private Sector Monetary Authority

  • Published: Sep 18, 2014
  • Earliest Priority: Mar 15 2013
  • Family: 6
  • Cited Works: 0
  • Cited by: 0
  • Cites: 0
  • Additional Info: Full text
Abstract

Systems and methods are provided for a payment system for use with base money of one or more alternative currencies. Steps may include administering accounts, each of which belongs to one or more account owners; receiving spend instructions specifying an account-to-account transfer of a quantity of base money from a paying account to a recipient account; receiving spend authorizations for the spend instructions from system users with requisite privileges for the paying account; and executing the authorized spend instruction if they conform to all applicable system rules by crediting the paying account and debiting the recipient account in an atomic transaction that executes in its entirety or not at all. At least one of the one or more alternative currencies may be based on at least one commodity and may be continuously backed by a 100% reserve of the at least one commodity.


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Document History
  • Publication: Sep 18, 2014
  • Application: Mar 14, 2014
    WO US 2014/0027797 W
  • Priority: Aug 28, 2013
    US US 201314012704 A
  • Priority: Mar 18, 2013
    US US 201361802880 P
  • Priority: Mar 15, 2013
    US US 201361799053 P

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