System And Method For Distributed Money Supply

  • Published: Sep 15, 2016
  • Earliest Priority: Mar 13 2015
  • Family: 1
  • Cited Works: 0
  • Cited by: 0
  • Cites: 5
  • Additional Info: Full text
Abstract

The present invention provides in at least one embodiment, a payment system with a method for distributed money supply. The system is implemented in a web environment where users interact with each other and a central authority with data processing devices through a network. Mediums of exchange in the system are public and private currency units. Public currency units are created by the operator of the system—a central authority while private currency units are created on the initiative of the users where each user is entitled to request the creation of his own currency. Currencies and currency units are managed by a server coupled to a database. The database stores data for every user and every currency. Currency data is stored in separated pieces of memory in the database—accounts. The server operates the currency issuance, transaction and redemption through the management of the currency accounts in the database on request of the users.


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Document History
  • Publication: Sep 15, 2016
  • Application: Mar 13, 2015
    US US 201514656724 A
  • Priority: Mar 13, 2015
    US US 201514656724 A

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