Localized smart contract banking system and method

A localized smart contract banking system comprising:

• a cloud management hub to administer a smart contract redemption process, the cloud management hub comprising:
• a management server;
• and
• a database;
• an in-store banking server, the in-store banking server comprising a coin and paper money collection unit to collect and store coins and paper currency, the coin and paper money collection unit to convert the coins and the paper currency into cryptographically unique tokens;
• a plurality of local banking hubs located at a plurality of individual merchant facilities comprising:
• a private wireless network implemented by the in-store banking server for providing communication between the plurality of local banking hubs located at neighboring merchant facilities within a range of the private wireless network;
• a local network gateway device installed within the plurality of local banking hubs, wherein the local network gateway device allows the cloud management hub to communicate with a subset of the plurality of local banking hubs over a wide area network;
• and
• a point-of-sale terminal;
• one or more smart contracts, the one or more smart contracts are generated by each of the plurality of local banking hubs, the one or more smart contracts has a smart contract file comprising:
• a header section;
• a key section, the key section includes a public key and a private key pair;
• and a ledger section, the ledger section comprises a hash table populated by ledger entries defining previous individual transactions of the smart contract file, the one or more smart contracts to securely extract value in a multi-phase value chain, where, in an offline mode, interactions, settlement activities and value extraction are done as rewards points and an affinity-based value exchange for a private network and where, in an online mode, synchronous events occur, updates to the ledger section of the smart contract file are made, and value is moved to be made fungible in an open-loop manner;
• one or more mobile devices are in communication with one or more individual disparate local banking hubs of the plurality of local banking hubs, each of the plurality of local banking hubs and the point-of-sale terminal communicate directly with the mobile device via the private wireless network, the point-of-sale terminal to validate a type of the one or more mobile devices using the public key and the private key pair retrieved from the key section of the smart contract file;
• a master key-certificate, the master key-certificate, via the in-store banking server, to embed and pre-position the cryptographically unique tokens within the smart contract file stored locally on the one or more mobile devices;
• a global positioning unit to generate a location based geo-stamp that is securely integrated into the header section of the smart contract file, wherein the location based geo-stamp allows the smart contract file to restrict or grant approval as to where a transaction of the individual transactions based on geo-parameters is permitted to occur, what devices the smart contract file is permitted to interact with, and to whom and from whom value may be transferred relative to location and time;
• wherein the global positioning unit generates a GPS key pair into the key section of the smart contract file;
• a mobile device of the one or more mobile devices comprising:
• a wireless network interface allowing the mobile device to communicate with the one or more individual disparate local banking hubs of the plurality of local banking hubs through the cloud management hub;
• a wireless cellular interface allowing the mobile device to communicate with the cloud management hub asynchronously or in both online and offline modes;
• and a banking application to manage bidirectional identification information of a customer, the banking application to receive the individual transactions of the smart contract file from the point-of-sale terminal, the banking application to process the individual transactions, the banking application to transmit and receive the identification information to the cloud management hub utilizing encryption methods, and
• wherein the mobile device locally copies, stores, and relays the smart contract file associated with a specific banking hub of the plurality of local banking hubs and a specific transaction event and used as a programmatic method to purchase the goods and the services or extract value from the plurality of individual merchant facilities in a closed loop manner;
• wherein the mobile device operates in an offline mode in which the mobile device is not actively connected to the network or the cloud management hub and stores data locally and performs operations independently without an active connection to the cloud management hub;
• and
• wherein the mobile device provides the smart contract file containing the key section including public and private key pairs, and wherein the point-of-sale terminal validates the mobile device using the public and private key pairs retrieved from the key section of the smart contract file;
• a management server to compare the identification information against smart contract accounts stored in the database;
• wherein the management server transmits an acknowledgment notification and a login prompt to the mobile device if the identification information is validated against an existing account of the smart contract accounts;
• wherein the management server generates and transmits a suspect activity report to an authority if the identification information is not validated against the smart contract accounts;
• wherein the cloud management hub comprises a key table used to identify which digital currency account is currently being used and to identify customer engagements with previous multimedia advertising events;
• wherein, upon transmission of transaction details by the mobile device to the cloud management hub via the cellular communication network of the mobile device, a multimedia-advertising event is delivered from the cloud management hub to the mobile device via either the in-store banking server or the cellular communication network;
• wherein once the digital currency account is identified using the key table, an interactive history with previous multimedia advertising events is accessed and a demographic understanding of this history is used to provide unique, discrete, and interactive multimedia advertising events to the mobile device;
• wherein the multimedia advertising event, a coupon, or a voucher interacts with a user pausing, tagging, or labeling a product, swiping right or left to indicate interest or disinterest, or by clicking, shaking, holding, or tapping one or more buttons on the mobile device to indicate relevance or irrelevance;
• wherein interaction data is saved and compartmentalized for each smart contract account and used to generate increasingly targeted and unique multimedia advertising events;
• and
• wherein the interactive advertising process is cyclical in nature and allows users of the in-store banking server and embedded applications to curate their own advertisements through continued participation, thereby modifying the multimedia advertising events for each individual user.