Systems and methods for electronically circulating a conditional electronic currency
AssigneeCapitalWill LLC
InventorBradley Wilkes
Life of this patent
Estimating the term…
Abstract
Persistent, electronically anchored currency notes (PEAC notes) may be generated by a transaction provider and maintained in a datastore. Each PEAC note may be associated with a respective unique identifier and asset held by a custodian. The transaction provider may provide for assigning ownership of the PEAC notes to various entities and/or transferring ownership therebetween. Ownership transfers may be performed by the transaction provider while maintaining the PEAC notes in the datastore and/or maintaining the asset(s) associated therewith their respective custodian(s). A PEAC note may be tied to one or more usage conditions, which restrict transfers thereof. The usage conditions may be removed when release conditions are satisfied.
Claims22
An apparatus for electronically circulating a currency, comprising:
- a computing device comprising a processor and a computer-readable storage medium, the computing device comprising a communication interface communicatively coupled to a network;
- a transaction provider operating on a processor of the computing device, wherein the transaction provider is configured to generate a plurality of persistent, electronically anchored currency notes (PEAC notes), each PEAC note being assigned a respective unique identifier (UCNID) and a respective value, wherein each PEAC note is associated with an asset held by a custodian;
- wherein the transaction provider associates a usage condition with a first one of the PEAC notes;
- and
- wherein the transaction provider is configured to transfer ownership of the first PEAC note from a first entity to a second entity when the usage condition of the first PEAC note is satisfied, and wherein ownership is transferred while maintaining the asset associated with the PEAC note with the custodian, and maintaining the PEAC note with the transaction provider.
A non-transitory computer-readable storage medium comprising instructions to cause a computing device to perform a method for electronically circulating a currency, the method comprising:
- generating a plurality of persistent, electronically anchored currency notes (PEAC notes), each PEAC note comprising a respective unique currency note identifier (UCNID) and a value, and being associated with an asset held by a custodian;
- storing each of the generated PEAC notes in a datastore;
- associating a usage condition with a first one of the PEAC notes;
- assigning ownership of the first one of the PEAC notes to a first entity;
- receiving a request to transfer ownership of the first PEAC note from the first entity to a second entity;
- verifying that the request was authorized by the first entity;
- verifying that the transfer satisfies the usage condition of the first PEAC note;
- and
- transferring ownership of the first PEAC note to the second entity while maintaining the first PEAC note in the datastore and maintaining the asset associated with the first PEAC note with the custodian in response to verifying that the request was authorized by the first entity and that the transfer satisfies the usage condition of the first PEAC note.
A method for electronically circulating a currency, the method comprising:
- generating by a processor of the computing device, a plurality of persistent, electronically anchored currency notes (PEAC notes), each PEAC note comprising a respective unique currency note identifier (UCNID) and a value, and wherein each PEAC note is associated with a respective asset held by a custodian;
- storing each of the generated PEAC notes in a datastore;
- associating a usage condition with a first one of the PEAC notes;
- assigning ownership of the first one of the PEAC notes to a first entity;
- receiving a request to transfer ownership of the first PEAC note from the first entity to a second entity;
- verifying that the request was authorized by the first entity;
- verifying that the transfer satisfies the usage condition of the first PEAC note;
- and
- transferring ownership of the first PEAC note to the second entity while maintaining the first PEAC note in the datastore and maintaining the asset associated with the first PEAC note with the custodian in response to verifying that the request was authorized by the first entity and that the transfer satisfies the usage condition of the first PEAC note.
Dependencies are inferred from the claim text.