# US 2014/0156497 A1 · Alternative value exchange systems and methods

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- Number: US 2014/0156497 A1
- Document ID: US20140156497A1
- Status: Published application
- Kind: A1
- Application number: 14/176,159
- Filed: 2014-02-10
- Published: 2014-06-05
- Earliest claimed: 2009-07-14
- Assignees: The Western Union Company
- Applicants: The Western Union Company
- Inventors: Evans Mehew; Gail Galuppo
- Web page: https://patentgrep.com/patent/US20140156497A1

## CPC

- G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
- G06Q 20/10: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
- G06Q 30/06: Buying, selling or leasing transactions
- G06Q 30/0601: Electronic shopping [e-shopping]
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR

## Abstract

This disclosure describes, generally, methods and systems for exchanging alternative currencies. The method includes creating, at an alternative currency platform, a plurality of user accounts and receiving, from a first user in the plurality of user accounts, an alternative currency exchange offer. The alternative currency exchange offer includes one or more offer terms and associated assets. Furthermore, the method includes extending the alternative currency exchange offer from the first user to the second user, in response to receiving acceptance of the offer from the second user, verifying the associated assets of the first user and the second user, and in response to verification of the assets of the first user and second user, providing settlement of the alternative currency exchange offer.

## Claims

### Claim 1

A method of exchanging alternative currencies, the method comprising:
creating, at an alternative currency platform, a plurality of user accounts;
receiving, from a first user in the plurality of user accounts, an alternative currency exchange offer, wherein the alternative currency exchange offer includes one or more offer terms and associated assets;
publishing the one or more users to the first user;
receiving a selection of a second user from the one or more users from the first user;
receiving, from the second user, a request to submit the alternative currency exchange offer to an assessor;
analyzing, by the assessor, the alternative currency exchange offer to determine a relative value of the offer by weighing the alternative currency exchange offer;
based on the analysis, generating a value score for the alternative currency exchange offer;
determining that the value score meets or exceeds a minimum threshold, wherein based on the value score a value ranking of the alternative currency exchange offer is made;
in response to determining that the value score meets or exceeds the minimum threshold, certifying, by the assessor, the offer as a valued offer and providing the first and second users with the value ranking;
in response to the assessor certifying the alternative currency exchange offer, extending the alternative currency exchange offer from the first user to the second user.

### Claim 2 (depends on 1)

The method of claim 1, further comprising:
in response to receiving acceptance of the offer from the second user, verifying the associated assets of the first user and the second user; and
in response to verification of the assets of the first user and second user, providing settlement of the alternative currency exchange offer.

### Claim 3 (depends on 2)

The method of claim 2, further comprising:
receiving, at the alternative currency platform, a request from the first user to transfer at least a portion of the virtual currency to a financial account of the first user;
in response to the request, determining a conversion of the at least a portion of the virtual currency to a cash value; and
transferring the cash value of the at least a portion of the virtual currency to the financial account.

### Claim 4 (depends on 1)

The method of exchanging alternative currencies as in claim 1, wherein the providing of the settlement of the alternative currency exchange offer comprises:
transferring the assets from the first user to the second user; and
transferring the assets from the second user to the first user.

### Claim 5 (depends on 2)

The method of exchanging alternative currencies as in claim 2, wherein the providing of the settlement of the alternative currency exchange offer further comprises holding one or more of the assets in escrow.

### Claim 6 (depends on 1)

The methods of claim 1, further comprising determining, at the alternative currency exchange platform, one or more users in the plurality of user accounts which are suitable users to enter into the alternative currency exchange offer based at least in part on the offer terms.

### Claim 7 (depends on 1)

The method of exchanging alternative currencies as in claim 1, wherein the associated assets include one or more of the following: virtual currency, loyalty points, loyalty rewards, services, virtual goods, and goods.

### Claim 8 (depends on 1)

The method of exchanging alternative currencies as in claim 1, further comprising in response to receiving a rejection of the offer from the second user, identifying at least one more additional user in the plurality of user accounts which are suitable users to enter into the alternative currency exchange offer based at least in part on the offer terms.

### Claim 9 (depends on 1)

The method of exchanging alternative currencies as in claim 1, wherein the alternative currency exchange offer is carried out within one or more of the following types of virtual environments: social networking, on-line gaming, and virtual store.

### Claim 10 (depends on 1)

The method of exchanging alternative currencies as in claim 1, wherein in response to extending the alternative currency exchange offer from the first user to the second user, receiving a counter-offer from the second user modifying one or more of the offer terms and/or associated assets.

### Claim 11

An alternative currency platform, the platform comprising:
one or more processors configured to execute instructions stored on a memory device, the instructions including:
creating a plurality of user accounts;
receiving, from a first user in the plurality of user accounts, an alternative currency exchange offer, wherein the alternative currency exchange offer includes one or more offer terms and associated assets;
publishing the one or more users to the first user;
receiving a selection of a second user from the one or more users from the first user;
receiving, from the second user, a request to submit the alternative currency exchange offer to an assessor;
analyzing, by the assessor, the alternative currency exchange offer to determine a relative value of the offer by weighing the alternative currency exchange offer;
based on the analysis, generating a value score for the alternative currency exchange offer;
determining that the value score meets or exceeds a minimum threshold, wherein based on the value score a value ranking of the alternative currency exchange offer is made;
in response to determining that the value score meets or exceeds the minimum threshold, certifying, by the assessor, the offer as a valued offer and providing the first and second users with the value ranking;
in response to the assessor certifying the alternative currency exchange offer, extending the alternative currency exchange offer from the first user to the second user.

### Claim 12 (depends on 11)

The alternative currency platform as in claim 11, further comprising a web interface configured to receive selections regarding the offer and to display information about the offer.

### Claim 13

A non-transitory computer-readable medium for exchanging alternative currencies, having sets of instructions stored thereon which, when executed by a computer, cause the computer to:
create, at an alternative currency platform, a plurality of user accounts;
receive, from a first user in the plurality of user accounts, an alternative currency exchange offer, wherein the alternative currency exchange offer includes one or more offer terms and associated assets;
publish the one or more users to the first user;
receive a selection of a second user from the one or more users from the first user;
receive, from the second user, a request to submit the alternative currency exchange offer to an assessor;
analyze, by the assessor, the alternative currency exchange offer to determine a relative value of the offer by weighing the alternative currency exchange offer;
based on the analysis, generate a value score for the alternative currency exchange offer;
determine that the value score meets or exceeds a minimum threshold, wherein based on the value score a value ranking of the alternative currency exchange offer is made;
in response to determining that the value score meets or exceeds the minimum threshold, certify, by the assessor, the offer as a valued offer and providing the first and second users with the value ranking;
in response to the assessor certifying the alternative currency exchange offer, extend the alternative currency exchange offer from the first user to the second user.

### Claim 14 (depends on 13)

The non-transitory computer-readable medium for exchanging alternative currencies as in claim 13, wherein the sets of instructions when further executed by the computer, cause the computer to, receive, authenticate, and store a scrip value in one of the plurality of user accounts, wherein the scrip includes an associated issuing body.

### Claim 15 (depends on 14)

The non-transitory computer-readable medium for exchanging alternative currencies as in claim 14, wherein the sets of instructions when further executed by the computer, cause the computer to, in response to receiving and storing the scrip value in one of the plurality, destroy the associated scrip.

### Claim 16 (depends on 15)

The non-transitory computer-readable medium for exchanging alternative currencies as in claim 15, wherein the sets of instructions when further executed by the computer, cause the computer to, notify the associated issuing body of the destruction of the scrip.

### Claim 17 (depends on 13)

The non-transitory computer-readable medium for exchanging alternative currencies as in claim 13, wherein the sets of instructions when further executed by the computer, cause the computer to receive, at the alternative currency platform, a request from the first user to transfer the cash value from the financial account of the first user to virtual currency within the alternative currency platform.

### Claim 18 (depends on 13)

The non-transitory computer-readable medium for exchanging alternative currencies as in claim 13, wherein the sets of instructions when further executed by the computer, cause the computer to:
in response to receiving acceptance of the offer from the second user, verify the associated assets of the first user and the second user; and
in response to verification of the assets of the first user and second user, provide settlement of the alternative currency exchange offer.

### Claim 19 (depends on 18)

The non-transitory computer-readable medium for exchanging alternative currencies as in claim 18, wherein the sets of instructions when further executed by the computer, cause the computer to:
receive, at the alternative currency platform, a request from the first user to transfer at least a portion of the virtual currency to a financial account of the first user;
in response to the request, determine a conversion of the at least a portion of the virtual currency to a cash value; and
transfer the cash value of the at least a portion of the virtual currency to the financial account.

### Claim 20 (depends on 13)

The non-transitory computer-readable medium for exchanging alternative currencies as in claim 13, wherein the sets of instructions when further executed by the computer, cause the computer to: determine, at the alternative currency exchange platform, one or more users in the plurality of user accounts which are suitable users to enter into the alternative currency exchange offer based at least in part on the offer terms.