Systems and methods for a private sector monetary authority

An access and administration system for a payment system for use with base money of one or more alternative currencies, the system comprising:

• at least one processor and at least one memory, wherein the at least one processor is adapted to perform one or more of the following steps:
• promulgating terms of access and use of all system resources;
• credentialing one or more system participants to perform one or more of the specialized roles of issuer, primary dealer, or exchange provider;
• granting to properly credentialed system participants sets of privileges necessary to perform one or more of the specialized roles of issuer, primary dealer, exchange provider, or depository institution;
• assisting in the provisioning of accounts for the one or more specialized roles of issuer, primary dealer, exchange provider, or depository institution;
• and
• receiving significations of acceptance of terms of access and use from prospective participants, or system privileges tendered at a request or instruction of a system provider or other system participant;
• wherein at least one of the one or more alternative currencies are based on at least one commodity and are continuously backed by a 100% reserve of the at least one commodity.

An administration system to enable an issuer to administer base money of one or more alternative currencies, the system comprising:

• at least one processor and at least one memory, wherein the at least one processor is adapted to perform one or more of the following steps:
• promulgating a declaration of liability defining the nature of an issuer's monetary liabilities;
• providing an interface to one or more primary dealers enabling the one or more primary dealers to initiate and conduct open market operations;
• receiving notifications from the one or more primary dealers detailing that primary dealer's intentions to initiate particular open market operation transactions;
• receiving instructions from primary dealers for distribution of newly issued quantities of base money, or release and delivery of commodities in fulfillment of obligations resulting from the corresponding open market operations;
• receiving notifications from external sources specifying details of assets received, held or released;
• evaluating notifications from the external sources to determine if such notifications are authentic;
• fulfilling obligations that result from open market operations;
• and
• assuring, by contracts, internal controls and other business processes that any and all base money issued is continuously backed by a 100% reserve of the corresponding commodity held in bailment in allocated storage for the sole purpose of serving as such reserves and that such commodity holdings is not hypothecated or subject to lien or other encumbrance.