Systems and methods for a private sector monetary authority
AssigneeFulcrum IP Corporation
InventorDouglas Jackson
Life of this patent
Estimating the term…
Abstract
Embodiments of the present invention may provide systems and methods for administering a private sector Monetary Authority. The systems and methods may include providing access to End Users; and enabling performance of specialized Roles required for the administration of the system. The systems and methods may be self-contained for creation, holding, circulation and retirement of the Base Money such that outside money or value cannot be transmitted into or out of the system.
Claims20
A system for administering a closed alternative currency, the system comprising:
- at least one processor and at least one memory, wherein the at least one processors perform the following steps:
- providing access to one or more currency issuer users;
- receiving requests for one or more issuance transactions with at least one of the one or more currency issuer users to issue or de-issue a quantity of a base money, wherein the base money is commodity-based and 100% reserved, and wherein the base money must come only from an account that already possesses adequate base money;
- authenticating the one or more issuance transactions;
- authorizing the one or more issuance transactions, if authenticated;
- providing access to a plurality of account owner users;
- receiving requests from one or more account owner users to add a quantity of base money to an end user account;
- authenticating the request to add a quantity of base money;
- authorizing the request to add a quantity of base money, if authenticated;
- receiving requests from one or more account owner users to remove a quantity of base money to an end user account;
- authenticating the request to remove a quantity of base money;
- authorizing the request to remove a quantity of base money, if authenticated;
- receiving requests for one or more payment transactions between account owner users in a base money;
- authenticating the one or more payment transactions;
- authorizing the one or more payment transactions if authenticated;
- wherein the system is a closed system where base money cannot leave and outside money cannot enter.
An alternative currency payment system, the system comprising:
- at least one processor and at least one memory, wherein the at least one processors perform the following steps:
- providing a settlement platform for managing one or more accounts;
- receiving one or more requests from a user to make or receive a spend instruction in a quantity of base money, wherein the base money is commodity-based and 100% reserved, and wherein the base money must come only from an account that already possesses adequate base money;
- analyzing acceptability of potential spend instructions;
- authenticating a spend instruction by determining if the spend instruction conforms to rules of the system.
An alternative currency issuance system, the system comprising:
- at least one processor and at least one memory, wherein the at least one processors perform the following steps:
- providing an issuance platform for managing one or more accounts;
- receiving a bailment of a physical commodity to an allocated storage holding;
- sending a notification of the bailment to an issuing user;
- an issuer spend is made from a mint account to a comptroller account;
- a distribution spend is made to an account of a primary dealer receiving the bailment.
Dependencies are inferred from the claim text.