Un currency (virtual payment cards) issued by central bank or other issuer for mobile and wearable devices

A system for digital currency transfers via a mobile and wearable device, the system comprising:

• a processor configured to:
• receive over a data network, from the mobile and wearable device of a user, a transfer request, wherein the transfer request includes a transfer amount in digital currency and user identification data associated with the user;
• in response to the transfer request, retrieve, from a storage unit, payment data of the user associated with the identification data;
• based on the retrieving and the transfer amount, generate an optical code encoding the payment data and the transfer amount;
• provide the optical code on a screen of the mobile and wearable device, wherein, on scanning of the optical code, a transfer receiving request is created;
• receive a transfer receiving request to perform a payment transaction associated with the user, the transfer receiving request including at least the payment data, the transfer amount, and recipient identification data associated with a recipient;
• based on the transfer receiving request, access a user account maintained by a currency issuance unit;
• transfer the transfer amount in the digital currency to a recipient account associated with the recipient identification data;
• a currency issuance unit connected over the data network to and remotely located from the processor, the recipient, and the mobile and wearable device operable to:
• based on the payment data associated with the user and the user identification data, generate the digital currency, the digital currency having a deposit amount, the deposit amount being at least equal to the transfer amount requested by the user in the transfer request;
• and
• provide the digital currency to the user account;
• and
• a storage unit operable to store at least the user identification information, the payment data of the user, the digital currency, the recipient identification data, wherein the processor, the mobile and wearable device, the currency issuance unit, and the storage unit are remotely located from each other and are in operable connection over the data network;
• wherein the mobile and wearable device is associated with a cloud-based application running on the mobile and wearable device, wherein the cloud-based application resides in a cloud network and is provided on the mobile and wearable device via one or more of the following:
• a web browser, a graphical user interface, a projector, a hologram, an augmented reality (AR) device;
• a virtual reality (VR) device;
• wherein the cloud-based application is provided for purchasing in one or more applications stores, the one or more applications stores being associated with an operating system running on the mobile and wearable device, the operating system including one of the following:
• Microsoft Windows, Linux, Android, Blackberry, iOS, and Windows Phone;
• wherein the cloud-based application is provided free of charge or at a predetermined price;
• wherein the cloud-based application includes at least a bank account emulation (BAE) client, the BAE client is configured to provide emulation of a bank account to combine with cloud computing and provide an emulated digital currency, wherein the digital currency provided to the user account by the currency issuance unit includes the emulated digital currency, wherein the digital currency is valid on the user account for a predetermined amount of time for the transferring of the transfer amount in the digital currency to the recipient account, wherein the bank account is emulated based on metadata associated with the user, a phone number associated with the user, and data associated with a point-of-sale (POS) terminal of the merchant, wherein the BAE client is configured to provide a virtual representation of an emulated bank account;
• wherein the operating system associated with the mobile and wearable device is configured to run the BAE client, provide two communication paths for NFC commands from the POS terminal based on an application identifier (AID) associated with the BAE client;
• wherein the operating system is configured to use the AID to route the NFC commands to the cloud-based application managing the emulation of the bank account;
• wherein when the user presents the emulated digital currency for transaction, an NFC command is routed to the BAE client for verification of the NFC commands by the cloud-based application managing the emulation of the bank account;
• wherein the cloud-based application is configured to connect to a backend associated with the currency issuance unit to complete the transaction;
• wherein the cloud-based application is associated with a trusted tokenization node, the trusted tokenization node being a shared resource used to generate and de-tokenize tokens representing data associated with the digital currency at the backend associated with the issuance unit;
• wherein the BAE client provides multi-level security by providing limited use keys, tokenization, device biometric recognition, and dynamic risk analysis, wherein the limited use keys are derived from a master domain key shared by the issuance unit, wherein a use of the limited use keys is associated with time to live of the limited use keys and a number of transactions to be performed using the limited use keys, wherein the device biometric recognition is based on fingerprints profiles or face profiles associated with the mobile and wearable device and are used to determine that transactions are initiated only by an authorized mobile and wearable device at recognized locations of the POS terminal;
• and
• wherein the digital currency includes a universal currency (UN currency) used in one or more of the following:
• a plurality of countries, a plurality of geographic regions, and one or more currency unions.