Electronic-monetary system
AssigneeCitibank, N.A.
InventorSholom S. Rosen
Life of this patent
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AssigneeCitibank, N.A.
InventorSholom S. Rosen
Estimating the term…
An improved monetary system using electronic media to exchange economic value securely and reliably. The invention provides a complete monetary system having electronic money that is interchangeable with conventional paper money comprising (1) issuing banks or financial institutions that are coupled to a money generator device for generating and issuing to subscribing customers electronic money including electronic currency backed by demand deposits, or electronic credit authorizations; (2) correspondent banks that accept and distribute the electronic money; (3) a plurality of transaction devices that are used by subscribers for storing electronic money, for performing money transactions with the on-line systems of the participating banks or for exchanging electronic money with other like transaction devices; (4) teller devices, associated with the issuing and correspondent banks, for process handling and interfacing the transaction devices to the issuing and correspondent banks, and for interfacing between the issuing and correspondent banks themselves; (5) a security arrangement for maintaining the integrity of the system; and (6) reconciliation and clearing processes to monitor and balance the monetary system.
An electronic monetary system comprising:
An electronic monetary system comprising:
An electronic monetary system comprising:
An electronic monetary system comprising:
An electronic monetary system comprising:
An electronic monetary system comprising:
An electronic monetary system comprising:
An electronic monetary system comprising:
An electronic monetary system comprising:
A method for a transaction module having a time-limited certificate to update said certificate through interaction with a security server comprising the steps of:
A method for a subscriber using a transaction module to perform a withdrawal from said subscriber's bank account at an issuing bank having a teller module, a money generator module, and an on-line accounting system, comprising the steps of:
A method for a subscriber using a transaction module to withdraw an electronic representation of money from a correspondent bank, comprising the steps of:
A method for a subscriber using a transaction module to perform a deposit to said subscriber's bank account at an issuing bank having a teller module, a money generator module, and an on-line accounting system, comprising the steps of:
A method for a subscriber using a transaction module to deposit electronic representations of money at a correspondent bank, comprising the steps of:
A method for a subscriber payment using a first transaction module to transfer an electronic representation of money to a second transaction module:
A payment method using a first money module to transfer an electronic representation of money to a second money module, comprising the steps of:
A method for a subscriber to exchange an electronic representation of a first foreign currency stored in a first transaction module for an electronic representation of a second foreign currency stored in a second transaction module, comprising the steps of:
A method for a subscriber to exchange an electronic representation of first foreign currency stored in a transaction module for an electronic representation of second foreign currency from an issuing bank having a money generator capable of generating said electronic representation of second foreign currency, a teller module, and an on-line accounting system, comprising the steps of:
A method for a subscriber to exchange an electronic representation of first foreign currency stored in a transaction module for an electronic representation of second foreign currency from an issuing bank having a money generator module capable of generating said electronic representation of second foreign currency, a second teller module, a second on-line accounting system, received via a correspondent bank having a first teller module and a first on-line accounting system, comprising the steps of:
A method for updating an electronic representation of currency having an expiration date and stored in a transaction module with an updated electronic representation of currency, comprising the steps of:
A system for transferring electronic notes between processor-based electronic modules comprising:
Dependencies are inferred from the claim text.