Title:
SYSTEMS AND METHODS FOR A PRIVATE SECTOR MONETARY AUTHORITY
Document Type and Number:
WIPO Patent Application WO/2014/143720
Kind Code:
A3
Abstract:
Systems and methods are provided for a payment system for use with base money of one or more alternative currencies. Steps may include administering accounts, each of which belongs to one or more account owners; receiving spend instructions specifying an account-to-account transfer of a quantity of base money from a paying account to a recipient account; receiving spend authorizations for the spend instructions from system users with requisite privileges for the paying account; and executing the authorized spend instruction if they conform to all applicable system rules by crediting the paying account and debiting the recipient account in an atomic transaction that executes in its entirety or not at all. At least one of the one or more alternative currencies may be based on at least one commodity and may be continuously backed by a 100% reserve of the at least one commodity.
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Inventors:
JACKSON DOUGLAS (US)
Application Number:
PCT/US2014/027797
Publication Date:
December 31, 2014
Filing Date:
March 14, 2014
Export Citation:
Assignee:
FULCRUM IP CORP (US)
International Classes:
G06Q20/38
Foreign References:
| US20080208725A1 | 2008-08-28 | |||
| US20110112951A1 | 2011-05-12 | |||
| US20080235064A1 | 2008-09-25 | |||
| US20020174065A1 | 2002-11-21 | |||
| US20110016009A1 | 2011-01-20 | |||
| US20080046360A1 | 2008-02-21 |
Attorney, Agent or Firm:
LASKOSKI, Matthew et al. (Bromberg & Newman P.C.1200 New Hampshire Ave., NW,Suite 71, Washington DC, US)
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