Combination currency/barter system

• US 20030088497A1
• Filed: 11/02/2001
• Published: 05/08/2003
• Est. Priority Date: 11/02/2001
• Status: Abandoned Application

• Current Assignee: Zolidus Incorporated
• Original Assignee: Zolidus Incorporated
• Inventors: Belgrano, Eduardo J.
• Application Number:
  US10/004,243
• Publication Number:
  US 20030088497A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Conventional product exchange systems, where products can include both goods and services, include currency systems, and barter systems. The present invention combines barter systems and currency systems, allowing participants to exchange goods and services with the goods and services of others in the network. The network is a closed market, with participants offering goods and services with defined values in “trade dollars.” After a designated time period, each barter transaction made by a participant with another participant in the network is settled. Where there are both purchases and sales, the amount that is equal is referred to as the “offset.” The unequal amount is referred to as a balance, either positive or negative. If a participant'"'"'s balance is positive, reflecting that particular participant has provided more value in goods and services than the participant has received, the participant is paid an amount of currency equal to the balance, less a fee. If the balance is negative, reflecting that the participant received more value in goods or services than the participant provided, the participant is debited for an amount equal to the negative balance.

Claims

1. A currency/barter system for use in the exchange of products, said system comprising:

a database for storing qualified transaction data of said system;

an input means for receiving qualified transaction data reflecting qualified transactions made by a participant;

a recording means for storing said qualified transaction data in said database;

calculation means for determining a balance on said participant'"'"'s qualified transactions during a designated time period, said calculation means carry out the operations for each participant of;

a) obtaining value of each qualified transaction;

b) calculating a sum of the values of all of said qualified transactions;

c) a balance being equal to said sum;

d) crediting said participant if said balance is positive; and

e) debiting said participant if said balance is negative.

2. The system of claim 1, wherein:

said qualified transactions are made by bartered goods/services;

said goods/services have a defined value;

said defined value is positive if said participant provides said goods/services;

said defined value is negative if said participant obtains said goods/services; and

said qualified transaction value being equal to said defined value.

3. The system of claim 1, wherein:

if said balance is negative, said credit institution finances said participant for an amount equal to said negative balance.

4. The system of claim 1, wherein:

said first participant is paid a refund amount if said balance is positive.

5. The system of claim 1, wherein:

said participant is one of a network of participants.

6. A currency/barter system for use in the exchange of products, said system comprising:

a first qualified transaction, wherein said first qualified transaction is a first participant and a second participant making said exchange of products;

a second qualified transaction, wherein said second qualified transaction is said first participant and a third participant making said exchange of products;

a database for storing qualified transaction data of said first and second qualified transactions;

an input means for receiving qualified transaction data;

a recording means for storing said qualified transaction data in said database;

calculation means for determining a balance on said first participant'"'"'s first and second qualified transactions during a designated time period;

paying to said first participant a refund amount if said balance is positive.

7. A method in a computer system for controlling a currency/barter system for use in the exchange of products, the method comprising:

receiving qualified transaction data, wherein said qualified transaction data regards said exchange of products between a first participant and a second participant, and said first participant and said second participant are members of said currency/barter system;

storing said qualified transaction data in a database;

analyzing said qualified transaction data using a calculation means to determine a balance of said first participant'"'"'s qualified transactions during a designated time period, wherein said balance is equal to the difference of said first participant'"'"'s qualified transaction sales less said first participant'"'"'s qualified transaction purchases;

calculating a refund amount if said balance is positive; and

outputting said refund amount.

8. In article of manufacture comprising:

A computer useable medium have computer readable program code means embodied therein for controlling a currency/barter system for use in the exchange of products, said computer readable program code means in said article of manufacture comprising;

computer readable program code means for causing receiving qualified transaction data;

computer readable program code means for causing storing said qualified transaction data in a database;

computer readable program code means for causing analyzing said qualified transaction data using a calculation means to determine a balance of a first participant'"'"'s qualified transactions during a designated time period;

computer readable program code means for calculating a refund amount if said balance is positive; and

computer readable program code means for causing outputting said refund amount.

9. A method of facilitating commercial transactions over a computer network comprising the steps of:

receiving qualified transaction data, wherein said qualified transaction data regards an exchange of products between a first participant and a second participant, and said first participant and said second participant are members of a currency/barter system;

storing said qualified transaction data in a database;

analyzing said qualified transaction data using a calculation means to determine a balance of said first participant'"'"'s qualified transactions during a designated time period, wherein said balance is equal to the difference of said first participant'"'"'s qualified transaction sales less said first participant'"'"'s qualified transaction purchases;

calculating a refund amount if said balance is positive; and

outputting said refund amount