SYSTEM AND METHOD FOR CREATING DIGITAL CURRENCY

• US 20080203150A1
• Filed: 05/02/2008
• Published: 08/28/2008
• Est. Priority Date: 04/07/2006
• Status: Abandoned Application

• Current Assignee: Charles Polanco, John Royce-Winston
• Original Assignee: Charles Polanco, John Royce-Winston
• Inventors: Royce-Winston, John, Polanco, Charles
• Application Number:
  US12/114,055
• Publication Number:
  US 20080203150A1
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/202 Depositing operations within ATMs depositing in general G07D11/00

Abstract

A method for creating digital currency has the steps of providing a server operably connected to the network; receiving into the server a transmission from one of the automated teller machines via the network that a sum of currency has been received into the currency scanner of the automated teller machine; creating an account automatically by the server in response to the receipt of the transmission; storing the sum of currency in digital form in the account; generating a unique alphanumeric code; associating the unique alphanumeric code with the account; and transmitting the unique alphanumeric code to a recipient.

Claims

1. A method for creating digital currency via a network that includes automated teller machines each having a currency scanner, the method comprising the steps of:

providing a server operably connected to the network;

receiving into the server a transmission from one of the automated teller machines via the network that a sum of currency has been received into the currency scanner of the automated teller machine;

creating an account automatically by the server in response to the receipt of the transmission;

storing the sum of currency in digital form in the account;

generating a unique alphanumeric code;

associating the unique alphanumeric code with the account; and

transmitting the unique alphanumeric code to a recipient.

2. The method of claim 1, further comprising the steps of:

receiving into the server a transmission from one of the automated teller machines that includes the unique alphanumeric code;

debiting the account by a sum of currency; and

transmitting instructions to the one of the automated teller machines to dispense the sum of currency.

3. The method of claim 2, further comprising the steps of:

receiving a confirmation from the one of the automated teller machines that the sum of currency was disbursed; and

closing the account.

4. The method of claim 1, wherein the step of transmitting the unique alphanumeric code to a recipient includes printing the unique alphanumeric code on a printer of the automated teller machine.

5. The method of claim 1, wherein the step of transmitting the unique alphanumeric code to a recipient includes transmitting the unique alphanumeric code via email through the network.

6. The method of claim 1, wherein the step of transmitting the unique alphanumeric code to a recipient includes transmitting the unique alphanumeric code via instant message through the network.

7. The method of claim 1, wherein the step of transmitting the unique alphanumeric code to a recipient includes transmitting the unique alphanumeric code via a text message through the network.

8. The method of claim 1, wherein the step of generating the unique alphanumeric code includes receiving the unique alphanumeric code from the recipient.

9. The method of claim 8, wherein the recipient enters the unique alphanumeric code via the data entry mechanism of the automated teller machine.

10. The method of claim 1, wherein the step of generating the unique alphanumeric code includes generating the unique alphanumeric code with a random number generator program on the computer-readable medium of the server.

11. A method for creating digital currency via a network that includes automated teller machines each having a currency scanner, the method comprising the steps of:

providing a server having a processor and a computer-readable medium;

installing a currency-receiving and code generating program on the computer-readable medium of the server;

connecting the server to the network;

receiving into the server a transmission from one of the automated teller machines via the network that a sum of currency has been received into the currency scanner of the automated teller machine;

creating an account automatically by the currency-receiving and code generating program of the server in response to the receipt of the transmission;

storing the sum of currency in digital form in the account;

generating a unique alphanumeric code;

associating the unique alphanumeric code with the account; and

transmitting the unique alphanumeric code to a recipient.

12. The method of claim 11, further comprising the steps of:

receiving into the server a transmission from one of the automated teller machines that includes the unique alphanumeric code;

debiting the account by a sum of currency; and

transmitting instructions to the one of the automated teller machines to dispense the sum of currency.

13. The method of claim 12, further comprising the steps of:

receiving a confirmation from the one of the automated teller machines that the sum of currency was disbursed; and

closing the account.

14. The method of claim 11, wherein the step of transmitting the unique alphanumeric code to the recipient includes printing the unique alphanumeric code on a printer of the automated teller machine.

15. The method of claim 11, wherein the step of transmitting the unique alphanumeric code to the recipient includes transmitting the unique alphanumeric code via email through the network.

16. The method of claim 11, wherein the step of transmitting the unique alphanumeric code to the recipient includes transmitting the unique alphanumeric code via instant message through the network.

17. The method of claim 11, wherein the step of transmitting the unique alphanumeric code to the recipient includes transmitting the unique alphanumeric code via a text message through the network.

18. The method of claim 11, wherein the step of generating the unique alphanumeric code includes receiving the unique alphanumeric code from the recipient.

19. The method of claim 18, therein the recipient enters the unique alphanumeric code via the data entry mechanism of the automated teller machine.

20. The method of claim 11, wherein the step of generating the unique alphanumeric code includes generating the unique alphanumeric code with a random number generator program on the computer-readable medium of the server.