CURRENCY SYSTEM TO REWARD CONSTRUCTIVE BEHAVIOR

• US 20080235121A1
• Filed: 03/19/2007
• Published: 09/25/2008
• Est. Priority Date: 03/19/2007
• Status: Active Grant

• Current Assignee: R2 Solutions LLC (Acacia Research Corporation)
• Original Assignee: Yahoo! Inc. (Apollo Global Management, Inc.)
• Inventors: Gonen, Rica
• Granted Patent: US 8,412,608 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A system is described for teaching users financial management using an online currency management system, including enabling an administrator to set up a financial account through a network. This step further includes assigning specific tasks for completion by one or more users, setting rules related to the management of play currency, and designating rewards that are earned by the one or more users through completion of the specific tasks. The system further includes providing a web-based interface for the one or more users to access and manage their own user account containing the play currency, and enabling the administrator to fund, with real currency, the purchase of the rewards by the one or more users with play currency.

Claims

1. A method for teaching users financial management using an online currency management system, comprising:

enabling an administrator to set up, through a web-based interface to a network, a financial account comprising;

assigning specific tasks for completion by one or more users;

setting rules related to the management of a play currency; and

designating rewards that are earned by the one or more users through completion of the specific tasks;

providing a user web-based interface for the one or more users to access and manage a user account containing the play currency; and

enabling the administrator to fund through the web-based interface, with real currency, the purchase of the rewards by the one or more users with play currency.

2. The method of claim 1, wherein enabling the administrator to set up a financial account comprises enabling the administrator to:

set a quantity of play currency associated with each specific task;

associate a value in terms of play currency with each reward; and

inform the one or more users, in terms of play currency, the quantity associated with each task and the value associated with each reward.

3. The method of claim 1, wherein the administrator comprises a parent or guardian, and the one or more users comprise children.

4. The method of claim 1, wherein providing a web-based user interface comprises enabling a user to check his or her balance of play currency, and to directly purchase pre-approved awards from an online retailer.

5. The method of claim 1, further comprising:

enabling the administrator and the one or more users to transfer the play currency to the administrator and the one or more users; and

enabling the administrator to approve or disapprove the transfer of play currency by a user.

6. The method of claim 1, wherein assigning specific tasks includes assigning chores to the one or more users and providing a web-based user interface that comprises:

enabling a user to indicate when a task is completed to initiate payment of play currency into the user account; and

enabling a user to trade tasks and chores with other users.

7. The method of claim 6, wherein setting rules related to the management of play currency comprises enabling the administrator to accept play currency in exchange for a user not having to execute a chore, or in exchange for another privilege.

8. The method of claim 1, wherein setting rules related to the management of play currency comprises enabling a user to auction tasks among a plurality chosen from the group consisting of an administrator and other users, the method further comprising:

enabling at least one of the administrator and the other users to bid on the tasks, wherein a highest bidder is transferred the task for completion.

9. The method of claim 1, wherein setting rules related to the management of play currency comprises:

enabling the administrator to pre-authorize the purchase of the rewards by the one or more users from at least one online retailer; and

enabling the one or more users to directly purchase the pre-authorized awards from the online retailer.

10. The method of claim 1, wherein setting rules related to the management of play currency comprises:

setting an interest rate at which the play currency grows in user accounts; and

setting an interest rate compounding period.

11. The method of claim 1, wherein setting rules related to the management of play currency comprises:

enabling the one or more users to trade the specific tasks with each other; and

enabling the administrator to approve or disapprove a trade of the specific tasks.

12. The method of claim 1, wherein setting rules related to the management of play currency comprises enabling the administrator to extend a credit line to the one or more users to aid in purchasing the rewards, the method further comprising:

setting an interest rate attached to amounts credited to the one or more users; and

setting an interest rate compounding period for the credit line.

13. A financial trainer server for teaching users financial management using an online currency management system, comprising:

a network interface for communicating over a network;

a memory to store records of at least user accounts and a rules database;

a rules engine to control the user accounts and having access to the memory, the rules engine to;

enable an administrator to set up, over the network, a financial account comprising;

assign specific tasks for completion by one or more users;

set rules related to the management of play currency; and

designate rewards that are earned by the one or more users through completion of the specific tasks;

enable the administrator to fund, with real currency, the purchase of the rewards by the one or more users with play currency; and

a user interface for the one or more users to access and manage a user account containing the play currency.

14. The server of claim 13, wherein the administrator comprises a parent or guardian and the one or more users comprise children.

15. The server of claim 13, wherein the rules engine further performs enabling the administrator to:

set a quantity of play currency associated with each specific task;

associate a value in terms of play currency with each reward; and

inform the one or more users, in terms of play currency, the quantity associated with each task and the value associated with each reward.

16. The server of claim 15, wherein the rules engine comprises a rewards module to track the designated rewards and their respective values, and the memory comprises an online retailer database in data communication with the rewards module.

17. The server of claim 16, wherein the rewards module further enables the administrator to pre-authorize the purchase of specific rewards from at least one online retailer, and enables a user to directly purchase pre-authorized awards from the at least one online retailer.

18. The server of claim 17, further comprising a banking module to control the inflow and outflow of play currency through the user accounts as dictated by the rules engine, and as pre-authorized by the administrator, wherein the banking module stores in the online retailer database:

the real currency payment information of the administrator;

the specific rewards pre-authorized for purchase by the one or more users; and

a value in play currency required for a user to purchase each specific reward.

19. The server of claim 18, wherein the banking module enables a user to purchase a specific pre-authorized reward at the request of the user if the user has at least the value of the specific reward in the user'"'"'s account.

20. The server of claim 15, wherein the rules engine further enables the administrator to create an administrator user account with play currency to interact with the user accounts, wherein the rules engine comprises a trading module to manage the trading or purchasing of tasks between the administrator and the one or more users.

21. The server of claim 20, wherein the trading module further:

enables the administrator and the one or more users to transfer the play currency between their respective user accounts; and

enables the administrator to approve or disapprove the transfer of play currency by a user.

22. The server of claim 20, wherein the trading module further enables a user to trade tasks with at least one of an administrator and another user, and to auction a task among a plurality chosen from the group consisting of an administrator and other users.

23. An online retailer shopping cart comprising:

a network interface with which to communicate over a network with a financial trainer server, and with one or more users and administrators of the financial trainer server;

an authorization module to enable an administrator to pre-authorize the purchase of one or more rewards by the one or more users from user accounts containing play currency;

a memory to store information pertaining to the one or more pre-authorized rewards for purchase and those users authorized to purchase the rewards; and

a banking module to complete the purchase of a pre-authorized reward by a user.

24. The shopping cart of claim 23, wherein the information stored in memory comprises:

the real currency payment information of the administrator; and

a value in play currency required for a user to purchase each reward.

25. The shopping cart of claim 24, wherein upon a request by a user to purchase a reward, the banking module performs the method comprising:

ensuring that at least the value in play currency for the reward is present in the account of the user; and

debiting a value in real currency for the reward from the bank or credit account of the administrator.