SYSTEMS AND METHODS FOR ELECTRONICALLY CIRCULATING A CURRENCY
First Claim
1. A system for electronically circulating a currency, comprising:
- a computing device comprising a processor and a computer-readable storage medium, the computing device comprising a transaction provider resident on the computer-readable storage medium and in communication with a deposit institution holding an asset having a value, the transaction provider configured to generate in the computer-readable storage medium a plurality of virtual currency notes, wherein each virtual currency note is assigned a respective unique currency identifier (UCNID) and has a respective value, wherein a sum of the values of the virtual currency notes does not exceed the value of the asset, and wherein the transaction provider is configured to assign ownership of a selected one of the plurality of virtual currency notes to a first entity having a unique entity identifier (UEID),wherein the transaction provider is configured to provide for transferring ownership of the selected virtual currency note from the first entity to a second entity while maintaining the asset in the deposit institution.
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Accused Products
Abstract
Virtual currency notes may be derived from one or more currency notes deposited at a currency reserve and/or from an asset held by a depository institution. A transaction provider may provide for ownership and/or transfer of the notes by various entities. Ownership of virtual currency notes may be transferred between entities while the depository institution maintains the asset associated therewith. A virtual currency note may be transferred to a transfer account, which may cause an amount equivalent to the virtual currency note to be deposited therein. After the transfer to a transfer account, the transferred virtual currency note may be removed from electronic circulation and/or transferred to another entity.
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Citations
30 Claims
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1. A system for electronically circulating a currency, comprising:
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a computing device comprising a processor and a computer-readable storage medium, the computing device comprising a transaction provider resident on the computer-readable storage medium and in communication with a deposit institution holding an asset having a value, the transaction provider configured to generate in the computer-readable storage medium a plurality of virtual currency notes, wherein each virtual currency note is assigned a respective unique currency identifier (UCNID) and has a respective value, wherein a sum of the values of the virtual currency notes does not exceed the value of the asset, and wherein the transaction provider is configured to assign ownership of a selected one of the plurality of virtual currency notes to a first entity having a unique entity identifier (UEID), wherein the transaction provider is configured to provide for transferring ownership of the selected virtual currency note from the first entity to a second entity while maintaining the asset in the deposit institution. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A computer-readable storage medium comprising instructions to cause a computing device comprising a processor and memory to perform a method for electronically circulating a currency, the method comprising:
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generating a plurality of virtual currency notes, each virtual currency note having a respective unique currency note identifier (UCNID) and being associated with a currency denomination, wherein each virtual currency note is associated with an asset having a value; assigning ownership of a selected one of the plurality of virtual currency notes to a first one of a plurality of entities, wherein assigning ownership of the selected virtual currency note to the first entity comprises associating the UCNID of the selected virtual currency note with the first entity; and transferring ownership of the selected virtual currency note from the first entity to a second one of the plurality of entities, wherein ownership of the selected virtual currency note is transferred by associating the UCNID of the selected virtual currency note with the second entity. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21)
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22. A method for electronically circulating a currency, the method performed by a computing device, having a processor and computer-readable storage medium and comprising:
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generating a plurality of virtual currency notes, each having a unique currency note identifier (UCNID), being assigned a currency denomination, and being associated with an asset held by a custodian; in the computer-readable storage medium, assigning ownership of a selected one of the plurality of virtual currency notes to a first entity; receiving a request to transfer ownership of the selected virtual currency note from the first entity to a second entity; and assigning ownership of the currency note to the second entity by associating, in the computer-readable storage medium, the UCNID with the second entity while maintaining the asset with the custodian. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29, 30)
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Specification