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Countable electronic monetary system and method

  • US 6,467,685 B1
  • Filed: 03/09/2000
  • Issued: 10/22/2002
  • Est. Priority Date: 04/01/1997
  • Status: Expired due to Term
First Claim
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1. A countable electronic value system for the transfer of electronic value in integer multiples of an elementary value unit, the transfer being between two selected ones from a plurality of consumers, a plurality of merchants and a number of value issuers, the countable electronic value system comprising:

  • a) a plurality of electronic coin types of different denominations, each denomination being an integer multiple of the denomination of said elementary value unit;

    b) for each of said electronic coin types, a plurality of electronic coins each having a serial number;

    c) a plurality of sorted value devices for storing said electronic coins, said plurality of stored-value devices including;

    (i) electronic coin purses for consumers, (ii) electronic coin drawers form merchants, and (iii) electronic coin pools for value issuers; and

    d) transaction means for transferring a selectable amount of value from a selected source stored value device to a selected target stored value device, said transaction means being responsive to at least the selectable amount of value to automatically select, for each of said electronic coin types;

    (i) a first group of a first non-negative number of electronic coins to be transferred from the source stored value device to the target stored value device, and (ii) a second group of a second non-negative number of electronic coins to be transferred from the target stored value device to the source stored value device.

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