Intelligent currency validation network

• US 7,006,664 B2
• Filed: 12/22/2003
• Issued: 02/28/2006
• Est. Priority Date: 07/22/1998
• Status: Expired due to Fees

• Current Assignee: iCVn, Inc., WP/MD, LLC
• Original Assignee: iCVn, Inc.
• Inventors: Paraskevakos, Theodore George
• Primary Examiner(s): Mancuso, Joseph
• Assistant Examiner(s): Patel, Shefali
• Application Number:
  US10/740,587
• Publication Number:
  US 20040131230A1
• Time in Patent Office: 799 Days
• Field of Search: 382/100, 382/135, 382/137, 382/139, 382/140, 382/232, 379/49, 902/4, 902/5, 902/6, 902/7, 902/28, 340/568.7, 250/559.44, 700/116, 235/380, 235/382.5, 380/276, 359/2, 713/176, 283/72, 283/74, 283/81, 705/57, 705/58
• US Class Current: 382/100
• CPC Class Codes: G07D 11/30 Tracking or tracing valuable papers or cassettes
• CPC Class Codes: G07D 11/50 Sorting or counting valuable papers
• CPC Class Codes: G07D 7/003 using security elements using digital security elements G07D7/004
• CPC Class Codes: G07D 7/0047 using checkcodes, e.g. coded numbers derived from serial number and denomination
• CPC Class Codes: G07D 7/12 Visible light, infrared or ultraviolet radiation

Abstract

A method for an intelligent identification system to recognize and validate currency base in the uniqueness of their numbers by employing video scanning apparatus in conjunction with optical character recognition (OCR) software and broadcasting capabilities so it can recognize the currency'"'"'s value from a digitized serial number, store it with or without a “tag”, by memory means and be able to transmit and receive additional lists as a part of a network and as an extension; to recognize foreign countries currency, bank checks, personal checks and bills to be paid, for example: telephone bills, utility bills, etc.

Claims

1. A method for recognizing the authenticity of a document, the method employing a central processing unit connected in a data exchanging network and including the steps of:

scanning a document to obtain a digitized picture of the document;

from the digitized picture data, recognizing characters printed on the document;

generating an electronic identification (TAG) associated with the document providing information regarding the location of the document and the time of scanning the document to establish a historic file enabling the tracing of the document;

storing the recognized characters and electronic identification (TAG) in a local CPU;

comparing the recognized characters of the document and electronic identification (TAG) with previously stored information in the local CPU;

establishing a bi-directional communication link in the data exchanging network between the local CPU and the central processing unit; and

updating all stored information in the local CPU with information received from the central processing unit.

2. The method of claim 1, wherein the data exchanging network includes mobile phones which are operatively connected to the Internet.

3. The method of claim 1, further comprising the step of exchanging emergency contact information in real time via the data exchanging network.

4. The method of claim 1, wherein each of said steps are carried out at a plurality of different locations, all of which are connected in the data exchanging network.

5. The method of claim 1, wherein the document is paper money.

6. The method of claim 5, wherein the optically recognized characters and the stored characters are serial numbers of the paper money.

7. The method of claim 6, further comprising the step of perforating the paper money when the paper money is determined to be non-authentic.

8. The method of claim 1, further comprising the step of updating information collected in the central processing unit at predetermined time intervals.

9. The method of claim 8, wherein the updated information includes lists of wanted serial numbers of paper money.

10. The method of claim 1, further comprising the step of receiving, digitizing, comparing, and processing the fingerprint and photograph of a user.

11. The method of claim 1, wherein the step of recognizing characters is performed using optical character recognition (OCR) software.

12. The method of claim 1, wherein the communication link is a wireless link.

13. The method of claim 1, wherein the step of updating is performed at predetermined time intervals.

14. A currency validation system, comprising:

a central processing unit connected in a data exchanging network;

scanning means for obtaining a digitized picture of the currency;

a software program for optically recognizing characters printed on the currency;

means for generating an electronic identification (TAG) associated with the currency providing information regarding the location of the currency and the time of scanning the document to establish a historic file for enabling the tracing of the currency;

means for storing the recognizable characters of the document and electronic identification (TAG) in a local CPU;

means for comparing the recognizable characters and electronic identification (TAG) with previously stored information in the local CPU;

means for establishing a bi-directional communication link in the data exchanging network between the local CPU and the central processing unit; and

means for updating all stored information in the local CPU with information received from the central processing unit.

15. The system of claim 14, further comprising light means that can identify and read watermark icons and digitize the icons and compare the icons stored in memory.

16. The system of claim 14, further comprising:

means to transmit and receive ultraviolet light (UV); and

a logic analysis program to analyze and process the results.

17. The system of claim 14, wherein the system includes a currency counting means and currency storage means.

18. The system of claim 17, further comprising means to print serial numbers of the currency on a security tape.

19. The system of claim 17, wherein the counting and storage means form part of a drawerless cash register.

20. The system of claim 14, further comprising logic program means to read and recognize utility bills and logic means to recognize bills to be paid, and means for paying the bills.

21. The system of claim 14, further comprising means for receiving, digitizing, comparing and processing of fingerprints and photographs of an operator of the system.

22. The system of claim 14, wherein the means for updating updates stored information in the local CPU at predetermined time intervals.