Method, system and apparatus for increasing the deposit-based assets of banking institutions subject to fractional-reserve banking
First Claim
1. A system for increasing the demand deposit asset base of a banking institution for fractional-reserve banking within the Federal Reserve System, wherein a first and a second demand deposit account, each having a balance, are captive in that banking institution, comprising:
- (a) a portable “
cre-bit”
device for encrypted containment of numeric fractional currency amounts linked to the first account at the banking institution and comprising portable transacting means for validating and performing at least one commercial transaction without the use of physical fractional currency and for a specific amount,(b) a node device for encrypted containment of numeric fractional currency amounts linked to the second account at the banking institution and comprising node transacting means for validating and performing said at least one commercial transaction without the use of physical fractional currency and for said specific amount,(c) an encrypted data exchange interface between said portable device and said node device for accurately communicating therebetween said specific amount of said at least one commercial transaction that comprises “
cre-bit”
data;
a credit to one and a debit to the other;
(d) upon transacting said at least one commercial transaction the two devices are configured via said respective transacting means to trigger said data exchange interface such that said “
cre-bit”
data is communicated between said two devices in order for one of the accounts to be debited for said transaction said specific amount and the other device to be credited said specific amount commensurate with said at least one commercial transaction;
(e) first communication means for communicating said “
cre-bit”
data to the banking institution to effect said crediting and debiting of said accounts such that the balance of each respective account therein is respectively properly credited and debited said specific amount in accordance with said at least one commercial transaction;
(f) second communication means for communicating within the Federal Reserve System changes in the demand deposit asset base at the banking institution for fractional-reserve banking within the Federal Reserve System; and
(g) said portable “
cre-bit”
device comprises a microprocessor, display means for displaying said balance of said first account and “
cre-bit”
data, operator interface means for entering, sending and receiving said “
cre-bit”
data, power, memory, and wireless communication means for communicating with said node device.
1 Assignment
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Accused Products
Abstract
A method for increasing the demand deposit asset base of a bank for fractional-reserve banking within the Federal Reserve System, with first and second demand deposit accounts captive at that bank, comprising: (a) receiving physical fractional currency at the bank and increasing the first account balance in an amount corresponding to the value of currency received; (b) encrypting in a “cre-bit” device the balance of the first account including the numeric value of currency received; (c) reflecting in a node device currency amounts concomitantly linked to the second account; (d) performing a commercial transaction without the use of physical functional currency for a specific amount such that the first account is simultaneously debited and the second account is credited the specific amount; (e) repeating step (a) then step (b) and/or repeating step (c); and (f) displaying the first account balance and “cre-bit” data on the “cre-bit” device.
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Citations
15 Claims
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1. A system for increasing the demand deposit asset base of a banking institution for fractional-reserve banking within the Federal Reserve System, wherein a first and a second demand deposit account, each having a balance, are captive in that banking institution, comprising:
-
(a) a portable “
cre-bit”
device for encrypted containment of numeric fractional currency amounts linked to the first account at the banking institution and comprising portable transacting means for validating and performing at least one commercial transaction without the use of physical fractional currency and for a specific amount,(b) a node device for encrypted containment of numeric fractional currency amounts linked to the second account at the banking institution and comprising node transacting means for validating and performing said at least one commercial transaction without the use of physical fractional currency and for said specific amount, (c) an encrypted data exchange interface between said portable device and said node device for accurately communicating therebetween said specific amount of said at least one commercial transaction that comprises “
cre-bit”
data;
a credit to one and a debit to the other;(d) upon transacting said at least one commercial transaction the two devices are configured via said respective transacting means to trigger said data exchange interface such that said “
cre-bit”
data is communicated between said two devices in order for one of the accounts to be debited for said transaction said specific amount and the other device to be credited said specific amount commensurate with said at least one commercial transaction;(e) first communication means for communicating said “
cre-bit”
data to the banking institution to effect said crediting and debiting of said accounts such that the balance of each respective account therein is respectively properly credited and debited said specific amount in accordance with said at least one commercial transaction;(f) second communication means for communicating within the Federal Reserve System changes in the demand deposit asset base at the banking institution for fractional-reserve banking within the Federal Reserve System; and (g) said portable “
cre-bit”
device comprises a microprocessor, display means for displaying said balance of said first account and “
cre-bit”
data, operator interface means for entering, sending and receiving said “
cre-bit”
data, power, memory, and wireless communication means for communicating with said node device. - View Dependent Claims (2, 3, 4, 5, 8)
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6. A method for increasing the demand deposit asset base of a banking institution for fractional-reserve banking within the Federal Reserve System, wherein a first and a second demand deposit account, each having a balance, are captive in that banking institution, comprising:
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(a) receiving physical fractional currency at the banking institution and increasing the balance of said first deposit account in an amount corresponding to the value of the currency received; (b) encrypting in a portable “
cre-bit”
device the balance of said first account including the numeric value of the currency amounts received;(c) reflecting in a node device currency amounts concomitantly linked to the second accountant at the banking institution; (d) performing at least one commercial transaction without the use of physical fractional currency and for a specific amount in a manner that provides that the first account is simultaneously debited said specific amount and the second account is credited that amount in accordance with said at least one commercial transaction, comprising the steps of; (1) communicating in an encrypted manner between said portable device and said node device accurate “
cre-bit”
data reflecting the commercial transaction that comprises a credit to one and a debit to the other in the specific amount;(2) transacting the commercial transaction between the two devices such that said currency amount encrypted in said portable device is debited for the transaction said specific amount and said currency amount reflected in said node device is credited said specific amount commensurate with the commercial transaction and in accordance with said “
cre-bit”
data; and(3) communicating said “
cre-bit”
data to the banking institution;(4) adjusting the balances of each respective account at the banking institution by simultaneously crediting and debiting the respective account in accordance with the commercial transaction and said “
cre-bit”
data; and(5) concomitantly updating the respective currency amounts to equal the respective adjusted balances; (e) repeating at least one step selected from the group consisting of;
(1) step (a) then step (b); and
(2) step (c); and(f) displaying on demand upon said “
cre-bit”
device said balance in said first account and “
cre-bit”
data. - View Dependent Claims (7)
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9. An apparatus for increasing the demand deposit asset base of a banking institution for fractional-reserve banking within the Federal Reserve System, wherein a first and a second demand deposit account, each with a respective balance, are captive, comprising:
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(a) portable means for encryption and display of a fractional currency amount linked to the first account at the banking institution and comprising transacting means for performing and validating at least one commercial transaction affecting the balance of the first account; (b) node means for encryption and display of a fractional currency amount linked to the second account at the banking institution and comprising node transacting means for performing and validating said at least one commercial transaction affecting the balance of the second account; (c) encrypted interface means between said portable device means and said node device means for communicating between said transacting means data reflecting said at least one commercial transaction comprising a credit to one account and a debit to the other account for a specific amount that includes fractional currency (“
cre-bit”
data);(d) transmitting means for transmitting said “
cre-bit”
data between the portable and node means such that the balance of one account is debited for the transaction said specific amount and the other account is credited said specific amount commensurate with said at least one commercial transaction;(e) approving means, operatively contained in said portable means, which, when approvingly engaged, encryptically transmits to and receives from said node means said “
cre-bit”
data; and(f) first communicating means for communicating said “
cre-bit”
data to the banking institution;(g) bank transacting means for adjusting the balances of each respective account in accordance with the commercial transaction, specific amount and “
cre-bit”
data;(h) second communication means for communicating within the Federal Reserve System changes in the demand deposit asset base at the banking institution for fractional-reserve banking within the Federal Reserve System; and (i) display means for optional confirmatory display of currency amounts at the respective node and portable means. - View Dependent Claims (10, 11, 12, 13, 14, 15)
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Specification