Normalized distributed exchange system

• US 8,078,513 B1
• Filed: 07/16/2007
• Issued: 12/13/2011
• Est. Priority Date: 07/16/2007
• Status: Active Grant

• Current Assignee: Swapbees, LLC
• Original Assignee: Automated Exchange Systems Incorporated
• Inventors: Sobh, Tarek M., Alameldin, Tarek Khaled, Mihali, Raul Constantin, Rosca, Andrei
• Primary Examiner(s): Colbert, Ella
• Assistant Examiner(s): Tran, Hai
• Application Number:
  US11/778,606
• Time in Patent Office: 1,611 Days
• Field of Search: 705 35- 45
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A real-time normalized, distributed exchange and barter system that allows multiple members to exchange multiple goods and services with other members of the system over a distributed network such as the Internet. The system may develop a plurality of permutations of trading cycles that allow for indirect exchanges between its members, with the option of using cash as an exchange element. The system may also develop permutations of trading cycles for sub-classes and sub-categories of the goods, services and exchange elements within the system, and choose an optimized set of trading cycles among the many trading-cycle permutations that cover the exchange system, based on criteria defined by the system'"'"'s sponsor. The system may determine all possible cyclic permutations of exchanges between its members and select the cyclic permutation that best meets the defined criteria, also the system would be able to make suggestions or impersonate a user in order to close any open chains.

Claims

1. A computer-implemented method of exchanging items over a network comprising a server and a plurality of computers between a plurality of users, the method comprising:

receiving information at the server from each of the plurality of users from their respective servers related to at least one item that each user is willing to exchange for other items held by other users of the plurality of users;

providing each user with access to the information on the server related to the other items held by the other users;

allowing each user to select from the information at least one item that each user is willing to accept in exchange for the at least one item each user is willing to exchange;

creating a chain link for each item that is selected to be received in exchange by any of the users; and

using a trading scenario algorithm to generate all possible permutations of closed chains of exchanges utilizing the chain links.

2. The method of claim 1, wherein each of the items includes at least one good, service, article, product, tangible, intangible, or commodity, or any combination thereof.

3. The method of claim 2, wherein the step of generating a closed chain of exchanges further includes

selecting an optimal permutation from the all possible permutations of closed chains based on predetermined criteria.

4. The method of claim 3, wherein the optimal permutation is selected by reason of its having a maximum number of chain links included therein.

5. The method of claim 3, further including the step of notifying each of the users included in the optimal permutation of the items that each of the users will receive in exchange for the items each of the respective users has offered for exchange.

6. The method of claim 2, where the step of generating the closed chains of exchanges further includes utilizing a fictitious trader that is capable of participating in one or more exchanges with the users in order to close at least one chain of exchanges.

7. The method of claim 6, wherein the step of utilizing the fictitious trader further includes:

enabling the fictitious trader to select one or more of the items offered for exchange by any of the users; and

creating a chain link for each of the selected one or more items.

8. The method of claim 7, wherein the step of utilizing the fictitious trader further includes enabling the fictitious trader to contribute cash in exchange for items for exchange.

9. The method of claim 7, where the step of using the fictitious trader further includes providing the fictitious trader with a warehouse containing preselected items available for exchange with the other users.

10. The method of claim 2, further including the steps of:

receiving information from additional users related to at least one item that each additional user wishes to exchange for other items;

storing the information received from each additional user in memory;

providing each additional user with access to the information in the memory related to the items offered for exchange; and

allowing each additional user to select from the information provided those items the additional user is willing to accept in exchange for the items the additional user wishes to exchange.

11. The method of claim 10, further including the step of repeating the steps of claims 4 and 6.

12. The method of claim 2, further including the step of storing the information received from each of the plurality of users in memory.

13. The method of claim 12, where the step of storing the information in the memory includes assigning a category to each item that is stored in the memory.

14. The method of claim 13, where the step of providing the user with access to the information in the memory includes allowing the user to search or to browse the memory.

15. A normalized distributed exchange system (“

NDES”

), whereby a plurality of users may each exchange one or more items with other users of the plurality of users over a distributed network comprising a server and a plurality of computers, the NDES comprising;

a user interface module on the server in signal communication with each of the plurality of users, whereby the user interface module is configured to receive data from each user related to at least one item each user is willing to exchange for one or more other items offered for exchange by other users of the NDES; and

a chain seeker module in signal communication with the user interface module, wherein the chain seeker module is configured to receive the data from the user interface module related to the items offered for exchange and from that data, create a chain link for each item that is selected to be received in exchange by any of the users, and generate all possible permutations of closed chains of exchanges that utilize a plurality of the created chain links.

16. The NDES of claim 15, where each of the items includes at least one good, service, article, product, tangible, intangible, or commodity, or any combination thereof.

17. The NDES of claim 16, further including a trading option module in signal communication with the user interface module configured to generate trading options for each of the users responsive to data provided by the users through the user interface module.

18. The NDES of claim 17, further including a memory in signal communication with the user interface module and the trading option module, whereby the information from the users related to the items is stored in the memory.

19. The NDES of claim 18, further including a suggestion module in signal communication with the chain seeker module, the user interface module, and the memory, wherein the suggestion module is configured to retrieve information from the memory and provide selected information to one or more users via the user interface module.

20. The NDES of claim 16, wherein the chain seeker module is configured to utilize a fictitious user to create one or more additional chain links in order to close at least one open chain of exchanges.

21. The NDES of claim 20, wherein the fictitious user is generated by the NDES that is capable of participating in one or more exchanges with the one or more users in order to close at least one chain of exchanges.

22. The NDES of claim 20, wherein the chain seeker module is further configured to utilize cash contributed by the fictitious user in order to close a chain of exchanges.

23. The NDES of claim 20, further including a warehouse adapted to store items used for exchanges involving the fictitious user.

24. The NDES of claim 16, wherein the chain seeker module is configured to generate a plurality of permutations of closed chains of exchanges utilizing all of the created chain links.

25. The NDES of claim 24, wherein the chain seeker module is further configured to select, according to predetermined criteria, at least one of the plurality of permutations generated by the chain seeker module.

26. An exchange system whereby each of a plurality of users of the exchange system may exchange one or more items with other users of the plurality of users over a network, the exchange system comprising:

means for receiving information related to items offered for exchange by each of the plurality of users;

means for providing access to the received information to the users of the exchange system;

means for allowing the users to select items contained in the received information to be received in exchange for items available to the respective users; and

means for determining an optimal number of exchanges that may be consummated between the plurality of users who have selected items for exchange.

27. The exchange system of claim 26, wherein the determining means further includes:

means for creating chain links in response to the selection of items by the users; and

means for generating at least one closed chain of exchanges utilizing the chain links.

28. The exchange system of claim 27, wherein the generating means further includes:

means for generating all possible permutations of closed chains of exchanges utilizing the chain links; and

means for selecting an optimal permutation from the all possible permutations of closed chains based on predetermined criteria.

29. The exchange system of claim 28, wherein the predetermined criteria includes a maximum number of exchanges included in the optional permutation.

30. The exchange system of claim 28, further including:

means for creating a fictitious trader;

means for enabling the fictitious trader to select one or more of the items offered for exchange by any of the users and creating a chain link for each of the selected one or more items; and

means for enabling the fictitious trader to participate in one or more exchanges with the users in order to close at least one chain of exchanges.

31. A non-transitory computer-readable medium having software for establishing a normalized distributed exchange system (“

NDES”

), the computer-readable medium comprising;

logic configured for receiving information from each of a plurality of users using the NDES related to at least one item that each of the plurality of users is willing to exchange for other items held by other users on the NDES;

logic configured for providing each user with access to the received information related to the other items held by the other users on the NDES;

logic configured for allowing each user to select from the received information at least one item that each user is willing to accept in exchange for the at least one item each user is willing to exchange;

logic configured for creating a chain link for each item that is selected to be received in exchange by any of the users; and

logic configured for using a trading scenario algorithm to generate all possible permutations of closed chains of exchanges utilizing the chain links.

32. The computer-readable medium of claim 31, further including logic configured for selecting an optimal closed chain of exchanges from the permutations of closed chains based on predetermined criteria.

33. The computer-readable medium of claim 32, further including logic configured for determining the closed chain of exchanges having the maximum number of chain links including therein.

34. The computer-readable medium of claim 33, further including logic configured for utilizing a fictitious trader generated by the NDES that is capable of participating in one or more exchanges with the users in order to close at least one chain of exchanges.

35. The computer-readable medium of claim 33, wherein the logic configured for providing each user with access to the received information further includes logic configured to retrieve information from a memory and to provide additional selected information related to items available for exchange to the users related to any unclosed chains of exchange.

36. The computer-readable medium of claim 35, further including logic configured for receiving selections from the users receiving the additional selected information and closing one or more of the unclosed chains of exchanges responsive to the received selections.