Conversion application implemented in network database to faciliate currency conversion

• US 8,326,693 B1
• Filed: 08/25/2010
• Issued: 12/04/2012
• Est. Priority Date: 08/25/2009
• Status: Active Grant

• Current Assignee: Alex H Chan
• Original Assignee: AC Holding Company, LLC
• Inventors: Chan, Alex H.
• Primary Examiner(s): Garg, Yogesh C
• Application Number:
  US12/868,719
• Time in Patent Office: 832 Days
• Field of Search: 705/26.1, 705/26.4, 705/37, 705/14.64
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 20/381 Currency conversion

Abstract

Systems, methods and computer program products for processing inputs of various formats to be used in an auction are described. In some implementations, a conversion application can be used to assist a user in setting a conversion ratio by which a service can be valued (e.g., for converting values between commercial and proprietary currency). In some implementations, a cash value of the service to be rendered can be defined. In these implementations, the conversion application can facilitate the determination of an appropriate conversion ratio by which the cash value can be converted to other currency value (e.g., to other proprietary currency).

Claims

1. A method comprising:

accessing, by a processor, a service listing associated with a service, the service having an associated offer value for obtaining the service, the associated offer value definable using values from at least one of monetary format or non-monetary format, wherein the values are configured to be converted, using a conversion ratio, from the monetary format to the non-monetary format or from the non-monetary format to the monetary format in accordance with a predefined ratio;

receiving, by the processor from a first entity, the conversion ratio associated with obtaining the service;

receiving, by the processor, a request from a second entity to obtain the service including receiving a transaction value in the request;

determining, by the processor, whether the transaction value satisfies the associated offer value including;

converting, based on the conversion ratio, the transaction value into a format associated with the associated offer value including converting the transaction value to one in monetary or non-monetary format, and

determining whether the converted transaction value satisfies the associated offer value; and

processing, by the processor, the converted transaction value based on the determination.

2. The method of claim 1, wherein receiving the conversion ratio includes receiving information associated with the conversion ratio from a service provider as the first entity, the service provider offering or listing the service.

3. The method of claim 1, wherein receiving the request includes receiving a first transaction value and a second transaction value as the transaction value, the first transaction value in the monetary format and the second transaction value in the non-monetary format.

4. The method of claim 3, further comprising determining whether the associated offer value is in the monetary format or non-monetary format,

wherein converting the transaction value includes converting, based on the conversion ratio, the second transaction value into a monetary transaction value in the monetary format when the associated offer value is in the monetary format, or the first transaction value into a non-monetary transaction value in the non-monetary format when the associated offer value is in the non-monetary format.

5. The method of claim 4, wherein determining whether the converted transaction value satisfies the associated offer value includes:

identifying a sum of the first transaction value and the second transaction value after conversion of the first transaction value or the second transaction value; and

determining whether the sum satisfies the associated offer value.

6. The method of claim 5, wherein processing the converted transaction value based on the determination includes:

recording the request if the sum satisfies the associated offer value; and

notifying the second entity that the transaction value fails to satisfy the associated offer value if the sum fails to satisfy the associated offer value.

7. The method of claim 3, further comprising:

receiving, from the second entity, a maximum value associated the monetary format or non-monetary format; and

determining whether the first transaction value or the second transaction value exceeds the maximum value,

wherein converting the transaction value and processing the converted transaction value are performed only when the first transaction value or the second transaction value satisfies the maximum value.

8. The method of claim 1, wherein:

accessing the service listing includes accessing the service listing associated with a first service; and

receiving the request from the second entity includes receiving the request from the second entity to obtain the first service as well as information associated with a second service offered by the second entity, the request being processed as a service transaction through which the first entity obtains the second service from the second entity and the second entity obtains the first service from the first entity.

9. The method of claim 8, wherein:

receiving the request includes receiving a trade value associated with the second service; and

determining whether the converted transaction value satisfies the associated offer value includes determining whether a sum of the converted transaction value and the trade value satisfies the associated offer value.

10. The method of claim 9, further comprising:

determining the trade value is in a format different from the format associated with the associated offer value; and

converting, based on the conversion ratio, the trade value into one having a same format as that associated with the associated offer value,

wherein determining whether the sum of the converted transaction value and the trade value satisfies the associated offer value includes determining whether a sum of the converted transaction value and the converted trade value satisfies the associated offer value.

11. The method of claim 10, wherein:

determining the trade value includes determining the trade value is in either monetary or non-monetary format different from that associated with the associated offer value; and

converting the trade value includes converting the trade value into a monetary trade value in the monetary format when the associated offer value is in the monetary format, or into a non-monetary trade value in the non-monetary format when the associated transaction value is in the non-monetary format.

12. The method of claim 9, wherein receiving the trade value includes receiving a first trade value and a second trade value, the first trade value and the second trade value each in a different format.

13. The method of claim 12, wherein receiving the first trade value and the second trade value includes receiving the first trade value in the monetary format and the second trade value in the non-monetary format, the method further comprising:

converting the trade value including converting, based on the conversion ratio, the second trade value into a monetary trade value in the monetary format when the associated offer value is in the monetary format, or the first trade value into a non-monetary trade value in the non-monetary format when the associated offer value is in the non-monetary format.

14. The method of claim 13, wherein determining whether the sum of the converted transaction value and the trade value satisfies the associated offer value includes determining whether a sum of the converted transaction value and the converted trade value satisfies the associated offer value.

15. The method of claim 12, wherein:

receiving the transaction value includes receiving a first transaction value and a second transaction value, the first transaction value and the second transaction value in a different format; and

determining whether the sum of the converted transaction value and the trade value satisfies the associated offer value includes determining whether a sum of the first transaction value, the second transaction value, the first trade value, and the second trade value satisfies the associated offer value.

16. A system comprising:

a processor; and

a memory coupled to the processor and storing instructions, which, when executed by the processor, causes the processor to perform operations comprising;

accessing a service listing associated with a service offered by a first entity, the service having an associated offer value that is associated with a predefined relationship for obtaining the service, the predefined relationship configured to correlate values in monetary format with values in non-monetary format or values in non-monetary format with values in monetary format in accordance with a predefined ratio;

receiving a request from a second entity to obtain the service, the request including a transaction value;

receiving, from the first entity, the predefined relationship associated with obtaining the service;

comparing, based on the predefined relationship and the predefined ratio, the transaction value with the associated offer value;

determining, based on the comparison, whether the transaction value satisfies the associated offer value; and

recording the request when the transaction value satisfies the associated offer value.

17. The system of claim 16, wherein the memory further includes instructions which, when executed by the processor, causes the processor to perform operations comprising:

receiving the request includes receiving a first transaction value and a second transaction value as the transaction value, the first transaction value in the monetary format and the second transaction value in the non-monetary format.

18. The system of claim 17, wherein the memory further includes instructions which, when executed by the processor, causes the processor to perform operations comprising:

determining whether the associated offer value is in the monetary format or non-monetary format,

wherein comparing the transaction value with the associated offer value includes;

converting, based on the predefined relationship and the predefined ratio, the second transaction value into a monetary transaction value in the monetary format when the associated offer value is in the monetary format, or the first transaction value into a non-monetary transaction value in the non-monetary format when the associated offer value is in the non-monetary format; and

comparing the first transaction value and the second transaction with the associated offer value based on the conversion.

19. The system of claim 18, wherein the instructions causes the processor to determine whether the converted transaction value satisfies the associated offer value by:

identifying a sum of the first transaction value and the second transaction value after conversion of the first transaction value or the second transaction value; and

determining whether the sum satisfies the associated offer value.

20. The system of claim 17, wherein the memory further includes instructions which, when executed by the processor, causes the processor to perform operations comprising:

receiving, from the second entity, a maximum value associated the monetary format or non-monetary format; and

determining whether the first transaction value or the second transaction value exceeds the maximum value,

wherein comparing the transaction value and recording the request are performed only when the first transaction value or the second transaction value satisfies the maximum value.