ACE (Alternative Currency Exchange): Alternative Currency Tracking and Mapping System and Method

• US 20090089168A1
• Filed: 01/07/2008
• Published: 04/02/2009
• Est. Priority Date: 01/10/2007
• Status: Abandoned Application

• Current Assignee: Owoxx LLC
• Original Assignee: Owoxx LLC
• Inventors: Schneck, Phyllis Adele
• Application Number:
  US11/970,494
• Publication Number:
  US 20090089168A1
• Time in Patent Office: Days
• US Class Current: 705/14.360
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/0655 e-cash managed centrally
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/0236 Incentive or reward received by requiring registration or ID from user
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The invention being disclosed relates to mapping alternative currencies to known worldwide currencies/cash (e.g. dollars, Euros), creating a computation engine to determine the relative values among real and alternative currencies, providing a service and exchange for maintaining or providing an orderly change in the relative value (exchange rate) of alternative and real currencies, and enabling the trading.

The invention includes a system and method to map alternative currencies to known currencies/cash (e.g. dollars, Euros).

Alternative currencies include but are not limited to:

• • Airline rewards (such as miles, points)
  • Hotel rewards (such as miles, points)
  • Credit card points, rewards
  • Cash accumulated within “virtual environments” such as online games (e.g. “Second Life”)

A rate quotation will be provided by computing the number of units of alternative currency that are equivalent to known currency.

Claims

1. A computer implemented method, comprising:

accessing exchange rates for various entities, such as airline points/“

miles”

, hotel points, or virtual gaming currency such as “

Second Life”

/Linden dollars;

displaying those values if desired via web, printed, audio, visual, or other modes;

providing a list of options for a user to choose, such list including exchanging one entity'"'"'s currency for another entity'"'"'s currency, and

effecting the choice made by the user.

3. The method of claim 1, wherein the currency is both virtual environment and “

reward points”

from a company

4. The method of claim 1, wherein the currency is “

reward points”

from a company

5. The method of claim 1, wherein the currency is currency in a virtual environment

6. The method of claim 1, wherein the user requests a specific combination of each currency and the method provides exchange options based on the user'"'"'s choice

2. A computer implemented method, comprising:

accessing exchange rates for various entities such as airline points/“

miles”

, hotel points, or virtual gaming currency such as “

Second Life”

/Linden dollars;

displaying those values if desired via web, printed, audio, visual, or other modes;

providing comparison of values of each, either or both historical, estimated, or real-time;

providing a list of options for a user to choose, such list including exchanging one entity'"'"'s currency for another entity'"'"'s currency, and effecting the choice made by the user.

7. A computer system that provides to a user exchange rates for various entities, such as airline points/“

miles”

, hotel points, or virtual gaming currency such as “

Second Life”

/Linden dollars;

that displays at least one of those values;

that provides a list of options for a user to choose, such list including exchanging one entity'"'"'s currency for another entity'"'"'s currency, and that effects the choice made by the user.