SYSTEMS AND METHODS FOR A PRIVATE SECTOR MONETARY AUTHORITY
First Claim
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1. A system for administering a closed alternative currency, the system comprising:
- at least one processor and at least one memory, wherein the at least one processors perform the following steps;
providing access to one or more currency issuer users;
receiving requests for one or more issuance transactions with at least one of the one or more currency issuer users to issue or de-issue a quantity of a base money, wherein the base money is commodity-based and 100% reserved, and wherein the base money must come only from an account that already possesses adequate base money;
authenticating the one or more issuance transactions;
authorizing the one or more issuance transactions, if authenticated;
providing access to a plurality of account owner users;
receiving requests from one or more account owner users to add a quantity of base money to an end user account;
authenticating the request to add a quantity of base money;
authorizing the request to add a quantity of base money, if authenticated;
receiving requests from one or more account owner users to remove a quantity of base money to an end user account;
authenticating the request to remove a quantity of base money;
authorizing the request to remove a quantity of base money, if authenticated;
receiving requests for one or more payment transactions between account owner users in a base money;
authenticating the one or more payment transactions;
authorizing the one or more payment transactions if authenticated;
wherein the system is a closed system where base money cannot leave and outside money cannot enter.
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Abstract
Embodiments of the present invention may provide systems and methods for administering a private sector Monetary Authority. The systems and methods may include providing access to End Users; and enabling performance of specialized Roles required for the administration of the system. The systems and methods may be self-contained for creation, holding, circulation and retirement of the Base Money such that outside money or value cannot be transmitted into or out of the system.
283 Citations
20 Claims
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1. A system for administering a closed alternative currency, the system comprising:
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at least one processor and at least one memory, wherein the at least one processors perform the following steps; providing access to one or more currency issuer users; receiving requests for one or more issuance transactions with at least one of the one or more currency issuer users to issue or de-issue a quantity of a base money, wherein the base money is commodity-based and 100% reserved, and wherein the base money must come only from an account that already possesses adequate base money; authenticating the one or more issuance transactions; authorizing the one or more issuance transactions, if authenticated; providing access to a plurality of account owner users; receiving requests from one or more account owner users to add a quantity of base money to an end user account; authenticating the request to add a quantity of base money; authorizing the request to add a quantity of base money, if authenticated; receiving requests from one or more account owner users to remove a quantity of base money to an end user account; authenticating the request to remove a quantity of base money; authorizing the request to remove a quantity of base money, if authenticated; receiving requests for one or more payment transactions between account owner users in a base money; authenticating the one or more payment transactions; authorizing the one or more payment transactions if authenticated; wherein the system is a closed system where base money cannot leave and outside money cannot enter. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. An alternative currency payment system, the system comprising:
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at least one processor and at least one memory, wherein the at least one processors perform the following steps; providing a settlement platform for managing one or more accounts; receiving one or more requests from a user to make or receive a spend instruction in a quantity of base money, wherein the base money is commodity-based and 100% reserved, and wherein the base money must come only from an account that already possesses adequate base money; analyzing acceptability of potential spend instructions; authenticating a spend instruction by determining if the spend instruction conforms to rules of the system. - View Dependent Claims (14, 15, 16, 17)
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18. An alternative currency issuance system, the system comprising:
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at least one processor and at least one memory, wherein the at least one processors perform the following steps; providing an issuance platform for managing one or more accounts; receiving a bailment of a physical commodity to an allocated storage holding; sending a notification of the bailment to an issuing user; an issuer spend is made from a mint account to a comptroller account; a distribution spend is made to an account of a primary dealer receiving the bailment. - View Dependent Claims (19, 20)
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Specification