Systems and methods for electronically circulating a currency
First Claim
1. A system for electronically circulating a currency, comprising:
- a server computing device communicatively coupled to a network and comprising a memory, processor and a computer-readable storage medium, the server computing device comprising;
a transaction provider resident on the computer-readable storage medium of the server computing device and in communication with a deposit institution holding an asset having a value via the network, the transaction provider configured to generate in the computer-readable storage medium a plurality of virtual currency notes, wherein each virtual currency note is assigned a respective unique currency identifier (UCNID) and has a respective value, wherein a sum of the values of the virtual currency notes does not exceed the value of the asset,wherein the transaction provider is configured to assign ownership of virtual currency notes to respective owners by binding UCNIDs of virtual currency notes to respective unique entity identifiers (UEIDs), including binding a selected one of the plurality of the virtual currency notes to a UEID of a first entity,and wherein the transaction provider is further configured to provide for transferring ownership of the selected virtual currency note from the first entity to a second entity while maintaining the asset in the deposit institution in response to a transfer request received at the server computing device via the network, wherein the selected virtual currency note retains the particular UCNID after being transferred to the second entity, wherein the selected virtual currency note is transferrable by the second entity, and wherein transferring ownership comprises verifying that the UEID of the first entity is bound to the UCNID of the selected virtual currency note.
2 Assignments
0 Petitions
Accused Products
Abstract
Virtual currency notes may be derived from one or more currency notes deposited at a currency reserve and/or from an asset held by a depository institution. A transaction provider may provide for ownership and/or transfer of the notes by various entities. Ownership of virtual currency notes may be transferred between entities while the depository institution maintains the asset associated therewith. A virtual currency note may be transferred to a transfer account, which may cause an amount equivalent to the virtual currency note to be deposited therein. After the transfer to a transfer account, the transferred virtual currency note may be removed from electronic circulation and/or transferred to another entity.
91 Citations
29 Claims
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1. A system for electronically circulating a currency, comprising:
a server computing device communicatively coupled to a network and comprising a memory, processor and a computer-readable storage medium, the server computing device comprising; a transaction provider resident on the computer-readable storage medium of the server computing device and in communication with a deposit institution holding an asset having a value via the network, the transaction provider configured to generate in the computer-readable storage medium a plurality of virtual currency notes, wherein each virtual currency note is assigned a respective unique currency identifier (UCNID) and has a respective value, wherein a sum of the values of the virtual currency notes does not exceed the value of the asset, wherein the transaction provider is configured to assign ownership of virtual currency notes to respective owners by binding UCNIDs of virtual currency notes to respective unique entity identifiers (UEIDs), including binding a selected one of the plurality of the virtual currency notes to a UEID of a first entity, and wherein the transaction provider is further configured to provide for transferring ownership of the selected virtual currency note from the first entity to a second entity while maintaining the asset in the deposit institution in response to a transfer request received at the server computing device via the network, wherein the selected virtual currency note retains the particular UCNID after being transferred to the second entity, wherein the selected virtual currency note is transferrable by the second entity, and wherein transferring ownership comprises verifying that the UEID of the first entity is bound to the UCNID of the selected virtual currency note. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A non-transitory computer-readable storage medium comprising instructions to cause a computing device comprising a processor and memory to perform a method for electronically circulating a currency, the method comprising:
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generating, at a server computing device computing a memory and a processor, a plurality of virtual currency notes, each virtual currency note having a respective unique currency note identifier (UCNID) and being associated with a currency denomination, wherein each virtual currency note is associated with an asset having a value; assigning ownership of virtual currency notes by associating the virtual currency notes with respective owners of the virtual currency notes in a database, including assigning ownership of a selected one of the plurality of virtual currency notes to a first one of a plurality of entities by associating the UCNID of the selected virtual currency note with the first entity; and transferring ownership of the selected virtual currency note from the first entity to a second one of the plurality of entities in response to a transfer request received at the server computing device, wherein ownership of the selected virtual currency note is transferred by associating the UCNID of the selected virtual currency note with the second entity, wherein the virtual currency note is transferrable by the second entity, wherein the virtual currency note retains the same UCNID, and wherein transferring ownership comprises verifying that the first entity owns the selected virtual currency note by determining that the UCNID of the virtual currency note is associated with the first entity in the database. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20)
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21. A method for electronically circulating a currency, comprising:
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generating a plurality of virtual currency notes within a computer readable storage medium using a processor of a server computing device, each virtual currency note having a unique currency note identifier (UCNID), being assigned a currency denomination, and being associated with an asset held by a custodian; using the processor of the server computing device to assign ownership of virtual currency notes by associating UCNIDs of the virtual currency notes with respective entities in the computer-readable storage medium, including associating a selected one of the plurality of virtual currency notes with a first entity; receiving a request to transfer ownership of the selected virtual currency note from the first entity to a second entity at the server computing device in response to a transfer request received via a network from a remote, client computing device; using the processor of the server computing device to verify that the first entity owns the selected virtual currency note by use of the associations between virtual currency notes and entities in the computer-readable storage medium; and in response to verifying that the first entity owns the selected virtual currency note, using the processor to transfer ownership of the virtual currency note to the second entity by associating, in the computer-readable storage medium, the UCNID with the second entity, wherein the transferred virtual currency note is transferrable by the second entity, and wherein the UCNID of the selected virtual currency note is unchanged after ownership is transferred to the second entity. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29)
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Specification