Electronic cash eliminating payment risk
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United States of America Patent
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Jul 2, 2002
Issued Date -
N/A
app pub date -
Mar 26, 1999
filing date -
Feb 10, 1993
priority date (Note) -
Expired
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Abstract
A system and method to allow gold to circulate as digital cash through the global computer network (Internet) and/or private communication networks, in both hardwired and wireless systems, much like cash currently circulates in the physical world. A computer system is structured to allow the system user who is attached to the network to transfer digital data values based on gold units of account to or from a portable electronic device, such as a smartcard, and to or from other system users having compatible electronic devices. The sum total of all circulating digital data values will equal the weight of all the gold held for safekeeping at the storage site(s) for the users of the bank. The ownership of the electronic gold values is not transferred by a computer system executing debits and credits between individual accounts, but instead by individuals directly transferring the digital data values amongst themselves (as is done in cash transactions, i.e., without double-entry bookkeeping).
First Claim
Family
- 15 United States
- 10 France
- 8 Japan
- 7 China
- 5 Korea
- 2 Other
Patent Owner(s)
- BITGOLD (BVI) INC.;GM NETWORK LIMITED
International Classification(s)
Inventor(s)
Inventor Name | Address | # of filed Patents | Total Citations |
---|---|---|---|
Turk, Geoffrey | New York, NY | 4 | 301 |
Turk, James J | North Conway, NH | 7 | 425 |
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Maintenance Fees
Fee | Large entity fee | small entity fee | micro entity fee | due date |
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Fee | Large entity fee | small entity fee | micro entity fee |
---|---|---|---|
Surcharge after expiration - Late payment is unavoidable | $700.00 | $350.00 | $175.00 |
Surcharge after expiration - Late payment is unintentional | $1,640.00 | $820.00 | $410.00 |
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