Method and system for commodity-based currency for payment of ac

Details Method and system for commodity-based currency for payment of ac Method and system for commodity-based currency for payment of ac

1995-06-05

1997-09-23

Chin, Willington

Communications: electrical

Land vehicle alarms or indicators

Internal alarm or indicator responsive to a condition of the...

395201, 395235, 34082535, G06F 1530, G06F 1500

Patent

active

056713649

ABSTRACT:
A system and method for permitting gold or other commodities to circulate as currency requires a network of system users that participate in financial transactions where payment is made in units of gold. The gold is kept in secure storage at a deposit site for the benefit of the users. The payments in gold are effected through a computer system having data storage and transaction processing programs that credit or debit the units of account of gold held for the account of each system user.

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Lee, P. and Ghosh, S.; "NOVAHID: A Novel Architecture for Asynchronous, Hierarchical, International, Distributed, Real-Time Payments Processing,"IEEE Journal on Selected Areas in Communications, v12, n6, pp. 1072-1087. Aug. 1994.

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