초록 ▼

An improved monetary system using electronic media to exchange economic value securely and reliably. The invention provides a complete monetary system having electronic money that is interchangeable with conventional paper money comprising (1) issuing banks or financial institutions that are coupled

An improved monetary system using electronic media to exchange economic value securely and reliably. The invention provides a complete monetary system having electronic money that is interchangeable with conventional paper money comprising (1) issuing banks or financial institutions that are coupled to a money generator device for generating and issuing to subscribing customers electronic money including electronic currency backed by demand deposits, or electronic credit authorizations; (2) correspondent banks that accept and distribute the electronic money; (3) a plurality of transaction devices that are used by subscribers for storing electronic money, for performing money transactions with the on-line systems of the participating banks or for exchanging electronic money with other like transaction devices; (4) teller devices, associated with the issuing and correspondent banks, for process handling and interfacing the transaction devices to the issuing and correspondent banks, and for interfacing between the issuing and correspondent banks themselves; (5) a security arrangement for maintaining the integrity of the system; and (6) reconciliation and clearing processes to monitor and balance the monetary system.

대표청구항 ▼

[ What is claimed is:] [21.] An electronic monetary system comprising:a money generator module that generates electronic representations of money each one including a monetary value and an expiration indicator providing a period of validity for said electronic representation of money;a transaction m

[ What is claimed is:] [21.] An electronic monetary system comprising:a money generator module that generates electronic representations of money each one including a monetary value and an expiration indicator providing a period of validity for said electronic representation of money;a transaction module that stores and transfers said electronic representations of money to other transaction modules;wherein said money generator module is adapted to provide a shorter period of validity for electronic representations of money having a high monetary value than for electronic representations of money having a lower monetary value.