Patent ID: 8195578
Filing Date: 2012-06-05
Classification: G06Q

Abstract:
1. A method for effecting currency transactions between a first user and a second user over a network, the method comprising the following steps: A) a Currency Issuing Authority trusted server (CIAS) receives payment instructions from said first user to transfer a first monetary sum to said second user, wherein the CIAS is programmed to receive payment instructions from said first user only over a network connection between said first user and a Currency Issuing Authority (CIA); B) the CIAS accesses one or more money-representing data packets in a first active data packets area located in a first data storage area associated with said first user, each of said money-representing data packets comprising information on its value and having been provided by said CIA; C) the CIAS manipulates the money-representing data packets located in said first active data packets area to withdraw a second monetary sum therefrom and (i) deletes one or more money-representing data packets in the first active data packets area that equals the second monetary sum or (ii) marks one or more money-representing data packets in the first active data packets area that equals the second monetary sum as spent; and D) the CIAS creates one or more new money-representing data packets corresponding to a third monetary sum.