Patent ID: 8706626
Filing Date: 2014-04-22
Classification: G06Q

Abstract:
1. An apparatus for electronically circulating a currency, comprising: a computing device comprising a processor and a computer-readable storage medium, the computing device comprising a communication interface communicatively coupled to a network; a transaction provider operating on a processor of the computing device, wherein the transaction provider is configured to generate a plurality of persistent, electronically anchored currency notes (PEAC notes), each PEAC note being assigned a respective unique identifier (UCNID) and a respective value, wherein each PEAC note is associated with an asset held by a custodian; wherein the transaction provider associates one or more transfer conditions with a first one of the PEAC notes; and wherein the transaction provider is configured to provisionally transfer ownership of the first PEAC note having a particular UCNID from a first entity to a second entity, wherein ownership of the first PEAC note is permanently transferred from the first entity to the second entity in response to satisfying the one or more transfer conditions and verifying that the UEID of the first entity is bound to the UCNID of the first PEAC note, and wherein the first PEAC note is transferrable by the second entity and retains the particular UCNID.