Patent ID: 6047067
Filing Date: 2000-04-04
Classification: G06Q,G07F,H04L

Abstract:
An electronic monetary system comprising:an issuing bank having an on-line accounting system;a money issued reconciliation system;electronic representations of money that are accounted for in said on-line accounting system;a money generator module associated with said issuing bank, for generating said electronic representations of money;a teller module associated with said issuing bank, capable of storing said electronic representations of money;a transaction money module capable of transferring said electronic representations of money;where a transfer record is appended to said electronic representations of money upon each transfer between any two of said modules, and where said electronic representations of money are periodically passed to said money issued reconciliation system;said money issued reconciliation system having a processor for analyzing said transfer records for each electronic representation of money to identify electronic representations of money that are lost or duplicated; andwhere a subscriber of a given transaction money module submits to said issuing bank a lost money claim that identifies one or more lost electronic representations of money associated with the given transaction money module, and said issuing bank remunerates said subscriber based on said lost money claim and on said money issued reconciliation system confining the validity of said lost money claim for each said one or more lost electronic representations of money.