Patent ID: 7020626

Claim:
A synthetic currency transaction network performing transactions with near real time finality of transaction between potential borrowers and potential lenders and connected through the internet, said synthetic currency created by pooling and dividing into shares a portfolio of highly liquid assets and by frequent evaluation and disbursements of dividends on those assets so as to hold the value of the synthetic currency share at unity with the underlying currency, said synthetic currency network comprising: browser means for interfacing synthetic currency network users to said synthetic currency transaction network through the internet; database means for storing and maintaining records and other information used by said synthetic currency transaction network; transaction management means operatively connected to said browser means and said database means for managing network users' accounts and all network transactions; fund accounting means operatively connected to said transaction management means for managing network information regarding said synthetic currency; deposit bank means which acts as custodian for said portfolio of highly liquid assets which underlie said synthetic currency; investment management means operatively connected to said transaction management means and said deposit bank means for managing the measure of synthetic currency and directing investment decisions; and loan accountant means operatively connected to said transaction management means for managing all lending and borrowing activities in said synthetic currency transaction network.