Patent ID: 8275714

Claim:
A method for performing a digital monetary transaction between a payer and a payee, the method comprising: connecting a central digital-cash system over a network; receiving a digital-cash value requested to be withdrawn from an account of a payer; generating a digital-cash code that is associated with the requested digital-cash value and communicating the digital-cash code to the payer; receiving the digital-cash value and the digital-cash code from a payee requesting to deposit the amount specified by the digital-cash value; comparing the received digital-cash value and the digital-cash code to confirm an association; and transferring funds of the amount specified by the digital-cash value to the payee, the central digital-cash system processing the digital-cash transaction and interacting with the payer and the payee through an interface, wherein the step of comparing includes: calculating a checksum with the digital-cash value and the digital-cash code; confirming to the payee the transaction is valid without being connected to the central digital-cash system; and transferring funds of the amount specified by the digital-cash value to the payee upon establishing a network connection to the central digital-cash system.