Appeal No. 2006-1874
Reexamination Control No. 90/006,351
(b) a transaction data storage device for receiving records of
transactions denominated in units of said commodity from a said
person identified as having a quantity of said units of said
commodity credited to said account of said person, said records of
transactions including at least an identification of a person who
will receive a debit, a person who will receive a credit, an amount
of a debit of a quantity of said units of said commodity held at a
deposit site, an amount of a credit of a quantity of said units of said
commodity held at a deposit site, and an identification of the
deposit site where said quantity of said units of said commodity
are held,
(c) a transaction posting device for posting said records of
transactions to said account data storage device to update said data
comprising an identification of persons and a quantity of units of
said commodity credited to said account of said persons at an
identified deposit site;
a remote terminal located at said deposit site for receiving
and sending data to said computer system, said data identifying a
person and a quantity of units of said commodity held at said
deposit site for an account of said person;
said electronic commodity based system permitting persons
to conduct financial transactions without reliance on national
currencies in conducting said financial transactions whereby
obligations, of a person receiving a said debit of said units of said
commodity held at a deposit site, to another person receiving a said
credit of said units of said commodity held at a said deposit site,
are extinguished upon posting of said records of transactions,
thereby eliminating payment risk.
13. A method of accounting, using a valuable commodity as a deposit
currency, implemented by a computer system, comprising the steps of:
creating a deposit account data file for each of a plurality of
persons, each said deposit account data file identifying a person,
and a number of units of commodity stored at a deposit site for the
benefit of the person;
entering records of transactions denominated in units of
said commodity, said records of transactions including at least an
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