WIPO logo
Mobile | Deutsch | Español | Français | 日本語 | 한국어 | Português | Русский | 中文 | العربية |
PATENTSCOPE

Search International and National Patent Collections
World Intellectual Property Organization
Options
Query Language
Stem
Sort by:
List Length
2. (AU2014101277) New method for banks, financial institutions and monetary funds to provide ethical loans finance including Islamic finance with no interest or usury. Banks, financial institutions and monetary funds can replace interest or usury using this new method which is an internal crypto currency block chain dependent process the minting of new coin and mining of transaction fees.

Application Number: 2014101277 Application Date: 20.10.2014
Publication Number: 2014101277 Publication Date: 06.11.2014
Publication Kind : A4
IPC:
G06Q 40/02
G PHYSICS
06
COMPUTING; CALCULATING; COUNTING
Q
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
40
Finance; Insurance; Tax strategies; Processing of corporate or income taxes
02
Banking, e.g. interest calculation, credit approval, mortgages, home banking or on-line banking
Applicants: AAABlockchain Limited
Inventors:
Agents: Taylor, Nina
Priority Data:
Title: (EN) New method for banks, financial institutions and monetary funds to provide ethical loans finance including Islamic finance with no interest or usury. Banks, financial institutions and monetary funds can replace interest or usury using this new method which is an internal crypto currency block chain dependent process the minting of new coin and mining of transaction fees.
Abstract:
(EN) A New method for banks, financial institutions and monetary funds to provide ethical loans finance including Islamic finance with no interest or usury. Banks, financial institutions and monetary funds can earn the interest or usury using a different process which is an internal crypto currency block chain dependent process the minting of new coin and mining of transaction fees. This new method is made possible because of the latest technology inside the crypto currency wallet as well as external factors. Customer applies for a loan bank approves the loan and at the same time the bank acquires bank coin to the value of the loan. The bank then leverages the bank coin 2x as a number Ix goes to the pay for the bank coin and the other goes to the borrower. The borrower makes repayments however it is only the principle that he owes as there is no interest or usury.