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1. (AU2017101206) New Blockchain Foreign Exchange Innovation Patent international funds transfers settled locally/nationally by our blockchain sender and receiver in but not limited to both countries matching algorithm and POS proof of stake secondary mining process.for entities such as but not limited to Governments, treasuries, central banks, banks, financial institutions, monetary funds, judicial entities, real estates, properties commercial, industrial, domestic, foreign, stock, bond, share and IT software markets, insurance captive Islamic banking sharia compliant blockchain foreign exchange innovation.

Application Number: 2017101206 Application Date: 04.09.2017
Publication Number: 2017101206 Publication Date: 21.09.2017
Publication Kind : A4
IPC:
G06Q 40/04
G06Q 20/22
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
04
Exchange, e.g. stocks, commodities, derivatives or currency exchange
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
20
Payment architectures, schemes or protocols
22
Payment schemes or models
Applicants: McAlister, Gary MR
Taylor, Nina MISS
Inventors:
Agents: Taylor, Nina MISS
Priority Data:
Title: (EN) New Blockchain Foreign Exchange Innovation Patent international funds transfers settled locally/nationally by our blockchain sender and receiver in but not limited to both countries matching algorithm and POS proof of stake secondary mining process.for entities such as but not limited to Governments, treasuries, central banks, banks, financial institutions, monetary funds, judicial entities, real estates, properties commercial, industrial, domestic, foreign, stock, bond, share and IT software markets, insurance captive Islamic banking sharia compliant blockchain foreign exchange innovation.
Abstract:
(EN) for example AMLFX: a blockchain foreign exchange, and have them settled local/nationally. What this means is that the funds never leave the country, they simply go from one users account in country to another users account in country, as an example but not limited to: bank to bank, credit union to bank, financial institution to bank, fund to financial institution etc. The banks would also have access to the POS (proof of stake) mechanism built into the blockchain to use as reserves and keep the network up and running. As an incentive it could also offset by monetising the digital assets/commodities which could in turn reduce transaction fees. As an example, Thomas and Bill are in a bar in Canada having a conversation and Bill brings up that he is waiting on funds of $1000US from his friend Chao in China, when Thomas says I am sending my friend Jing in China $1000US. Gary, sitting at the next table over hears them talking and says why dont you Thomas give Bill your $1000US and Bill you get Chao to give Jing $1000US. Both transactions would then be settled and you can both get on with your business also the money stays in country as opposed to them both being sent out of each others respective countries.