Platform, system, and associated method for the exchange of digital currencies between members in a mobile environment

Abstract

A system and associated method and service for providing a platform that enables members to transfer, receive, or otherwise exchange cash in various international denominations and commodities, such as precious metals (e.g., gold, silver, etc.), in a mobile highly secured telecommunications environment. The system is capable of delivering cash instantly between two or more users by allowing the exchange of secure transactions between system and cash dispensing machines (ATMs). Users may pay, receive, exchange, deposit, transfer, pay bills, exchange currency, retrieve cash, deposit cash and create accounts based on the mobile phone number or a system generated code.

1 . A financial service method that provides a cashless platform for enabling users to perform a financial transaction in a mobile environment, wherein the financial transaction includes at least a transfer of a digital currency, the method comprising:
 entering financial information related to the financial transaction on a first user mobile station;   the first user mobile station generating a code containing the financial information on the first user mobile station, wherein the code identifies a type of the financial transaction as the transfer of the digital currency;   the first user mobile station directly transferring the generated code to a second user mobile station;   the first user mobile station further transmitting the generated code to a mobile transaction platform to authenticate the executability of the transfer of the digital currency;   the second user mobile station and the mobile transaction platform automatically recognizing the generated code;   based on the recognized generated code, the second user mobile station determines whether to accept or decline the financial transaction;   wherein when the financial transaction is accepted by the second mobile user station, the mobile transaction platform executing the financial transaction, including the transfer of the digital currency;   wherein when the financial transaction is declined by the second user mobile station, the mobile transaction platform preventing the execution of the financial transaction, including the transfer of the digital currency; and   the mobile transaction platform notifying the first user mobile station whether the financial transaction was either accepted or declined by the second user mobile station.   
     
     
         2 . The financial service method according to  claim 1 , wherein the mobile transaction platform executes the financial transaction by transferring the digital currency from the first user mobile station to the second user mobile station. 
     
     
         3 . The financial service method according to  claim 1 , wherein the mobile transaction platform executes the financial transaction by transferring the digital currency from the second user mobile station to the first user mobile station. 
     
     
         4 . The financial service method according to  claim 1 , wherein the financial transaction includes an exchange of digital currencies; and
 wherein the mobile transaction platform executes the financial transaction by exchanging the digital currencies between the first user mobile station and the second user mobile station.   
     
     
         5 . The financial service method according to  claim 1 , wherein the mobile transaction platform generates a digital currency that is backed by secured assets. 
     
     
         6 . The financial service method according to  claim 1 , wherein the secured assets include commodities. 
     
     
         7 . The financial service method according to  claim 5 , wherein the mobile transaction platform generates a private label for the generated digital currency. 
     
     
         8 . The financial service method according to  claim 5 , wherein the generated digital currency is amenable for use in commerce. 
     
     
         9 . The financial service method according to  claim 5 , wherein the mobile transaction platform authenticates the executability of the transfer of the digital currency by allowing a third party institution to authenticate the legitimacy of the digital currency transfer, in order to generate confidence in the generated digital currency. 
     
     
         10 . The financial service method according to  claim 4 , wherein the mobile transaction platform executes the financial transaction by further assigning values to the exchanged digital currencies. 
     
     
         11 . The financial service method according to  claim 1 , wherein the first user mobile station is in direct communication proximity to the second user mobile station. 
     
     
         12 . The financial service method according to  claim 11 , wherein the first user mobile station is in direct physical proximity to the second user mobile station. 
     
     
         13 . A financial service exchange platform that provides a cashless exchange of digital currencies between users as part of a financial transaction, the platform comprising:
 a module for entering financial information related to the financial transaction on a first user mobile station;   a module on the first user mobile station for generating a code related to the exchange of the digital currencies;   a module on the first user mobile station for directly transferring the generated code to a second user mobile station and to a mobile transaction platform;   a module on the mobile transaction platform for receiving the code and based on the received code, authenticating the executability of the financial transaction, assigning values to the digital currencies being exchanged, and generating an updated code that reflects the executability of the financial transaction and the assigned values of the digital currencies;   a module on the second user mobile station for automatically recognizing the updated code, and based on the recognized updated code, determining whether to accept or decline the financial transaction;   wherein when the financial transaction is accepted by the second mobile user station, a module on the mobile transaction platform executing the exchange of the digital currencies; and   wherein when the financial transaction is declined by the second user mobile station, a module on the mobile transaction platform preventing the execution of the exchange of the digital currencies.   
     
     
         14 . The financial service exchange platform according to  claim 12 , wherein the first user mobile station is in direct communication proximity to the second user mobile station. 
     
     
         15 . A financial service method that provides a cashless platform for enabling users to perform a direct financial transaction in a mobile environment, the method comprising:
 a first user mobile station accepting input financial information related to the financial transaction;   the first user mobile station proximally transferring selected financial information to a targeted second user mobile station;   the first user mobile station further automatically transmitting the financial information to a mobile transaction platform for authenticating the executability of the financial transaction;   if appropriate, the mobile transaction platform authenticating the transaction code, generating a corresponding digital authentication code, and concurrently transmitting the digital authentication code to the first user mobile station and to the second user mobile station, to confirm the authentication of the financial transaction;   the receipt of the digital authentication code by the second user mobile station empowering the second user station to determine whether to accept or reject the financial transaction;   upon acceptance of the financial transaction by the second user mobile station, the mobile transaction platform generating a digital transaction code, and transmitting the digital transaction code concurrently to the first user mobile station and to the second user mobile station, confirming the execution of the financial transaction; and   wherein the digital transaction code is stored on the second user mobile station for effecting one or more subsequent financial transaction.   
     
     
         16 . The financial service method according to  claim 15 , wherein any of the first and second user mobile station has the ability to cancel the execution of the financial transaction prior to acceptance by the second user mobile station.