NOVEL CURRENCY AND METHOD OF USING THE SAME

Fecha de publicación: 14/10/2022
Fuente: WIPO Meat
A currency, said currency having a value associated with a value of a commodity money or an exchange traded fund (ETF), wherein the commodity money or ETF has a value associated with an underlying commodity. The commodity money or ETF may be any commodity ETF or mutual fund including, but not limited to, a precious metal, non-precious metal or any metal, energy, livestock and meat, and agricultural, etc. commodity. The currency is digital currency, that is, not in a physical form such as a printed currency. Each unit of currency may have a unique identifier. The currency may be stored in the block chain. A a system or exchange of distributing the currency purchases and sells said commodity money/ETF in response to exchanges in out and of the currency. A purchase of goods or services using the currency results in a bookkeeping entry to track ownership of the currency.