Patents Assigned to DARIC, INC.
  • Payment System and Method Using Commodity-Based Electronically Traded Funds
    Publication number: 20120239543
    Abstract: A system and a method are disclosed for using a commodity-based exchange traded fund (ETF) to implement an electronic payment currency. The commodity-based ETF provides an inflation mirror using a basket of tradable commodities such as metals, energy, agricultural products, etc. Shares of the commodity-based ETF function as an electronic currency unit for use in transactions. A user may direct the system to transfer shares of the commodity-based ETF to a merchant in exchange for non-currency consideration such as goods and services.
    Type: Application
    Filed: March 19, 2012
    Publication date: September 20, 2012
    Applicant: DARIC, INC.
    Inventor: Gregory Paul Ryan