Patents by Inventor Lawrence Mark Sweet

Lawrence Mark Sweet has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Patent number: 11354662
    Abstract: An embodiment of the present invention is directed to a system utilizing a new form of digital cash held by users in deposit accounts with banks, backed by central bank liquidity and recorded on a centralized ledger, for making payment, in a single currency or cross-currency. An embodiment of the present invention simultaneously, instantly and finally makes the corresponding adjustments to the assets and liabilities of all banks in the correspondent chain on the ledger between the payer and payee for a payment in a single currency. For cross-currency payments, an embodiment of the present invention provides competitive rates from foreign exchange traders; settles the payment and the associated foreign exchange transaction in a new form of integrated tri-party transaction which is instant and legally final for the payer, payee and foreign exchange trader; and simultaneously, instantly and finally makes corresponding adjustments to the ledger for all associated parties.
    Type: Grant
    Filed: February 10, 2021
    Date of Patent: June 7, 2022
    Assignee: Izzi, Inc.
    Inventor: Lawrence Mark Sweet
  • Publication number: 20210248602
    Abstract: An embodiment of the present invention is directed to a system utilizing a new form of digital cash held by users in deposit accounts with banks, backed by central bank liquidity and recorded on a centralized ledger, for making payment, in a single currency or cross-currency. An embodiment of the present invention simultaneously, instantly and finally makes the corresponding adjustments to the assets and liabilities of all banks in the correspondent chain on the ledger between the payer and payee for a payment in a single currency. For cross-currency payments, an embodiment of the present invention provides competitive rates from foreign exchange traders; settles the payment and the associated foreign exchange transaction in a new form of integrated tri-party transaction which is instant and legally final for the payer, payee and foreign exchange trader; and simultaneously, instantly and finally makes corresponding adjustments to the ledger for all associated parties.
    Type: Application
    Filed: February 10, 2021
    Publication date: August 12, 2021
    Inventor: Lawrence Mark Sweet