A system and method for permitting gold or other commodities to circulate as currency requires a network of system users that participate in financial transactions where payment is made in units of gold. The gold is kept in secure storage at a deposit site for the benefit of the users. The payments in gold are effected through a computer system having data storage and transaction processing programs that credit or debit the units of account of gold held for the account of each system user.
RELATED APPLICATIONS
This is a continuation application of co-pending U.S. patent application Ser. No. 09/340,566 filed 28 Jun. 1999 entitled "Electronic Cash Eliminating Payment Risk" which is a divisional application of U.S. patent application Ser. No. 08/921,760 filed 26 Aug. 1997 (now issued as U.S. Pat. No. 5,983,207) entitled "Electronic Cash Eliminating Payment Risk", which is a continuation in part of application Ser. No. 08/465,430, filed 5 Jun. 1995 (now issued as U.S. Pat. No. 5,671,364) entitled "Method and Systems for Commodity-Based Currency for Payment of Accounts and Elimination of Payment Risk"; which is a continuation in part of application Ser. No. 08/015,588, 10 Feb. 1993 entitled "Method and Systems for Commodity-Based Currency for Payment of Accounts"; now abandoned.
