MINNEAPOLIS, MN - October 24, 2008 - Two revolutionary business methods patents, designed to reshape and rationalize the financial-services industry, will go on the auction block on October 30, in Chicago, a Minneapolis firm has announced. The patents describe a workable new approach for enhancing credit-card processing and e-commerce to unleash new economic resources.

View video introduction to DualCurrency Commerce:
http://www.solutionstwincities.org/videos/dual_currency.htm#anchor

DualCurrency Systems (DCS) of Minneapolis (www.DualCurrency.com) announced that its two business-methods patents for dual-currency pricing, accounting and transaction-settlement systems "“ awarded in 1997 "“ will be auctioned off in Chicago on October 30, 2008 as part of the Ocean Tomo Live Fall Auction. (The auction's online catalogue can be viewed at
(http://www.oceantomoauctions.com/OTA_Catalogue_Lot.asp?eventid=102008&Lot=39.)

According to DCS Founder Joel Hodroff, "The growing global economic crisis bids us to revamp our outdated economic theories, financial systems and monetary tools. Behind the current reality of scarce financial resources, lies a deeper reality of abundant renewable resources and a high-tech global infrastructure to distribute them. Food, shelter, safe drinking water, renewable energy, education and health care can all be made abundantly available "“ once we solve our problem with money."

Hodroff explained that DCS is opting to auction its patents because it has been unable to raise needed venture funding to bring its novel payments platform to market. "We are selling our patents at auction to realize some gain for our investors and to allow an industry leader with sufficient resources to deploy this sweeping innovation in the United States and globally," said Hodroff. "Our patents have equally valuable commercial and social applications," he added. "We hope that they will be acquired by a community-minded company with the vision to realize their full potential for creating sustainable commerce and a more level economic playing field."

Under the terms of the auction IP Sales Agreement, DualCurrency Systems will retain a non-exclusive, fully paid-up, worldwide license with which to continue its work. The company intends to join forces with public-policy and academic think tanks as well as with corporate-product innovations departments in banking, payment systems, loyalty rewards, card services and e-commerce.

Rallying the socially responsible and sustainable business communities
"We are a tiny company with a huge idea," said Hodroff. "For the patents to do the most good, we need to reach leaders of the socially responsible and sustainable-business movements."

Companies regarded as committed to corporate social responsibility, which Hodroff suggested could "run with this innovation," include Google, eBay, IBM, Microsoft, VISA, American Express, Citigroup and Wal-Mart, among others. Hodroff called for "every interested party" to encourage leaders throughout the country "“ company CEOs and government regulators, academic visionaries and community organizers, politicians and policymakers "“ to consider DualCurrency strategies in addressing the economic crisis that has stricken the country. In mid-October, the company launched a viral email campaign to spread the word on its fresh approach to sustainable economic development and financial-industry restructuring.

See http://www.dualcurrency.com/new_money_for_economic_crisis.htm

Next-generation payments platform and reward programs
On the commercial side, the company devised "Universal Rewards Solutions," a program permitting any participating merchant using standard credit card, debit card or e-commerce tools to accept points from any participating loyalty-reward program as partial payment in a transaction. This would help now-frustrated consumers to redeem the trillions of frequent flyer miles and other reward points currently stocked-piled in their accounts. It would also drive much needed traffic to participating merchants and additional transaction revenues to payment-systems operators.

See http://www.dualcurrency.com/files/UniversalRewardSolns.pdf

Another commercial application is "HealthBucks," a wellness-incentives program designed to improve public health while lowering health-care costs for employers, employees and taxpayers alike. Current wellness incentives, such as gift cards, are expensive for employers and health-care systems. Inexpensive alternatives such as logo gear are generally not sufficient to compel healthy lifestyle changes among employees. HealthBucks incentives would look and spend like cash, yet would only cost employers only pennies on the dollar. This is because HealthBucks would be backed by merchants’ currently underutilized business capacity (empty restaurant tables, empty college desks, off-hours at health clubs and oil change shops, unsold retail inventories), all made available on a part-cash; part-HealthBucks basis.

See http://www.dualcurrency.com/files/HealthBucks.pdf

As Hodroff observed, "DualCurrency Commerce releases currently wasted wealth throughout the economy to move us beyond the zero-sum-game of traditional economics and commerce. It poses a unique win-win proposition for all business stakeholders, owners/investors, employees, customers and communities alike. Once DualCurrency systems are built and operating, the value proposition will be obvious to all, just as we now see the superiority of paper currency over gold coins and electronic banking over paper currency."

About DualCurrency Systems:
DualCurrency Systems (DCS) of Minneapolis, MN, holds the first issued U.S. Patents for a next-generation payments platform for banks, card processors and e-payments intermediaries. The DCS system exploits a significant inefficiency in the market. It captures currently overlooked wealth, such as empty restaurant tables, empty college desks, off-hours at health clubs and oil change shops, and unsold retail inventories. The system uses a proprietary financial instrument - part barter dollar; part business scrip - to stretch consumer cash, as well as a Virtual Community Warehouse to store the new assets. Additional purchasing power is delivered to Network consumers through increased employee benefits that don’t raise cash labor costs for employers; incentives for wellness behaviors; supplements to Social Security that don’t raise taxes on businesses or individuals; and rewards for community volunteerism.
(See www.DualCurrency.com.)

DualCurrency Systems

DualCurrency Systems

The growing global economic crisis bids us to revamp our outdated financial systems and monetary tools. The solution lies where few individuals and organizations are even looking; in the very nature of money itself. Behind the illusion of scarce material and financial resources, lies a reality of abundant renewable resources and a high-tech global infrastructure to distribute them. DualCurrency Systems (DCS) pursues sustainable global economic development strategies through Money Innovation and next generation payment systems. In 1997, the company was awarded two U.S. Patents for its novel DualCurrency Pricing, Accounting and Transaction Settlement system. The system manages transactions in a combination of U.S. dollars and noncash financial instruments, such as loyalty rewards, barter dollars or business scrip. DCS has designed a DualCurrency payment system and Virtual Community Warehouse to manage innovative incentive programs, including HealthBucks, wellness incentives to lower employer and employee health care costs; EcoBucks, sustainable living incentives, to reward behaviors such as recycling, carpooling and alternative energy use; and Community Service Dollars, volunteer incentives to promote healthy communities. Because of challenges in raising money and getting its system into the market, the company has put its two business methods patents for restructuring the financial services industry into an auction to be held on October 30, 2008 in Chicago. See: www.dualcurrency.com/new_money_for_economic_crisis.htm

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