Cisco universal money platform

Short description

Money is the blood of economy. Without it there is no real production, trade and consumption. If you look at the history of money, then we will see extraordinary progress. In the ancient world they used shells, then they were replaced by metal coins, then paper. At the present time money represents a set of "0" and "1" in computer. And its movement is simply information transfer across the network. Let's leave out the issue of "material support of money"; it is all a matter of faith and trust (in government, in the value of gold, dollar stability).

The development of network technologies was accompanied by the rapid growth of card systems (Visa, Maestro, etc.), the payment terminals in shops set in a network made it possible to abandon cash. It is logical to assume that further development of technology will follow the path of the personal terminal use, and it will certainly be the cell phone. Since, as we have said, in the modern world, the function of cash payments is a simple exchange of information, modern cell phone will perfectly cope with this task (see the idea of "Cisco E-Pocket").

This fact is followed by several key findings:

  1. KEY FINDING: Availability of personal payment terminal unbinds users (buyers and sellers) from the use of existing terminals of payment systems. Thus the monopoly of Visa, Maestro etc. on the running of our daily payment transactions will disappear.
  2. KEY FINDING: The absence of monopoly would lead to growth of proposals from companies offering alternative payment transactions service.
  3. KEY FINDING: Nothing will keep buyers and sellers from conducting the payment using different systems and different currencies.
  4. KEY FINDING: The reliability of the whole system will be determined by the reliability of network infrastructure and network services.
  5. KEY FINDING: As this trend can not be prevented, it must be lead.
The idea is to give the market the technology (platform + services) to conduct full-cycle cash flow and all the processes associated with it. Business (represented by companies or even individuals) with the help of this platform will be able to:
  1. emit own payment unit (if necessary);
  2. allow a credit;
  3. make payments in emitted currency or any other;
  4. provide maintenance of customer accounts;
  5. carry out calculations in other computational units with other users of "Cisco Universal Money Platform".

Users will be able to:

  1. use their cell phones as payment terminals (See the idea of "Cisco E-Pocket").
  2. Pay for services and goods.
  3. Receive and transfer money to other users.

A possible scenario:

A typical transition town. Such towns have already appeared in many different countries - USA, Japan, Australia and Italy. Their residents prefer to use local money, local products and services provided by representatives of local business, typical products of the global economy.

Municipality decides to introduce its own local currency "IPPOINT" for the development of the city. Having considered possible options, the municipality came to the conclusion - the best way to implement this project is to use "Cisco Universal Money Platform".

  1. At the portal "Cisco Universal Money Platform" municipality:
    1. registered a new currency;
    2. defined the settings of the emitting center (bank) (Person, who, when, how, etc.);
    3. adjusted the properties of currency (demurrage, loan interest, etc.);
    4. configured the security settings (the generation of the necessary certificates, keys, etc.).
  2. Residents of the city installed the Java application "Cisco E-pocket" to turn their cell phones into the personal payment terminals (See the idea of "Cisco E-pocket").
  3. Bank grants loans to the residents, making transfers to their electronic wallets.
  4. Residents are ready to conduct business operations (buy, sell, pay taxes, etc.).
It should be noted that there is no need to pre-arrange a bank account for each user. The account will appear at the time of the payment transaction.

Topic is relevant not only for the "transition towns", but also for other communities of people seeking to organize joint activities in a context where government financial and social institutions do not provide the desired support.

For example the owner of a small business can emit its own currency. He may pay part of the salary (or the whole) to the employees in this currency. A large company, rather than issuing shares or bonds may be interested in issuing its own payment unit. This can be of great interest e.g. for the power generating companies. Their emitted currency will be popular and demanded, because it can be supported by real assets.

Ideas "Cisco Universal Money Platform" and "Cisco E-Pocket" are complementary and are able to maintain a significant market share of payment transactions.

Competition is needed for the healthy development of society. It helps reduce the prices of goods and services and encourages the level of quality. There is competition between companies concerning the production of goods and services, competition among politicians in the form of elections, but there is no competition in concerning the use of payment units. The platform "Cisco Universal Money Platform" is able to fix it. This is especially relevant now, in the context of the ongoing global financial crisis.



Anuradha Udunuwara Anuradha Udunuwara


Hi Anna,

Thank you for submitting your idea to I-Prize. Can you help me understand the need for creating "own currencies"? I am also having trouble understanding how these custom currencies will conduct transactions with each other. Also, how do you envision accounts being created at the time of a payment transaction?



I will try to figure a clear example of why we may need local currency:

  1. I own a wind power plant, selling electricity, paying salaries to employees and service personnel in $.
  2. I decided to make my business more profitable and have registered my own currency "Points" on Cisco Universal Money Platform. I determined that 1 Point = 1 KW/h.
  3. All my employees possess Cisco E-Pocket. And at the end of the month received a part of the salary in $, and the other part in "Points".


  1. The employees can pay for electricity using "Points".
  2. The employees may pay other market participants (those who trust "Points") for goods and services.
  3. The market will begin using the new local currency "Points" like any other.
  4. The new currency is not subject to inflation and has strong support 1 Point = 1KW/h.
I, as the owner of the power plant, have reduced my costs through replacing a part of the cash flow by my own currency:
  1. I need less working capital in $.
  2. I need fewer loans in $ and, correspondingly, less loan servicing.
  3. Due to additional emission of my own currency, I can credit my own business.

To your second question:

Accounts are created automatically when you first use Cisco E-Pocket. This mechanism is described in the idea of Cisco E-Pocket in more detail. Anna Gossen Anna Gossen


Hi Anna, interesting concept on making micro currencies. Wondering what your thoughts are on how does the cost of management of the currencies compare to the benefits of implementing such a change? Just to clarify, are these currencies similar to a "stock option" for an employee as an additional benefit?


I think that the idea of E-Pocket and Cisco Universal Money Platform should be considered together. Money platform makes it easy to issue currency and E-Pocket allows billions of users to use it easily.

In fact the implementation of these ideas would undermine the monopoly of banks on running of monetary payments.

The uniqueness of the situation is that Cisco will be able to profit in any case. Having implemented the idea Cisco will benefit from the commission on the transactions conducted by billions of E-Pocket. Besides, I think that there will be enough of those willing to pay Cisco for not developing the ideas . Anna Gossen Anna Gossen


Hi Shanti, This is a very good iotnrmafive post. But it will be better if you give some recommendation in survey section.Thanks,Abhijit .Making Money Online recently posted..
Ceren Ceren
These are just ideas with no claim to be real inventions or to be radically new. But who knows, may be some of them will write the future. They are open for discussion. You can view and comment on the ideas in these categories. If you'd like to suggest a new category or post your own idea, please don't hesitate to contact us.
"I can't understand why people are frightened of new ideas. I'm frightened of the old ones."

John Cage

Cisco Selects Winner of Global I-Prize Innovation Contest
Find out more about Cisco I−Prize, the contest which was the main reason to build the AKS-team and start generating ideas.
Listen to the podcast in the German language about the winning idea and the contest.
Podcast about the winning idea and the contest
Or watch the video on youtube, on which Anna is telling the success story of our energy idea.