Distributed system for trade using metallic currency

Abstract

The present disclosure provides a distributed system, a computing device and a method for trade using metallic currency. The distributed system includes computing devices registered with the distributed system, metallic currency units (200), and stored information associated with the metallic currency unit(s) (200) that includes identification information, ownership 5 information and passcode of the metallic currency unit(s) (200) which is also embedded in the metallic currency unit(s) (200). Trading is done using metallic currency through the transfer of ownership of the metallic currency unit(s) (200) by the distributed system from any geographic location. The metallic currency unit (200) has an inherent value associated with the quantity of a metal of high economic value included in the metallic currency unit 0 (200). Therefore, the metallic currency can serve as a common currency for international and national trade.

Description

DISTRIBUTED SYSTEM FOR TRADE USING METALLIC CURRENCYTECHNICAL FIELD

[0001] The present disclosure relates to the field of distributed system for trade. In particular, the present disclosure relates to distributed system for trade using metallic currency.BACKGROUND

[0002] Background description includes information that may be useful in understanding the present disclosure. It is not an admission that any of the information provided herein is prior art or relevant to the presently claimed disclosure, or that any publication specifically or implicitly referenced is prior art.

[0003] Every country in the world depends on its forex reserve or foreign exchange reserves or currency exchange / conversion using a currency basket for international trade.

[0004] Any country’s currency as generally understood is representative in nature, i.e., a currency unit represents a value (face value) but has little or no value on its own. For example, a banknote or a paper money of a country does not have any intrinsic value but just represents a value indicated on the banknote and is considered a legal tender generally within the country’s territorial limits. But, the value of representative currency fluctuates and with the passage of time the value decreases which is manifested as inflation.

[0005] Therefore, there is a need to overcome the drawbacks mentioned above.OBJECTS OF THE PRESENT DISCLOSURE

[0006] Some of the objects of the present disclosure, which at least one embodiment herein satisfies are as listed herein below.

[0007] The principal object of the present disclosure is to provide a system for trade using a common currency of inherent value.

[0008] Another object of the present disclosure is to provide a system for trade using a common currency of inherent value which can be accessed and utilized irrespective of the geographic location.

[0009] Another object of the present disclosure is to provide a common currency of inherent value for national and international trade.SUMMARY

[0010] The present disclosure relates to the field of distributed system for trade. In particular, the present disclosure relates to distributed system for trade using metallic currency.

[0011] In an aspect, the present disclosure relates to a distributed system for trade using metallic currency. The distributed system includes the following components. One or more metallic currency units including an information associated with the metallic currency unit embedded in the metallic currency unit, where the information includes an identification information, an ownership information, and a passcode. A plurality of computing devices registered with the distributed system for trade using the one or more metallic currency units. One or more processors and a memory operatively coupled to the one or more processors, where the memory stores executable instructions. When the stored executable instructions are executed by the one or more processors, the one or more processors perform the following steps. The one or more processors store a data structure with the information associated with the one or more metallic currency units. The one or more processors register the plurality of computing devices with the distributed system. The one or more processors receive a transfer of ownership request for the one or more metallic currency units with the information associated with the one or more metallic currency units via a computing device, where the transfer of ownership is associated with a change in the information in the data structure and the information embedded in the one or more metallic currency units. The one or more processors authenticate the transfer of ownership request for the one or more metallic currency units by comparing the information associated with the one or more metallic currency units received with the transfer of ownership request and the information stored in the data structure. The one or more processors change the ownership information associated with the one or more metallic currency units in the data structure and the ownership information embedded in the one or more metallic currency units based on the authentication of the transfer of ownership.

[0012] In an aspect, the present disclosure relates to a computing device for trade using metallic currency. The computing device includes the following components. One or more purity checking devices communicatively coupled to the computing device via a network, where the one or more purity checking devices are configured to identify a purity associated with one or more metallic currency units. One or more processors and a memory operatively coupled to the one or more processors, where the memory stores executable instructions. When the stored executable instructions are executed by the one or more processors, the one or more processors perform the following steps. The one or more processors register thecomputing device on a distributed system for trade using the one or more metallic currency units. The one or more processors identify the purity of the one or more metallic currency units via the one or more purity checking devices. The one or more processors read an information associated with the one or more metallic currency units embedded in the one or more metallic currency units, where the information comprises an identification information, an ownership information, and a passcode. The one or more processors transmit a transfer of ownership request with the information associated with the one or more metallic currency units to the distributed system. The one or more processors receive a response from the distributed system based on the transfer of ownership request. The one or more processors change the ownership information embedded in the one or more metallic currency units based on the response.

[0013] In an embodiment of the distributed system and the computing device, the metallic currency unit may include a quantity of a metal which may include but not limited to one of a gold bar, a platinum bar, and a silver bar, an identification number for international trade, an identification number for national trade, a logo of the distributed system which may indicate the authenticity of the metallic currency unit, an identification associated with a country of origin. Further, the metallic currency unit may include a chip with the information associated with the metallic currency unit, where the information may include a specimen information including a metal information, a metal quantity information, a maker information, a minting facility information, a metal origin information, and an approving facility information. The chip may also include the identification information which may include the identification numbers for international and national trade, the ownership information, and the passcode.

[0014] In an embodiment of the distributed system and the computing device, the embedded information in the metallic currency unit may be in an encrypted form.

[0015] In an embodiment of the distributed system, the one or more processors may receive the information associated with the one or more metallic currency units stored with one or more smart storage units at predetermined intervals of time based on a registration of the one or more storage units with the distributed system.

[0016] In an aspect, the present disclosure relates to a smart storage unit for a secure storage of metallic currency. The smart storage unit includes one or more metallic currency holding units with one or more scanners to store one or more metallic currency units, wherein each of the metallic currency holding units is configured with a scanner to read an information associated with the one or more metallic currency units embedded in the one or more metallic currency units. The smart storage unit further includes one or more controllerscommunicatively coupled with a distributed system via a network for trade using the one or more metallic currency units and a memory operatively coupled to the one or more controllers, where said memory stores executable instructions. When the executable instructions are executed by the one or more controllers, the one or more controllers perform the following steps. The one or more controllers register the smart storage unit with the distributed system. The one or more controllers read the information associated with the one or more metallic currency units stored with the smart storage unit via the one or more scanners at predetermined intervals. The one or more controllers transmit the information to the distributed system.

[0017] In an aspect, the present disclosure relates to a method for trade using metallic currency. The method includes the following steps. One or more processors associated with a distributed system storing a data structure with an information associated with one or more metallic currency units, where the information associated with the metallic currency unit is embedded in the metallic currency unit, and where the information comprises an identification information, an ownership information, and a passcode. The one or more processors registering a plurality of computing devices with the distributed system. The one or more processors receiving a transfer of ownership request for the one or more metallic currency units with the information associated with the one or more metallic currency units via a computing device, where the transfer of ownership is associated with a change in the information in the data structure and the information embedded in the one or more metallic currency units. The one or more processors authenticating the transfer of ownership request for the one or more metallic currency units by comparing the information associated with the one or more metallic currency units received with the transfer of ownership request and the information stored in the data structure. The one or more processors changing the ownership information associated with the one or more metallic currency units in the data structure and the ownership information embedded in the one or more metallic currency units based on the authentication of the transfer of ownership.

[0018] In an embodiment, the metallic currency unit may include the following. A quantity of a metal which may include but not limited to one of a gold bar, a platinum bar, and a silver bar, an identification number for international trade, an identification number for national trade, a logo of the distributed system which may indicate the authenticity of the metallic currency unit, an identification associated with a country of origin. The metallic currency may further include a chip with the information associated with the metallic currency unit, where the information may include a specimen information which may include a metalinformation, a metal quantity information, a maker information, a minting facility information, a metal origin information, and an approving facility information. The chip may also include the identification information which may include the identification numbers for international and national trade, the ownership information, and the passcode.

[0019] In an embodiment, the embedded information in the metallic currency may be in an encrypted form.

[0020] In an embodiment, the one or more processors may receive, the information of the one or more metallic currency units stored with one or more smart storage units at predetermined intervals of time based on a registration of the one or more storage units with the distributed system.BRIEF DESCRIPTION OF DRAWINGS

[0021] The accompanying drawings are included to provide a further understanding of the present disclosure, and are incorporated in, and constitute a part of this specification. The drawings illustrate exemplary embodiments of the present disclosure, and together with the description, serve to explain the principles of the present disclosure.

[0022] In the figures, similar components, and / or features may have the same reference label. Further, various components of the same type may be distinguished by following the reference label with a second label that distinguishes among the similar components.

[0023] FIG. 1A illustrates an example distributed system (102), in accordance with an embodiment of the present disclosure.

[0024] FIG. IB illustrates an example distributed system (102) with the structural and functional components, in accordance with an embodiment of the present disclosure.

[0025] FIG. 2 illustrates an example metallic currency unit (200), in accordance with an embodiment of the present disclosure.

[0026] FIG. 3 illustrates an example online international trade using metallic currency unit(s), in accordance with an embodiment of the present disclosure.

[0027] FIG. 4 illustrates an example transfer of ownership of metallic currency unit(s) in international trade, in accordance with an embodiment of the present disclosure.

[0028] FIG. 5 illustrates an example of online purity checking through a purity checking device to identify the purity of metal in the metallic currency unit, in accordance with an embodiment of the present disclosure.

[0029] FIG. 6 illustrates an example of smart storage unit (600) for a secure storage and online monitoring of metallic currency, in accordance with an embodiment of the present disclosure.

[0030] FIG. 7 illustrates an example method (700) for trading using metallic currency, in accordance with an embodiment of the present disclosure.DETAILED DESCRIPTION

[0031] The following is a detailed description of embodiments of the disclosure depicted in the accompanying drawings. The embodiments are in such detail as to clearly communicate the disclosure. However, the amount of detail offered is not intended to limit the anticipated variations of embodiments; on the contrary, the intention is to cover all modifications, equivalents, and alternatives falling within the spirit and scope of the present disclosure as defined by the appended claims.

[0032] The ensuing description provides exemplary embodiments only, and is not intended to limit the scope, applicability, or configuration of the disclosure. Rather, the ensuing description of the exemplary embodiments will provide those skilled in the art with an enabling description for implementing an exemplary embodiment. It should be understood that various changes may be made in the function and arrangement of elements without departing from the spirit and scope of the disclosure as set forth.

[0033] The various aspects of the present disclosure are described with respect to FIG. 1A to FIG. 6.

[0034] The present disclosure relates to the field of distributed system for trade. In particular, the present disclosure relates to distributed system for trade using metallic currency.

[0035] In an aspect, the present disclosure relates to a distributed system for trade using metallic currency. FIG. 1A illustrates an example distributed system (102), in accordance with an embodiment of the present disclosure. In an embodiment, the distributed system (102) may include the following components. One or more metallic currency units that may include an information associated with the metallic currency unit embedded in the metallic currency unit, and where the information may include an identification information, an ownership information, and a passcode. A plurality of computing devices (collectively referred to as 106 herein) which may be registered with the distributed system (102) for trade using the one or more metallic currency units and where communication is happening over a network (104).

[0036] FIG. IB illustrates an example distributed system (102) with the structural and functional components, in accordance with an embodiment of the present disclosure. Referring to FIG. IB, in an embodiment, the distributed system (102) may include one or more processors (108) that may be implemented as one or more microprocessors, microcomputers, microcontrollers, digital signal processors, central processing units, logic circuitries, and / or any devices that process data based on operational instructions. Among other capabilities, the one or more processors (108) may be configured to fetch and execute computer-readable instructions stored in a memory (110) of the distributed system (102). The memory (110) may be configured to store one or more computer-readable instructions or routines in a non-transitory computer readable storage medium, which may be fetched and executed to create or share data packets over a network service. The memory (110) may comprise any non-transitory storage device including, for example, volatile memory such as random-access memory (RAM), or non-volatile memory such as erasable programmable read only memory (EPROM), flash memory, and the like.

[0037] In an embodiment, the distributed system (102) may include an interface(s) (112). The interface(s) (112) may include a variety of interfaces, for example, interfaces for data input and output devices, referred to as I / O devices, storage devices, and the like. The interface(s) (112) may facilitate communication to / from the distributed system (102). The interface(s) (112) may also provide a communication pathway for one or more components of the distributed system (102). Examples of such components include, but are not limited to, a processing unit / engine(s) (114) and a local database (116). In an embodiment, the local database (116) may be separate from the distributed system (102).

[0038] In an embodiment, the processing engine(s) (114) may be implemented as a combination of hardware and programming (for example, programmable instructions) to implement one or more functionalities of the processing engine(s) (114). In examples described herein, such combinations of hardware and programming may be implemented in several different ways. For example, the programming for the processing engine(s) (114) may be processor-executable instructions stored on a non-transitory machine -readable storage medium and the hardware for the processing engine(s) (114) may comprise a processing resource (for example, one or more processors), to execute such instructions. In the present examples, the machine-readable storage medium may store instructions that, when executed by the processing resource, implement the processing engine(s) (114). In such examples, the distributed system (102) may comprise the machine-readable storage medium storing the instructions and the processing resource to execute the instructions, or the machine-readablestorage medium may be separate but accessible to the distributed system (102) and the processing resource. In other examples, the processing engine(s) (114) may be implemented by electronic circuitry.

[0039] In an aspect, when the stored executable instructions on the memory (110) are executed by the one or more processors (108), the one or more processors (108) may perform the following steps. The one or more processors (108) via the processing engine (114) may store a data structure with the information associated with the one or more metallic currency units. The one or more processors (108) via the processing engine (114) may register the plurality of computing devices (106) with the distributed system (102). The one or more processors (108) via the processing engine (114) may receive a transfer of ownership request for the one or more metallic currency units with the information associated with the one or more metallic currency units via a computing device (106), where the transfer of ownership is associated with a change in the information in the data structure and the information embedded in the one or more metallic currency units. The one or more processors (108) via the processing engine (114) may authenticate the transfer of ownership request for the one or more metallic currency units by comparing the information associated with the one or more metallic currency units received with the transfer of ownership request and the information stored in the data structure. The one or more processors (108) may change the ownership information associated with the one or more metallic currency units in the data structure and the ownership information embedded in the one or more metallic currency units based on the authentication of the transfer of ownership.

[0040] In an exemplary embodiment, the data structure containing the information associated with the one or more metallic currency units may be stored as a blockchain or a distributed ledger in a blockchain network that may include a number of devices to store the data structure.

[0041] In an aspect, the present disclosure relates to a computing device for trading using metallic currency. Referring to FIG. 1A, in an embodiment, the computing device for trade using metallic currency may be similar to the computing device (106). The computing device (106) may include the following components. One or more purity checking devices communicatively coupled to the computing device (106) via a network (104), where the one or more purity checking devices are configured to identify a purity associated with one or more metallic currency units. The computing device may perform the following steps. The computing device (106) may register on a distributed system for trade using the one or more metallic currency units. In an exemplary embodiment, the distributed system may be similarto the distributed system (102) illustrated in FIG. 1A. The computing device (106) may identify the purity of the one or more metallic currency units via the one or more purity checking devices. The computing device (106) may read an information embedded in the one or more metallic currency units, where the information may include an identification information, an ownership information, and a passcode. The computing device (106) may transmit a transfer of ownership request with the information associated with the one or more metallic currency units to the distributed system (102). The computing device (106) may receive a response from the distributed system (102) based on the transfer of ownership request. The computing device (106) may change the ownership information embedded in the one or more metallic currency units based on the response.

[0042] In an exemplary embodiment of the distributed system (102) and the computing device (106), the transfer of ownership of the one or more metallic currency units may be happening for trade (international or national) from a first entity who is the prior owner of the one or more metallic currency units (before the transfer of ownership) to a second entity who may be the owner of the one or more metallic currency units after a successful transfer of ownership. The transfer of ownership is happening between the two entities who may be at two different geographic locations. The computer device (106) registered with the distributed system (102) for trade using metallic currency may identify the purity of the one or more metallic currency units via the one or more purity checking devices and transmit a transfer of ownership request along with the information associated with the one or more metallic currency units to the distributed system (102) to transfer the ownership from the first entity to the second entity. The information associated with the one or more metallic currency units may include the information that the first entity is privy to as an owner, and also, the information that is embedded in the one or more metallic currency units (same information in both the cases). For authenticating the transfer of ownership of the one or more metallic currency units, the distributed system (102) may compare the information in the data structure associated with the one or more metallic units for which the transfer of ownership request has been received with the information received along with the transfer of ownership request. The distributed system (102) may authenticate the transfer of ownership if the information in the database is the same as the information received with the transfer of ownership request, change the ownership information in the database, and also change the ownership information embedded in the one or more metallic currency units via the computer device (106). In an exemplary embodiment, the distributed system may also inform the second entity of the successful transfer of ownership and the changed information associatedwith the one or more metallic currency units via the same computing device (106) or a different computing device (106).

[0043] FIG. 2 illustrates an example metallic currency unit (collectively or individually referred to as 200 herein) with the front view (202) and the back view (204), in accordance with an embodiment of the present disclosure. In an exemplary embodiment of the distributed system (102) and the computing device (106), the metallic currency unit (200) may include a quantity of a metal which may include but not limited to one of gold, platinum, and silver. FIG. 2 illustrates the metallic currency (200) with 1 kilogram (KG) of gold bar (208). The metallic currency (200) may have an identification number (214) for international trade and an identification number (216) for national trade. The identification numbers may be from two different series. One number may be from a first series for international trade and may be called International Common Gold Exchange Currency series (ICGC) number. One number may be from a second series for national trade and may be called National Common Gold Exchange Currency series (NCGC) number. The metallic currency unit (200) may have a logo or stamp of the distributed system (222) indicating the authenticity of the metallic currency unit (200). In the example metallic currency unit (200) illustrated in FIG. 2 the distributed system is called an ODFTS, an acronym for Online Direct Forex Trade System. Therefore, an example logo / stamp reads “ODFTS stamp” (222) in the figure. The purity of the metal (220) and year of minting (224) of the metallic currency unit (200) may also be indicated on the metallic currency unit (200). The metallic currency (200) may have an identification associated with a country of origin (212). The metallic currency unit (200) may have a chip (210) with the information associated with the metallic currency unit (200), where the information may include the following. A specimen information which may include a metal information, a metal quantity information, a maker information, a minting facility information, a metal origin information, and an approving facility information. The chip (210) may also include the identification information which may include the identification numbers for international and national trade, the ownership information, and the passcode. The chip (210) may be called Metallic Exchange Currency (MEC) chip. In the example illustrated in FIG. 2, the example metallic currency has been named "National & International Common Currency” (218).

[0044] In an embodiment of the metallic currency (200), the embedded information may be in an encrypted form which may make the information embedded in the metallic currency unit (200) secure from tampering. The distributed system (102) may decrypt the encryptedinformation associated with the one or more metallic currency units received with the transfer of ownership request before authenticating the transfer of ownership.

[0045] FIG. 3 illustrates an example online international trade (300) using metallic currency unit(s), in accordance with an embodiment of the present disclosure. Each country participating in trading (may be called online direct forex trade) using metallic exchange currency through an example distributed system (102) called Online Direct Forex Trade System (ODFTS) may have forex reserves as show in the FIG. 3, where the numbers are that of gold weight in kilograms (kg). For example, Country 2 (302) has a forex reserve of 7018 kg of common gold currency (metallic currency) and Country 4 has a forex reserve of 7072 kg of common gold currency. FIG. 4 illustrates an example transfer of ownership (400) of metallic currency unit(s) in international trade, in accordance with an embodiment of the present disclosure. At step 402, the initial forex reserve in common gold currency may be shown. At step 404, 14 units (kg) of common gold currency are transferred from the forex reserve of Country 4 into the forex reserve of Country 2. At step 406, the forex reserve in common gold currency of the two countries involved in trade after transfer of ownership may be shown, where the forex reserve of Country 2 has increased by 14 units totalling 7032 units and the forex reserve of Country 4 has decreased by 14 units totalling 7058 units. Similarly, considering that Country 4 subsequently may be involved in an international trade with Country 5, Country 6, and Country 7 with forex reserves in common gold currency of 4013 units, 2006 units and 8023 units respectively. Assuming that Country 4 transfers ownership of 13 units, 11 units and 19 units of common gold currency during the international trade to Country 5, Country 6, and Country 7 respectively. The forex reserves of Country 4, Country5, Country 6,^ and Country 7 after the ownership transfer will be 7015 units, 4026 units, 2017 units and 8042 units respectively.

[0046] FIG. 5 illustrates an example of online purity checking (500) through a purity checking device (508) to identify the purity (510) of the metal in a specimen / sample metallic currency unit (512), in accordance with an embodiment of the present disclosure. In an exemplary embodiment, the purity (510) of a metallic currency unit (512) may be identified by a computing device (506) at a geographic location in Country 1 via the purity checking device (508), and the data may be transmitted over network (502) to a computing device (504) at a geographical location in Country 2 via the distributed system. The distributed system, network (502), computing devices (506) and (504) are similar to distributed system (102), network (104) and computing devices (106) shown in FIG.1A.

[0047] In an embodiment of the distributed system (102), the distributed system (102) may receive the information associated with the one or more metallic currency units (200) at predetermined intervals of time based on a registration of the one or more storage units with the distributed system (102). FIG. 6 illustrates an example of smart storage unit (600) for a secure storage and online monitoring of metallic currency, in accordance with an embodiment of the present disclosure.

[0048] In an aspect, the present disclosure may include a smart storage unit for a secure storage of metallic currency. The storage unit may be similar to the storage unit (600) shown in FIG. 6. The smart storage unit (600) may include one or more metallic currency holding units (collectively or individually referred to as 602 herein) with one or more scanners (collectively or individually referred to as 604 herein) to store one or more metallic currency units (200), wherein each of the metallic currency holding units (602) is configured with a scanner (604) to read an information associated with the one or more metallic currency units (200) embedded in the one or more metallic currency units. In an exemplary embodiment the scanner (604) may read the information associated with a metallic currency unit (200) from the chip (210). The scanners (604) may be connected to a scanner panel (608) via connection lines (606). In an exemplary embodiment the scanners (604) may be cameras. The smart storage unit (600) may be communicatively coupled via a network (610) with a distributed system (102) for trade using the one or more metallic currency units. The distributed system and the network (610) may be similar to the distributed system (102) and network (104) shown in FIG. l. The smart storage unit (600) may perform the following steps. The smart storage unit (600) may register with the distributed system (102). The smart storage unit (600) may read the information associated with the one or more metallic currency units (200) stored with the smart storage unit (600) via the one or more scanners (604) at predetermined intervals. The smart storage unit (600) may transmit the information to the distributed system (102). In an exemplary embodiment, two entities before a trade related transaction may from any geographic location (616) via a computing device (similar to 106 of FIG. 1) verify online the safe custody and existence (612) of the one or metallic currency units (200) at a location (614) via the distributed system (102).

[0049] In an aspect, the present disclosure relates to a method for trade using metallic currency. FIG. 7 illustrates an example method (700) for trade using metallic currency, in accordance with an embodiment of the present disclosure. The method (700) may include the following steps. At step 702, one or more processors associated with a distributed system may store a data structure with an information associated with one or more metallic currencyunits, where the information associated with the metallic currency unit may be embedded in the metallic currency unit, and where the information may include an identification information, an ownership information, and a passcode. The distributed system may be similar to the distributed system (102) shown in FIG. 1A and the one or more processors may be a part of the distributed system as shown in FIG. IB. At step 704, the one or more processors may register a plurality of computing devices with the distributed system. At step 706, the one or more processors may receive a transfer of ownership request for the one or more metallic currency units with the information associated with the one or more metallic currency units via a computing device, where the transfer of ownership may be associated with a change in the information in the data structure and the information embedded in the one or more metallic currency units. At step 708, the one or more processors may authenticate the transfer of ownership request for the one or more metallic currency units by comparing the information associated with the one or more metallic currency units received with the transfer of ownership request and the information stored in the data structure. At step 710, the one or more processors may change the ownership information associated with the one or more metallic currency units in the data structure and the ownership information embedded in the one or more metallic currency units based on the authentication of the transfer of ownership.ADVANTAGES OF THE PRESENT DISCLOSURE

[0050] The present disclosure provides a distributed system using a metallic currency which can be accessed and utilized irrespective of the geographic location.

[0051] The present disclosure provides a computer device for trade using a metallic currency of inherent value, and a smart storage unit for secure storage and real time monitoring of the metallic currency.

[0052] The present disclosure provides a metallic currency based on a weight of a metal of high economic value included in the metallic currency, i.e., the metallic currency has inherent value. Therefore, the metallic currency need not be converted and can be used as a common currency for international and national trade. Also, there will be appreciation in the value of the metallic currency as the economic value of the metal increases.

[0053] The present disclosure provides a distributed system for trade using a metallic currency through which online purity checking and existence confirmation of the metallic currency is possible from any geographic location irrespective of the geographic location of the metallic currency.

Claims

We Claim:

1. A distributed system (102) for using metallic currency, the distributed system (102) comprising: one or more metallic currency units (200), comprising an information associated with the metallic currency unit (200) embedded in the metallic currency unit (200), wherein the information comprises an identification information, an ownership information, and a passcode; a plurality of computing devices (106) registered with the distributed system (102) for trade using the one or more metallic currency units (200); one or more processors (108); and a memory (110) operatively coupled to the one or more processors (108), wherein said memory (110) stores executable instructions which when executed by the one or more processors (108), cause the one or more processors (108) to: store a data structure with the information associated with the one or more metallic currency units (200); register the plurality of computing devices (106) with the distributed system (102); receive a transfer of ownership request for the one or more metallic currency units (200) with the information associated with the one or more metallic currency units (200) via the computing device (106), wherein the transfer of ownership is associated with a change in the information in the data structure and the information embedded in the one or more metallic currency units (200); authenticate the transfer of ownership request for the one or more metallic currency units (200) by comparing the information associated with the one or more metallic currency units (200) received with the transfer of ownership request and the information stored in the data structure; and change the ownership information associated with the one or more metallic currency units (200) in the data structure and the ownership information embedded in the one or more metallic currency units (200) based on the authentication of the transfer of ownership wherein the metallic currency unit (200) comprises: a quantity of a metal comprises one of: a gold bar, a platinum bar, and a silver bar; an identification number for international trade (214);an identification number for national trade (216); a logo (222) of the distributed system (102) indicating the authenticity of the metallic currency unit (200); an identification associated with a country of origin (212); and a chip (210) with the information associated with the metallic currency unit (200), wherein the information comprises: a metal information, a metal quantity information, a maker information, a minting facility information, a metal origin information, and an approving facility information; the identification information comprising the identification numbers for international and national trade; the ownership information; and the passcode.

2. The distributed system (102) as claimed in claim 1, wherein the distributed system (102) comprising: one or more purity checking devices (508) communicatively coupled to the computing device (106) via a network (502), wherein the one or more purity checking devices (508) are configured to identify a purity (510) associated with one or more metallic currency units (200); one or more processors; and a memory operatively coupled to the one or more processors, wherein the memory stores executable instructions which when executed by the one or more processors, cause the one or more processors to: identify the purity (510) of the one or more metallic currency units (200) via the one or more purity checking devices (508); read an information associated with the one or more metallic currency units (200) embedded in the one or more metallic currency units (200), wherein the information comprises an identification information, an ownership information, and a passcode.

3. The distributed system (102) as claimed in claim 1, wherein the embedded information is in an encrypted form.

4. The distributed system (102) as claimed in claim 1, wherein the one or more processors (108) receive the information associated with the one or more metallic currency units (200) stored with one or more smart storage units at predetermined intervals of time based on a registration of the one or more storage units (600) with the distributed system (102).

5. The distributed system (102) as claimed in claim 5, wherein the smart storage unit (600) for a secure storage of metallic currency comprising: one or more metallic currency holding units (602) with one or more scanners (604) to store one or more metallic currency units, wherein each of the metallic currency holding units (602) is configured with a scanner (604) to read an information associated with the one or more metallic currency units embedded in the one or more metallic currency units (200); one or more controllers communicatively coupled with a distributed system ( 102) via a network (610) for trade using the one or more metallic currency units (200); and a memory operatively coupled to the one or more controllers, wherein said memory stores executable instructions which when executed by the one or more controllers, cause the one or more controllers to: register the smart storage unit (600) with the distributed system (102); read the information associated with the one or more metallic currency units (200) stored with the smart storage unit (600) via the one or more scanners (604) at predetermined intervals; and transmit the information to the distributed system (102).

6. A method (700) for trade using metallic currency, the method (700) comprising: storing (702), by one or more processors (108) associated with a distributed system (102), a data structure with an information associated with one or more metallic currency units (200), wherein the information associated with the metallic currency unit is embedded in the metallic currency unit, and wherein the information comprises an identification information, an ownership information, and a passcode; registering (704), by the one or more processors (108), a plurality of computing devices (106) with the distributed system (102); receiving (706), by the one or more processors (108), a transfer of ownership request for the one or more metallic currency units (200) with the information associated with the one or more metallic currency units via the computing device (106), wherein the transfer of ownership is associated with a change in the information in the data structure and the information embedded in the one or more metallic currency units; authenticating (708), by the one or more processors (108), the transfer of ownership request for the one or more metallic currency units (200) by comparing theinformation associated with the one or more metallic currency units received with the transfer of ownership request and the information stored in the data structure; and changing (710), by the one or more processors (108), the ownership information associated with the one or more metallic currency units (200) in the data structure and the ownership information embedded in the one or more metallic currency units based on the authentication of the transfer of ownership.

7. The method (700) as claimed in claim 6, wherein the metallic currency unit (200) comprises: a quantity of a metal comprises one of: a gold bar, a platinum bar, and a silver bar; an identification number for international trade (214); an identification number for national trade (216); a logo (222) of the distributed system (102) indicating the authenticity of the metallic currency unit (200); an identification associated with a country of origin (212); and a chip (210) with the information associated with the metallic currency unit (200), wherein the information comprises: a specimen information comprising: a metal information, a metal quantity information, a maker information, a minting facility information, a metal origin information, and an approving facility information; the identification information comprising the identification numbers for international and national trade; the ownership information; and the passcode.

8. The method (700) as claimed in claim 6, wherein the embedded information in the metallic currency is in an encrypted form.

9. The method (700) as claimed in claim 6, comprising receiving, by the one or more processors (108), the information of the one or more metallic currency units (200) stored with one or more smart storage units (600) at predetermined intervals of time based on a registration of the one or more storage units with the distributed system (102).

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