INSCX Cheshire UK / Cavan Ireland / 6th April, 2026: INSCX exchange™ Global Nanomaterials Exchange is proud to announce it’s plans to relaunch Netcash, a revolutionary electronic cash “utility” designed to provide the global banking system, individuals and commerce with a high-speed, private, and fully regulated digital payment rail.
By reviving and modernizing a battle-tested financial architecture, INSCX is positioning itself as the primary “fintech plumbing” provider for the digital economy. This is a call to upgrade the original Paul Tolley invented bank mirror 1;1 UK FSA approved system Netcash for to deploy for “atomic” settlement in today’s world.
A Legacy of Trust and Innovation
The Netcash relaunch is built upon a foundation of intellectual property (IP) dating back to 2005 with priority dating from 1999. Developed by UK entrepreneur Paul Tolley, the system is not an experimental concept but a refined evolution of an electronic cash standard that previously operated with UK Financial Services Authority (FSA) approval. This historical regulatory DNA provides a pre-approved blueprint that traditional financial institutions can trust.
Prior Art
INSCX exchange™ acts as the commercial custodian and owner of the Netcash heritage and IP. This was agreed off-grid between the exchange and inventor in 2014. As such the exchange are the lawful keepers of the early 2000s regulatory history of Netcash. In addition, INSCX has secured the intellectual property and the historical “first mover” status associated with the original FSA-certified and operated system and furthermore, prior art dating from 1999 in respect to the unique features associated with the original Tolley invention.
The original patent filings described a digital payment system where a central database acted as a 1:1 “mirror” of funds, enabling instant transfer and settlement of funds via computer, phone, SMS text and / or physical printed “Netcash” note. This allowed for a “non-flight of deposits” permitting users to exchange deposit backed value instantly wholly bypassing traditional payment networks. The system used a methodology of centralised or distributed nodes that issued and verified unique digital units and / or tokens 1:1 equal to the underlying cash deposit with added features including in-built double spending prevention and anonymity.
Netcash was one of the first methods for converting “fiat” currency into digital units (tokens) and visa versa, instantly. In original form the system stands as one of the first (DC) digital currency systems licensed to operate as a small e-money issuer under Article 9C of the UK Financial Services and Markets Act (Regulated Activities) Order 2001. This confirms the original Tolley Netcash as a legitimate part of the UK’s early digital currency framework in the early 2000s, and as a regulatory compliant predecessor to modern stablecoins and CBDC’s.
European Patent Office:EP1866880 PAYMENT SYSTEM
WIPO: W02006097665A1
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2006097665&_cid=P10-MNYEXA-92254-1
Key Features (RELAUNCH)
The relaunch is geared to provide a deposit backed digital currency designed to function as a high-speed “super highway” for existing banks, HFT traders and exchanges in addition to own own producer / end user member base. Netcash over two decades ago delivered in effect instant settlement multi-currency (GBP, USD, Euro) for it’s users, permitting the conversion of money into digital form and back again instantly – Cash 2.0. The plan now is to upgrade this system for today’s world.
HFT Precision for Global Digital Liquidity
The relaunched version INSCX propose will solve high-speed settlement issues facing our members as nanotechnology evolves from lab to industry, and for other HFT exchanges, traders and other organisations who may wish to use / license or seek a firm IP underpinning for their own innovations in this space given the pioneer status of the original system.
The objective is to deliver an “Atomic” settlement system using HFT FGPA architecture to empower the digital economy for all. INSCX will be offering this as a “plug-and-play” solution designed for rapid integration by commercial banks and financial institutions so actors can provide next generation digital currency services without overhauling their existing infrastructure.
Nanoproducer members for example, already paying existing gateways high transaction taxes will see these fees virtually eliminated to a rate of 0.001% regardless of transaction value. HFT traders will be offered the option to license the system or subscribe, the latter levied a nominal 0.001%.
The relaunch will present an ability to eliminate the “transaction Tax” for retailers as a retail version of the system is also planned. Again this will offer instant multi-currency P2P, B2B payment methods for online, mobile and in person, retaining also the SMS and physical note features of the original. Bespoke versions of the system are intended to be provided to existing gateways to offset fees they currently pay to use existing legacy gateways to process user payments.
Delivering “Atomic” Settlement
To INSCX this means moving the digital version and cash value of a trade instant settlement T+0. Engineered for nanosecond “Atomic” settlement, you trade, you pay / get paid. The initial relaunch will offer sub-millisecond speeds to users graduated to nanoscecond speeds as usage grows. The relaunched offering will seek and comply with FCA regulations to permit our members, commercial banks and other HFT exchanges (subscription or license) to clear transactions in a mirror 1:1 at the speed of light. This “High-Frequency” capability, will build on the closed loop speed of original Netcash, to set a new benchmark in a HFT-enabled Private Digital currency for global settlement operations. With this users will secure a settlement alternative to bypass the legacy batch processing architecture used by banks in addition to high fees and settlement latency associated with many existing payment networks.
Physical Cash-Like Privacy
Netcash in simple terms is the digital version of the cash in your pocket. The system mirrors the anonymity and untraceable features of physical notes and coins. Transactions using the system were always private and un-linkable by default. Given the modern tendency to market consumer spending habits, use of this system makes such monitoring impossible. We recognise that in business or HFT trading, the right to privacy and confidentiality is absolute. A case of “give us the speed we need, without the surveillance, we don’t.” As Netcash can only be generated with monies either held in existing regulated bank accounts, or paid into one, where the deposits are then stored in a “Netcash vault” also in a regulated bank account, this right to security and privacy in the way you spend is assured.
However, to ensure user safety, “accountability revocation” is only triggered in specific cases of fraud, such as double-spending, perfectly balancing user privacy with regulatory compliance.
1:1 Digital Mirroring
Acts as a secure software layer for regulated bank deposits. Every unit is backed 1:1 by cash held within a commercial bank. The money stays in the regulated environment, while the Netcash “mirror” moves the value instantly, requiring no new financial guarantees or volatile crypto-assets.
A “Defensive Moat” for Banks
The system allows “Main Street” banks to compete directly with Big Tech by offering a payment rail that is faster, cheaper, and more private than current digital wallets, all while keeping deposits within the traditional banking system.
Economic Efficiency
By removing percentage-based merchant fees, the system aims to provide a “permanent tax break” for businesses, offering a flat-fee model that dramatically reduces the cost of doing business globally.
Societal Right to Privacy
It is essentially a sovereign alternative to the “surveillance capitalism” model used by Big Tech and some proposed Central Bank Digital Currencies (CBDCs). In short, this proposed relaunch will offer to society, be they individuals, merchants, business, small or large, existing payment gateways and high-frequency markets the speed and regulatory bedrock they want without the surveillance they do not. INSCX sees this offering as a utility alternative.
The project’s current £3m funding call is specifically aimed at upgrading this privacy-centric architecture to meet modern FCA and EMI standards.
To express interest in supporting this funding call and / or in using the upgraded system on relaunch, for more information contact:
Registrar, INSCX exchange ™ @ registrar@inscx.com