Electronic Crypto-Currency Management Method and System

1 . A method for conducting a transaction using crypto-currency by a user having a crypto-currency account, the method comprising:

generating and cryptographically signing a new transaction request at a second processing component responsive to a new transaction desired by the user;

forwarding the new transaction request to a crypto-currency network;

at a first processing component, detecting former transactions related to the user's crypto-currency account in a public block chain of the crypto-currency network and preparing a cryptographically secure status-update message responsive thereto;

the first processing component sending the status-update message to the second processing component; and

at the second processing component receiving the status-update message and determining whether an update to a local ledger is required based on the former transactions detected by the first processing device, if a status update is required, the second processing component requesting update information from the first processing component, receiving the update information, and updating the local ledger.

2 . The method of claim 1 wherein the new transaction request uses a last transaction index for each unit of crypto-currency to be transferred, uses a recipient's address, and uses a sender's address.

3 . The method of claim 1 wherein the transaction relates to a sender sending funds and wherein the step of generating and cryptographically signing comprises using a private cryptographic key associated with a crypto-currency account of the sender.

4 . The method of claim 1 wherein the step of forwarding comprising forwarding the transaction request via the Internet for validation and execution of the transaction.

5 . The method of claim 1 upon receiving the update information at the second processing component, the second processing component verifying integrity of data received before executing the updating step.

6 . The method of claim 5 wherein if integrity is not verified, the second processing component discarding the update information and requesting the first processing component to resend the update information.

7 . The method of claim 1 the local ledger comprising an account-specific differential transaction ledger.

8 . The method of claim 1 the second processing component associated with a mobile or wearable device, the method further comprising the second processing component calculating a new crypto-currency account balance and displaying the new crypto-currency account balance on a display of the mobile or wearable device.

9 . The method of claim 1 wherein the first processing component exhibits faster processing capabilities than the second processing component.

10 . The method of claim 1 wherein the second processing component is an element of a smart phone, a smart wallet, or a wearable device.

11 . The method of claim 10 wherein the smart wallet manages personal financial accounts comprising any one or more of credit cards, debit/check cards, loyalty and rewards cards, and crypto-currency wallets for reviewing balances, reviewing credit and overdraft line limits, reviewing historical transactions, reviewing rewards, discounts, and coupons, and for creating new transactions.

12 . The method of claim 11 the smart phone or the smart wallet requiring different authentication factors than required to access the personal financial accounts.

13 . The method of claim 1 the first processing component an element of an automated teller machine, a point of sale system, a self-service kiosk, a personal computer, or a mobile phone.

14 . The method of claim 1 the transaction comprising a financial transaction further comprising one or more of a crypto-currency transfer, a crypto-currency payment, a crypto-currency exchange, a crypto-currency purchase, and receiving crypto-currency.

15 . The method of claim 1 wherein a user of a device incorporating the second processing component can execute the transaction without a connection to the first processing component.

16 . The method of claim 1 further comprising authenticating the user of a device incorporating the second processing component prior to executing the transaction.

17 . A method for conducting a transaction using crypto-currency by a user having a crypto-currency account, the method comprising

a first processing component having access to a full block chain representing a plurality of past crypto-currency transactions;

a second processing component, an element of a device operated by the user, generating and cryptographically signing a new transaction request responsive to a user's request for the new transaction;

the second processing component forwarding the new transaction request to a crypto-currency network;

at the first processing component, detecting former transactions related to the user's crypto-currency account in a public block chain of the crypto-currency network and preparing a cryptographically secure status-update message responsive thereto;

the first processing component sending the status-update message to the second processing component; and

at the second processing component receiving the status-update message and updating a local ledger responsive thereto.

18 . The method of claim 17 the local ledger comprising an account-specific differential transaction ledger.

19 . The method of claim 17 the second processing component operative with a mobile or wearable device.

20 . A mobile or wearable device for conducting a transaction using crypto-currency by a user having a crypto-currency account, the mobile or wearable device comprising:

a second processing component for generating and cryptographically signing a new transaction request responsive to a new transaction desired by the user;

the second processing component forwarding the new transaction request to a crypto-currency network;

a first processing component not an element of the mobile or wearable device detecting former transactions related to the user's crypto-currency account in a public block chain of the crypto-currency network and preparing a cryptographically secure status-update message responsive thereto;

the first processing component sending the status-update message to the second processing component; and

the second processing component receiving the status-update message and determining whether an update to a local ledger is required based on the former transactions detected by the first processing component, if a status update is required, the second processing component requesting update information from the first processing component, receiving the update information, updating the local ledger, calculating a new crypto-currency account balance, and displaying the new crypto-currency account balance on a display of the mobile or wearable device.