IP Library › Granted Patent US 12,014,337
Granted Patent B2
US 12,014,337 · App. 15/417,587 · Granted Jun 18, 2024

Information transaction infrastructure

Inventor: Vladimir Goloshchuk (Purchase, NY)
Assignee: MASTERCARD INTERNATIONAL INCORPORATED
G06Q20/0655G06Q20/065G06Q20/0855G06Q20/3674G06Q20/3678G06Q20/401G06Q2220/00
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Quick Facts
Patent No.
US 12,014,337
App. No.
15/417,587
Granted
Jun 18, 2024
Kind
B2
Abstract

A method of transferring information with verification from a first party to a second party using suitably programmed computing apparatus is described. Information from a first party private address to a first party public address. This information is then sent from the first party public address to a second party address. The information is also provided for public recordal on a block of a block chain for verification. The first party private address is not communicated to the second party but the first party public address is communicated to the second party. This approach is particularly suitable for transfer of cryptocurrency, as it allows for an effective refund mechanism. Computing apparatus and application software adapted to implement this approach is also described.

Claims (40)

1. A method for performing a cryptocurrency transaction with verification from a first party to a second party using suitably programmed computing apparatus, the method comprising:

receiving, by a service provider computing device, a cryptocurrency balance transfer request from a first party computing device, the cryptocurrency balance transfer request being a request to transfer a cryptocurrency balance from a first party private address associated with the first party to a first party shared public address used to transact cryptocurrency of a plurality of users of a shared wallet service including the first party, the first party shared public address located in the shared wallet service on the service provider computing device and the first party private address located in a logically protected space of the shared wallet service;

performing the cryptocurrency balance transfer by sending the cryptocurrency balance from the first party private address to the first party shared public address, the cryptocurrency balance transfer being a private off-blockchain transaction between the first-party and the shared wallet service;

performing the cryptocurrency transaction by sending the cryptocurrency balance from the first party shared public address to a second party address associated with a second party computing device, wherein the cryptocurrency transaction is provided for public recordal on a block of a block chain for verification; and

receiving, by the service provider computing device, a refund of the cryptocurrency balance of the cryptocurrency transaction from the second party address to the first party shared public address.

2. The method of claim 1 , wherein the service provider provides the first party private address and a plurality of private addresses for other parties in the logically protected space of the shared wallet service.

3. The method of claim 2 , wherein the first party private address is private to the first party and the service provider.

4. The method of claim 3 , wherein the first party private address is maintained private to the first party and the service provider by a cryptographic protocol.

5. The method of claim 1 , comprising:

sending, by the service provider computing device, the cryptocurrency balance from the first party shared public address to the first party private address.

6. A system for performing a cryptocurrency transaction, comprising:

a processor and a memory including instructions that, when executed by the processor, cause the processor to:

host, in an address space, a private address associated with a first party and a shared public address used to transact cryptocurrency of a plurality of users of a shared wallet service including the first party, the first party shared public address located in the shared wallet service on the processor and the first party private address located in a logically protected space of the shared wallet service;

receive a cryptocurrency balance transfer request from a first party computing device, the cryptocurrency balance transfer request being a request to transfer a cryptocurrency balance from the first party private address to the first party shared public address;

send information from the first party private address to the first party shared public address in a private off-blockchain transaction between the first-party and the shared wallet service;

perform the cryptocurrency transaction by sending the cryptocurrency balance from the first party shared public address to a second party address associated with a second party computing device and to provide the cryptocurrency transaction for public recordal on a block of a block chain for verification; and

receive a refund of the cryptocurrency balance of the cryptocurrency transaction from the second party address to the first party shared public address.

7. The system of claim 6 , wherein the first party private address and a plurality of private addresses for other parties are stored in the logically protected space of the shared wallet service.

8. The system of claim 6 , wherein the first party private address is maintained private to the first party and the service provider by a cryptographic protocol.

9. The system of claim 6 , the instructions further causing the processor to:

send the cryptocurrency balance from the first party shared public address to the first party private address.

10. A computer program product for performing a cryptocurrency transaction, the computer program product comprising:

a non-transitory computer-readable storage medium having program instructions embodied therewith, the program instructions executable by a computer to cause the computer to:

receive, by a service provider computing device, a cryptocurrency balance transfer request from a first party computing device, the cryptocurrency balance transfer request being a request to transfer a cryptocurrency balance from a first party private address associated with the first party to a first party shared public address used to transact cryptocurrency of a plurality of users of a shared wallet service including the first party, the first party shared public address located in the shared wallet service on the service provider computing device and the first party private address located in a logically protected space of the shared wallet service

perform the cryptocurrency balance transfer by sending a cryptocurrency balance from the first party private address to the first party shared public address, the cryptocurrency balance transfer being a private off-blockchain transaction between the first-party and the shared wallet service;

perform the cryptocurrency transaction by sending the cryptocurrency balance from the first party shared public address to a second party address associated with a second party computing device, wherein the cryptocurrency transaction is provided for public recordal on a block of a block chain for verification; and

receive, by the service provider computing device, a refund of the cryptocurrency balance of the cryptocurrency transaction from the second party address to the first party shared public address.

11. The computer program product of claim 10 , wherein the service provider provides the first party private address and a plurality of private addresses for other parties in the logically protected space of the shared wallet service.

12. The computer program product of claim 10 , wherein the first party private address is private to the first party and the service provider.

13. The computer program product of claim 12 , wherein the first party private address is maintained private to the first party and the service provider by a cryptographic protocol.

14. The computer program product of claim 10 , comprising program instructions to:

send, by the service provider computing device, the cryptocurrency balance from the first party shared public address to the first party private address.

15. The method of claim 5 , wherein the sending of the cryptocurrency balance from the first shared party public address to the first party private address is an automatic process.

16. The method of claim 1 , comprising:

generating, by the service provider computing device, a notification of the refund; and

transmitting, by the service provider computing device, the notification of the refund to the first party computing device.

17. The method of claim 1 , comprising:

transferring the cryptocurrency balance from a first party cold storage to the first party private address, the first party cold storage maintained private to the first party private address by a cryptographic protocol.

18. The method of claim 5 , comprising:

transferring the cryptocurrency refund balance from the first party private address to a first party cold storage, the first party cold storage maintained private to the first party private address by a cryptographic protocol.

Assignments (1)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Feb 13, 2017
From: GOLOSHCHUK, VLADIMIR
To: MASTERCARD INTERNATIONAL INCORPORATED
Reel/Frame 041233/0807 →
Priority Claims (1)
EP 16153519 · Jan 29, 2016 · regional
Continuity (1)
Related Publication 20170221022A1 · Aug 3, 2017