Systems, methods, and program products for verifying digital assets held in a custodial digital asset wallet
An exemplary method includes generating, by a trust computer system, script instructions to carry out a transaction involving one or more digital wallets held in a trust custody account so as to verify control of digital assets held in the one or more digital wallets, the trust computer system being operatively connected to a decentralized digital asset network that uses a decentralized electronic ledger in the form of a blockchain maintained by a plurality of computer systems to track asset ownership and/or transactions in a digital asset system, and generating script instructions includes accessing a statement associated with an event that occurred within a predetermined time frame, and generating, by the trust computer system, based on the script instructions, a transaction that involves a zero net payment from the account along with the statement, and payment of a transaction fee from a separate operating account.
1. A computer-implemented method comprising the steps of:
(a) generating, by a trust computer system, script instructions to carry out a transaction involving one or more digital wallets held in a trust custody account so as to verify control of digital assets held in the one or more digital wallets, the trust computer system being operatively connected to a decentralized digital asset network that uses a decentralized electronic ledger in the form of a blockchain maintained by a plurality of physically remote computer systems to track at least one of asset ownership or transactions in a digital math-based asset system, the step of generating script instructions comprises:
(i) accessing a statement associated with an event that occurred within a predetermined time frame;
(ii) determining whether the statement fits within memo field length constraints of a script associated with a digital asset type corresponding to the digital assets;
(iii) if the determining step (ii) indicates that the statement fits within the memo field length constraints, maintaining the statement in its original form; and
(iv) if the determining step (ii) indicates that the statement does not fit within the memo field length constraints, generating a cryptographic hash of the statement;
(b) generating, by the trust computer system, based on the script instructions, a transaction with the following parameters:
(i) a first input of a first amount of digital assets from a digital asset account associated with the trust custody account as accessed through the decentralized digital asset network using a trust custody account digital asset account identifier;
(ii) a first output of a second amount of digital assets to the digital asset account associated with the trust custody account as accessed through the decentralized digital asset network using the trust custody account digital asset account identifier, the first amount of digital assets being equal to the second amount of digital assets;
(iii) a second input of a third amount of digital assets from a digital asset account associated with an operating account as accessed through the decentralized digital asset network using an operating account digital asset account identifier;
(iv) a second output of a fourth amount of digital assets to the digital asset account associated with the operating account as accessed through the decentralized digital asset network using the operating account digital asset account identifier, the fourth amount of digital assets being reduced relative to the third amount by a transaction fee amount;
(v) a third output that comprises the statement in a memo field;
(vi) applying a digital signature to the transaction using a private key associated with the trust custody account;
(c) broadcasting, by the trust computer system to the decentralized digital asset network, the transaction to be recorded in the decentralized electronic ledger;
wherein the decentralized digital asset network processes the transaction;
(d) verifying, by the trust computer system, the transaction to confirm that the transaction was recorded in the decentralized electronic ledger.
2. The computer-implemented method of claim 1 , wherein the determining step (ii) indicates that the statement does not fit within the memo field length constraints and the third output comprises the statement as the cryptographic hash.
3. The computer-implemented method of claim 1 , wherein the statement is a news headline.
4. The computer-implemented method of claim 1 , wherein the predetermined time frame is a most recent time period as measured backwards from a present time.
5. The computer-implemented method of claim 1 , wherein the trust computer system is associated with an administrative computer system of at least one of the following types of financial markets: futures exchange, commodities exchange, currency exchange, spot exchange and lending exchange.
6. The computer-implemented method of claim 1 , wherein the trust computer system is associated with an administrative computer system of at least one of the following types of investment funds: exchange traded fund and mutual fund.
7. The computer-implemented method of claim 1 , wherein the digital math-based asset is bitcoin.
8. The computer-implemented method of claim 1 , wherein the digital math-based asset is based on a mathematical protocol for proof of work.
9. The computer-implemented method of claim 8 , wherein the mathematical protocol is open source.
10. The computer-implemented method of claim 8 , wherein the mathematical protocol includes a one-way cryptographic algorithm.
11. The computer-implemented method of claim 8 , wherein the mathematical protocol includes a sequential hard memory function.
12. The computer-implemented method of claim 1 , wherein the digital math-based asset is based on a mathematical protocol for proof of stake.
13. The computer-implemented method of claim 12 , wherein the mathematical protocol is open source.
14. The computer-implemented method of claim 12 , wherein the digital math-based asset is based on a cryptographic mathematical protocol.
15. The computer-implemented method of claim 1 , wherein the digital math-based asset is based on a mathematical protocol for a hybrid of proof of work and proof of stake.
16. The computer-implemented method of claim 1 , wherein the digital math-based asset is based on a mathematical protocol for proof of stake velocity.
17. The computer-implemented method of claim 1 , wherein the mathematical protocol relies upon ownership of respective digital math-based asset as a function of duration of ownership.
18. The computer-implemented method of claim 1 , wherein the digital math-based asset is based on a mathematical protocol for proof of burn.
19. The computer-implemented method of claim 1 , wherein a number of digital math-based assets in the decentralized digital assert network is limited.
20. The computer-implemented method of claim 1 , wherein a number of digital math-based assets in the decentralized digital assert network is not limited.
21. The computer-implemented method of claim 1 , wherein a specified number of digital math-based assets in the decentralized digital assert network is added into circulation during a defined time period.
22. The computer-implemented method of claim 1 , wherein the step of generating, by a trust computer system, script instructions is initiated in response to a request for proof of control from a verifier computer system that sends a pre-selected statement to the trust computer system.
23. The computer-implemented method of claim 22 , wherein the verifier computer system is an auditor computer system.
24. The computer-implemented method of claim 22 , further comprising the steps of:
(e) accessing, by the verifier computer system, a plurality of updates to the decentralized electronic ledger;
(f) analyzing, by the verifier computer system, each of the plurality of updates for a confirmation of receipt, by a node in the decentralized digital asset network, of the third output; and
(g) determining, by the verifier computer system, whether the statement in the third output is correct by comparing the statement with the pre-selected statement.