Granted Patent B1

US 11,200,569 · App. 16/452,187 · Granted Dec 14, 2021

Inventors: Daniel William Halley James (Brooklyn, NY); Brandon Arvanaghi (New York, NY); Cem Paya (Portland, OR); Eric Winer (New York, NY); Cameron Howard Winklevoss (New York, NY); Tyler Howard Winklevoss (New York, NY)

Assignee: Winklevoss IP, LLC

G06Q20/3829G06Q20/065G06Q20/145G06Q20/223

Abstract

Claims (64)

1. A method of issuing electronic payments using an amount of stable value digital asset tokens comprising the steps of:

(a) obtaining, by an administrator system associated with an administrator, a first sum of stable value digital asset tokens in a first designated public address associated with a blockchain, wherein the first sum of stable value digital asset tokens are backed by a second sum of currency maintained by a custodian based on a fixed ratio of the stable value digital asset token to the currency,

wherein the first designated public address corresponds to a first designated public key and a corresponding first designated private key;

wherein the stable value digital asset token is maintained in a stable value digital asset token database stored on a distributed transaction ledger in the form of a blockchain associated with an underlying asset maintained by a plurality of geographically distributed computer systems in a blockchain network, the stable value digital asset token database comprising a log of stable value digital asset tokens including:

(i) a first set of digital asset addresses, each respective digital asset address of the first set of digital asset addresses in the distributed transaction ledger maintained by the plurality of geographically distributed computer systems in the blockchain network, the first set of digital asset addresses including a first respective digital asset token address for each respective stable value digital asset token holder;

(ii) a respective stable value digital asset token amount for each first respective stable value digital asset token address associated with a respective stable value digital asset token holder, wherein the stable value digital asset tokens are issued by a stable value digital asset token issuer;

(b) obtaining, by the administrator system,

(A) each respective digital asset address of a second set of digital asset addresses for each respective digital asset first token holder of a plurality of digital asset first token holders; and

(B) a respective digital asset first token amount associated with each respective digital asset address of the second set of digital asset addresses;

from a digital asset first token database stored on a second set of one or more computer readable media, the one or more computer readable media associated with a digital asset first token issuer system associated with a digital asset first token issuer, wherein the digital asset first token database comprises a log of digital asset first tokens including:

(i) the second set of digital asset addresses, each respective digital asset address of the second set of digital asset addresses in the distributed transaction ledger in the form of the blockchain maintained by the plurality of geographically distributed computer systems in the blockchain network, the second set of digital asset addresses including a second respective digital asset address for each respective digital asset first token holder; and

(ii) the respective digital asset first token amount associated with each respective second digital asset address;

(c) determining, by the administrator system, a respective payment amount in stable value digital asset tokens to be made to each respective digital asset address of the second set of digital asset addresses based at least in part on the first sum of stable value digital asset tokens and the respective digital asset first token amount associated with each respective digital asset address of the second set of digital asset addresses wherein the payment amount is determined on a pro rata basis with respect to a sum of the respective digital asset first token amounts for the second set of digital asset addresses;

(d) generating, by the administrator system, transaction instructions to transfer the respective payment amount of stable value digital asset tokens from the designated public address to each respective digital asset address of the second set of digital asset addresses with a digital signature based on the first designated private key;

(e) publishing, by the administrator system to the blockchain, the transaction instructions, wherein the plurality of geographically distributed computer systems implement the transaction instructions to transfer the respective payment amount of stable value digital asset tokens to each respective digital asset address of the second set of digital asset addresses;

(f) confirming, by the administrator system, that each digital asset address of the second set of the digital asset addresses received the determined respective payment amount in stable value digital asset tokens based on reference to the blockchain and that the respective digital asset first token amount for each digital asset address of the second set of digital asset address after publishing the transaction instructions is the same as the respective digital asset first token amount for each digital asset address of the second set of digital asset address after publishing the transaction instructions.

2. The method of claim 1 , wherein the blockchain is an Ethereum blockchain.

3. The method of claim 1 , wherein the blockchain is a Bitcoin blockchain.

4. The method of claim 1 , further comprising:

(g) notifying, by the administrator system, each digital asset address of the second set of the digital asset addresses of each respective transfer of stable value digital asset tokens to each respective digital asset address of the second set of digital asset addresses.

5. The method of claim 1 , wherein the blockchain is a Stellar blockchain.

6. The method of claim 1 , wherein the administrator is a regulated digital asset exchange.

7. The method of claim 1 , wherein the digital asset security token is a security registered with a government authority.

8. The method of claim 1 , wherein the digital asset security token is a debt security and the electronic payments are interest.

9. The method of claim 1 , wherein the digital asset security token is an equity security and the electronic payments are dividends.

10. The method of claim 1 , wherein the digital asset security token is secured by intellectual property rights and the electronic payments are royalties.

11. The method of claim 1 , wherein the blockchain is based on a mathematical protocol for proof of work.

12. The method of claim 11 , wherein the mathematical protocol is open source.

13. The method of claim 1 , wherein the blockchain is based on a mathematical protocol for proof of stake.

14. The method of claim 13 , wherein the mathematical protocol is open source.

15. The method of claim 1 , wherein the blockchain is based on a cryptographic mathematical protocol.

16. The method of claim 1 , further comprising a step of publishing, by the administrator system to a side ledger, the transaction instructions associated with transferring the respective payment amount of stable value digital asset tokens to each respective digital asset address of the second set of digital asset addresses and the publishing step (e) includes publishing the transaction instructions from the side ledger to the distributed asset ledger periodically or aperiodically.

17. The method of claim 1 further comprising steps of:

receiving, at the digital asset first token issuer system, from at least one digital asset first token holder, a payment request prior to the obtaining step (a), the payment request including:

(i) the digital asset address of the digital asset first token holder; and

(ii) a request to transfer a payment amount of stable value digital asset tokens to the digital asset address of the digital asset first token holder; and

confirming, at the digital asset first token issuer system, that:

(i) the digital asset address of the digital asset first token holder is valid;

(ii) the digital asset first token amount of digital asset first tokens associated with the address of the digital asset first token holder is more than zero; and

(iii) the digital asset first token holder is entitled to payment.

18. The method of claim 1 , wherein the digital asset first token database is maintained and stored on the plurality of geographically distributed computer systems in the blockchain network.

19. The method of claim 1 , wherein the digital asset security token database is maintained on a sidechain, separate from the blockchain network, wherein information on the sidechain is published and stored on the blockchain network periodically or aperiodically.

20. The method of claim 1 , wherein the generating step (d) includes generating, by the administrator system, transaction instructions for the first sum of stable value digital asset tokens by updating the stable value digital asset token database to reserve stable value digital asset tokens in the amount of the first sum.

21. The method of claim 1 , wherein the payment amount relates to a dividend to be paid based on ownership of each digital asset first token.

22. The method of claim 1 , wherein the payment amount relates to a royalty to be paid based on ownership of each digital asset first token.

23. The method of claim 1 , wherein the payment amount relates to interest to be paid based on ownership of each digital asset first token.

24. The method of claim 1 , wherein the blockchain network uses a byzantine fault tolerance protocol as a consensus mechanism.

25. The method of claim 1 , wherein the currency is a fiat currency.

26. The method of claim 25 , wherein the fiat current is US dollar.

27. The method of claim 25 , wherein the fiat currency is Euro.

28. The method of claim 25 , wherein the fiat currency is Yen.

29. The method if claim 25 , wherein the fiat currency is British Pound.

30. The method of claim 25 , wherein the fiat currency is Australian dollar.

31. The method of claim 25 , wherein the fiat currency is Canadian dollar.

32. The method of claim 1 , wherein the currency is cryptocurrency.

33. The method of claim 1 , wherein the currency is a cryptocurrency.

34. The method of claim 33 , wherein the cryptocurrency is Bitcoin.

35. The method of claim 33 , wherein the cryptocurrency is Litecoin.

36. The method of claim 33 , wherein the cryptocurrency is Bitcoin Cash.

37. The method of claim 33 , wherein the cryptocurrency is Filecoin.

38. The method of claim 33 , wherein the cryptocurrency is Zcash.

39. The method of claim 33 , wherein the cryptocurrency is Stellar.

40. The method of claim 33 , wherein the cryptocurrency is Tezos.

41. The method of claim 1 , wherein the digital asset stable value tokens are issued by the stable value digital asset token issuer through one or more nodes associated with the stable value digital asset token issuer.

Assignments (2)

Continuity (30)

Cited By (121)

US 12,190,314 US 12,192,317 US 12,197,696 US 12,198,116 US 12,198,117 US 12,198,130 US 12,205,084 US 12,205,093 US 12,205,121 US 12,206,674 US 12,211,020 US 12,217,248 US 12,223,091 US 12,223,482 US 12,223,483 US 12,223,484 US 12,223,485 US 12,223,497 US 12,229,384 US 12,238,051 US 12,238,112 US 12,243,048 US 12,244,620 US 12,248,611 US 12,265,965 US 12,266,014 US 12,271,876 US 12,276,946 US 12,277,551 US 12,277,570 US 12,282,903 US 12,284,227 US 12,299,657 US 12,299,691 US 12,307,410 US 12,309,269 US 12,314,435 US 12,321,469 US 12,321,490 US 12,321,924 US 12,333,047 US 12,333,551 US 12,354,085 US 12,354,089 US 12,354,111 US 12,373,884 US 12,380,430 US 12,380,442 US 12,395,552 US 12,400,221 US 12,406,241 US 12,417,443 US 12,417,491 US 12,423,665 US 12,423,666 US 12,430,463 US 12,430,639 US 12,443,988 US 12,450,578 US 12,450,593 US 12,450,613 US 12,456,148 US 12,462,248 US 12,464,019 US 12,469,015 US 12,469,023 US 12,469,025 US 12,469,027 US 12,469,077 US 12,475,457 US 12,481,967 US 12,481,978 US 12,483,538 US 12,488,321 US 12,493,716 US 12,493,865 US 12,511,332 US 12,511,649 US 12,513,014 US 12,518,257 US 12,524,942 US 12,526,155 US 12,548,001 US 12,548,031 US 12,548,068 US 12,549,391 US 12,554,881 US 12,561,668 US 12,561,740 US 12,562,889 US 12,568,152 US 12,572,695 US 12,572,925 US 12,574,250 US 12,579,525 US 12,579,544 US 12,585,445 US 12,591,665 US 12,597,002 US 12,602,682 US 12,602,963 US 12,619,987 US 12,619,993 US 12,626,234 US 12,657,557 US 12,664,302 US 12,664,583 US 12,675,604 US 12,676,757 US 12,681,619 US 12,683,816 US 12,688,496 US 12,694,005 US 12,699,499 US 12,699,805 US 12,699,974 US 12,699,993 US 12,711,492 US 12,712,739 US 12,717,772 US 12,718,229