IP Library Granted Patent US 11,394,560
Granted Patent B2
US 11,394,560 · App. 16/889,370 · Granted Jul 19, 2022

Crypto integration platform

Inventors: Alec Wilkins (Salt Lake City, UT); Eric Nathaniel Fish (Salt Lake City, UT); Trent Norman Larson (Bountiful, UT); Patrick M. Byrne (Salt Lake City, UT)
Assignee: tZERO IP, LLC
H04L9/3247G06F21/64G06Q40/04H04L63/126H04L2209/56H04L2463/102
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Quick Facts
Patent No.
US 11,394,560
App. No.
16/889,370
Granted
Jul 19, 2022
Kind
B2
Abstract

A system, includes at least one processor; and at least one memory communicatively coupled to the at least one processor. The at least one processor is configured to receive an order to execute a trade of at least one transactional item associated with a first account, wherein the order, the first account, and a second account are associated with a common identifier; generate a first transaction to transfer the at least one transactional item from the first account to the second account; generate a second transaction that includes the order; verify that the first transaction was authorized by a same party as the second transaction; and authorize placement of the order on an exchange if the first transaction was authorized by the same party as the second transaction.

Claims (56)

1. A system, comprising:

at least one processor;

at least one memory communicatively coupled to the at least one processor; and

wherein the at least one processor is configured to:

receive an order to execute a trade of at least one transactional item associated with a first account, wherein the order, the first account, and a second account are associated with a common identifier;

cryptographically sign, using a cryptographic key, a first transaction to transfer the at least one transactional item from the first account to the second account;

cryptographically sign, using the cryptographic key, a second transaction that includes the order;

verify that the first transaction and the second transaction were both cryptographically signed using the cryptographic key; and

authorize placement of the order on an exchange if the first transaction and the second transaction were both cryptographically signed using the cryptographic key.

2. The system of claim 1 , wherein the at least one processor is configured to:

receive a request to match the order with a second order from the exchange, wherein the second order is associated with a second identifier; and

transfer the at least one transactional item to an account associated with the second identifier and transfer at least one other transactional item into the first account to settle and clear the order.

3. The system of claim 1 , wherein the at least one processor is configured to:

send the first transaction to the exchange; and

send the second transaction to an alternative trading system.

4. The system of claim 1 , wherein the first transaction is authorized by a same party as the second transaction when the first transaction and the second transaction are both cryptographically signed by the cryptographic key.

5. The system of claim 4 , wherein the cryptographic key is a private key of the first account, and wherein the second transaction includes a hash of the first transaction.

6. The system of claim 1 , wherein the at least one transactional item includes at least one of a digital asset, a digital liability, an amount of currency, an amount of cryptographic currency, or a representation of the currency or the cryptographic currency.

7. The system of claim 1 , wherein:

the first account is a customer portfolio account associated with a first customer associated with the common identifier; and

the second account is a customer committed account associated with the first customer.

8. A non-transitory computer-readable storage medium including a set of instructions that, when executed by at least one processor, cause a machine to:

receive an order to execute a trade of at least one transactional item associated with a first account, wherein the order, the first account, and a second account are associated with a common identifier;

cryptographically sign, using a cryptographic key, a first transaction to transfer the at least one transactional item from the first account to the second account;

cryptographically sign, using the cryptographic key, a second transaction that includes the order;

verify that the first transaction and the second transaction were both cryptographically signed using the cryptographic key; and

authorize placement of the order on an exchange if the first transaction and the second transaction were both cryptographically signed using the cryptographic key.

9. The non-transitory computer-readable storage medium of claim 8 , wherein the set of instructions, when executed by the at least one processor, cause the machine to:

receive a request to match the order with a second order from the exchange, wherein the second order is associated with a second identifier; and

transfer the at least one transactional item to an account associated with the second identifier and transfer at least one other transactional item into the first account to settle and clear the order.

10. The non-transitory computer-readable storage medium of claim 8 , wherein the set of instructions, when executed by the at least one processor, cause the machine to:

send the first transaction to the exchange; and

send the second transaction to an alternative trading system.

11. The non-transitory computer-readable storage medium of claim 8 , wherein the first transaction is authorized by a same party as the second transaction when the first transaction and the second transaction are both cryptographically signed by the cryptographic key.

12. The non-transitory computer-readable storage medium of claim 8 , wherein the at least one transactional item includes at least one of a digital asset, a digital liability, an amount of currency, an amount of cryptographic currency, or a representation of the currency or the cryptographic currency.

13. The non-transitory computer-readable storage medium of claim 8 , wherein:

the first account is a customer portfolio account associated with a first customer associated with the common identifier; and

the second account is a customer committed account associated with the first customer.

14. A method, comprising:

receiving an order to execute a trade of at least one transactional item associated with a first account, wherein the order, the first account, and a second account are associated with a common identifier;

cryptographically signing, using a cryptographic key, a first transaction to transfer the at least one transactional item from the first account to the second account;

cryptographically signing, using the cryptographic key, a second transaction that includes the order;

verifying that the first transaction and the second transaction were both cryptographically signed using the cryptographic key; and

authorizing placement of the order on an exchange if the first transaction and the second transaction were both cryptographically signed using the cryptographic key.

15. The method of claim 14 , further comprising:

receiving a request to match the order with a second order from the exchange, wherein the second order is associated with a second identifier; and

transferring the at least one transactional item to an account associated with the second identifier and transfer at least one other transactional item into the first account to settle and clear the order.

16. The method of claim 14 , further comprising:

sending the first transaction to the exchange; and

sending the second transaction to an alternative trading system.

17. The method of claim 14 , wherein the first transaction is authorized by a same party as the second transaction when the first transaction and the second transaction are both cryptographically signed by the cryptographic key.

18. The method of claim 14 , wherein the at least one transactional item includes at least one of a digital asset, a digital liability, an amount of currency, an amount of cryptographic currency, or a representation of the currency or the cryptographic currency.

19. The method of claim 14 , wherein:

the first account is a customer portfolio account associated with a first customer associated with the common identifier; and

the second account is a customer committed account associated with the first customer.

20. The non-transitory computer-readable storage medium of claim 8 , wherein the cryptographic key is a private key of the first account, and wherein the second transaction includes a hash of the first transaction.

Assignments (8)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Mar 31, 2021
From: TZERO GROUP, INC.
To: TZERO IP, LLC
Reel/Frame 055786/0953 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Mar 23, 2021
From: FISH, ERIC NATHANIEL
To: OVERSTOCK.COM, INC.
Reel/Frame 055687/0096 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Mar 23, 2021
From: LARSON, TRENT NORMAN
To: OVERSTOCK.COM, INC.
Reel/Frame 055687/0301 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Mar 23, 2021
From: BYRNE, PATRICK M.
To: OVERSTOCK.COM, INC.
Reel/Frame 055687/0382 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Mar 23, 2021
From: WILKINS, ALEC
To: MEDICI, INC.
Reel/Frame 055686/0875 →
CHANGE OF NAME Recorded Mar 23, 2021
From: MEDICI, INC.
To: T0.COM, INC.
Reel/Frame 055693/0451 →
CONVERSION AND CHANGE OF NAME Recorded Mar 23, 2021
From: T0.COM, INC.
To: TZERO GROUP, INC.
Reel/Frame 055693/0481 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Mar 23, 2021
From: OVERSTOCK.COM, INC.
To: TZERO GROUP, INC.
Reel/Frame 055688/0437 →
Continuity (4)
Continuation 16235534 · Dec 28, 2018
Continuation 15017359 · Feb 5, 2016
Provisional Application 62113931 · Feb 9, 2015
Related Publication 20200322167A1 · Oct 8, 2020