IP Library Granted Patent US 11,568,376
Granted Patent B2
US 11,568,376 · App. 17/204,665 · Granted Jan 31, 2023

Assignment of conditional access rights to assignable tokens based on an interaction

Inventors: Trevor Filter (New York, NY); Zachary Kilgore (Brooklyn, NY); Robert Leshner (New York, NY); Tyler Robert Spalding (New York, NY)
Assignee: Flexa Network Inc.
G06Q20/102G06F16/27G06Q10/10G06Q20/0655G06Q20/1235G06Q20/3674G06Q20/3676G06Q20/3678G06Q20/389G06Q30/0185G06Q40/025G06Q40/04G06Q50/184H04L9/3213G06Q2220/00H04L2209/56
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Quick Facts
Patent No.
US 11,568,376
App. No.
17/204,665
Granted
Jan 31, 2023
Kind
B2
Abstract

A method includes initiating, by a first computing device, an interaction with a second computing device. The first computing device includes a first digital asset unit and the second computing device includes a second digital asset unit. The first digital asset unit stores assignable tokens. The method further includes determining to assign conditional access rights to an amount of the assignable tokens to the second digital asset unit where the conditional access rights are in accordance with a set of conditions. The assignment of conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger technology. The method further includes locking the amount of the assignable tokens stored in the first digital asset unit and providing the conditional access rights to the amount of the assignable tokens to second digital asset unit. The second digital asset unit does not store the amount of the assignable tokens.

Claims (101)

1. A method comprises:

initiating, by a first computing device, an interaction with a second computing device via an interface means, wherein the first computing device includes a first digital asset unit and the second computing device includes a second digital asset unit, wherein the first digital asset unit stores assignable tokens;

determining, by one or more of the first and second computing devices, to assign conditional access rights to an amount of the assignable tokens to the second digital asset unit for the interaction in accordance with a partitioning scheme, wherein the conditional access rights are in accordance with a set of conditions, wherein the assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger technology, and wherein the self-enforcing smart contract is operable to verify one or more aspects of the interaction;

locking, by the first computing device in accordance with the self-enforcing smart contract, the amount of the assignable tokens stored in the first digital asset unit; and

providing, by the first computing device in accordance with the self-enforcing smart contract, the conditional access rights to the amount of the assignable tokens to the second digital asset unit, wherein the second digital asset unit does not store the amount of the assignable tokens.

2. The method of claim 1 , wherein the interaction includes one or more of:

a payment transaction;

signing a contract;

transferring property;

a loan; and

sharing information.

3. The method of claim 1 , wherein the interface means includes one or more of:

a direct link; and

a network connection.

4. The method of claim 1 , wherein the determining to assign the conditional access rights to an amount of the assignable tokens is based on one or more of:

a type of interaction of the interaction;

a request from the first computing device; and

a request from the second computing device.

5. The method of claim 1 , wherein access rights of the conditional access rights include one or more of:

a right to take the amount of the assignable tokens via an on-chain transaction;

a right to view a representation of the amount of assignable tokens;

a right to lock at least a portion of the amount of assignable tokens;

a right to unlock at least a portion of the amount of assignable tokens;

a right to assign at least a portion of the amount of assignable tokens;

a right to transfer at least a portion of the amount of assignable tokens;

a right to move at least a portion of the amount of assignable tokens; and

a right to trade at least a portion of the amount of assignable tokens.

6. The method of claim 1 , wherein the set of conditions includes:

one or more release conditions; and

one or more consume conditions.

7. The method of claim 6 , wherein the self-enforcing smart contract is operable to detect a release condition of the one or more release conditions, wherein the detection of the release condition triggers a release, wherein the release includes:

unlocking, by the first computing device in accordance with the self-enforcing smart contract, the amount of the assignable tokens stored in the first digital asset unit; and

terminating, by the first computing device in accordance with the self-enforcing smart contract, the conditional access rights to the amount of the assignable tokens to the second digital asset unit.

8. The method of claim 6 , wherein the self-enforcing smart contract is operable to detect a consume condition of the one or more consume conditions, wherein the detection of the consume condition triggers a consume, wherein the consume includes:

rendering, by the first computing device in accordance with the self-enforcing smart contract, the amount of the assignable tokens transferrable to the second digital asset unit; and

rendering, by the first computing device in accordance with the self-enforcing smart contract, the amount of the assignable tokens unavailable to the first digital asset unit.

9. The method of claim 6 , wherein a release condition of the one or more release conditions includes one of:

a successful completion of the interaction;

an authorized termination of the interaction; and

a failed performance associated with the interaction.

10. The method of claim 6 , wherein a consume condition of the one or more consume conditions includes one of:

an unsuccessful completion of the interaction;

an unauthorized termination of the interaction; and

a completed performance associated with the interaction.

11. The method of claim 1 , wherein the assignable token distributed ledger technology comprises:

an assignable token blockchain operable to execute self-enforcing smart contracts.

12. The method of claim 1 , wherein the self-enforcing smart contract is operable to verify one or more aspects of the interaction by one or more of:

receiving, by the self-enforcing smart contract, one or more data inputs containing information related to the one or more aspects of the interaction; and

verifying, by the self-enforcing smart contract, information related to the one or more aspects of the interaction included in the self-enforcing smart contract.

13. A non-transitory computer readable memory comprises:

a first memory element that stores operational instructions that, when executed by a first computing device, causes the first computing device to:

initiate an interaction with a second computing device via an interface means, wherein the first computing device includes a first digital asset unit and the second computing device includes a second digital asset unit, wherein the first digital asset unit stores assignable tokens;

a second memory element that stores operational instructions that, when executed by one or more of the first and second computing devices, causes the one or more of the first and second computing devices to:

determine to assign conditional access rights to an amount of the assignable tokens to the second digital asset unit for the interaction in accordance with a partitioning scheme, wherein the conditional access rights are in accordance with a set of conditions, wherein the assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger technology, and wherein the self-enforcing smart contract is operable to verify one or more aspects of the interaction; and

a third memory element that stores operational instructions that, when executed by the first digital asset unit in accordance with the self-enforcing smart contract, causes the first digital asset unit to:

lock the amount of the assignable tokens stored in the first digital asset unit; and

provide the second digital asset unit the conditional access rights to the amount of the assignable tokens, wherein the second digital asset unit does not store the amount of the assignable tokens.

14. The non-transitory computer readable memory of claim 13 , wherein the interaction includes one or more of:

a payment transaction;

signing a contract;

transferring property;

a loan; and

sharing information.

15. The non-transitory computer readable memory of claim 13 , wherein the interface means includes one or more of:

a direct link; and

a network connection.

16. The non-transitory computer readable memory of claim 13 , wherein the second memory element further stores operational instructions that, when executed by the one or more of the first and second computing devices, causes the one or more of the first and second computing devices to determine to assign the conditional access rights based on one or more of:

a type of interaction of the interaction;

a request from the first computing device; and

a request from the second computing device.

17. The non-transitory computer readable memory of claim 13 , wherein access rights of the conditional access rights include one or more of:

a right to take the amount of the assignable tokens via an on-chain transaction;

a right to view a representation of the amount of assignable tokens;

a right to lock at least a portion of the amount of assignable tokens;

a right to unlock at least a portion of the amount of assignable tokens;

a right to assign at least a portion of the amount of assignable tokens;

a right to transfer at least a portion of the amount of assignable tokens;

a right to move at least a portion of the amount of assignable tokens; and

a right to trade at least a portion of the amount of assignable tokens.

18. The non-transitory computer readable memory of claim 13 , wherein the set of conditions includes:

one or more release conditions; and

one or more consume conditions.

19. The non-transitory computer readable memory of claim 18 , wherein the self-enforcing smart contract is operable to detect a release condition of the one or more release conditions, wherein the third memory element further stores operational instructions that, when executed by the first digital asset unit in accordance with the self-enforcing smart contract, causes the first digital asset unit to, when the release condition is detected, execute a release by:

unlocking the amount of the assignable tokens stored in the first digital asset unit; and

terminating the conditional access rights to the amount of the assignable tokens to the second digital asset unit.

20. The non-transitory computer readable memory of claim 18 , wherein the self-enforcing smart contract is operable to detect a consume condition of the one or more consume conditions, wherein the third memory element further stores operational instructions that, when executed by the first digital asset unit in accordance with the self-enforcing smart contract, causes the first digital asset unit to, when the consume condition is detected, execute a consume by:

rendering the amount of the assignable tokens transferrable to the second digital asset unit; and

rendering the amount of the assignable tokens unavailable to the first digital asset unit.

21. The non-transitory computer readable memory of claim 18 , wherein a release condition of the one or more release conditions includes one of:

a successful completion of the interaction;

an authorized termination of the interaction; and

a failed performance associated with the interaction.

22. The non-transitory computer readable memory of claim 18 , wherein a consume condition of the one or more consume conditions includes one of:

an unsuccessful completion of the interaction;

an unauthorized termination of the interaction; and

a completed performance associated with the interaction.

23. The non-transitory computer readable memory of claim 13 , wherein the assignable token distributed ledger technology comprises:

an assignable token blockchain operable to execute self-enforcing smart contracts.

24. The non-transitory computer readable memory of claim 13 , wherein the self-enforcing smart contract is operable to verify one or more aspects of the interaction by one or more of:

receiving one or more data inputs containing information related to the one or more aspects of the interaction; and

verifying information related to the one or more aspects of the interaction included in the self-enforcing smart contract.

Assignments (3)
CHANGE OF NAME Recorded Jul 12, 2023
From: FLEXA NETWORK INC.
To: FLEXA INC.
Reel/Frame 064256/0585 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Jul 23, 2021
From: LESHNER, ROBERT
To: FLEXA NETWORK INC.
Reel/Frame 056970/0341 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Jul 23, 2021
From: FILTER, TREVOR; KILGORE, ZACHARY; SPALDING, TYLER ROBERT
To: FLEXA NETWORK INC.
Reel/Frame 056970/0362 →
Continuity (2)
Continuation In Part 17014624 · Sep 8, 2020
Related Publication 20220076219A1 · Mar 10, 2022