Collateral Cryptocurrency Backed Payment

1 . A method comprising:

initiating, by a cryptocurrency wallet of a user computing device of one or more user computing devices of a cryptocurrency collateral system, a payment with a merchant computing device of the cryptocurrency collateral system, wherein the merchant computing device accepts a desired currency;

determining, by a network computing device of the cryptocurrency collateral system, an amount of collateral cryptocurrency required to back the payment;

locking, by the cryptocurrency wallet, the amount of the collateral cryptocurrency to back the payment;

sending, by the network computing device, an amount of the desired currency to the merchant computing device to complete the payment; and

when the cryptocurrency wallet sends funds to the network computing device to cover the payment:

releasing, by the cryptocurrency wallet, the amount of the collateral cryptocurrency.

2 . The method of claim 1 , wherein the cryptocurrency wallet is associated with the network computing device.

3 . The method of claim 1 , wherein the determining the amount of the collateral cryptocurrency is based on one or more of:

characteristics of the payment;

characteristics of the user computing device;

characteristics of the merchant computing device;

characteristics of the collateral cryptocurrency; and

characteristics of the cryptocurrency wallet.

4 . The method of claim 1 , wherein the desired currency includes one of:

fiat currency; and

a cryptocurrency accepted by the merchant computing device.

5 . The method of claim 1 , wherein the locking the amount of the collateral cryptocurrency comprises:

locking, by the cryptocurrency wallet, the amount of the collateral cryptocurrency in a smart contract of one or more smart contracts of the cryptocurrency collateral system.

6 . The method of claim 1 further comprises:

when the cryptocurrency wallet does not send funds to cover the payment to the network computing device:

using, by the network computing device, the amount of the collateral cryptocurrency to cover the payment.

7 . The method of claim 1 , wherein the sending the amount of the desired currency to the merchant computing device comprises:

sending, by the network computing device, the amount of the desired currency to a merchant banking computing device associated with the merchant computing device for deposit therein.

8 . A computer readable memory comprises:

a first memory element that stores operational instructions that, when executed by a cryptocurrency wallet of a user computing device of one or more user computing devices of a cryptocurrency collateral system, causes the cryptocurrency wallet to:

initiate a payment with a merchant computing device of the cryptocurrency collateral system, wherein the merchant computing device accepts a desired currency;

a second memory element that stores operational instructions that, when executed by a network computing device of the cryptocurrency collateral system, causes the network computing device to:

determine an amount of collateral cryptocurrency required to back the payment;

a third memory element that stores operational instructions that, when executed by the cryptocurrency wallet, causes the cryptocurrency wallet to:

lock the amount of the collateral cryptocurrency to back the payment;

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

send an amount of the desired currency to the merchant computing device to complete the payment with the merchant computing device; and

a fifth memory element that stores operational instructions that, when executed by the cryptocurrency wallet, causes the cryptocurrency wallet to:

when the cryptocurrency wallet sends funds to the network computing device to cover the payment:

release the amount of the collateral cryptocurrency.

9 . The computer readable memory of claim 8 , wherein the cryptocurrency wallet is associated with the network computing device.

10 . The computer readable memory of claim 8 , wherein the second memory element further stores operational instructions that, when executed by the network computing device, causes the network computing device to determine the amount of the collateral cryptocurrency based on one or more of:

characteristics of the payment;

characteristics of the user computing device;

characteristics of the merchant computing device;

characteristics of the collateral cryptocurrency; and

characteristics of the cryptocurrency wallet.

11 . The computer readable memory of claim 8 , wherein the desired currency includes one of:

fiat currency; and

a cryptocurrency accepted by the merchant computing device.

12 . The computer readable memory of claim 8 , wherein the third memory element further stores operational instructions that, when executed by the cryptocurrency wallet, causes the cryptocurrency wallet to lock the amount of the collateral cryptocurrency by:

locking the amount of the collateral cryptocurrency in a smart contract of one or more smart contracts of the cryptocurrency collateral system.

13 . The computer readable memory of claim 8 further comprises:

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

when the cryptocurrency wallet does not send funds to cover the payment to the network computing device:

using, by the network computing device, the amount of the collateral cryptocurrency to cover the payment.

14 . The computer readable memory of claim 8 , wherein the fourth memory element further stores operational instructions that, when executed by the network computing device, causes the network computing device to send the amount of the desired currency to the merchant computing device by:

sending the amount of the desired currency to a merchant banking computing device associated with the merchant computing device for deposit therein.