IP Library Patent Application 18051193
Patent Application
App. No. 18/051,193

ISSUING ENTITY ACCOUNT-BASED DIGITAL ASSETS OF A DIGITAL ASSET-BASED INTERACTION SYSTEM

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Quick Facts
Patent No.
US None
App. No.
18/051,193
Abstract

A method includes generating, by an issuing entity of a digital asset-based interaction system, issuing entity account-based digital assets, establishing a digital asset backing account with a digital asset backing entity, obtaining an amount of system digital assets from a digital asset-based interaction computing entity, and depositing the amount of system digital assets in the digital asset backing account. When a first computing entity of the one or more computing entities initiates an issuance triggering action with the issuing entity, the method further includes issuing at least a portion of the issuing entity account-based digital assets to the first computing entity, wherein the first computing entity is operable to use the at least the portion of the amount of the issuing entity account-based digital assets for digital asset-based interactions within the digital asset-based interaction system.

Claims (87)

1 . A method comprises:

generating, by an issuing entity of a digital asset-based interaction system, issuing entity account-based digital assets;

establishing, by the issuing entity, a digital asset backing account with a digital asset backing entity of the digital asset-based interaction system;

obtaining, by the issuing entity, an amount of system digital assets from a digital asset-based interaction computing entity of the digital asset-based interaction system;

depositing, by the issuing entity, the amount of the system digital assets in the digital asset backing account to back the issuing entity account-based digital assets; and

when a first computing entity of the one or more computing entities initiates an issuance triggering action with the issuing entity:

issuing, by the issuing entity, at least a portion of the issuing entity account-based digital assets to the first computing entity, wherein the first computing entity is operable to use the at least the portion of the issuing entity account-based digital assets for digital asset-based interactions within the digital asset-based interaction system, wherein a digital asset-based interaction of the digital asset-based interactions involves the first computing entity providing an amount of the at least the portion of the issuing entity account-based digital assets and a second computing entity of the digital asset-based interaction system accepting desired assets, and wherein the digital asset-based interaction includes a real-time digital asset-based interaction process and a nonreal-time digital asset-based interaction process.

2 . The method of claim 1 , wherein the real-time digital asset-based interaction process includes:

obtaining, by the digital asset-based interaction computing entity, the amount of the at least the portion of the issuing entity account-based digital assets from the first computing entity;

exchanging, by the digital asset-based interaction computing entity, the amount of the at least the portion of the issuing entity account-based digital assets for a substantially equivalent amount of the desired assets; and

sending, by the digital asset-based interaction computing entity, the amount of the desired assets to the second computing entity.

3 . The method of claim 1 , wherein the nonreal-time digital asset-based interaction process includes:

locking, by the digital asset-based interaction computing entity, at least a portion of the amount of the system digital assets in the digital asset backing account to back the digital asset-based interaction;

implementing, by the digital asset-based interaction computing entity, a nonreal-time verification process associated with the issuing entity account-based digital assets to verify the amount of the at least the portion of the issuing entity account-based digital assets;

when the amount of the at least the portion of the issuing entity account-based digital assets obtained from the first computing entity is verified by the nonreal-time verification process:

unlocking, the at least the portion of the amount of system digital assets; and

when the amount of the at least the portion of the issuing entity account-based digital assets obtained from the first computing entity is not verified by the nonreal-time verification process:

consuming, the at least the portion of the amount of system digital assets.

4 . The method of claim 1 , wherein the issuing entity account-based digital assets are representative of one or more of:

incentive units;

a monetary value;

frequent flyer miles.

customer loyalty points;

a status level of the first computing entity; and

store credit associated with the issuance entity.

5 . The method of claim 1 , wherein the issuance triggering action includes one or more of:

a successful transaction between the first computing entity and the issuing entity;

an establishment of a new membership between the first computing entity and the issuing entity;

a length of time that the first computing entity has been associated with the issuing entity; and

an amount of assets the first computing entity has spent with the issuing entity.

6 . The method of claim 1 , wherein the digital asset-based interaction includes one or more of:

a gift;

a loan;

an agreement;

identity verification;

an exchange of data;

a ticket verification; and

a digital payment transaction.

7 . The method of claim 1 , wherein the amount of system digital assets is determined based on one or more of:

size of the issuing entity account-based digital asset base;

velocity of the issuing entity account-based digital asset; and

a quantity of the issuing entity account-based digital asset.

8 . The method of claim 1 , wherein the amount of the system digital assets is substantially equivalent to the issuing entity account-based digital assets.

9 . A computer readable memory comprises:

a first memory element that stores operational instructions that, when executed by an issuing entity of a digital asset-based interaction system, causes the issuing entity to:

generate issuing entity account-based digital assets;

establish a digital asset backing account with a digital asset backing entity of the digital asset-based interaction system;

obtain an amount of system digital assets from a digital asset-based interaction computing entity of the digital asset-based interaction system;

deposit the amount of the system digital assets in the digital asset backing account to back the issuing entity account-based digital assets; and

when a first computing entity of the one or more computing entities initiates an issuance triggering action with the issuing entity:

issue at least a portion of the issuing entity account-based digital assets to the first computing entity, wherein the first computing entity is operable to use the at least the portion of the issuing entity account-based digital assets for digital asset-based interactions within the digital asset-based interaction system, wherein a digital asset-based interaction of the digital asset-based interactions involves the first computing entity providing an amount of the at least a portion of the issuing entity account-based digital assets and a second computing entity of the digital asset-based interaction system accepting desired assets, and wherein the digital asset-based interaction includes a real-time digital asset-based interaction process and a nonreal-time digital asset-based interaction process.

10 . The computer readable memory of claim 9 , wherein a second memory element that stores operational instructions that, when executed by the digital asset-based interaction computing entity, causes the digital asset-based interaction computing entity to execute the real-time digital asset-based interaction process by:

obtaining the amount of the at least the portion of the issuing entity account-based digital assets from the first computing entity;

exchanging the amount of the at least the portion of the issuing entity account-based digital assets for a substantially equivalent amount of the desired assets; and

sending the amount of the desired assets to the second computing entity.

11 . The computer readable memory of claim 9 , wherein a second memory element that stores operational instructions that, when executed by the digital asset-based interaction computing entity, causes the digital asset-based interaction computing entity to execute the nonreal-time digital asset-based interaction process by:

locking at least a portion of the amount of system digital assets in the digital asset backing account to back the digital asset-based interaction;

implementing a nonreal-time verification process associated with the issuing entity account-based digital assets to verify the amount of the at least the portion of the issuing entity account-based digital assets;

when the amount of the at least the portion of the issuing entity account-based digital assets obtained from the first computing entity is verified by the nonreal-time verification process:

unlocking the at least the portion of the amount of system digital assets; and

when the amount of the at least the portion of the issuing entity account-based digital assets obtained from the first computing entity is not verified by the nonreal-time verification process:

consuming the at least the portion of the amount of system digital assets.

12 . The computer readable memory of claim 9 , wherein the issuing entity account-based digital assets are representative of one or more of:

incentive units;

a monetary value;

frequent flyer miles.

customer loyalty points;

a status level of the first computing entity; and

store credit associated with the issuance entity.

13 . The computer readable memory of claim 9 , wherein the issuance triggering action includes one or more of:

a successful transaction between the first computing entity and the issuing entity;

an establishment of a new membership between the first computing entity and the issuing entity;

a length of time that the first computing entity has been associated with the issuing entity; and

an amount of assets the first computing entity has spent with the issuing entity.

14 . The computer readable memory of claim 9 , wherein the digital asset-based interaction includes one or more of:

a gift;

a loan;

an agreement;

identity verification;

an exchange of data;

a ticket verification; and

a digital payment transaction.

15 . The computer readable memory of claim 9 , wherein the amount of system digital assets is determined based on:

size of the issuing entity account-based digital asset base;

velocity of the issuing entity account-based digital asset; and

a quantity of the issuing entity account-based digital asset.

16 . The computer readable memory of claim 9 , wherein the amount of system digital assets is substantially equivalent to the issuing entity account-based digital assets.

Assignments (2)
CHANGE OF NAME Recorded Jul 12, 2023
From: FLEXA NETWORK INC.
To: FLEXA INC.
Reel/Frame 064256/0585 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Nov 1, 2022
From: FILTER, TREVOR; KILGORE, ZACHARY; SPALDING, TYLER ROBERT
To: FLEXA NETWORK INC.
Reel/Frame 061826/0345 →