Use verification code for validating an exchange item use request

1. A method comprises:

receiving, by a marketplace server of a communication network, a use request regarding an exchange item from a merchant computing device that is affiliated with the communication network, the exchange item includes static exchange item information that further includes one or more of a static exchange item serial number, a static issuer identifier (ID), a static owner ID, static conditions, static rules, static offers, and static use options;

retrieving, by the marketplace server, a verified device identifier associated with the exchange item from a marketplace database of the communication network based on the use request;

identifying, by the marketplace server, a user computing device based on the verified device identifier to produce an identified user computing device;

generating, by the marketplace server for the use request regarding the exchange item, first dynamic exchange item information based on the static exchange item information, wherein the first dynamic exchange item information includes one or more of a first dynamic exchange item serial number, a first dynamic issuer identifier (ID), a first dynamic owner ID, first dynamic conditions, first dynamic rules, first dynamic offers, and first dynamic use options;

generating, by the marketplace server, a use verification code based on the first dynamic exchange item information and the use request;

sending, by the marketplace server, the use verification code to the identified user computing device;

receiving, by the marketplace server, information representing the use verification code from the merchant computing device, wherein the identified computing device generated the information;

validating, by the marketplace server, the information representing the use verification code; and

when valid, sending an approval indication regarding the use request to the merchant computing device.

2. The method of claim 1 , wherein the generating the first dynamic exchange item information comprises:

obtaining, by the marketplace server, the static exchange item information and exchange item security parameters associated with the exchange item;

generating a dynamic exchange item number based on the exchange item security parameters; and

combining at least a portion of the dynamic exchange item number with at least a portion of the static exchange item information to produce the first dynamic exchange item information.

3. The method of claim 2 , wherein the exchange item security parameters comprises a secret key.

4. The method of claim 2 , wherein the exchange item security parameters comprises a time interval increment.

5. The method of claim 2 , wherein the exchange item security parameters comprises a generator algorithm identifier.

6. The method of claim 2 , wherein the exchange item security parameters comprises a combiner algorithm identifier.

7. The method of claim 2 , wherein the generating the dynamic exchange item number further comprises:

applying one or more deterministic functions in accordance with a generator algorithm identifier to select a time interval value in accordance with a time interval increment utilizing a secret key to produce the dynamic exchange item number.

8. The method of claim 2 , wherein the combining the at least the portion of the dynamic exchange item number with the at least the portion of the static exchange item information to produce the first dynamic exchange item information is based on a combiner algorithm identifier.

9. The method of claim 8 , wherein a combiner algorithm associated with the combiner algorithm identifier comprises:

an identification of static bits of the static exchange item information to replace with dynamic bits of the dynamic exchange item number.

10. The method of claim 1 further comprises:

sending, by the marketplace server, a supplement use verification request to an exchange item issuing server of the communication network; and

receiving, by the marketplace server from an exchange item trusted module of the communication network, a supplemental use verification response, wherein the exchange item trusted module and the exchange item issuing server exchange trust information.

11. The method of claim 10 , wherein the approval indication is further based on a favorable supplemental use verification response.

12. The method of claim 1 , wherein the verified device identifier is one or more of:

a phone number;

an internet protocol address; and

a social media name.

13. The method of claim 1 , wherein the generating the first dynamic exchange item information comprises:

obtaining the static exchange item information; and

performing a hash function on the static exchange item information to produce the first dynamic exchange item information.

14. The method of claim 13 , wherein the generating the use verification code comprises:

performing a second hash function on the first dynamic exchange item information to produce the use verification code.

15. The method of claim 1 , wherein the generating the use verification code comprises:

performing a hash function on the first dynamic exchange item information to produce the use verification code.

16. The method of claim 1 further comprises:

updating, by the marketplace server, a chain of custody for the exchange item by:

generating a first transaction record regarding the use request;

generating a second transaction record regarding the generating and sending the use verification code;

generating a third transaction record regarding validation of the information representing the use verification code;

generating at least one secure data block that is linked to the chain of custody, wherein each of the at least one secure data block includes a transaction section; and

including one or more of the first, second, and third transaction records in the transaction section of the at least one secure data block.

17. The method of claim 1 , wherein the generating the use verification code comprises:

generating a portion of a dynamic exchange item identifier.

18. The method of claim 1 further comprises:

initiating, by the marketplace server, a timeout period after sending the use verification code; and

when the timeout period expires prior to receiving the information representing the use verification code from the merchant computing device, denying, by the marketplace server, the use request.

19. The method of claim 18 further comprises:

when the timeout period expires prior to receiving the information representing the use verification code, sending, by the marketplace server, an exchange item disabling message to the user computing device to disable use of the exchange item.

20. The method of claim 1 , wherein the validating the information representing the use verification code comprises:

initiating, by the marketplace server, a timeout period after sending the use verification code;

when the information representing the use verification code is received prior to the timeout period expiring:

verifying that the information representing the use verification code is correct;

verifying that the exchange item has a balance that exceeds a value of the use request; and

when the information representing the use verification code is correct and the exchange item has the balance that exceeds the value of the use request, sending the approval indication to the merchant computing device.