# US 10,762,478 B1 · Creating and managing private electronic currency > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 10,762,478 B1 - Document ID: US10762478B1 - Status: Granted - Kind: B1 - Application number: 15/669,486 - Filed: 2017-08-04 - Granted: 2020-09-01 - Earliest claimed: 2017-08-04 - Assignees: Wells Fargo Bank, N.A. - Applicants: Wells Fargo Bank, N.A. - Inventors: Joon Maeng - Web page: https://patentgrep.com/patent/US10762478B1 ## CPC - G06Q 20/0658: {e-cash managed locally} - G06Q 20/02: involving a neutral party, e.g. certification authority, notary or trusted third party [TTP] - G06Q 20/065: {using e-cash} - G06Q 20/10: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems - G06Q 20/36: using electronic wallets or electronic money safes - G06Q 20/367: {involving electronic purses or money safes} - G06Q 20/3678: {e-cash details, e.g. blinded, divisible or detecting double spending} - G06Q 40/00: Finance; Insurance; Tax strategies; Processing of corporate or income taxes - G06Q 2220/00: Business processing using cryptography - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR ## Abstract Methods and systems are disclosed for transactions with a private digital currency. The private e-currency may be backed by a financial institution, managed using a blockchain, and only available for transactions with members of a network associated with the financial institution. The members may include mobile wallets, merchants and ATM's. A mobile wallet may register with the network and receive an amount of the private e-currency from the financial institution. The mobile wallet may establish a connection with a payment recipient such as another wallet, an ATM or a merchant, and receive a payee address. The mobile wallet may send a transaction request to the blockchain for payment to the payee address of a payment amount of the private e-currency, so that the payment recipient can, using a blockchain, confirm or deny the transaction request. ## Claims ### Claim 1 A method for transacting with a payment recipient using a mobile wallet operating on a computing device, the method comprising: registering, by the mobile wallet, with a network associated with a financial institution (FI), the network including a number of registered members including the payment recipient and the mobile wallet; receiving, by the mobile wallet, a private e-currency from an FI system associated with the FI, the private e-currency being a digital currency that is managed using a blockchain, guaranteed by the financial institution to be convertible into a government-backed currency and only available for transactions with members of the network, the private e-currency being associated with a private e-currency (PE) address; establishing, by the mobile wallet, communication with the payment recipient; receiving, by the mobile wallet, a payment recipient address from the payment recipient; sending, by the mobile wallet, a transaction request for paying the payment recipient, the transaction request including a payment amount of private e-currency, the payment recipient address and a PE address, wherein the payment recipient can, using the blockchain, confirm that the payment amount is stable; and receiving, by the mobile wallet, a confirmation or a denial of the transaction request from the payment recipient. ### Claim 2 (depends on 1) The method of claim 1, further including sending, by the mobile wallet to the FI system, payment credentials associated with a financial account for paying for a deposit of the private e-currency. ### Claim 3 (depends on 2) The method of claim 2, wherein receiving the private e-currency from the FI system further includes receiving an address for the private e-currency. ### Claim 4 (depends on 1) The method of claim 1, wherein sending the transaction request includes sending the transaction request to one or more computing systems for one or more of confirming the transaction request and writing the transaction request to a block in the blockchain. ### Claim 5 (depends on 1) The method of claim 1, further including displaying an amount of one or more government-backed currencies corresponding to an available amount of the private e-currency. ### Claim 6 (depends on 1) The method of claim 1, further including determining a location of the computing device and selectively displaying, based on the location, an amount of a government-backed currency corresponding to an available amount of the private e-currency. ### Claim 7 (depends on 1) The method of claim 1, further including storing, using the mobile wallet, the PE address and a private key associated with the private e-currency. ### Claim 8 (depends on 1) The method of claim 1, wherein the payment recipient is an automated transaction machine (ATM); the method further including receiving, from the ATM, government-backed paper currency in an amount corresponding to the payment amount of the private e-currency. ### Claim 9 (depends on 1) The method of claim 1, wherein the payment amount exceeds a purchase price of a product (good or service) by a difference, the method further including receiving, by the mobile wallet, a notification from the payment recipient that the payment recipient issued private e-currency in the amount of the different to the mobile wallet. ### Claim 10 (depends on 1) The method of claim 1, wherein the private e-currency is a universal currency capable of being redeemed in multiple different government issued paper currencies. ### Claim 11 A system for transacting with a payment recipient using a mobile wallet operating on a computing device, the system comprising: at least one processor; and at least one storage device comprising instructions, which when executed by the at least one processor, configure to at least one processor to perform operations comprising: registering, by the mobile wallet, with a network associated with a financial institution (FI), the network including a number of registered members including the payment recipient and the mobile wallet; receiving, by the mobile wallet, a private e-currency from an FI system associated with the FI, the private e-currency being a digital currency that is managed using a blockchain, guaranteed by the financial institution to be convertible into a government-backed currency and only available for transactions with members of the network, the private e-currency being associated with a private e-currency (PE) address; establishing, by the mobile wallet, communication with the payment recipient; receiving, by the mobile wallet, a payment recipient address from the payment recipient; sending, by the mobile wallet, a transaction request for paying the payment recipient, the transaction request including a payment amount of private e-currency, the payment recipient address and a PE address, wherein the payment recipient can, using the blockchain, confirm that the payment amount is stable; and receiving, by the mobile wallet, a confirmation or a denial of the transaction request from the payment recipient. ### Claim 12 (depends on 11) The system of claim 11, wherein sending the transaction request includes sending the transaction request to one or more computing systems for one or more of confirming the transaction request and writing the transaction request to a block in the blockchain. ### Claim 13 (depends on 11) The system of claim 11, further including determining a location of the computing device and selectively displaying, based on the location, an amount of a government-backed currency corresponding to an available amount of the private e-currency. ### Claim 14 A machine-readable medium comprising instructions thereon that, when executed by a processor unit, cause the processor unit to execute operations for transacting with a payment recipient using a mobile wallet operating on a computing device, the operations comprising: registering, by a mobile wallet, with a network associated with a financial institution (FI), the network including a number of registered members including the payment recipient and the mobile wallet; receiving, by the mobile wallet, a private e-currency from an FI system associated with the FI, the private e-currency being a digital currency that is managed using a blockchain, guaranteed by the financial institution to be convertible into a government-backed currency and only available for transactions with members of the network, the private e-currency being associated with a private e-currency (PE) address; establishing, by the mobile wallet, communication with the payment recipient; receiving, by the mobile wallet, a payment recipient address from the payment recipient; sending, by the mobile wallet, a transaction request for paying the payment recipient, the transaction request including a payment amount of private e-currency, the payment recipient address and a PE address, wherein the payment recipient can, using the blockchain, confirm that the payment amount is stable; and receiving, by the mobile wallet, a confirmation or a denial of the transaction request from the payment recipient.