Methods and systems for creating and using massless currency
AssigneeElementum, LLC
InventorLeonard M. Adleman
Life of this patent
Estimating the term…
Abstract
Methods, systems, and computer-readable storage mediums are described for effecting practical use of a dual currency which is a currency that can be electronically created and stored, and further for which there is a secret key (e.g., the secret key of a public key/secret key pair as used in public key cryptography) such that: an entity that does not possess the secret key cannot, in practice, create notes of the currency; and an entity that does possess the secret key can, in practice, create notes of the currency without assistance from entities that do not possess the secret key.
Claims10
A machine-implemented process enabling transactions using a dual currency, operations of said machine-implemented process being performed by at least one computing device of a note generating authority and said operations comprising:
- encrypting, with a secret key of the note generating authority, at least a portion of each of plural data strings to generate respectively corresponding notes of said dual currency, each of said notes having a respectively corresponding face value;
- transmitting at least some of said notes to computing devices external to the note generating authority;
- receiving, from a first user's computing device, a replacement-request including a first data string and a request for a computing device of the note generating authority to transmit to a second user's computing device, a new note of the dual currency;
- applying a single public key of the note generating authority to decrypt the first data string and produce a second data string;
- determining, based on the second data string, that the first data string is a note previously distributed by a computing device of the note generating authority to a computing device external to the note generating authority and is not a destroyed note in a list of destroyed notes maintained by a computing device of the note generating authority in a memory of the computing device;
- encrypting, with a secret key of the note generating authority, a third data string including the requested new note with a face value equal to or less than the face value of the received previously distributed note;
- adding the received previously distributed note to the list of destroyed notes;
- and
- transmitting the new note to the second user's computing device.
A non-transitory computer readable medium storing computer program code structure comprising executable computer program instructions for enabling transactions using a dual currency for which notes are generated by a note generating authority, the computer program instruction which, when executed by at least one computing device processor of a computing device of the note generating authority, causes the computing device to:
- encrypt, with a secret key of the note generating authority, at least a portion of each of plural data strings to generate respective notes of said dual currency, each of said notes having a respectively corresponding face value;
- transmit at least some of said notes to computing devices external to the note generating authority;
- receive from a first user's computing device a replacement-request including a first data string and a request for the note generating authority's computing device to transmit to a second user's computing device, a new note of the dual currency;
- apply a single public key of the note generating authority to decrypt the first data string and produce a second data string;
- determine, based on the second data string, that the first data string is a note previously distributed by a computing device of the note generating authority to a computing device external to the note generating authority and is not a destroyed note in a list of destroyed notes maintained by a computing device of the note generating authority in a memory of the computing device;
- encrypt, with a secret key of the note generating authority, a third data string including the requested new note with a face value equal to or less than the face value of the received previously distributed note;
- add the received previously distributed note to the list of destroyed notes;
- and
- transmit the new note to the second user's computing device.
A machine-implemented process enabling transactions using a dual currency, said machine-implemented process using at least one computing device of a note generating authority and comprising:
- encrypting, with a secret key of the note generating authority, at least a portion of each of plural data strings to generate respectively corresponding notes of said dual currency, each of said notes having a respectively corresponding face value;
- transmitting at least some of said notes to computing devices external to the note generating authority;
- receiving, from a first user's computing device, a replacement-request including a first data string and a request for a computing device of the note generating authority to transmit to a second user's computing device, a new note of the dual currency ;
- applying a single public key to decrypt the first data string and produce a second data string;
- determining that the second data string is not found in a destroyed notes list maintained by a computing device of the note generating authority in a memory of the computing device;
- encrypting, with a secret key of the note generating authority, a third data string including the requested new note with a face value equal to or less than the face value of the received first data string;
- adding the received first data string to the list of destroyed notes;
- and
- transmitting the new note to the second user's computing device.
Dependencies are inferred from the claim text.