# US 12,118,613 B2 · System and method for transferring currency using blockchain > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 12,118,613 B2 - Document ID: US12118613B2 - Status: Granted - Kind: B2 - Application number: 17/143,002 - Filed: 2021-01-06 - Published: 2021-07-08 - Granted: 2024-10-15 - Earliest claimed: 2020-01-07 - Assignees: Humbl, Inc. - Applicants: Humbl, Inc. - Inventors: Brian McLaren Foote; Adam Wolfe; Jeff Hinshaw - Web page: https://patentgrep.com/patent/US12118613B2 ## CPC - G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange - G06F 16/27: Replication, distribution or synchronisation of data between databases or within a distributed database system; Distributed database system architectures therefor - G06F 21/602: {Providing cryptographic facilities or services} - G06Q 20/02: involving a neutral party, e.g. certification authority, notary or trusted third party [TTP] - G06Q 20/0655: {e-cash managed centrally} - G06Q 20/10: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems - G06Q 20/108: {Remote banking, e.g. home banking} - G06Q 20/367: {involving electronic purses or money safes} - G06Q 20/3676: {Balancing accounts} - G06Q 20/3678: {e-cash details, e.g. blinded, divisible or detecting double spending} - G06Q 20/381: {Currency conversion} - G06Q 20/3829: {involving key management} - G06Q 20/389: {Keeping log of transactions for guaranteeing non-repudiation of a transaction} - G06Q 40/02: Banking, e.g. interest calculation or account maintenance (credit or loans G06Q40/03) - H04L 9/0894: {Escrow, recovery or storing of secret information, e.g. secret key escrow or cryptographic key storage} - H04L 9/3239: {involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD} - H04L 9/50: {using hash chains, e.g. blockchains or hash trees} - H04L 63/0428: {wherein the data content is protected, e.g. by encrypting or encapsulating the payload} - G06Q 10/10: Office automation; Time management - G06Q 2220/00: Business processing using cryptography - H04L 63/0227: {Filtering policies (mail message filtering H04L51/212)} - H04L 63/0272: {Virtual private networks} - H04L 63/083: {using passwords (cryptographic mechanisms or cryptographic arrangements for entity authentication using a predetermined code H04L9/3226)} - H04L 63/145: {the attack involving the propagation of malware through the network, e.g. viruses, trojans or worms} - H04L 2209/56: Financial cryptography, e.g. electronic payment or e-cash - 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 - G06F: ELECTRIC DIGITAL DATA PROCESSING (computer systems based on specific computational models G06N) - H04L: TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION (arrangements common to telegraphic and telephonic communication H04M) ## Abstract A financial services system that utilizes a user device and a blockchain having a blockchain ledger includes. a host database having a non-transitory computer-readable medium including code and a host controller that executes the code. The host controller enables communication between a first digital wallet on the user device and one of a local currency account and a digital currency account to initiate a deposit via one of the currency accounts. The deposit can be assigned a transaction ID that is recorded to the blockchain ledger. The transaction ID can include a deposit currency value. A method for transferring currency includes the steps of enabling communication between a first digital wallet on a user device and one of a local currency account and a digital currency account with a host controller of a host database to initiate a deposit via one of the currency accounts, assigning a transaction ID to the deposit, and recording the transaction ID that includes a deposit currency value to a blockchain ledger. ## Claims ### Claim 1 A financial services system that transfers currency comprising a user device and a blockchain that increases transfer speeds, reduces settlement times, and improves security, the blockchain having a blockchain ledger, the financial services system further comprising: a host database including a non-transitory computer-readable medium including code and a host controller that executes the code, the host controller enabling communication between a first digital wallet on the user device and one of a local currency account and a digital currency account that initiates a deposit via one of the currency accounts, the deposit being assigned a transaction ID that is recorded to the blockchain ledger, the transaction ID including a deposit currency value, the host controller being configured to send and store the deposit in a pool account, the host controller being configured to assign a balance equal to the deposit currency value to one of the currency account and the first digital wallet, the balance being verified by the based on one or more of (i) payment delivery speed, (ii) available transfer channels, (iii) block mining times, and (iv) transaction fee structures, wherein the host controller is configured to enable withdrawal of at least a portion of the balance, the host controller being configured to embed transactional financial data directly into the blockchain, reducing a computation burden on the host controller, increasing security of the transactional financial data, improving encryption of the transactional financial data, and improving performance of the user device and the host controller; and wherein the host database includes (i) an encrypted partition configured to store encrypted user data with a cryptographic key, and (ii) an encrypted tunnel configured to protect and prevent unauthorized access to the financial services system such that data within the host database is encrypted with asymmetric encryption that signs and verifies signatures for blockchain cryptography operations. ### Claim 2 (depends on 1) The financial services system of claim 1 wherein the host controller is configured to enable a withdrawal of a withdrawal amount equal to at least a portion of the balance from the pool account. ### Claim 3 (depends on 2) The financial services system of claim 2 wherein the host controller is configured to dynamically determine the withdrawal amount in any of a plurality of currencies with a foreign exchange rate pricing algorithm on the non-transitory computer-readable medium. ### Claim 4 (depends on 2) The financial services system of claim 2 wherein the host controller is configured to transfer the withdrawal amount to the first digital wallet. ### Claim 5 (depends on 2) The financial services system of claim 2 wherein the host controller is configured to update the blockchain ledger to reflect the withdrawal amount. ### Claim 6 (depends on 1) The financial services system of claim 1 wherein the host controller is configured to execute a balance transfer from the first digital wallet to a second digital wallet that is different than the first digital wallet. ### Claim 7 (depends on 6) The financial services system of claim 6 wherein the host controller is configured to update the blockchain ledger that reflects the balance transfer from the first digital wallet to the second digital wallet. ### Claim 8 (depends on 1) The financial services system of claim 1 wherein data within the host database is encrypted with a 256-bit Advanced Encryption Standard. ### Claim 9 (depends on 1) The financial services system of claim 1 wherein the encrypted tunnel uses transport layer security between at least one of (i) servers, (ii) web infrastructure, and (ii) security provider. ### Claim 10 A financial services system for transferring currency utilizing a user device and a blockchain to enable increased transfer speeds, reduced settlement times, and improved security, the blockchain having a blockchain ledger, the financial services system comprising: a host database including a non-transitory computer-readable medium including code and a host controller that executes the code, the host controller enabling communication between a first digital wallet on the user device and one of a local currency account and a digital currency account to initiate a deposit via one of the currency accounts, the deposit being assigned a transaction ID that is recorded to the blockchain ledger, the transaction ID including a deposit currency value, the host controller being configured to send and store the deposit in a pool account, the host controller being configured to assign a balance equal to the deposit currency value to one of the currency account and the first digital wallet, the balance being verified by the blockchain ledger, the host controller being configured to enable the blockchain to autonomously manage one or more workflows associated with payment processing, reducing a processing load on the host controller, the host controller being configured to dynamically determine one or more payment routes based on one or more of (i) payment delivery speed, (ii) available transfer channels, (iii) block mining times, and (iv) transaction fee structures, the host database includes an encrypted partition configured to store encrypted user data using a cryptographic key, and an encrypted tunnel configured to protect and prevent unauthorized access to the financial services system, wherein data within the host database is encrypted with asymmetric encryption that signs and verifies signatures for blockchain cryptography operations. ### Claim 11 (depends on 10) The financial services system of claim 10 wherein the host controller is configured to enable a withdrawal of a withdrawal amount equal to at least a portion of the balance from the pool account. ### Claim 12 (depends on 11) The financial services system of claim 11 wherein the host controller is configured to dynamically determine the withdrawal amount in any of a plurality of currencies using a foreign exchange rate pricing algorithm on the non-transitory computer-readable medium. ### Claim 13 (depends on 11) The financial services system of claim 11 wherein the host controller is configured to transfer the withdrawal amount to the first digital wallet. ### Claim 14 (depends on 11) The financial services system of claim 11 wherein the host controller is configured to update the blockchain ledger to reflect the withdrawal amount. ### Claim 15 (depends on 10) The financial services system of claim 10 wherein the host controller is configured to execute a balance transfer from the first digital wallet to a second digital wallet that is different than the first digital wallet. ### Claim 16 (depends on 15) The financial services system of claim 15 wherein the host controller is configured to update the blockchain ledger to reflect the balance transfer from the first digital wallet to the second digital wallet. ### Claim 17 (depends on 10) The financial services system of claim 10 wherein data within the host database is encrypted using a 256-bit Advanced Encryption Standard. ### Claim 18 A financial services system for transferring currency utilizing a user device and a blockchain to enable increased transfer speeds, reduced settlement times, and improved security, the blockchain having a blockchain ledger, the financial services system comprising: a host database including a non-transitory computer-readable medium including code and a host controller that executes the code, the host controller enabling communication between a first digital wallet on the user device and one of a local currency account and a digital currency account to initiate a deposit via one of the currency accounts, the deposit being assigned a transaction ID that is recorded to the blockchain ledger, the transaction ID including a deposit currency value, the host controller being configured to send and store the deposit in a pool account, the host controller being configured to assign a balance equal to the deposit currency value to one of the currency account and the first digital wallet, the balance being verified by the blockchain ledger, the host controller being configured to enable the blockchain to autonomously manage one or more workflows associated with payment processing, reducing a processing load on the host controller, the host controller being configured to dynamically determine one or more payment routes based on one or more of (i) payment delivery speed, (ii) available transfer channels, (iii) block mining times, and (iv) transaction fee structures, the host database including an encrypted partition configured to store encrypted user data using a cryptographic key, and an encrypted tunnel configured to protect and prevent unauthorized access to the financial services system, wherein data within the host database is encrypted with asymmetric encryption that signs and verifies signatures for blockchain cryptography operations, wherein the encrypted tunnel uses transport layer security between at least one of servers, web infrastructure, and a security provider.