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US 12,602,671 B1Granted
System and method for digital currency management using a bearer instrument
AssigneeArx Research, Inc.
InventorsCharles Cameron Robertson, David Joshua Myers, Michal Leszczynski
Life of this patent
Estimating the term…
Abstract
Systems and methods for managing and operating secure cryptocurrency or digital currency devices that mimics traditional open loop gift card aesthetics and capabilities, with significant additional capabilities that give them the benefits of cash while still being able to store and receive varying amounts of funds in a single physical instance.
Claims9
A digital currency management platform, wherein the digital currency management platform comprises:
- a first card device, wherein the first card device comprises:
- a first communication module;
- a first card key generator module;
- a first card key management module;
- and
- a first card encryption module;
- a client device, wherein the client device comprises:
- a client network module;
- a client card communication module;
- a client device input module;
- a client display module;
- and
- a client secure application module, wherein the client secure application module comprises:
- a virtual wallet module,
- a client key generator module;
- a client key management module;
- and
- a client secure user input module;
- a vendor device, wherein the vendor device comprises:
- a vendor network module;
- a vendor card communication module;
- a vendor device input module;
- a vendor display module;
- and
- a vendor secure application module, wherein the vendor secure application module comprises:
- a vendor secure user input module;
- a vendor blockchain transaction module;
- and
- a vendor virtual target card device, wherein the virtual target card device is configured to:
- generate vendor keys;
- manage vendor keys;
- encrypt keys and information;
- decrypt keys and information;
- and
- store information of the state of the vendor virtual target card;
- wherein the vendor device is configured to:
- perform a KYC check corresponding to a holder of the first card device;
- initiate a session with the first card device, wherein the initiating comprises:
- scanning the first card device;
- sending, to the first card device, an activation command, wherein upon receiving said activation command, the first card device generates key material within the card and uses said key material to place the first card device in an active mode;
- requesting the first card device sign a signature to verify its authenticity;
- retrieving public key information for the first card device;
- associating the public key information with the session;
- receiving a payment from the holder, wherein the payment is a first amount in a first currency;
- creating a blockchain address linked to the holder and the first card device;
- and
- transferring an amount of a first digital currency to the blockchain address, wherein the amount of the first digital currency is equivalent to the received payment from the holder;
- and
- wherein the digital currency management platform is configured to perform an offline transfer procedure, the offline transfer procedure comprising:
- performing, by the client device, a first scan of the first card device;
- verifying, based on the first scan, a transfer state of the first card device and the client device, wherein the transfer state corresponds to an authorization of the first card device and client device being allowed to transfer funds stored in the blockchain address;
- performing, by the client device, a second scan of a receiving card device;
- verifying, based on the second scan, a receive state of the receiving card device, wherein the receiving state corresponds to the receiving card device being allowed to receive funds;
- verifying, based on the first scan and the second scan, authenticity of the first card device and the receiving card device;
- generating a shared secret based on a source signature signed from a source public key material of the first card device and a target signature signed from a target public key material of the receiving card device;
- duplicating, onto the receiving card device, a source private key material of the first card device;
- deleting, from the first card device, the source private key material;
- and
- verifying that the receiving card device holds the duplicated source private key material and that the first card device no longer holds the source private key material.
56 more elements
A method for digital currency management, wherein the method comprises:
- selecting, by a customer, a first card device;
- performing, at a vendor device, a KYC check corresponding to the customer;
- initiating, by the vendor device, a session with the first card device, wherein the initiating comprises:
- scanning the first card device;
- sending, to the first card device, an activation command, wherein upon receiving said activation command, the first card device generates key material within the card and uses said key material to place the first card device in an active mode;
- requesting the first card device sign a signature to verify its authenticity;
- retrieving public key information for the first card device;
- associating the public key information with the session;
- receiving a payment from the customer, wherein the payment is a first amount in a first currency;
- creating a blockchain address linked to the customer and the first card device;
- and
- transferring an amount of a first digital currency to the blockchain address, wherein the amount of the first digital currency is equivalent to the received payment from the customer;
- and
- performing an offline transfer procedure, the offline transfer procedure comprising:
- performing, by a client device, a first scan of the first card device;
- verifying, based on the first scan, a transfer state of the first card device and the client device, wherein the transfer state corresponds to an authorization of the first card device and client device being allowed to transfer funds stored in the blockchain address;
- performing, by the client device, a second scan of a receiving card device;
- verifying, based on the second scan, a receive state of the receiving card device, wherein the receiving state corresponds to the receiving card device being allowed to receive funds;
- verifying, based on the first scan and the second scan, authenticity of the first card device and the receiving card device;
- generating a shared secret based on a source signature signed from a source public key material of the first card device and a target signature signed from a target public key material of the receiving card device;
- duplicating, onto the receiving card device, a source private key material of the first card device;
- deleting, from the first card device, the source private key material;
- and
- verifying that the receiving card device holds the duplicated source private key material and that the first card device no longer holds the source private key material.
21 more elements
A non-transitory computer readable medium having instructions stored thereon that, when executed by a processing device, cause the processing device to perform operations comprising:
- performing, at a vendor device, a KYC check corresponding to a customer;
- initiating, by the vendor device, a session with a first card device selected by the customer, wherein the initiating comprises:
- scanning the first card device;
- sending, to the first card device, an activation command, wherein upon receiving said activation command, the first card device generates key material within the card and uses said key material to place the first card device in an active mode;
- requesting the first card device sign a signature to verify its authenticity;
- retrieving public key information for the first card device;
- associating the public key information with the session;
- receiving a payment from the customer, wherein the payment is a first amount in a first currency;
- creating a blockchain address linked to the customer and the first card device;
- and
- transferring an amount of a first digital currency to the blockchain address, wherein the amount of the first digital currency is equivalent to the received payment from the customer;
- and
- performing an offline transfer procedure, the offline transfer procedure comprising:
- performing, by a client device, a first scan of the first card device;
- verifying, based on the first scan, a transfer state of the first card device and the client device, wherein the transfer state corresponds to an authorization of the first card device and client device being allowed to transfer funds stored in the blockchain address;
- performing, by the client device, a second scan of a receiving card device;
- verifying, based on the second scan, a receive state of the receiving card device, wherein the receiving state corresponds to the receiving card device being allowed to receive funds;
- verifying, based on the first scan and the second scan, authenticity of the first card device and the receiving card device;
- generating a shared secret based on a source signature signed from a source public key material of the first card device and a target signature signed from a target public key material of the receiving card device;
- duplicating, onto the receiving card device, a source private key material of the first card device;
- deleting, from the first card device, the source private key material;
- and
- verifying that the receiving card device holds the duplicated source private key material and that the first card device no longer holds the source private key material.
20 more elements
Dependencies are inferred from the claim text.