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US 12,711,500 B2Granted
Closed loop blockchain gateway system
AssigneePlatinum Digital Technologies Inc.
InventorJoseph T. Goulet
Life of this patent
Estimating the term…
Abstract
Exemplary embodiments described herein include a closed loop gateway. The closed-loop gateway comprises a block chain system for tracking exchanges between users of the closed-loop gateway. The closed-loop gateway permits the exchanges to be tracked from an original source through subsequent users to permit the original source to impose conditions, restrictions, and rules on the subsequent exchanges.
Claims22
A computer-implemented method for establishing a closed loop transactional exchange blockchain, comprising:
- by a hardware processor coupled to a network and in communication with one or more storage servers and cryptographic key pair server, payment server, storage server, and other servers, wherein a closed loop transactional exchange blockchain is distributed across the one or more storage servers and cryptographic key pair server, payment server, storage server, and other servers, the hardware processor configured to electronically:
- generate a merchant access right token defining resale limits on resale of one or more salable merchant products, wherein the resale limits include a predetermined profit sharing percentage that allocates a portion of any resale profit above an initial sale price to a merchant, wherein the hardware processor is further configured to establish a unique merchant blockchain configured as a child-chain of a parent blockchain, wherein the merchant access right token is recorded on the unique merchant blockchain;
- receive from the cryptographic key pair server responsive to a first user request, a private key token for a private key;
- identify one or more user account tokens and access right tokens of one or more user child blocks that correspond to the private key;
- receive, subject to the resale limits, a first user payment via the payment server, by forging user and merchant payment child blocks identifying the payment and corresponding to identified one or more user account tokens, wherein the merchant payment child blocks and user payment child blocks each have a merchant fiat asset token corresponding to the first user payment;
- and
- exchange for the first user payment, subject to the resale limits defined by the profit sharing percentage, one or more of the salable merchant products, by forging merchant and user product exchange child blocks responsive to the first user payment, each forged block having corresponding merchant asset exchange tokens generated to identify an exchanged one or more salable merchant products.
4 more elements
A computer-implemented method for establishing a closed loop transactional exchange blockchain, comprising:
- by a hardware processor configured to electronically:
- generate a merchant access right token defining resale limits on resale of one or more salable merchant products, wherein the resale limits include a predetermined profit sharing percentage that allocates a portion of any resale profit above an initial sale price to a merchant, wherein the hardware processor is further configured to establish a unique merchant blockchain configured as a child-chain of a parent blockchain, wherein the merchant access right token is recorded on the unique merchant blockchain;
- receive from a key pair server responsive to a first user request, a private key token for a private key;
- identify one or more user account tokens and access right tokens of one or more user child blocks that correspond to the private key;
- receive, subject to the exchange resale limits, one or more of first and second user payments via a payment server, corresponding to identified one or more user account tokens, by forging payment merchant and user child blocks each having a merchant fiat asset token corresponding to a respective one of the one or more user payments;
- and
- exchange the one or more of the salable merchant products, responsive to the one or more user payments, by forging merchant and user product exchange child blocks each having respective merchant and user tokens identifying the exchange.
4 more elements
Dependencies are inferred from the claim text.