Systems and methods for facilitating secure electronic transactions

A computing system for improving transaction processing efficiency across an identity-agnostic distributed transaction environment based on digital token value change, the distributed transaction environment comprising a payer subsystem, a payee subsystem, and two or more issuer subsystems, the computing system comprising at least one processor configured to:

• receive a first token request, at a first computing device corresponding to a first issuer subsystem, for a first digital token and a second token request, at a second computing device corresponding to a first issuer subsystem, for a second digital token, the first and the second token requests being issued by the payer subsystem, and the first and the second digital tokens to be used in one or more transactions between the payer subsystem and the payee subsystem;
• operate the first computing device to mint the first digital token using a first cryptographic protocol, the first digital token being decoupled from an identity of a customer operating the payer subsystem, the first digital token being provided based on availability of funds for the payer subsystem transmitting the first token request, the first digital token comprising a first field-based structure including:
• a first issuer identification status field that uniquely identifies the first computing device as an entity that mints the first digital token, a first token value field that identifies a value associated with the first digital token where the value is recognizable by the payer subsystem and the payee subsystem, a first authorization status field set to indicate that the first digital token is authorized for use in the distributed transaction environment, a first spent status field indicating whether the first digital token has been used previously within the distributed transaction environment, the first spent status field being set to one of a spent status or an unspent status to indicate whether the first digital token is consumed previously, and a first validation status field configurable to indicate a validated status in response to the first digital token being validated by the first computing device within the distributed transaction environment, a first conditions field defining a first conditions set governing permitted use of the first digital token, and a first conversion status field indicating whether the first digital token has been previously modified;
• transmit, from the first computing device, the first digital token to the payer subsystem for storage on the payer subsystem;
• operate the second computing device to mint the second digital token using a second cryptographic protocol, the second digital token being decoupled from the identity of the customer operating the payer subsystem, the second digital token being provided based on availability of funds for the payer subsystem transmitting the second token request, the second digital token comprising a second field-based structure including:
• a second issuer identification status field that uniquely identifies the second computing device as the entity minting the second digital token, a second token value that identifies a value associated with the second digital token where the value is recognizable by the payer subsystem and the payee subsystem, a second authorization status field set to indicate that the second digital token is authorized for use in the distributed transaction environment, a second spent status field indicating whether the second digital token has been used previously within the distributed transaction environment, the second spent status field being set to one of a spent status or an unspent status to indicate whether the second digital token is consumed previously, a second validation status field configurable to indicate a validated status in response to the second digital token being validated by the second computing device within the distributed transaction environment, a second conditions field defining a second conditions set governing permitted use of the second digital token, and a second conversion status field indicating whether the second digital token has been previously modified;
• transmit, from the second computing device, the at least one second digital token to the payer subsystem for storage on the payer subsystem;
• select an item for purchase on a user interface associated with the payer subsystem, by the customer operating the payer subsystem, the item being associated with the payee subsystem;
• receive, at the payer subsystem, an invoice for the item, the invoice being generated by the payee subsystem, the invoice identifying a corresponding monetary value of the item;
• select one of the first digital token and the second digital token with a value greater than the monetary value of the item, and designate that digital token as a selected token;
• subsequently transmit, from the payer subsystem, a change request and the selected token to the corresponding issuer subsystem that minted the selected token;
• subsequently generate, at the corresponding issuer subsystem, at least two digital change tokens, wherein a token value of one of the at least two digital change tokens is equal to the corresponding monetary value of the item as indicated in the invoice, and wherein a combined value of the at least two digital change tokens is equal to a value of the selected token;
• subsequently receive, at the payer subsystem, the at least two digital change tokens from the corresponding issuer subsystem, and designate the digital change token with a corresponding token value equal to the corresponding monetary value of the item as the transaction token;
• subsequently transmit, by the payer subsystem, the transaction token to the payee subsystem;
• subsequently receive, at an issuer subsystem, a validation request to validate the transaction token received by the payee subsystem, wherein the validation request is transmitted to the issuer subsystem based on the issuer identification status field comprised in the transaction token;
• subsequently operate the issuer subsystem to validate the transaction token to confirm that the transaction token is minted by the issuer subsystem and is in good standing and update the validation status field of the transaction token to indicate that the transaction token is validated, and upon successful validation, trigger instantaneous delivery of the item by the payee system to the customer operating the payer system, wherein the first digital token and the second digital token are in good standing when the corresponding computing devices confirm that the spent status field of the corresponding digital token identifies the unspent status;
• wherein
• if the issuer subsystem determines that the transaction token is not minted by that issuer subsystem, record a requested the transaction as unsuccessful, and
• if a corresponding conditions field of the transaction token defines a non-permitted use condition, and the computing device determines that the requested transaction violates the non-permitted use condition, recording the transaction as unsuccessful.

A non-transitory computer-readable medium storing computer-executable instructions, the instructions for causing at least one processor to execute a method performed by one or more computing devices for improving transaction processing efficiency across an identity-agnostic distributed transaction environment based on digital token value change, the distributed transaction environment comprising a payer system, a payee system, and two or more issuer systems, the method comprising:

• receiving a first token request, at a first computing device corresponding to a first issuer system, for a first digital token and a second token request, at a second computing device corresponding to a second issuer system, for a second digital token, the first and the second token requests being issued by the payer system, and the first and the second digital tokens to be used in one or more transactions between the payer system and the payee system;
• operating the first computing device to mint the first digital token using a first cryptographic protocol, the first digital token being decoupled from an identity of a customer operating the payer system, the first digital token being provided based on availability of funds for the payer system transmitting the first token request, the first digital token comprising a first field-based structure including:
• a first issuer identification status field that uniquely identifies the first computing device as an entity minting the first digital token, a first token value field that identifies a value associated with the first digital token where the value is recognizable by the payer system and the payee system, a first authorization status field set to indicate that the first digital token is authorized for use in the distributed transaction environment, a first spent status field indicating whether the first digital token has been used previously within the distributed transaction environment, the first spent status field being set to one of a spent status or an unspent status to indicate whether the first digital token is consumed previously, a first validation status field configurable to indicate a validated status in response to the first digital token being validated by the first computing device within the distributed transaction environment, a first conditions field defining a first conditions set governing permitted use of the first digital token, and a first conversion status field indicating whether the first digital token has been previously modified;
• transmitting, from the first computing device, the first digital token to the payer system for storage on the payer system;
• operating the second computing device to mint the second digital token using a second cryptographic protocol, the second digital token being decoupled from the identity of the customer operating the payer system, the second digital token being provided on availability of funds for the payer system transmitting the second token request, the second digital token comprising a second field-based structure including:
• a second issuer identification status field that uniquely identifies the second computing device as the entity minting the second digital token, a second token value field that identifies a value associated with the second digital token where the value is recognizable by the payer system and the payee system, a second authorization status field set to indicate that the second digital token is authorized for use in the distributed transaction environment, a second spent status field indicating whether the second digital token has been used previously within the distributed transaction environment, the second spent status field being set to one of a spent status or an unspent status to indicate whether the second digital token is consumed previously, a second validation status field configurable to indicate a validated status in response to the second digital token being validated by the second computing device within the distributed transaction environment, a second conditions field defining a second conditions set governing permitted use of the second digital token, and a second conversion status field indicating whether the second digital token has been previously modified;
• transmitting, from the second computing device, the second digital token to the payer system for storage on the payer system;
• selecting an item for purchase on a user interface associated with the payer system, by the customer operating the payer system, the item being associated with the payee system;
• receiving, by the payer system, an invoice for the item, the invoice being generated by the payee system, the invoice identifying a corresponding monetary value of the item;
• selecting one of the first digital token and the second digital token with a value greater than the monetary value of the item, and designating that digital token as a selected token;
• subsequently transmitting, from the payer system, a change request and the selected token to the corresponding computing device that minted the selected token;
• subsequently generating, at the corresponding computing device, at least two digital change tokens, wherein a token value of one of the at least two digital change tokens is equal to the corresponding monetary value of the item as indicated in the invoice, and wherein a combined value of the at least two digital change tokens is equal to a value of the selected token;
• subsequently receiving, at the payer system, the at least two digital change tokens from the corresponding computing device, and designating the digital change token with a corresponding token value equal to the corresponding monetary value of the item as the transaction token;
• subsequently transmitting, by the payer system, the transaction token to the payee system;
• subsequently receiving, at a computing device, a validation request to validate the transaction token received by the payee system, wherein the validation request is transmitted to the computing device based on the issuer identification status field comprised in the transaction token;
• subsequently operating the computing device to validate the transaction token to confirm that the transaction token is minted by the computing device and is in good standing and update the validation status field of the transaction token to indicate that the transaction token is validated, and upon successful validation, triggering instantaneous delivery of the item by the payee system to the customer operating the payer system, wherein the first digital token and the second digital token are in good standing when the corresponding computing devices confirm that the spent status field of the corresponding digital token identifies the unspent status;
• wherein
• if the computing device determines that the transaction token is not minted by that computing device, recording a requested transaction as unsuccessful, and
• if a corresponding conditions field of the transaction token defines a non-permitted use condition, and the computing device determines that the requested transaction violates the non-permitted use condition, recording the transaction as unsuccessful.