# US 2019/0172024 A1 · System and Method For Decentralized Digital Currency Issuance, Secure Transfer and De-Issuance

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- Number: US 2019/0172024 A1
- Document ID: US20190172024A1
- Status: Published application
- Kind: A1
- Application number: 16/211,701
- Filed: 2018-12-06
- Published: 2019-06-06
- Earliest claimed: 2017-12-06
- Inventors: Jon Underwood
- Web page: https://patentgrep.com/patent/US20190172024A1

## CPC

- G06Q 20/065: {using e-cash}
- G06Q 20/0655: {e-cash managed centrally}
- G06Q 20/322: {Aspects of commerce using mobile devices [M-devices]}
- G06Q 20/36: using electronic wallets or electronic money safes
- G06Q 20/401: {Transaction verification}
- G06Q 40/02: Banking, e.g. interest calculation or account maintenance (credit or loans G06Q40/03)
- 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

## Abstract

A system and method for decentralized digital currency issuance, secure transfer and de-issuance. The system delivers instant nonreversible delivery of digital currency (such as an eDollar), a cryptographically signed receipt or proxy for a dollar on deposit in a Financial Institution, Insurance Company, a Financial Services Company or under the purview or control an Investment Manager.

## Claims

### Claim 1

A method for implementing a cryptocurrency transfer out of a digital wallet as part of a Dual Payment system, comprising:
establishing, by a payment terminal of a merchant, a funding method by a consumer;
sending the consumer a payment request;
authorizing, by the consumer, the payment request;
securing authorization of a good funds guarantee and receiving a currency payment from the consumer, and issuing digital currency to a cloud account of the consumer once the authorization is secured;
completing the payment using the digital currency, wherein completing the payment further comprises sending the digital currency to a cloud account of the merchant and transferring the currency payment to a trust or bank account.

### Claim 2 (depends on 1)

The method of claim 1, further comprising causing transfer out of the trust or bank account at a merchant's request into a deposit at a financial instituting and charging the cloud account of the counter-party an equivalent amount of digital currency.

### Claim 3 (depends on 2)

The method of claim 2, wherein the funding method is a credit, or debit card, or a checking account.

### Claim 4 (depends on 3)

The method of claim 3, wherein the digital currency further comprises a stable token cryptocurrency tied to a national currency or real world asset or digital asset.

### Claim 5 (depends on 4)

The method of claim 4, wherein the consumer authorizes the payment request via a smartphone notification system.

### Claim 6 (depends on 5)

The method of claim 5, wherein the digital currency issued to the cloud account of the consumer is equivalent to the amount of the good funds guarantee.

### Claim 7 (depends on 1)

The method of claim 1, further comprising accepting a request from the merchant to pay a third party and then causing transfer out of the trust account at a merchant's request into a third party merchant and charging the cloud account of the merchant an equivalent amount of digital currency.

### Claim 8 (depends on 1)

The method of claim 1, wherein the digital currency is only created by approved vendors in order to complete a transaction for an exchange of goods and services.

### Claim 9

A system comprising:
a memory operable to:
establish, by a payment terminal of a merchant, a funding method by a consumer;
send the consumer a payment request;
authorize, by the consumer, the payment request;
secure authorization of a good funds guarantee and receive a currency payment from the consumer, and issue digital currency to a cloud account of the consumer once the authorization is secured;
complete the payment using the digital currency, wherein completing the payment further comprises sending the digital currency to a cloud account of the merchant and transferring the currency payment to a trust account.

### Claim 10 (depends on 9)

The system of claim 9, the memory further including executable instructions that upon execution cause the system to: transfer out of the trust or bank account at a merchant's request into a deposit at a financial instituting and charging the cloud account of the counter-party an equivalent amount of digital currency.

### Claim 11 (depends on 10)

The system of claim 10, wherein the funding method is a credit, or debit card, or a checking account.

### Claim 12 (depends on 11)

The system of claim 11, wherein the digital currency further comprises a stable token cryptocurrency tied to a national currency or real world or digital asset.

### Claim 13 (depends on 12)

The system of claim 12, wherein the consumer authorizes the payment request via a smartphone notification system.

### Claim 14 (depends on 13)

The system of claim 13, wherein the digital currency issued to the cloud account of the consumer is equivalent to the amount of the good funds guarantee.

### Claim 15 (depends on 14)

The system of claim 14, the memory further including executable instructions that upon execution cause the system to: accept a request from the merchant to pay a third party and then transfer out of the trust or bank account at a merchant's request into a third party merchant and charge the cloud account of the merchant an equivalent amount of digital currency.

### Claim 16 (depends on 15)

The system of claim 15, wherein the digital currency is only created by approved vendors in order to complete a transaction for an exchange of goods and services.

### Claim 17

A server comprising:
a memory operable to:
establish, by a payment terminal of a merchant, a funding method by a consumer;
send the consumer a payment request;
authorize, by the consumer, the payment request;
secure authorization of a good funds guarantee and receive a currency payment from the consumer, and issue digital currency to a cloud account of the consumer once the authorization is secured;
complete the payment using the digital currency, wherein completing the payment further comprises sending the digital currency to a cloud account of the merchant and transferring the currency payment to a trust account.

### Claim 18 (depends on 17)

The server of claim 17, the memory further including executable instructions that upon execution cause the system to: transfer out of the trust account at a merchant's request into a deposit at a financial instituting and charging the cloud account of the counter-party an equivalent amount of digital currency.

### Claim 19 (depends on 18)

The server of claim 18, wherein the funding method is a credit, or debit card, or a checking account.

### Claim 20 (depends on 19)

The server of claim 19, the memory further including executable instructions that upon execution cause the system to: accept a request from the merchant to pay a third party and then transfer out of the trust or bank account at a merchant's request into a third party merchant and charge the cloud account of the merchant an equivalent amount of digital currency.