US 2019/0318326 A1Published application

Cryptocurrency kiosk/atm device and system and method of using the same

OwnerJohn Russell, Mark Russellinventors

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Abstract

A standalone cryptocurrency kiosk/ATM device including at least the following components: (i) a bill validator; (ii) bill dispenser; (iii) printer; (iv) code scanner; (v) touch screen display; (vi) computing power in the form of a processor/controller; and (vii) internet connection means. The standalone device may include other components such as a backup power supply. In practice, the standalone device facilitates the purchase and sale of cryptocurrency. A plurality of devices and central computer/server may form a network of devices. A lightning network may be used in combination with a blockchain network to increase transaction speeds.

Claims16

Dependent claims

A device comprising:

a bill validator;
a bill dispenser;
a user interface;
and
a processor programmed to run executable instructions, said executable instructions causing said processor, responsive to a request by a user via said user interface, to:
for purposes of receiving cryptocurrency in exchange for cash:
(i) upon availability in a local cryptocurrency inventory associated with said device and accessible by said processor, transmit cryptocurrency from said local cryptocurrency inventory to a remote unique user-supplied digital address in exchange for cash inserted into, and said cash validated by, said bill validator, said remote unique user-supplied digital address supplied by said user via said user interface;
and (ii) upon a lack of availability in said local cryptocurrency inventory, automatically communicate, via a network connection, with a third party cryptocurrency exchange remote from said device to determine availability of cryptocurrency at said cryptocurrency exchange at least equivalent to said cash inserted into said device, if available at said cryptocurrency exchange, purchase cryptocurrency, accept said purchased cryptocurrency into said local cryptocurrency inventory and electronically transmit said cryptocurrency to said remote unique user-supplied digital address in exchange for said cash inserted into said bill validator;
and
for purposes of receiving cash in exchange for cryptocurrency:
verify cryptocurrency transmitted by said user from said remote unique user-supplied digital address to said local cryptocurrency inventory and, if verified, dispense cash via said bill dispenser in exchange for said cryptocurrency transmitted by said user from said remote unique user-supplied digital address to said digital cryptocurrency inventory.

8 more elements

Dependencies are inferred from the claim text.

Facts

Application: 16/452,450Filed 25 Jun 2019
Priority: 16 Jul 2013
Published: 17 Oct 2019
Term ends: Not estimatedThe source records don’t support an estimate.

Classification10 codes

G06Q 20/065
Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme: using e-cash
G06Q 20/1085
Remote banking, e.g. home banking: involving automatic teller machines [ATMs]
G06Q 20/18
Payment architectures: involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
G06Q 20/3276
Short range or proximity payments by means of M-devices: using a pictured code, e.g. barcode or QR-code, being read by the M-device

Family

Application13/942,930Continuation in part · filed 16 Jul 2013
Application16/452,450Continuation in part
US 10,332,205 B1Related patent
US 2019/0318326 A1This patent

From the US filing history. Foreign family members aren’t listed.

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