# US 2019/0356641 A1 · System and Method for Performing Social Media Cryptocurrency Transactions

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- Number: US 2019/0356641 A1
- Document ID: US20190356641A1
- Status: Published application
- Kind: A1
- Application number: 16/527,335
- Filed: 2019-07-31
- Published: 2019-11-21
- Earliest claimed: 2014-03-31
- Assignees: Monticello Enterprises LLC
- Applicants: Monticello Enterprises LLC
- Inventors: Thomas M. Isaacson; Ryan Connell Durham
- Web page: https://patentgrep.com/patent/US20190356641A1

## CPC

- G06Q 30/0625: {by formulating product or service queries, e.g. using keywords or predefined options}
- G06Q 10/40: Business processes related to social networking or social networking services
- G06Q 20/065: {using e-cash}
- G06Q 20/322: {Aspects of commerce using mobile devices [M-devices]}
- G06Q 20/3674: {involving authentication}
- G06Q 20/384: {using social networks}
- G06Q 20/386: {using messaging services or messaging apps (using mobile network messaging services for payment, e.g. SMS G06Q20/3255)}
- G06Q 20/401: {Transaction verification}
- G06Q 20/40975: {using encryption therefor}
- G06Q 30/0633: {Managing shopping lists, e.g. compiling or processing purchase lists (shipping orders G06Q10/083; order filling G06Q10/087)}
- G06Q 30/0635: {replenishment orders; recurring orders}
- G06Q 30/0641: {utilising user interfaces specially adapted for shopping}
- H04L 9/3231: {Biological data, e.g. fingerprint, voice or retina (network architectures or network communication protocols for supporting authentication of entities using biometrical features in a packet data network H04L63/0861)}
- H04L 9/3239: {involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD}
- H04L 9/3297: {involving time stamps, e.g. generation of time stamps}
- H04L 9/50: {using hash chains, e.g. blockchains or hash trees}
- H04W 12/47: using near field communication [NFC] or radio frequency identification [RFID] modules
- G06Q 2220/00: Business processing using cryptography
- H04L 2209/56: Financial cryptography, e.g. electronic payment or e-cash
- H04W 12/77: Graphical identity
- 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
- H04L: TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION (arrangements common to telegraphic and telephonic communication H04M)
- H04W: WIRELESS COMMUNICATION NETWORKS (broadcast communication H04H; communication systems using wireless links for non-selective communication, e.g. wireless extensions H04M1/72)

## Abstract

A method includes receiving, at a social media software module operating on a user device, input from a first user associated with a payment from the first user to a second user, wherein the social media software module provides a social media interaction which enables communication between the first user and the second user, receiving, in connection with use of the social media software module for the social media interaction, a payment authorization from the first user for the payment to the second user and initiating, from the social media software module and based on the payment authorization, a blockchain-based payment from the first user to the second user. This approach incorporates a cryptocurrency wallet into a social media application to reduce friction and enable easy payments between users of the social media application using a cryptocurrency for at least part of the transfer of value from one user to another.

## Claims

### Claim 1

A method comprising:
receiving, at a social media software module operating on a user device, input from a first user associated with a payment from the first user to a second user, wherein the social media software module provides a social media interaction which enables communication between the first user and the second user;
receiving, in connection with use of the social media software module for the social media interaction, a payment authorization from the first user for the payment to the second user; and
initiating, from the social media software module and based on the payment authorization, a blockchain-based cryptocurrency payment from the first user to the second user.

### Claim 2 (depends on 1)

The method of claim 1, wherein the second user comprises one of a person or an entity.

### Claim 3 (depends on 1)

The method of claim 1, wherein the social media software module is associated with one of a messaging application or an on-line social media site.

### Claim 4 (depends on 3)

The method of claim 3, wherein the messaging application provides a message with which the first user can interact to provide the payment authorization.

### Claim 5 (depends on 1)

The method of claim 1, wherein the payment authorization is provided via a biometric reading associated with the first user.

### Claim 6 (depends on 1)

The method of claim 1, wherein the social media software module transmits a payment request to a second software module operating on the user device, the second software module having an application programming interface that defines a protocol for communicating data between the social media software module and the second software module for managing the payment from the first user to the second user.

### Claim 7 (depends on 1)

The method of claim 1, wherein the first user provides the payment authorization via a text in the social media software module.

### Claim 8 (depends on 7)

The method of claim 7, wherein the text identifies both the second user and an amount associated with the blockchain-based cryptocurrency payment.

### Claim 9 (depends on 1)

The method of claim 1, wherein the blockchain-based cryptocurrency payment from the first user to the second user comprises initiating a payment from a first user wallet associated with the first user to a second user wallet associated with the second user.

### Claim 10

A method comprising:
receiving via a social media application an identification of a first user and a second user, wherein the social media application is integrated with a cryptocurrency wallet which enables a transfer of a value from the first user to the second user utilizing a blockchain-based system in which a distributed consensus protocol operating on a plurality of distributed compute nodes updates a distributed ledger when transactions occur and in which multiple copies of the distributed ledger exist across the plurality of distributed compute nodes;
receiving a confirmation from the first user of a payment of an amount of currency to the second user within the social media application; and
based on the confirmation, initiating a transaction which results in the payment from the first user to the second user of the amount of the currency which is recorded on the blockchain-based system in which the transaction is added to a block in the blockchain-based system according to the distributed consensus protocol.

### Claim 11 (depends on 10)

The method of claim 10, wherein the currency comprises one of a cryptocurrency, a fiat currency, points, or a value.

### Claim 12 (depends on 11)

The method of claim 11, wherein when the currency comprises a fiat currency, the social media applications utilizes an exchange to convert the currency from the fiat currency to the cryptocurrency.

### Claim 13 (depends on 10)

The method of claim 10, wherein the first user is one of a person, a bot, or a merchant and wherein the second user is one of a person, a bot, or a merchant.

### Claim 14 (depends on 10)

The method of claim 10, further comprising, upon the confirmation, signing the transaction using a private key of the first user.

### Claim 15 (depends on 14)

The method of claim 14, wherein the private key is stored with the social media application.

### Claim 16

A method comprising:
engaging, by a first user, in a social media interaction with a second user using a social media application;
receiving a confirmation of an authorized payment within the social media application of a blockchain-based payment from the second user to the first user, wherein the social media application comprises an integrated cryptocurrency wallet which enables a transfer of a value from the second user to the first user utilizing a blockchain-based system in which a distributed consensus protocol operating on a plurality of distributed compute nodes updates a distributed ledger when transactions occur and in which multiple copies of the distributed ledger exist across the plurality of distributed compute nodes; and
receiving, as managed by the social media application, the blockchain-based payment at a first wallet associated with the first user from a second wallet associated with the second user.

### Claim 17 (depends on 16)

The method of claim 16, wherein the first user and the second user each comprise one of a human user or a computing entity.

### Claim 18 (depends on 16)

The method of claim 16, wherein the first user and the second user are both registered with the social media application.

### Claim 19 (depends on 16)

The method of claim 16, wherein the social media application comprises one of a website and an application downloaded on a device associated with the first user.

### Claim 20 (depends on 16)

The method of claim 16, wherein the payment is performed in one of a cryptocurrency or a fiat currency and when the currency comprises a fiat currency, the social media applications utilizes an exchange to convert the currency from the fiat currency to the cryptocurrency.