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US 2020/0027066 A1Published application
Blockchain-Based Digital Token Utilization
AssigneeBank of America Corporation
InventorsSuki Ramasamy, Sasidhar Purushothaman
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Abstract
Methods, systems, and apparatuses for blockchain-based digital token utilization are described herein. Data corresponding to digital tokens may be stored on a blockchain associated with a decentralized peer-to-peer (P2P) network. Smart contracts for collecting digital tokens in exchange for service provider tokens may be deployed to the blockchain. Smart contracts for distributing digital tokens based on credit tokens may be deployed to the blockchain. Through execution of the smart contracts, digital tokens may be utilized by users in various ways.
Claims20
A system, comprising:
- a data storage device storing at least a portion of a blockchain of a decentralized person to person (P2P) network;
- a computing device comprising:
- one or more processors;
- and
- memory storing computer readable instructions that, when executed by the one or more processors, cause the computing device to:
- register, based on a first registration request, a collection smart contract by adding a first new block to the blockchain, wherein the first new block comprises the collection smart contract;
- receive, from a first user computing device, a first event message comprising information corresponding to a first plurality of tokens, a smart contract identifier, and a first device identifier associated with the first user computing device;
- authenticate the first event message based on the first device identifier;
- execute, based on authentication of the first event message, the collection smart contract by causing transfer, by a service provider token holder to memory associated with the collection smart contract, a first amount of service provider tokens;
- receive, from a second user computing device, a second event message comprising information corresponding to a second plurality of digital tokens, the smart contract identifier, and a second device identifier associated with the second user computing device;
- authenticate the second event message based on the second device identifier;
- and
- execute the collection smart contract based on an authentication of the second event message, by causing transfer from a digital token holder associated with the second user computing device and to memory associated with the collection smart contract, a first amount of the digital tokens;
- and
- transfer, from the memory associated with the collection smart contract to a service provider token holder associated with the second user computing device, the second amount of the service provider tokens based on a token exchange rate.
12 more elements
A method for managing, in a decentralized peer-to-peer (P2P) network, a blockchain of the decentralized P2P network:
- registering, based on a first registration request from a first user computing device, a collection smart contract by adding a first new block to the blockchain, wherein the first new block comprises the collection smart contract;
- authenticating a first event message based on a digital signature associated with the first user computing device, wherein the first event message is received from the first user computing device and comprises an indication of a first amount of service provider tokens;
- transferring, from a service provider token holder associated with the first user computing device and to a memory associated with the collection smart contract, the first amount of the service provider tokens;
- authenticating a second event message received from a second user computing device based on a second digital signature associated with the second user computing device;
- and
- based on the second event message:
- transferring, from a digital token holder associated with the second user computing device and to the memory associated with the collection smart contract, a first amount of the digital tokens;
- and
- transferring, based on a digital token exchange rate and from the memory associated with the collection smart contract and to a service provider token holder associated with the second user computing device, a second amount of the service provider tokens.
6 more elements
One or more non-transitory computer readable media storing instructions that, when executed by a computing platform configured to operate in a decentralized peer-to-peer (P2P) network, the computing platform including one or more processors and memory storing at least a portion of a blockchain of the decentralized P2P network, cause the computing platform to:
- register, based on a first registration request from a first user computing device, a collection smart contract by adding a first new block to the blockchain, wherein the first new block comprises the collection smart contract;
- authenticate a first event message based on a digital signature associated with the first user computing device, wherein the first event message is received from the first user computing device and comprises an indication of a first amount of service provider tokens;
- transfer, from a service provider token holder associated with the first user computing device and to a memory associated with the collection smart contract, the first amount of the service provider tokens;
- authenticate a second event message received from a second user computing device based on a second digital signature associated with the second user computing device;
- and
- based on the second event message:
- transfer, from a digital token holder associated with the second user computing device and to the memory associated with the collection smart contract, a first amount of the digital tokens;
- and
- transfer, based on a digital token exchange rate and from the memory associated with the collection smart contract and to a service provider token holder associated with the second user computing device, a second amount of the service provider tokens.
6 more elements
Dependencies are inferred from the claim text.