Distributed ledger based distributed gaming system

A non-transitory computer readable memory storing computer instructions for administering transactions for a gambling casino in a distributed gaming system, including selling chips and redeeming chips using a private database, a distributed ledger and a declared set of tokens, the set of tokens being fiat-backed, comprising:

• maintaining a plurality of administrator wallets, at least one of the administrator wallets in the plurality of administrator wallets having a unique house identifier and private key to track transactions on the distributed ledger that include the unique house identifier, the plurality of administrator wallets including a token vault, and a one directional redemption wallet wherein tokens transferred to the one directional redemption wallet are withdrawn from circulation in the distributed ledger;
• maintaining user accounts for customers, including customer wallets having unique customer identifiers and private keys to track transactions on the distributed ledger that include the unique customer identifiers;
• maintaining dealer accounts for dealers;
• and
• executing an application program interface (abbreviated API) with client side nodes, the API having procedures:
• accepting token purchase messages indicating confirmation of fiat payment attributed to the user account for a particular customer and in response transferring tokens which are members of the set of tokens from the token vault to a customer wallet on the distributed ledger;
• accepting chip purchase messages indicating confirmation of delivery of chips from a dealer account to an identified user account, and in response transferring tokens which are members of the set of tokens from the customer wallet of the identified user account to the one directional redemption wallet, and recording the purchase of chips in the private database;
• and
• accepting chip redemption messages indicating confirmation of delivery of chips attributed to the user account for a particular customer to a dealer account, and in response transferring tokens which are members of the set of tokens from one of the administrator wallets in the plurality of administrator wallets to the customer wallet of the identified user account on the distributed ledger, and recording the redemption of chips in the private database.

A method of administering transactions for a gambling casino in a distributed gaming system, including selling chips and redeeming chips using a private database, a distributed ledger and a declared set of tokens, the set of tokens being fiat-backed, comprising:

• maintaining a plurality of administrator wallets, at least one of the administrator wallets in the plurality of administrator wallets having a unique house identifier and private key to track transactions on the distributed ledger that include the unique house identifier, the plurality of administrator wallets including a one directional redemption wallet wherein tokens transferred to the one directional redemption wallet are withdrawn from circulation in the distributed ledger;
• maintaining user accounts for customers including customer wallets having unique customer identifiers and private keys to track transactions on the distributed ledger that include the unique customer identifiers;
• maintaining dealer accounts for dealers;
• and
• executing an application program interface (abbreviated API) with client side nodes, the API having procedures:
• accepting token purchase messages indicating confirmation of fiat payment attributed to the user account for a particular customer and in response transferring tokens which are members of the set of tokens from an administrator wallet to a customer wallet on the distributed ledger;
• accepting chip purchase messages indicating confirmation of delivery of chips from a dealer account to an identified user account, and in response transferring tokens which are members of the set of tokens from the customer wallet of the identified user account to the one directional redemption wallet, and recording the purchase of chips in the private database;
• and
• accepting chip redemption messages indicating confirmation of delivery of chips attributed to the user account for a particular customer to a dealer account, and in response transferring tokens which are members of the set of tokens from one of the one or more administrator wallets to the customer wallet of the identified user account on the distributed ledger, and recording the redemption of chips in the private database.