US 2021/0342838 A1Published application

Systems and methods for receiving and distributing consideration via smart contracts on a blockchain

AssigneeTokencard Limited

InventorsDavid James HOGGARD, Mel-Rob GELDERMAN

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Abstract

Systems and methods for receiving and distributing consideration via smart contracts on a blockchain, the method being implemented by a computer system including one or more processors configured by machine-readable instructions are disclosed. Exemplary implementations may: receive a spend request responsive to a user initiating payment via a debit card; obtain contract information for the contract wallet on the blockchain associated with the debit card; determine whether or not to authorize the spend request based on the rules and the balance of the stored consideration; and responsive to a determination that the spend request should be authorized, initiate a withdrawal of the amount of consideration for the spend request from the contract wallet.

Claims16

Dependent claims

A system configured for providing limited access to stored consideration within contract wallets associated with users via smart contracts on a blockchain, the method being implemented via one or more physical processors configured by machine-readable instructions, the system comprising:

one or more hardware processors configured by machine-readable instructions to:
receive a user request to create a user account, the user request including user information to establish a contract wallet associated with the user that includes a smart contract and stored consideration;
generate a full private key for the user account that facilitates access to first level options for the contract wallet and/or the stored consideration within the contract wallet;
receive user input defining rules for a smart contract that control a system provider's access to the stored consideration within the contract wallet;
and
generate a smart contract on the blockchain between the user and the third party platform based on the user input defining the rules, wherein the smart contract governs the limited access to the stored consideration within the contract wallet associated with the user by the system provider, and
facilitate a withdraw initiated by the system provider of an amount of consideration from the contract wallet.

4 more elements

A method for providing limited access to stored consideration within contract wallets associated with users via smart contracts on a blockchain, the method being implemented via one or more physical processors configured by machine-readable instructions, the method comprising:

receiving a user request to create a user account, the user request including user information to establish a contract wallet associated with the user that includes a smart contract and stored consideration;
generating a full private key for the user account that facilitates access to first level options for the contract wallet and/or the stored consideration within the contract wallet;
receiving user input defining rules for a smart contract that control a system provider's access to the stored consideration within the contract wallet;
and
generating a smart contract on the blockchain between the user and the third party platform based on the user input defining the rules, wherein the smart contract governs the limited access to the stored consideration within the contract wallet associated with the user by the system provider, and
facilitating a withdraw initiated by the system provider of an amount of consideration from the contract wallet.

3 more elements

Dependencies are inferred from the claim text.

Facts

Application: 17/372,856Filed 12 Jul 2021
Priority: 20 Apr 2017
Published: 4 Nov 2021
Term ends: Not estimatedThe source records don’t support an estimate.

Classification14 codes

G06Q 20/405
Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check…:…
H04L 9/3239
Using cryptographic hash functions: involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD
G06Q 20/102
Specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems: bill distribution or payments
G06Q 20/26
Payment schemes or models: debit schemes, e.g. "pay now"

Family

Application62/487,967Us provisional application · filed 20 Apr 2017
Application15/912,240Division · filed 5 Mar 2018
Application17/372,856Division
US 2021/0342838 A1This patent

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

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