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US 2022/0067716 A1Published application
System and method for utilizing multi-pegged digital contracts as part of payment processing
AssigneeFinAgility Inc.
InventorDragos Stanescu
Life of this patent
Estimating the term…
Abstract
A system and method for utilizing multi-pegged digital contracts as part of a payment processing system.
Claims20
A system comprising:
- a processor;
- and
- a memory device that stores a plurality of instructions that, when executed by the processor, cause the processor to:
- responsive to a currency entrance event associated with a first amount of currency, cause a corresponding first quantity of pegged digital contracts to be issued in a blockchain;
- and
- responsive to a currency exit event associated with a second amount of currency, cause a corresponding second quantity of pegged digital contracts to be burned from the blockchain.
3 more elements
A system comprising:
- a processor;
- and
- a memory device that stores a plurality of instructions that, when executed by the processor responsive to a currency conversion event associated with a first amount of a first currency to a second amount of a second, different currency, cause the processor to:
- cause a first quantity of pegged digital contracts corresponding to the first amount of the first currency to be burned from a blockchain;
- and
- cause a second quantity of pegged digital contracts corresponding to the second amount of the second, different currency to be issued in the blockchain.
3 more elements
A method of operating a system, the method comprising:
- responsive to a currency entrance event associated with a first amount of currency, causing, by a processor, a corresponding first quantity of pegged digital contracts to be issued in a blockchain;
- and
- responsive to a currency exit event associated with a second amount of currency, causing, by the processor, a corresponding second quantity of pegged digital contracts to be burned from the blockchain.
Dependencies are inferred from the claim text.