Decentralized use of zero knowledge proof with enhanced identity credentials to lower external counter party risks, for example to combat money laundering

Abstract

A cryptocurrency system with a communication channel, a wallet, where the wallet has a paycode and associated private key and the paycode is associated to enhanced identity. The wallet can send a zero knowledge proof on the communication channel to prove ownership of the private key and thus proof of the enhanced identity information. The wallet may include a blockchain address and associated private key. The wallet may send a zero knowledge proof on the communication channel to prove ownership of the blockchain address and thus provide proof of funds. The cryptocurrency system may include a communication channel, a wallet with a private key, where the wallet can send a zero knowledge proof on the communication channel to prove control of the private key.

Dependencies are inferred from the claim text.