Device, system, and method for transfer of commodities
US10552905B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jul 22, 2016 |
| Grant date | Feb 4, 2020 |
| Priority date | — |
| Expiry date | Aug 11, 2038 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L2209/56
- WIPO fieldDigital communication
- WIPO sectorElectrical engineering
Abstract
A device, system, and method transfer commodities using tokens. The method performed by a first entity includes receiving a first request from a second entity to transfer tokens from the second entity to a third entity, the tokens including data representing an ownership position of a commodity by the second entity, at least a portion of the commodity being in a physical possession of the first entity. The method includes receiving a second request from the third entity to transfer the tokens from the second entity to the third entity. The method includes when the first request matches the second request, verifying the ownership position of the tokens by the second entity. The method includes upon the successful verification of the ownership position of the tokens, updating the ownership position of the tokens from the second entity to the third entity.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.