Authorizing exchange item redemption in an exchange item marketplace network

US11074584B2 · kind B2 · utility

Assignee

• Raise Marketplace, LLC · US

Inventors

• David S. McGregor · Brooklyn, US
• Frank Zhengfan Yang · Chicago, US

Key dates

• Filing date: Oct 31, 2016
• Grant date: Jul 27, 2021
• Expiry date: Dec 29, 2039

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q2220/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method includes a marketplace server establishing one or more security parameters for an exchange item and securely providing the one or more security parameters to a user computing device of the data communication system. When the user computing device desires to use the exchange item, the method further includes generating, by the user computing device, first dynamically secure exchange item data. The method further includes the marketplace server receiving the first dynamically secure exchange item data from the user computing device, generating second dynamically secure exchange item data, and comparing the first dynamically secure exchange item data with the second dynamically secure exchange item data. When the first dynamically secure exchange item data substantially matches the second dynamically secure exchange item data, the method further includes authorizing, by the marketplace server, the use of the exchange item by the user computing device.