Self-enforcing security token implementing smart-contract-based compliance rules consulting smart-contract-based global registry of investors

US11216802B2 · kind B2 · utility

Assignee

• tZERO IP, LLC · US

Inventors

• Scott Overholser · Salt Lake City, US
• Robert Christensen · Chanhassen, US
• Nicole Sanders · Cottonwood Heights, US
• Justin Wilson · Draper, US
• Robert Valmassoi · New York, US
• Chase Lester · West Jordan, US
• Michael William Stuart Smith · Raleigh, US

Key dates

• Filing date: Aug 9, 2019
• Grant date: Jan 4, 2022
• Expiry date: Sep 25, 2039

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L2463/102
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A network node that includes at least one processor, at least one memory, and at least one network interface is disclosed. The network node is part of a peer-to-peer network of network nodes implementing a distributed ledger. The network node is communicatively coupled to at least one remotely located computing device through the at least one network interface. The at least one processor is configured to receive, from a remotely located computing device, a request to transfer a security token. The at least one processor is also configured to execute a plurality of compliance rules associated with the security token. At least one of the compliance rules is implemented using at least one smart contract. The at least one smart contract references a global registry. The at least one processor is also configured to transfer the security token based on the execution of the compliance rules.