Methods and systems of using a cryptocurrency system to manage payments and payment alternatives

US11270299B2 · kind B2 · utility

Assignee

• Visa International Service Association · US

Inventors

• Michael Steven Bankston · Oakland, US
• David C. White, Jr. · St. Petersburg, US
• Ryan Hagey · Alameda, US
• Arturo Martinez · Milano, IT

Key dates

• Filing date: Dec 7, 2015
• Grant date: Mar 8, 2022
• Expiry date: Jul 5, 2039

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0226
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Embodiments of the present invention are directed to methods and systems for the efficient management of a digital currency system using a cryptocurrency scheme. Embodiments utilize a payment processor computer to manage entities in the digital currency system, which have the rights to generate, distribute, transact with, and redeem units of a digital currency. In some embodiments, the digital currency may represent points in a loyalty program operated by an entity or organization. Transactions performed using the digital currency and rules governing the digital currency can be tracked and maintained in a master ledger maintained by the payment processor computer, and distributed as sub-ledgers to other entities within the digital currency system.