Cryptographic currency for securities settlement

US11514409B2 · kind B2 · utility

Assignee

• Goldman Sachs & Co. LLC · US

Inventors

• Paul Walker · Oshkosh, US
• Phil J. Venables · Jersey City, US

Key dates

• Filing date: Jun 9, 2017
• Grant date: Nov 29, 2022
• Expiry date: Jun 26, 2040

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L2209/56
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The present disclosure is directed to security settlement in financial markets and cryptographic currencies. Particular portions of the present disclosure are directed to a cryptographic currency protocol and to a cryptographic currency that includes a positional item. The cryptographic currency protocol supports a virtual wallet that, in various embodiments, is a security and cash account for storing and managing the cryptographic currency. Opening a transaction via the virtual wallet to transfer the cryptographic currency is a strong guarantee of the availability of funds in the virtual wallet because, e.g., funds are not transacted unless the commit phase is successful.