Method and system of blockchain disbursements
US11989703B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 2, 2021 |
| Grant date | May 21, 2024 |
| Priority date | — |
| Expiry date | Aug 2, 2041 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q2220/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for facilitating benefit disbursements through the use of tokens and blockchain includes: receiving beneficiary information from a first computing system, the beneficiary information including a beneficiary identifier; storing a blockchain data entry, the blockchain data entry including a disbursement token associated with the beneficiary information and a recipient value generated using a public key of a cryptographic key pair; receiving a redemption message from a second computing system, the redemption message including the disbursement token, a digital signature generated using a private key of the cryptographic key pair, transaction account data, and a redemption amount; validating the digital signature using the public key of the cryptographic key pair; and transmitting a transfer message to the first computing system, the transfer message including the transaction account data and the redemption amount.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.