Systems and methods for managing cryptocurrency

US12387202B2 · kind B2 · utility

Assignee

• Block, Inc. · US

Inventors

• Shivaraman Ramachandran · Fremont, US
• Max Guise · San Francisco, US
• Justin Williams · Cambridge, US
• Jesse Posner · San Francisco, US
• Alexander Edward Schoof · Herndon, US
• Jordan Mecom · San Francisco, US
• Arvin Aminpour · Redwood City, US
• Allison Moyer · San Francisco, US
• Kirill Zhukov · San Francisco, US
• David Peter Robinson · Lisburn, GB
• Bradley Peter Ryan · Denver, US
• Ryan Lanman · San Francisco, US
• Lindsey Grossman · High Falls, US

Key dates

• Filing date: Jun 30, 2022
• Grant date: Aug 12, 2025
• Expiry date: Dec 13, 2042

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L63/0861
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system for locally authenticating a transaction of digital financial assets, such as cryptocurrency. A first device may locally store financial assets in non- volatile memory of the first device. The first device may use the locally-stored financial assets to conduct a local transaction with a second device. The first device may generate a transaction settlement data token and exchange the token with the second device, wherein the transaction settlement data token includes information specific to the local transaction, a value associated with the local transaction, and encrypted personal information associated with the first device. After receiving a confirmation of transmission from the second device, the value associated with the local transaction may be debited from the locally-stored financial assets.