Method and system for authorization for cryptocurrency on distributed ledger
US12423678B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 20, 2022 |
| Grant date | Sep 23, 2025 |
| Priority date | — |
| Expiry date | Nov 3, 2042 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L2209/56
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for enabling real-time authorization of a transaction with pooled equity includes: receiving a transaction request message, the transaction request message including at least a public key of a cryptographic key pair and a transacting currency amount; verifying a balance of a cryptographic currency for a first blockchain wallet associated with the cryptographic key pair on a blockchain using at least the public key, where at least a portion of the balance is locked in a currency pool; generating a smart contract, the smart contract configured to initiate a first blockchain transaction on the blockchain for transfer of the transacting currency amount from a second blockchain wallet to a destination address, where the second blockchain wallet is different from the first blockchain wallet; and transmitting the generated smart contract to a node in a blockchain network associated with the blockchain for publishing to the blockchain.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.