Real time virtual draft system and method

• US 10,445,709 B2
• Filed: 09/28/2016
• Issued: 10/15/2019
• Est. Priority Date: 09/28/2016
• Status: Active Grant

• Current Assignee: Toronto-Dominion Bank
• Original Assignee: Toronto-Dominion Bank
• Inventors: McDonald, Ian James, McPhee, Adam Douglas, Haldenby, Perry Aaron Jones, Chan, Paul Mon-Wah, Lee, John Jong Suk
• Primary Examiner(s): Le, Thien M
• Application Number:
  US15/278,852
• Publication Number:
  US 20180089645A1
• Time in Patent Office: 1,112 Days
• CPC Class Codes: G06Q 20/0655 e-cash managed centrally
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules

Abstract

An apparatus for use in a digital asset tracking system includes a storage device and a processor coupled to the storage device. The storage device stores software instructions for controlling the processor that when executed by the processor configure the processor to receive a signal representing a request comprising a first transfer from a first digital container associated with a first client to a second digital container associated with a second client. A value of the first transfer is compared to a total value in one or more accounts associated with the first client. At least one of the one or more accounts associated with the first client has a value in a first currency. A first draft is generated from a first account to an account associated with the second client. The first draft comprises a value in a second currency equivalent to the value of the first transfer.

Claims

1. An apparatus, comprising:

a communications interface;

a memory; and

a processor coupled to the memory and the communications interface, the memory storing software instructions for controlling the processor that, when executed by the processor, configure the processor to;

receive, via the communications interface, a first request for a first transfer of digital assets from a first digital container associated with a first client device to a second digital container associated with a second client device, the first transfer being associated with an initiated transaction;

when a total value in one or more first accounts associated with the first client device is equivalent to or exceeds a transfer value of the digital assets, generate and transmit, via the communications interface, a transaction authorization to the second client device, the transaction authorization causing the second client device to perform operations that complete the initiated transaction; and

generate a draft from a payment account associated with a centralized authority to a second account associated with the second client, wherein a draft value of the first draft is equivalent to the transfer value.

2. The apparatus according to claim 1, wherein the processor is further configured to generate the draft from the payment account to the second account when digital assets in the first and second digital containers are different.

3. The apparatus according to claim 1, wherein a value of the second transfer is equal to the transfer value.

4. The apparatus according to claim 1, wherein the first account, the second account, and the payment account comprise currency accounts.

5. The apparatus according to claim 1, wherein the processor is further configured to apply a digital signature to the transaction authorization using a cryptographic key associated with the centralized authority.

6. The apparatus according to claim 1, wherein the processor is further configured to:

determine that one or more parameters of the first request satisfy a plurality of rules associated with the first client device; and

generate the draft from the payment account to the second account when the one or more parameters satisfy the plurality of rules associated with the first client device.

7. The apparatus according to claim 6, wherein the plurality of rules include at least one of a spending limit, a transaction type, a retailer identifier, a category of goods, or any combination thereof.

17. The apparatus of claim 1, wherein the processor is further configured to:

generate a second request for a second transfer of the digital assets from the first digital container to a third digital container associated with the centralized authority; and

transmit the second request to one or more peer systems, the second request causing the one or more peer systems to perform operations that record information identifying the second transfer within a ledger block of a distributed ledger.

18. The apparatus of claim 17, wherein:

the first request comprises information identifying a quantity of the digital assets associated with the requested first transfer;

the transfer value comprises a value of the identified quantity of the digital assets; and

the recordation of the information identifying the second transfer onto the ledger block of the distributed ledger transfers the quantity of the digital assets from the first digital container to the third digital container.

19. The apparatus of claim 1, wherein:

the first digital container is established by a first application program executed at the first client device;

the second digital container is established by a second application program executed at the second client device; and

at least one of the first or second application programs comprise a mobile wallet application.

20. The apparatus of claim 1, wherein:

at least one of the one or more first accounts is denominated in a first currency;

the second account is denominated in a second currency; and

the processor is further configured to convert the transfer value into the second currency and establish the converted transfer value as the draft value.

8. A system, comprising:

a point-of-sale terminal having a storage device and a processor, the storage device being coupled to the processor and storing software instructions for controlling the processor that, when executed by the processor, configure the processor to;

perform operations that initiate a transaction involving a first client device; and

generate a first request for a first transfer of digital assets from a first digital container associated with the first client device to a second digital container associated with the point-of-sale terminal; and

an authorization server having a server storage device and a server processor, the server storage device being coupled to the server processor and storing software instructions for controlling the server processor that, when executed by the server processor, configure the server processor to;

receive the the first request from the point-of-sale terminal;

based on the first request, determine that a total value in one or more first accounts associated with the first client device is equivalent to or exceeds a transfer value of the digital assets;

validate the first request when the total value is equivalent to or exceeds the transfer value;

generate and transmit a transaction authorization indicative of the validated first request to the point-of-sale terminal; and

generate a draft from a payment account associated with a centralized authority to a second account associated with the point-of-sale terminal, wherein a draft value of the first draft is equivalent to the transfer value,

wherein the processor of the point-of-sale terminal is further configured to receive the transaction authorization and complete the initiated transaction based on the transaction authorization.

9. The system according to claim 8, wherein:

at least one of the one or more first accounts is denominated in a first currency;

the draft value is denominated in a second currency; and

the server processor is further configured to generate the draft from the payment account to the second account when digital assets in the first and second digital containers are different.

10. The system according to claim 8, wherein the server processor is further configured to:

generate a second request for a second transfer of the digital assets from the first digital container to a third digital container associated with the centralized authority, wherein a value of the second transfer is equal to the transfer value; and

transmit the second request to one or more peer systems, the second request causing the one or more peer systems to perform operations that record information identifying the second transfer within a ledger block of a distributed ledger.

11. The system according to claim 8, wherein the server processor is further configured to:

determine that one or more parameters of the first request satisfy a plurality of rules associated with the first client device; and

validate the first request when the one or more parameters satisfy the plurality of rules associated with the first client device.

12. A computer-implemented method, comprising

receiving, by at least one processor, a first request for a first transfer of digital assets from a first digital container associated with a first client device to a second digital container associated with a second client device, the first transfer being associated with an initiated transaction;

when a total value in one or more first accounts associated with the first client device is equivalent to or exceeds a transfer value of the digital assets, generating and transmitting, by the at least one processor, a transaction authorization to the second client device, the transaction authorization causing the second client device to perform operations that complete the initiated transaction; and

generating, by the at least one processor, a draft from a payment account associated with a centralized authority to a second account associated with the second client, wherein a draft value of the first draft is equivalent to the transfer value.

13. The computer-implemented method of claim 12, further comprising:

generating, by the at least one processor, a second request for a second transfer of the digital assets from the first digital container to a third digital container associated with the centralized authority; and

transmitting, by the at least one processor, the second request to one or more peer systems, the second request causing the one or more peer systems to perform operations that record information identifying the second transfer within a ledger block of a distributed ledger.

14. The computer-implemented method of claim 13, wherein:

the first request comprises information identifying a quantity of the digital assets associated with the requested first transfer;

the transfer value comprises a value of the identified quantity of the digital assets; and

the recordation of the information identifying the second transfer onto the ledger block of the distributed ledger transfers the quantity of the digital assets from the first digital container to the third digital container.

15. The computer-implemented method of claim 13, wherein:

at least one of the one or more first accounts is denominated in a first currency;

the second account is denominated in a second currency; and

the computer-implemented method further comprises converting the transfer value into the second currency and establishing the converted transfer value as the draft value.

16. The computer-implemented method of claim 12, wherein:

the first digital container is established by a first application program executed at the first client device;

the second digital container is established by a second application program executed at the second client device; and

at least one of the first or second application programs comprise a mobile wallet application.