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System, method and program product for generating and utilizing stable value digital assets

  • US 10,540,654 B1
  • Filed: 06/11/2019
  • Issued: 01/21/2020
  • Est. Priority Date: 02/12/2018
  • Status: Active Grant
First Claim
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1. A method of increasing a total supply of digital asset tokens comprising the steps of:

  • (a) providing a first designated key pair, comprising a first designated public key and a corresponding first designated private key, wherein the first designated public key also corresponds to a first designated public address associated with an underlying digital asset;

    wherein the underlying digital asset is maintained on a distributed public transaction ledger maintained in the form of a blockchain by a plurality of geographically distributed computer systems in a peer-to-peer network in the form of a blockchain network, andwherein the first designated private key is stored on a first computer system which is connected to the distributed public transaction ledger through the Internet;

    (b) providing a second designated key pair, comprising a second designated public key and a corresponding second designated private key,wherein the second designated private key is stored on a second computer system which is physically separated from the first computer system and is not operatively or physically connected to the distributed public transaction ledger or the Internet;

    (c) providing first smart contract instructions associated with a first smart contract associated with a digital asset token associated with a first contract address associated with the blockchain associated with the underlying digital asset,wherein the first smart contract instructions are saved as part of the blockchain for the underlying digital assets and include;

    (1) first delegation instructions to delegate one or more first functions associated with the digital asset token to one or more delegated contract addresses associated with the blockchain associated with the underlying digital asset,wherein the one or more delegated contract addresses is different from the first contract address, andwherein a second contract address is designated as one of the one or more delegated contract addresses; and

    (2) first authorization instructions for the second designated key pair;

    (d) providing second smart contract instructions associated with a second smart contract associated with the digital asset token associated with the second smart contract address associated with the blockchain associated with the underlying digital asset,wherein the second smart contract instructions are saved as part of the blockchain for the underlying digital asset and include;

    (1) print limiter token creation instructions indicating conditions under which tokens of the digital asset token are created;

    (2) second authorization instructions to create tokens of the digital asset token,wherein the first designated key pair is designated to authorize said second authorization instructions to create tokens of the digital asset token; and

    (3) third authorization instructions with respect to token creation of the digital asset token;

    wherein the third authorization instructions designate a first designated custodian address with respect to token creation of the digital asset token;

    (e) providing third smart contract instructions associated with a first designated custodian smart contract associated with the digital asset token associated with a third contract address associated with the blockchain associated with the underlying digital asset,wherein the third contract address is the first designated custodian contract address, andwherein the third smart contract instructions are saved as part of the blockchain associated with the underlying digital asset and include;

    (1) fourth authorization instructions to authorize issuance of instructions to the second smart contract regarding token creation;

    wherein the fourth authorization instructions designate the second designated key pair to authorize the fourth authorization instructions;

    (f) providing fourth smart contract instructions associated with a fourth smart contract associated with the digital asset token associated with a fourth contract address associated with the blockchain associated with the underlying digital asset,wherein the fourth contract address is one of the one or more delegated contract addresses and not;

    (i) the first contract address, (ii) the second contract address, or (iii) the third contract address,wherein the fourth smart contract instructions are saved as part of the blockchain associated with the underlying digital assets and include;

    (1) token creation instructions to create tokens of the digital asset token in accordance with conditions set forth by the print limiter token creation instructions; and

    (2) second delegation instructions delegating data storage operations to at least a fifth contract address;

    (g) providing fifth smart contract instructions associated with a fifth smart contract associated with the digital asset token associated with the fifth contract address associated with the blockchain associated with the underlying digital asset,wherein the fifth smart contract address is one of the one or more designated store contract addresses, andwherein the fifth smart contract instructions are saved as part of the blockchain for the underlying digital assets and include;

    (1) data storage instructions for transaction data related to the digital asset token, wherein said transaction data comprises for all issued tokens of the digital asset token;

    (A) respective public address information associated with the blockchain associated with the underlying digital asset; and

    (B) corresponding respective token balance information associated with said respective public address information; and

    (2) fifth authorization instructions to modify the transaction data in response to requests from the fourth contract address;

    (h) obtaining, by a digital asset exchange computer system associated with a digital asset exchange, a list of designated public addresses and for each designated public address, a respective amount of the digital asset token,wherein a sum of the respective amounts of the digital asset token is a first amount of the digital asset token;

    (i) increasing the total supply of the digital asset token, by the digital asset exchange computer system, from a second amount to a third amount,wherein the difference between the third amount and the second amount is a fourth amount of digital asset tokens,wherein the fourth amount is either greater than the first amount or equal to the first amount,wherein the digital asset exchange computer system increases the total supply of the digital asset token by performing the following steps;

    (1) determining, by the digital asset exchange computer system, the first designated private key does not have authority to execute the first request; and

    (2) increasing, by the digital asset exchange computer system, the total supply of the digital asset token by continuing to perform the following steps;

    (A) generating, by the digital asset exchange computer system, a first transaction request including a first message comprising a first request to increase the total supply of the digital asset token to the third amount of digital asset tokens;

    (B) sending, by the digital asset exchange computer system, the first transaction request from the first designated public address to the fifth contract address;

    (C) sending, by the digital asset exchange computer system, the first transaction request from the fifth contract address to the second contract address;

    (D) obtaining, by the digital asset exchange computer system, a first unique lock identifier, based on reference to the blockchain;

    (E) generating, by the digital asset exchange computer system, a second transaction request including a second message comprising a second request to unlock the total supply of the digital asset token in accordance with the first request,wherein the second transaction request further comprises the first unique lock identifier;

    (F) sending by the digital asset exchange computer system via the underlying blockchain, the second transaction request from the first designated public address to the third contract address associated;

    (G) obtaining, by the digital asset exchange computer system, a first unique request hash, based on reference to the blockchain;

    (H) generating, by the digital asset exchange computer system, a third transaction request comprising the first unique request hash,wherein the third transaction request is to be digitally signed by at least the second designated private key;

    (I) transferring, from the digital asset exchange computer system to a first portable memory device, the third transaction request,wherein the third transaction request is transferred from the first portable memory device to the second computer system,wherein the second computer system generates a third digitally signed transaction request by digitally signing the third transaction request using the second designated private key, andwherein the third digitally signed transaction request is transferred from the second computer system to a second portable memory device; and

    (J) sending, from the second portable memory device by the digital asset exchange computer system via the underlying blockchain, the third digitally signed transaction request to the third contract address;

    (j) assigning, by the digital asset exchange computer system in accordance with the list of designated public addresses and respective amount of digital asset token, each respective amount of digital asset token to each respective designated public address; and

    (k) confirming, by the digital asset exchange computer system, that each respective designated public address received the respective amount of digital asset token.

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