DIGITAL CURRENCY ENABLED VENDING MACHINE

• US 20160086418A1
• Filed: 12/01/2015
• Published: 03/24/2016
• Est. Priority Date: 01/19/2012
• Status: Active Grant

• Current Assignee: Quotidian Engineering And Development, Inc.
• Original Assignee: Christopher M. Smolen, Stuart Card
• Inventors: Smolen, Christopher M., Card, Stuart
• Granted Patent: US 10,621,809 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/308 using the Internet of Things
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G07F 9/001 Interfacing with vending machines using mobile or wearable devices
• CPC Class Codes: G07F 9/006 Details of the software used for the vending machines

Abstract

A vending machine is described that uses digital currency transactions to enable a user to purchase items from their portable computing device. Using a control system in communication with various components of the vending machine and an internet connection for communicating with a remote digital currency system, such as a bitcoin network, a digital currency processing system executes digital currency transactions and stores the resulting digital currency in a transaction storage repository. The control system initiates dispensing of purchased items based on communication from the digital currency processing system.

Claims

1. A vending machine comprising:

a plurality of items for purchase;

a control system for receiving an item selection and payment information and initiating dispensing of a purchased item from the plurality of items for purchase;

an internet connection for communicating with a remote digital currency system for settlement of at least one digital currency transaction;

a transaction storage repository for storing a plurality of digital currency transactions;

a digital currency processing system for receiving a user initiated digital currency transaction, executing an item purchase digital currency transaction and communicating resulting payment information for the item selection to the control system, and initiating a change transaction, wherein the user initiated digital currency transaction and the item purchase digital currency transaction are stored in the transaction storage repository and settled with the remote digital currency system; and

whereby the purchased item is dispensed by the vending machine.

2. The vending machine of claim 1, further comprising a user initiated digital currency transaction interface whereby the digital currency processing system receives the user initiated digital currency transaction from a user'"'"'s portable computing device.

3. The vending machine of claim 2, wherein the user initiated digital currency transaction is received in a visual format data information code.

4. The vending machine of claim 3, wherein the visual format data information code comprises a bitcoin QR code and the user initiated digital currency transaction interface comprises a QR code reader connected to the control system.

5. The vending machine of claim 2, wherein the user initiated digital currency transaction is received in a uniform resource identifier.

6. The vending machine of claim 1, wherein the digital currency processing system initiates the change transaction by executing a change digital currency transaction.

7. The vending machine of claim 1, further comprising a non-digital currency verifier and dispenser in communication with the control system and wherein the digital currency processing system initiates the change transaction by communicating a change amount to the control system and whereby the control system causes the non-digital currency verifier and dispenser to dispense the change amount in non-digital currency.

8. The vending machine of claim 7, wherein the non-digital currency verifier and dispenser receives and verifies non-digital currency for a currency amount received and the digital currency processing system executes a change digital currency transaction based on the currency amount received.

9. The vending machine of claim 1, further comprising a touch panel computer in communication with the control system and providing an interface for receiving the item selection and payment information, wherein the payment information includes initiation of the user initiated digital currency transaction.

10. The vending machine of claim 1, further comprising an alternative selection device in communication with the control system, wherein the alternative selection device includes pricing information for the plurality of items for purchase in a non-digital currency value and wherein the digital currency processing system provides a non-digital currency to digital currency exchange rate for executing the item purchase digital currency transaction.

11. The vending machine of claim 10, further comprising a price display for dynamically displaying a current item price in digital currency value based on the pricing information in a non-digital currency from the alternative selection device and the digital currency exchange rate from the digital currency processing system.

12. The vending machine of claim 1, wherein the digital currency processing system provides a plurality of currency exchange rates including a non-digital currency to digital currency exchange rate and a plurality of exchange rates among a plurality of non-digital currencies and whereby the vending machine receives a first currency and the change transaction includes dispensing change in an alternate currency.

13. The vending machine of claim 1, further comprising a plurality of interactive displays for the plurality of items for purchase, wherein the plurality of interactive displays are in communication with the control system to receive item information and a current item price in digital currency for display.

14. The vending machine of claim 1, further comprising a credit card processing device in communication with the control system for processing a secure credit transaction in non-digital currency for a currency amount received and the digital currency processing system executes a change digital currency transaction based on the currency amount received.

15. The vending machine of claim 1, wherein the vending machine is in communication with a network of other vending machines and the plurality of digital currency transactions in the transaction storage repository include digital currency transactions executed by the digital currency processing system and other digital currency transactions executed by the other vending machines, whereby the vending machine and the network of other vending machines broadcasts each new digital currency transaction and the digital currency processing system verifies that digital currency transactions do not include double spending of digital currency.

16. The vending machine of claim 1, wherein the remote digital currency system includes a network of processing nodes for verifying digital currency transactions and wherein the internet connection is used to connect the digital currency processing system to a plurality of the network of processing nodes.

17. The vending machine of claim 16, further comprising a processing node in the network of processing nodes.

18. The vending machine of claim 1, wherein the remote digital currency system is a decentralized crypto currency system.

19. The vending machine of claim 1, wherein the user initiated digital currency transaction originates from a user'"'"'s portable computing device selected from a smartphone, tablet, vehicle control computer, and product embedded computing device.

20. The vending machine of claim 1, wherein the transaction storage repository includes at least one uniform resource identifier embodying digital currency and at least one private key for executing the plurality of digital currency transactions using the at least one uniform resource identifier.