CRYPTOCURRENCY VERIFICATION SYSTEM

• US 20160203448A1
• Filed: 07/06/2015
• Published: 07/14/2016
• Est. Priority Date: 07/03/2014
• Status: Active Grant

• Current Assignee: Raise Marketplace, LLC
• Original Assignee: Raise Marketplace, Inc.
• Inventors: Chiu, Ryan, Smith, Alexander Oliver, Gordon, Ethan, Metnick, Josh
• Granted Patent: US 11,232,414 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 2220/00 Business processing using cryptography postage metering system using cryptography G06Q2250/05
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 63/06 for supporting key management in a packet data network cryptographic mechanisms or cryptographic arrangements for key management H04L9/08
• CPC Class Codes: H04L 63/061 for key exchange, e.g. in peer-to-peer networks cryptographic mechanisms or cryptographic arrangements for key agreement H04L9/0838
• CPC Class Codes: H04L 9/3247 involving digital signatures

Abstract

A machine and process for making and for using a machine. The process includes receiving, by the computer over a network, a notification of a payment comprising an amount of cryptocurrency and a first cryptocurrency address, and effectuating, by the computer, the purchase by using the amount and the cryptocurrency address from which a first public key can be derived, and applying the computer system to verifying that a digitally represented human or entity purporting to have made a purchase with cryptocurrency is entitled to obtain value for the purchase.

Claims

1. An apparatus, the apparatus including:

a computer system including a digital computer opearably associated with an input device and with an output device and with a connection to an Internet-type network, the computer programmed to carry out the operations of;

receiving a notification of a payment comprising an amount of cryptocurrency and a first cryptocurrency address, and then

effectuating a purchase by using the amount and the cryptocurrency address from which a first public key is derived, and verifying that a digitally represented human or entity purporting to have made the purchase is entitled to obtain value for the purchase, the verifying comprising at least one of;

(A)

receiving a second cryptocurrency address for a second cryptocurrency payment from the first cryptocurrency address, and

deriving a second public key from the second payment;

or

(B)

creating a message,

communicating the message to the digitally represented person or entity purporting to have made the purchase, and then

receiving from the digitally represented person or entity provided with the message a signed return of the message, and

deriving the second public key from the signed message; and

determining whether the second derived public key matches with either the first public key or the cryptocurrency address of the payment comprising the amount, such that

if there is a match, then producing output indicating verification that the digitally represented human or entity purporting to have made the purchase is entitled to obtain value for the purchase; and

otherwise do not produce the output.

2. The apparatus of claim 1, wherein the verifying includes deriving the second public key from the second payment, and further including:

wherein the cryptocurrency address is a first cryptocurrency address, and the operations further include

creating a second cryptocurrency address,

communicating the second cryptocurrency address to a person or entity purporting to have made the purchase, and then

monitoring the second cryptocurrency address for the second cryptocurrency payment from the first cryptocurrency address.

3. The apparatus of claim 1, wherein the operations include said receiving the second cryptocurrency address for the second cryptocurrency payment from the first cryptocurrency address, and

said deriving said second public key from the second payment.

4. The apparatus of claim 1, wherein the operations include said creating the message, and wherein the message with the signed return comprises a file, and the receiving of the message with the signed return includes receiving a file which contains the signed return, and the operations further include extracting the signed return from the file.

5. A process for using a machine, the process including:

applying a computer system to verify that a digitally represented human or entity purporting to have made a purchase with cryptocurrency is entitled to obtain value for the purchase, the computer system including a digital computer opearably associated with an input device and with an output device and with a connection to an Internet-type network, the computer programmed such that the computer system is enabled to carry out the verifying by steps including;

receiving, by the computer over the network, a notification of a payment comprising an amount of cryptocurrency and a first cryptocurrency address, and then

effectuating, by the computer, the purchase by using the amount and the cryptocurrency address from which a first public key is derived, and

verifying, by the computer, that the digitally represented human or entity purporting to have made the purchase is entitled to obtain value for the purchase, the verifying comprising at least one of;

(A)

receiving a second cryptocurrency address for a second cryptocurrency payment from the first cryptocurrency address, and

deriving a second public key from the second payment; and

(B)

creating a message,

communicating the message to the digitally represented person or entity purporting to have made the purchase, and then

receiving from the digitally represented person or entity provided with the message a signed return of the message, and

deriving the second public key from the signed message; and

determining whether the second derived public key matches with either the first public key or the cryptocurrency address of the payment comprising the amount, such that

if there is a match, then producing output, at the output device, indicating verification that the digitally represented human or entity purporting to have made the purchase is entitled to obtain value for the purchase; and

otherwise do not produce the output.