REAL TIME VIRTUAL DRAFT SYSTEM AND METHOD

• US 20180089655A1
• Filed: 09/27/2016
• Published: 03/29/2018
• Est. Priority Date: 09/27/2016
• Status: Abandoned Application

• 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
• Application Number:
  US15/277,132
• Publication Number:
  US 20180089655A1
• Time in Patent Office: Days
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• CPC Class Codes: G06Q 20/3827 Use of message hashing
• CPC Class Codes: G06Q 20/4037 Remote solvency checks

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 for use in a digital asset tracking system, the digital asset tracking system tracking digital assets including digital accounts having digital containers, the apparatus comprising:

a storage device; and

a processor coupled to the storage device, the storage device storing 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;

compare a value of the first transfer to a total value in one or more accounts associated with the first client, wherein at least one of the one or more accounts associated with the first client has a value in a first currency; and

generate a first draft from a first account to an account associated with the second client, wherein the first draft comprises a value in a second currency equivalent to the value of the first transfer.

2. The apparatus according to claim 1, wherein the first draft from the first account to the account associated with the second client is generated when digital assets in the first and second digital containers are different.

3. The apparatus according to claim 1, wherein the first account is an account associated with a central authority.

4. The apparatus according to claim 1, wherein the first account is an account associated with the first client.

5. The apparatus according to claim 1, wherein the first account includes a third digital container and the account associated with the second client includes the second digital container.

6. The apparatus according to claim 1, wherein the processor is further configured to generate a signal representing a request comprising a second transfer from the first digital container to a third digital container, wherein a value of the second transfer is equal to the value of the first transfer.

7. The apparatus according to claim 1, wherein the first account and the account associated with the second client comprise currency accounts.

8. The apparatus according to claim 1, further comprising transmitting a signal representative of a transaction authorization to the second client, wherein the transaction authorization provides authorization to the second client for completing a related transaction.

9. The apparatus according to claim 8, wherein the transaction authorization is digitally signed by a cryptographic key associated with a central authority.

10. The apparatus according to claim 1, wherein the processor is further configured to compare one or more parameters of the request to a plurality of rules associated with the first client, wherein the first draft is generated only when the one or more parameters satisfy the plurality of rules associated with the first client.

11. The apparatus according to claim 10, 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.

12. A system, comprising:

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

generate 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; and

receive a signal representing a transaction indication from an authorization server; and

an authorization server having a server storage device and a server processor, the server storage device 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 signal representing the request comprising the first transfer;

compare a value of the first transfer to a total value in one or more accounts associated with the first client, wherein at least one of the one or more accounts associated with the first client has a value in a first currency;

validate the request when the total value in the one or more accounts associated with the first client is greater than or equal to the value of the first transfer;

invalidate the request when the total value in the one or more accounts associated with the first client is less than the value of the first transfer; and

transmit the signal representing the transaction indication to the point-of-sale terminal, wherein the transaction indication indicates that the request was validated or invalidated.

13. The system according to claim 12, wherein the server processor is further configured to generate a first draft from a first account to an account associated with the second client, wherein the first draft comprises a value in a second currency equal to the value of the first transfer, and wherein the first draft from the first account to the account associated with the second client is generated when digital assets in the first and second digital containers are different.

14. The system according to claim 13, wherein the first account is an account associated with a central authority.

15. The system according to claim 13, wherein the first account is an account associated with the first client.

16. The system according to claim 13, wherein the first account includes a third digital container and the account associated with the second client includes the second digital container.

17. The system according to claim 12, wherein the processor is further configured to generate a second transfer from the first digital container to a third digital container, wherein a value of the second transfer is equal to the value of the first transfer.

18. The system according to claim 12, wherein the transaction indication provides authorization to the second client for completing a related transaction.

19. The system according to claim 12, wherein the server processor is further configured to compare one or more parameters of the request to a plurality of rules associated with the first client, wherein the request is validated only if the one or more parameters satisfy the plurality of rules associated with the first client.

20. An apparatus for use in a digital asset tracking system, the digital asset tracking system tracking digital assets including digital accounts having digital containers, the apparatus comprising:

a storage device; and

a processor coupled to the storage device, the storage device storing 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;

compare a value of the first transfer to a total value in one or more accounts associated with the first client, wherein at least one of the one or more accounts associated with the first client has a value in a first currency; and

transmit to the second client a signal representing a transaction authorization when the total value in the one or more accounts associated with the first client is greater than or equal to the value of the first transfer.