BLOCKCHAIN PAYMENT SYSTEM

• US 20190311353A1
• Filed: 04/05/2019
• Published: 10/10/2019
• Est. Priority Date: 04/06/2018
• Status: Abandoned Application

• Current Assignee: Eric A. Solis
• Original Assignee: Eric A. Solis
• Inventors: Solis, Eric A.
• Application Number:
  US16/376,450
• Publication Number:
  US 20190311353A1
• Time in Patent Office: Days
• CPC Class Codes: G06F 21/64 Protecting data integrity, e.g. using checksums, certificates or signatures
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/3672 initialising or reloading thereof
• CPC Class Codes: G06Q 20/381 Currency conversion
• 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 9/50 using hash chains, e.g. blockchains or hash trees

Abstract

A method for converting cryptocurrency into real, spendable currency includes receiving, from a first electronic device, a peer-to-peer payment request including a payment amount and a unique identifier of a recipient, generating a cryptocurrency payment invoice in response to receiving the peer-to-peer payment request, generating an invitation in response to payment of the cryptocurrency payment invoice, the invitation to be transmitted wirelessly to the recipient using the unique identifier, receiving, from a second electronic device, an acceptance of the invitation and one or more items of new user information associated with the recipient, generating a digital payment card in the name of the recipient in response to receiving the acceptance and the new user information, the digital payment card including a card number pulled from a bank identification number (BIN) range, and, after said generating the digital payment card, crediting the payment amount to the recipient.

Claims

1. A non-transitory program storage medium on which are stored instructions executable by a processor or programmable circuit to perform operations for converting cryptocurrency into real, spendable currency, the operations comprising:

receiving, from a first electronic device, a peer-to-peer payment request including a payment amount and a unique identifier of a recipient;

generating a cryptocurrency payment invoice in response to receiving the peer-to-peer payment request;

generating an invitation in response to payment of the cryptocurrency payment invoice, the invitation to be transmitted wirelessly to the recipient using the unique identifier;

receiving, from a second electronic device, an acceptance of the invitation and one or more items of new user information associated with the recipient;

generating a digital payment card in the name of the recipient in response to receiving the acceptance and the new user information, the digital payment card including a card number pulled from a bank identification number (BIN) range; and

,

after said generating the digital payment card, crediting the payment amount to the recipient.

2. The non-transitory program storage medium of claim 1, wherein the unique identifier is selected from the group consisting of a phone number, an email address, and a social network ID.

3. The non-transitory program storage medium of claim 1, wherein said generating the cryptocurrency payment invoice includes calling an API associated with a cryptocurrency payment processor.

4. The non-transitory program storage medium of claim 1, wherein said generating the digital payment card includes communicating the received peer-to-peer payment request and new user information to a payment processing platform and receiving the digital payment card from the payment processing platform.

5. The non-transitory program storage medium of claim 1, wherein said crediting the payment amount to the recipient includes loading the payment amount onto the digital payment card.

6. The non-transitory program storage medium of claim 1, wherein the digital payment card is reloadable.

7. The non-transitory program storage medium of claim 6, the operations further comprising:

receiving, from the second electronic device, a token request including a cash amount; and

generating a disposable digital card loaded with the cash amount in response to receiving the token request.

8. The non-transitory program storage medium of claim 7, wherein said generating the disposable digital card includes communicating the received token request to a payment processing platform and receiving the disposable digital card from the payment processing platform.

9. The non-transitory program storage medium of claim 1, further comprising storing a state associated with the cryptocurrency payment invoice in a permissioned blockchain framework.

10. The non-transitory program storage medium of claim 9, wherein the state associated with the cryptocurrency payment invoice includes a paid/unpaid state of the cryptocurrency payment invoice.

11. The non-transitory program storage medium of claim 1, further comprising storing a state associated with the invitation in a permissioned blockchain framework.

12. The non-transitory program storage medium of claim 11, wherein the state associated with the invitation includes an accepted/unaccepted state of the invitation.

13. The non-transitory program storage medium of claim 1, further comprising storing a state associated with the digital payment card in a permissioned blockchain framework.

14. The non-transitory program storage medium of claim 13, wherein the state associated with the digital payment card includes an amount loaded onto the digital payment card.

15. A method for converting cryptocurrency into real, spendable currency, the method comprising:

receiving, from a first electronic device, a peer-to-peer payment request including a payment amount and a unique identifier of a recipient;

generating a cryptocurrency payment invoice in response to receiving the peer-to-peer payment request;

generating an invitation in response to payment of the cryptocurrency payment invoice, the invitation to be transmitted wirelessly to the recipient using the unique identifier;

receiving, from a second electronic device, an acceptance of the invitation and one or more items of new user information associated with the recipient;

generating a digital payment card in the name of the recipient in response to receiving the acceptance and the new user information, the digital payment card including a card number pulled from a bank identification number (BIN) range; and

,

after said generating the digital payment card, crediting the payment amount to the recipient.

16. The method of claim 15, wherein the unique identifier is selected from the group consisting of a phone number, an email address, and a social network ID.

17. A system for converting cryptocurrency into real, spendable currency, the system comprising:

a first electronic device that wirelessly transmits a peer-to-peer payment request including a payment amount and a unique identifier of a recipient;

one or more servers that receive the peer-to-peer payment request, generate a cryptocurrency payment invoice in response to receiving the peer-to-peer payment request, and generate an invitation in response to payment of the cryptocurrency payment invoice, the invitation to be transmitted wirelessly to the recipient using the unique identifier; and

a second electronic device that receives the invitation and wirelessly transmits an acceptance of the invitation and one or more items of new user information associated with the recipient;

wherein the one or more servers receive the acceptance and the new user information, generate a digital payment card in the name of the recipient in response to receiving the acceptance and the new user information, and, after generating the digital payment card, credit the payment amount to the recipient;

wherein the digital payment card includes a card number pulled from a bank identification number (BIN) range.

18. The system of claim 17, wherein the unique identifier is selected from the group consisting of a phone number, an email address, and a social network ID.

19. The system of claim 17, further comprising:

a cryptocurrency payment processor;

wherein the one or more servers generates the cryptocurrency payment invoice by calling an API associated with the cryptocurrency payment processor.

20. The system of claim 17, wherein the one or more servers comprises a permissioned blockchain framework.