×

Method and apparatus for executing cryptographically-enabled letters of credit

  • US 6,477,513 B1
  • Filed: 04/03/1997
  • Issued: 11/05/2002
  • Est. Priority Date: 04/03/1997
  • Status: Expired due to Term
First Claim
Patent Images

1. A method for executing an electronic transaction, comprising:

  • transmitting a verification authority permission certificate from a trusted agent to a verification authority;

    signing the transmitted verification authority permission certificate;

    transmitting the signed verification authority permission certificate from the verification authority to the trusted agent to verify that a seller has performed conditions of a contract;

    transmitting a withdrawal permission certificate from the trusted agent to the seller in response to receipt of the signed verification authority permission certificate;

    transmitting the withdrawal permission certificate from the seller to a bank; and

    transmitting funds from the bank to the seller in response to the bank receiving the withdrawal certificate.

View all claims
  • 14 Assignments
Timeline View
Assignment View
    ×
    ×