Resource transfer system

• US 10,740,732 B2
• Filed: 05/20/2015
• Issued: 08/11/2020
• Est. Priority Date: 05/20/2015
• Status: Active Grant

• Current Assignee: Ripple Luxembourg S.A.
• Original Assignee: Ripple Luxembourg S.A.
• Inventors: Thomas, Stefan, Schwartz, Evan
• Primary Examiner(s): Rankins, William E
• Application Number:
  US14/717,390
• Publication Number:
  US 20160342980A1
• Time in Patent Office: 1,910 Days
• Field of Search: 705 71
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 20/3823 combining multiple encryption tools for a transaction
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 2220/00 Business processing using cryptography postage metering system using cryptography G06Q2250/05
• CPC Class Codes: G06Q 2220/10 Usage protection of distributed data files
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: H04L 9/50 using hash chains, e.g. blockchains or hash trees

Abstract

Systems and techniques are provided for a resource transfer system. An instruction to transfer a first quantity of a resource from a first resource pool to a second resource pool may be received. A hold may be placed on a second quantity of the resource in the first resource pool. The held second quantity of the first resource may not be transferred from the first resource pool until the hold is released. Responsive to receiving a message that fulfills a condition on the hold and an instruction to execute the transfer, the hold may be released. A register that is in the first resource pool and is associated with the resource may decremented by the first quantity, and a register that is in the second resource pool and is associated with the resource may be incremented by the first quantity.

Claims

1. A computer-implemented method performed on a data processing apparatus comprising:

receiving an instruction at a first computing device to transfer a first quantity of a first resource type from a first resource pool to a second resource pool, wherein the first resource pool comprises a first register on a blockchain ledger and the second resource pool comprises a second register on the blockchain ledger, and wherein the blockchain ledger is distributed across a plurality of computing devices;

receiving an instruction at the first computing device to place a hold on a second quantity of the first resource type in the first resource pool;

receiving an authorization at the first computing device to place the hold on the second quantity of the first resource type in the first resource pool, the authorization comprising a message signed with a cryptographic private key corresponding to a cryptographic public key of the first resource pool;

responsive to receiving the authorization, placing, by the first computing device, the hold on the second quantity of the first resource type in the first resource pool to create a held second quantity of the first resource type, wherein the held second quantity of the first resource type cannot be transferred from the first resource pool until the hold is released;

receiving, at the first computing device from a second computing device, a message that fulfills a condition of the hold, the message comprising a transfer confirmation receipt indicating that a third register that is in a third resource pool on the second computing device and is associated with a second resource type was decremented by a third quantity, and a fourth register that is in a fourth resource pool on the second computing device and is associated with the second resource type was incremented by the third quantity;

verifying, by the first computing device, the transfer confirmation receipt using a cryptographic public key of the second computing device to determine that the transfer confirmation receipt comprises a cryptographic signature created with a cryptographic private key of the second computing device;

receiving an instruction at the first computing device to execute the transfer of the first quantity of the first resource type from the first resource pool to the second resource pool; and

responsive to receiving from the second computing device the message that fulfills the condition on the hold, verifying the transfer confirmation receipt successfully, and receiving the instruction to execute the transfer, releasing by the first computing device the hold on the held second quantity of the first resource type, decrementing by the first computing device the first register that is in the first resource pool and is associated with the first resource type by the first quantity using the message signed with the cryptographic private key, and incrementing by the first computing device the second register that is in the second resource pool and is associated with the first resource type by the first quantity.

2. The method of claim 1, further comprising:

sending a transfer confirmation receipt indicating the decrementing of the first register and incrementing of the second register.

3. The method of claim 1, wherein the condition of the hold is fulfilled by a message that is a signed message from a trusted system, and wherein the signed message is signed with a private cryptographic key and verified with a public cryptographic key.

4. The method of claim 1, wherein the authorization to place the hold comprises a message having a statement signed by a private cryptographic key of a first party that controls resources tracked by the first resource pool.

5. The method of claim 4, further comprising verifying the statement signed by the private cryptographic key of the first party before placing the hold.

6. The method of claim 1, further comprising, after placing the hold, sending a prepared transfer receipt indicating that the hold has been placed.

7. The method of claim 1, wherein releasing the hold on the second quantity of the first resource type, decrementing a first register that is in the first resource pool and is associated with the first resource type by the first quantity, and incrementing a second register that is in the second resource pool and is associated with the first resource type by the first quantity, are performed deterministically on receiving the message that fulfills the condition on the hold and the instruction to execute the transfer and cannot be halted.

8. The method of claim 1, wherein the resource type comprises a currency, cryptocurrency, financial instrument, commodity, physical good, specific item or items, or computational resource.

9. A computer-implemented method performed on a data processing apparatus comprising:

receiving a message at a first computing device comprising a proposed transfer, wherein the proposed transfer comprises a source transfer of a first quantity of a first resource type from a first resource pool to a second resource pool on a second computing device and a destination transfer of a second quantity of a second resource type from a third resource pool to a fourth resource pool on a third computing device, wherein the first resource pool comprises a first register on a blockchain ledger and the second resource pool comprises a second register on the blockchain ledger, and wherein the blockchain ledger is distributed across a plurality of computing devices;

receiving a message at the first computing device from the second computing device indicating that a hold has been placed on a third quantity of the first resource type in the first resource pool;

sending from the first computing device at least one message associated with the performance of the destination transfer to the third computing device, wherein the at least one message comprises either an instruction to the third computing device to execute the destination transfer or an authorization to place a hold on the second quantity of the second resource type;

receiving a message at the first computing device from the third computing device indicating that a condition on the hold of the third quantity of the first resource type in the first resource pool has been fulfilled;

verifying, by the first computing device, the message from the third computing device using a cryptographic public key of the third computing device to determine that the message from the third computing device comprises a cryptographic signature created with a cryptographic private key of the third computing device; and

in response to successfully verifying that message from the third computing device, sending an instruction from the first computing device to the second computing device to execute the source transfer of the first quantity of the first resource type from the first resource pool to the second resource pool by decrementing a first register in the first resource pool quantity using a message singed with a cryptographic private key corresponding to a cryptographic public key of the first resource pool and incrementing a second register in a second resource pool.

10. The method of claim 9, wherein the condition of the hold on the third quantity of the first resource type in the first resource pool is the receiving of a message that is a signed message from a trusted system.

11. The method of claim 9, wherein the condition of the hold on the third quantity of the first resource type in the first resource pool is the receiving of a message that is a transfer confirmation receipt indicating that a first register that is in the third resource pool and is associated with the second resource type was decremented by the second quantity, and a second register that is in the fourth resource pool and is associated with the second resource type was incremented by the second quantity.

12. The method of claim 9, wherein sending the at least one message associated with performance of the destination transfer further comprises one or more of:

sending an authorization allowing the placement of a hold on a fourth quantity of the second resource type in the third resource pool; and

sending an instruction to execute the destination transfer of the second quantity of the second resource type from the third resource pool to the fourth resource pool.

13. The method of claim 9, wherein the second resource pool and the third resource pool track resources controlled by a first party.

14. The method of claim 9, wherein a value of the first quantity of the first resource type is greater than a value of the second quantity of the second resource type.

15. The method of claim 9, wherein the message that a hold has been placed comprises a prepared transfer receipt signed with a private cryptographic key, and further comprising verifying the prepared transfer receipt with public cryptographic key.

16. The method of claim 9, wherein the resource type comprises a currency, cryptocurrency, financial instrument, commodity, or computational resource.

17. A computer-implemented method performed on a data processing apparatus comprising:

receiving at a first computing device a prepared transfer receipt from each of a plurality of resource tracking systems in a transfer chain, each resource tracking system comprising a respective computing device, wherein the prepared transfer receipt indicates that each of the resource tracking systems has placed a hold on a respective quantity of a respective resource type in respective resource pools, wherein one of the resource tracking systems comprises a blockchain ledger, and wherein a first resource pool of the one of the resource tracking systems comprises a first register on the blockchain ledger and a second resource pool on the one of the resource tracking systems comprises a second register on the blockchain ledger, and wherein the blockchain ledger is distributed across a plurality of computing devices of the one of the resource tracking systems; and

sending by the first computing device a signed message to each of the plurality of resource tracking systems and each of a plurality of intermediaries, wherein the signed message is signed with a cryptographic private key of the first computing device fulfills a condition on each of the holds placed by each of the resource tracking systems and causes each of the plurality of intermediaries to send at least one instruction to at least one resource tracking system to execute a transfer by decrementing a respective register in the respective resource pool of the at least one resource tracking system and incrementing at least one other register on the at least one resource tracking system to at least one of the plurality of resource tracking systems, wherein the first register on the blockchain ledger is decremented using a message signed with a cryptographic private key corresponding to a cryptographic public key of the first resource pool.

18. The computer-implemented method of claim 17, further comprising signing the signed message with private cryptographic key before sending the signed message to each of the plurality of resource tracking systems and each of the plurality of intermediaries.