Systems and Methods for Facilitating A Time Varying Cryptocurrency Transfer Over A Decentralized Network Through Smart Contracts Associated with Cryptocurrency Blockchain Technology

Content Provider	The Lens
Abstract	Systems and methods for facilitating a time varying cryptocurrency transfer over a decentralized network through smart contracts associated with cryptocurrency blockchain technology are disclosed. Exemplary implementations can: receive, at a network interface, a first electronic request for cryptocurrency transfer from a first account associated with a first cryptocurrency public key to a second account associated with a second cryptocurrency public key; transmit a second electronic request for a time varying cryptocurrency transfer from the second account to a third account associated with a third cryptocurrency public key; and upon completion of the second smart contract, fulfill the first set of conditions, thereby completing the first smart contract.
Related Links	https://www.lens.org/lens/patent/010-641-007-684-939/frontpage
Language	English
Publisher Date	2019-08-22
Access Restriction	Open
Content Type	Text
Resource Type	Patent
Jurisdiction	United States of America
Date Applied	2018-02-20
Applicant	Trivver Inc
Application No.	201815900619
Claim	A system comprising: a processing system, in a decentralized network, utilizing at least one hardware processing core configured to: receive a first electronic request based on a first smart contract for cryptocurrency transfer from a first account associated with a first cryptocurrency public key to a second account associated with a second cryptocurrency public key, wherein at least one computer system in the decentralized network, using the first smart contract, transfers a first determined value of cryptocurrency to the second account upon fulfillment of a first set of conditions that are provided within the first smart contract, wherein the first smart contract includes a first set of data including at least one of a product identifier or a maximum amount value, transmit a second electronic request based on a second smart contract for cryptocurrency transfer from the second account to a third account associated with a third cryptocurrency public key, wherein the second smart contract is generated using a second cryptocurrency private key associated with the second public key, and wherein the at least one computer system in the decentralized network, using the second smart contract, transfers a second determined value of cryptocurrency to the third account upon fulfillment of a second set of conditions that are provided within the second smart contract, and wherein the second smart contract is generated using the first set of data, and upon completion of the second smart contract, fulfill the first set of conditions, thereby completing the first smart contract; wherein the system is configured for facilitating the cryptocurrency transfer over the decentralized network through smart contracts associated with cryptocurrency blockchain technology. The system of claim 1 , wherein the second smart contract further includes an amount determining algorithm that, wherein the amount determining algorithm determines the second determined value of cryptocurrency received by the third account, and wherein the second smart contract includes a first timestamp value, and wherein the amount determining algorithm decrements cryptocurrency received by the third account based on a time period determined by subtracting the first timestamp value from a second timestamp value, wherein the first timestamp value is a timestamp generated at time of transmitting the second smart contract, and wherein the second timestamp value is the timestamp generated at time of completion of the second smart contract. The system of claim 2 , wherein the first set of conditions includes receiving data related to an identity of a user associated with the third account, the time period determined by the amount determining algorithm, and determined value of cryptocurrency transferred to the third account from the second account. The system of claim 1 , wherein identifying information of an authorized user of the third account is not known to an authorized user of the first account until completion of the first smart contract. The system of claim 1 , wherein identifying information of an authorized user of the third account is known to an authorized user of the second account prior to generation of the second smart contract. The system of claim 1 , wherein the first smart contract is generated by another processing system using a first cryptocurrency private key using a first hash function. The system of claim 2 , wherein generation of the amount determining algorithm is based on a predetermined set of criteria provided by an authorized user of the first account. A method comprising: receiving, at a network interface, a first electronic request based on a first smart contract for cryptocurrency transfer from a first account associated with a first cryptocurrency public key to a second account associated with a second cryptocurrency public key, wherein at least one computer system in a decentralized network, using the first smart contract, transfers a first determined value of cryptocurrency to the second account on fulfillment of a first set of conditions that are provided within the first smart contract, wherein the first smart contract includes a first set of data including at least one of a product identifier or a maximum amount value; transmitting a second electronic request based on a second smart contract for cryptocurrency transfer from the second account to a third account associated with a third cryptocurrency public key, wherein the second smart contract is generated using a second cryptocurrency private key associated with the second cryptocurrency public key, and wherein the at least one computer system in the decentralized network, using the second smart contract, transfers a second determined value of cryptocurrency to the third account on fulfillment of a second set of conditions that are provided within the second smart contract, and wherein the second smart contract is generated using the first set of data; and upon completion of the second smart contract, fulfilling, by the processing system, the first set of conditions, thereby completing the first smart contract; wherein the method facilitates the cryptocurrency transfer over the decentralized network through smart contracts associated with cryptocurrency blockchain technology. The method of claim 8 , wherein the second smart contract further includes an amount determining algorithm that, wherein the amount determining algorithm determines the second determined value of cryptocurrency received by the third account, and wherein the second smart contract includes a first timestamp value, and wherein the amount determining algorithm decrements cryptocurrency received by the third account based on a time period determined by subtracting the first timestamp value from a second timestamp value, wherein the first timestamp value is a timestamp generated at time of transmitting the second smart contract, and wherein the second timestamp value is the timestamp generated at time of completion of the second smart contract. The method of claim 9 , wherein the first set of conditions includes receiving data related to an identity of a user associated with the third account, the time period determined by the amount determining algorithm, and determined value of cryptocurrency transferred to the third account from the second account. The method of claim 8 , wherein identifying information of an authorized user of the third account is not known to an authorized user of the first account until completion of the first smart contract. The method of claim 8 , wherein identifying information of an authorized user of the third account is known to an authorized user of the second account prior to generation of the second smart contract. The method of claim 8 , wherein the first smart contract is generated by another processing system using a first cryptocurrency private key using a first hash function. A non-transitory computer-readable storage medium comprising instructions which when executed by a processing system comprising at least one hardware core performs a method comprising: receiving a first electronic request based on a first smart contract for cryptocurrency transfer from a first account associated with a first cryptocurrency public key to a second account associated with a second cryptocurrency public key, wherein at least one computer system in a decentralized network, using the first smart contract, transfers a first determined value of cryptocurrency to the second account on fulfillment of a first set of conditions that are provided within the first smart contract, wherein the first smart contract includes a first set of data including at least one of a product identifier or a maximum amount value; transmitting a second electronic request based on a second smart contract for cryptocurrency transfer from the second account to a third account associated with a third cryptocurrency public key, wherein the second smart contract is generated using a second cryptocurrency private key associated with the second cryptocurrency public key, and wherein the at least one computer system in the decentralized network, using the second smart contract, transfers a second determined value of cryptocurrency to the third account on fulfillment of a second set of conditions that are provided within the second smart contract, and wherein the second smart contract is generated using the first set of data; and upon completion of the second smart contract, fulfilling the first set of conditions, thereby completing the first smart contract; wherein the processing system facilitates the cryptocurrency transfer over the decentralized network through smart contracts associated with cryptocurrency blockchain technology. The non-transitory computer-readable storage medium of claim 14 , wherein the second smart contract further includes an amount determining algorithm that, wherein the amount determining algorithm determines the second determined value of cryptocurrency received by the third account, and wherein the second smart contract includes a first timestamp value, and wherein the amount determining algorithm decrements cryptocurrency received by the third account based on a time period determined by subtracting the first timestamp value from a second timestamp value, wherein the first timestamp value is a timestamp generated at time of transmitting the second smart contract, and wherein the second timestamp value is the timestamp generated at time of completion of the second smart contract. The non-transitory computer-readable storage medium of claim 15 , wherein the first set of conditions includes receiving data related to an identity of a user associated with the third account, the time period determined by the amount determining algorithm, and determined value of cryptocurrency transferred to the third account from the second account. The non-transitory computer-readable storage medium of claim 14 , wherein identifying information of an authorized user of the third account is not known to an authorized user of the first account until completion of the first smart contract. The non-transitory computer-readable storage medium of claim 14 , wherein identifying information of an authorized user of the third account is known to an authorized user of the second account prior to generation of the second smart contract. The non-transitory computer-readable storage medium of claim 14 , wherein the first smart contract is generated by another processing system using a first cryptocurrency private key using a first hash function. The non-transitory computer-readable storage medium of claim 15 , wherein generation of the amount determining algorithm is based on a predetermined set of criteria provided by an authorized user of the first account.
CPC Classification	INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE; COMMERCIAL; FINANCIAL; MANAGERIAL OR SUPERVISORY PURPOSES;SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE; COMMERCIAL; FINANCIAL; MANAGERIAL OR SUPERVISORY PURPOSES; NOT OTHERWISE PROVIDED FOR
Extended Family	010-641-007-684-939 148-804-121-551-29X 008-077-046-344-404
Patent ID	20190259007
Inventor/Author	Lamontagne Joel
IPC	G06Q20/06 G06Q20/38
Status	Active
Simple Family	010-641-007-684-939 148-804-121-551-29X 008-077-046-344-404
CPC (with Group)	G06Q20/065 G06Q20/3829 G06Q2220/00 G06Q30/0207 G06Q20/405 G06Q20/0658
Issuing Authority	United States Patent and Trademark Office (USPTO)
Kind	Patent Application Publication