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Method and system for linking blockchain-based assets to fiat currency accounts

A blockchain and currency technology, used in the field of linking blockchain-based assets to legal currency accounts and systems, can solve problems such as consumers being unable to prove identity wallet ownership and inability to recourse.

Active Publication Date: 2021-07-30
MASTERCARD INT INC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

Additionally, due to the anonymity of the blockchain, consumers may not be able to prove their identity and ownership of their wallets, thus providing little recourse if their wallets and / or associated currencies are stolen

Method used

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  • Method and system for linking blockchain-based assets to fiat currency accounts
  • Method and system for linking blockchain-based assets to fiat currency accounts
  • Method and system for linking blockchain-based assets to fiat currency accounts

Examples

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Embodiment Construction

[0027] Glossary

[0028] Payment Network - A system or network for transferring money through the use of cash substitutes. Payment networks can use a variety of different protocols and procedures to handle the transfer of money for various types of transactions. Transactions that may be conducted through the payment network may include product or service purchases, credit purchases, debit transactions, funds transfers, account withdrawals, and the like. The payment network may be configured to perform transactions through cash substitutes, which may include payment cards, letters of credit, checks, transaction accounts, and the like. Examples of networks or systems configured to function as payment networks include American operating networks or systems. The term "payment network" as used herein may refer to the payment network as an entity and to the physical payment network (eg, the devices, hardware and software that make up the payment network).

[0029] Transac...

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PUM

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Abstract

A method for managing a fractional reserve of blockchain currency comprising: storing fiat amounts associated with fiat currency in a first central account; storing blocks associated with blockchain currency in a second central account on-chain amounts; store multiple account profiles, each account profile includes fiat currency amounts, blockchain currency amounts, account identifiers, and addresses; receive transaction messages associated with payment transactions, based on one or more criteria The transaction message is formatted and the transaction message includes a plurality of data elements including a data element reserved for private use including a specific address and a transaction amount; identifying a specific address including a specific address; an account profile, the specific address included in the data element in the received transaction message; and based on the transaction amount included in the data element in the received transaction message, updating the address included in the identified specific account profile Blockchain currency amount.

Description

[0001] Cross References to Related Applications [0002] This application claims priority to US Patent Application No. 14 / 719,047, filed May 21, 2015, the contents of which are hereby incorporated by reference in their entirety. technical field [0003] The present disclosure relates to the management of fractional reserves of blockchain currencies, and in particular to the use of centralized accounts to manage fractional reserves of fiat and blockchain currencies updated through transaction messages corresponding to fiat and blockchain-based payment transactions. Background technique [0004] Recently, consumers who value anonymity and security have increased their use of blockchain currencies over traditional fiat currencies. Currencies that use blockchains (e.g., cryptocurrencies ("cryptocurrencies") provide consumers with decentralized and relatively anonymous and secure currencies when used. For example, transactions recorded in blockchains may not require Any informat...

Claims

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Application Information

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Patent Type & Authority Patents(China)
IPC IPC(8): G06Q20/06G06Q20/08
CPCG06Q20/065G06Q20/3827G06Q40/04G06F16/27G06Q20/0855G06Q20/3678G06Q20/3829G06Q20/10H04L9/50
Inventor S·C·戴维斯
Owner MASTERCARD INT INC