Universal Tokenisation System For Blockchain-based Cryptocurrencies

  • Published: Aug 31, 2017
  • Earliest Priority: Feb 23 2016
  • Family: 17
  • Cited Works: 6
  • Cited by: 1
  • Cites: 0
  • Additional Info: Cited Works Full text
Abstract

A method of creating, redeeming and transferring tokens associated with tokens on a peer-to-peer distributed ledger. The method includes including metadata associated with the token in a redeem script, wherein the redeem script is associated with a transaction of cryptocurrency on the peer-to-peer distributed ledger. One aspect of the invention provides a method of issuing and/or transferring a token, comprising the steps of generating a blockchain transaction (Tx) having an output (Tx O) related to a quantity of cryptocurrency such as Bitcoin, and a hash of a redeem script. The redeem script comprises metadata which in turn comprises a token. The token is a representation of, or a reference to, a tokenised entity. The redeem script also comprises at least one (preferably two or more) public cryptographic keys. The metadata is provided in the redeem script at a location which is designated in the underlying blockchain protocol as a location for a cryptographic key.


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Document History
  • Publication: Aug 31, 2017
  • Application: Feb 14, 2017
    WO IB 2017050819 W
  • Priority: Mar 11, 2016
    GB GB 201604225 A
  • Priority: Feb 23, 2016
    GB GB 201603125 A

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