Cryptographic Security For Electronic Transactions

  • Published: Jul 14, 2016
  • Earliest Priority: Jan 14 2015
  • Family: 1
  • Cited Works: 0
  • Cited by: 12
  • Cites: 0
  • Additional Info: Full text

Various embodiments include a wallet service that processes a cryptocurrency deposit into a cryptocurrency wallet account maintained in a wallet service system. The wallet service can receive an authentication parameter to authenticate the cryptocurrency deposit and record a transfer of a cryptocurrency amount from a first cryptocurrency address to a second cryptocurrency address. In response to and substantially immediately after authenticating the authentication parameter, the wallet service can exchange the cryptocurrency amount associated with the cryptocurrency deposit for fiat currency proceeds and deposit the fiat currency proceeds into a fiat reserve account. The wallet service can then associate exchangeable credit equal to the fiat currency proceeds to the cryptocurrency wallet account. In response to receiving a user-initiated request to spend a target portion of the exchangeable credit, the cryptocurrency wallet service can exchange, from the fiat reserve account, for cryptocurrency proceeds equal to the target portion.

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Document History
  • Publication: Jul 14, 2016
  • Application: Jan 14, 2016
    US US 201614995526 A
  • Priority: Jan 14, 2016
    US US 201614995526 A
  • Priority: Jan 14, 2015
    US US 201562103318 P

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