Secure Mobile Electronic Payment System And Cryptocurrency System Where Only The Bank Has The Key

  • Published: Oct 2, 2016
  • Earliest Priority: Apr 02 2015
  • Family: 1
  • Cited Works: 0
  • Cited by: 0
  • Cites: 0
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Abstract

A single, private, master key crypto-currency mobile payment and financial transaction process whereby an index, offset, or pointer into that unshared private master key is appended to existing banking routing information for payments and funds transfer. Need: There is a need for a secure mobile, electronic, secure payment and money transfer system where only the bank has the master key, that doesn't change the existing banking routing system to any significant degree, and that is easily adaptable to any framework or financial transfer systems and can be readily adapted to any other digital context that requires secrecy like medical records transfers. Background Bitcoin is a cryptographic, crypto currency process. Because it requires public key asymmetric processes they are by definition vulnerable and breakable. The bitcoin crypto currence process not address the issue that currency is a sovereign value proposition where the value of funds is guaranteed by the ability of a government to tax. It is at odds with the entire global financial system and tries to circumvent it.


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Document History
  • Publication: Oct 2, 2016
  • Application: Apr 2, 2015
    CA CA 2886811 A
  • Priority: Apr 2, 2015
    CA CA 2886811 A

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