US 9258307 B2 - Decentralized Electronic Transfer System - The Lens

Decentralized Electronic Transfer System

Published: Feb 9, 2016
Earliest Priority: Mar 02 2012
Family: 10
Cited Works: 0
Cited by: 1
Cites: 19
Additional Info: Full text

Abstract

An exemplary technique is provided for use in a decentralized electronic transfer system. A first digital code that represents a first transaction is generated from a first user's secure repository to the first user's unsecure repository. The first digital code is sent to a secure storage memory related to the unsecure repository to be stored in an area of the memory. A processor related to the unsecure repository generates a second digital code that represents a second transaction from the unsecure repository to the second user's repository. The processor retrieves the first digital code stored in the secure storage memory and publishes the retrieved digital code to validate the first transaction. In addition, the processor publishes the second digital code to validate the second transaction.

Claims

A method for use in a decentralized electronic transfer system, the method comprising the steps of:
receiving, at a processor related to an unsecure repository of a first user, a first digital code that represents a first transaction from a secure repository of the first user to the unsecure repository;

storing, by the processor, the first digital code in an area of a secure storage memory related to the unsecure repository;

generating, by the processor, a second digital code that represents a second transaction from the unsecure repository to a second user's repository;

retrieving, by the processor, the first digital code stored in the secure storage memory;

publishing, by the processor via an Internet connection, the retrieved first digital code to validate the first transaction; and

publishing, by the processor via the Internet connection, the second digital code to validate the second transaction;

wherein the processor generates digital codes based on a first public address that represents the unsecure repository, a second public address that represents the second user's repository, a value and a private signature related to the unsecure repository.
The method according to claim 1, wherein the first digital code comprises a plurality of digital sub-codes each representing a transaction of a predetermined value, and wherein the processor retrieves a selection of the plurality of digital sub-codes in such a manner that the value of the selection is equal or higher than a second transaction's value.
The method according to claim 2, further comprising the step of generating, by the processor, a third digital code that represents a third transaction from the unsecure repository to the secure repository, the third transaction representing a value in such a manner that the value of the selection is equal to a sum of the second transaction's value and the third transaction's value.
The method according to claim 3, further comprising the step of publishing, by the processor via the Internet connection, the third digital code, after the publication of the retrieved first digital code, to validate the third transaction.
The method according to claim 1, wherein the step of retrieving, by the processor, the first digital code is preceded by the step of entering a pin-code to gain access to the secure storage memory.
The method according to claim 1, wherein the step of generating, by the processor, the second digital code is preceded by the step of entering a second pin-code to gain access to a codes generating function in the processor.
The method according to claim 1, wherein the step of publishing, by the processor via the Internet connection, the retrieved first digital code and the step of publishing, by the processor via the Internet connection, the second digital code are executed in a predetermined timeframe.
The method according to claim 7, wherein the predetermined timeframe is smaller than 5 minutes.
The method according to claim 7, wherein the step of publishing, by the processor via the Internet connection, the retrieved first digital code and the step of publishing, by the processor via the Internet connection, the second digital code are executed via an atomic operation.