US 2015/0363770 A1 - Cryptocurrency Transaction Payment System - The Lens

Cryptocurrency Transaction Payment System

Published: Dec 17, 2015
Earliest Priority: Jun 16 2014
Family: 1
Cited Works: 0
Cited by: 19
Cites: 10
Additional Info: Full text

Abstract

A system comprises a memory operable to store a customer account associated with a customer and a processor communicatively coupled to the memory. The processor is able encode cryptocurrency information associated with the customer account onto a payment instrument. The processor is also able to receive a request for a cryptocurrency transaction from the customer using the payment instrument. In response to receiving the request, the processor is able to determine cryptocurrency information associated with the customer account and determine cryptocurrency information associated with a recipient. The processor is further able to associate the first amount of cryptocurrency with the customer account and initiate a transfer of the first amount of cryptocurrency to an account associated with the recipient.

Claims

A system comprising:
a memory operable to:
store a customer account associated with a customer; and

a processor communicatively coupled to the memory, the memory including executable instructions that upon execution cause the system to:
encode cryptocurrency information associated with the customer account onto a payment instrument;

receive a request, from the customer using the payment instrument, for a cryptocurrency transaction, the request indicating a first amount of cryptocurrency associated with the cryptocurrency transaction; and

in response to receiving the request:
determine cryptocurrency information associated with the customer account;

determine cryptocurrency information associated with a recipient;

associate, based at least in part upon cryptocurrency information associated with the customer, the first amount of cryptocurrency with the customer account; and

initiate, based at least in part upon cryptocurrency information associated with the recipient, a transfer of the first amount of cryptocurrency to an account associated with the recipient.
The system of claim 1, wherein encoding cryptocurrency information comprises encoding a customer public key associated with the customer account onto the payment instrument.
The system of claim 1, wherein encoding cryptocurrency information comprises:
generating a token, the token representing a customer public key associated with the customer account; and

encoding the token onto the payment instrument.
The system of claim 1, the memory further including executable instructions that upon execution cause the system to associate the payment instrument with one or more of a plurality of cryptocurrency addresses.
The system of claim 1, the memory further including executable instructions that upon execution cause the system to:
determine whether the customer account comprises a minimum amount of cryptocurrency for the cryptocurrency transaction;

in response to determining the customer account does not comprise the minimum amount of cryptocurrency:
initiate a purchase of a quantity of cryptocurrency from a cryptocurrency exchange; and

transfer at least a portion of the quantity of cryptocurrency to the customer account.
The system of claim 1, wherein the cryptocurrency is a first currency, and the memory further including executable instructions that upon execution cause the system to:
determine whether the customer account comprises a minimum amount of the first currency for the cryptocurrency transaction;

in response to determining the customer account does not comprise the minimum amount of the first currency, determine whether the customer account comprises a quantity of a second currency; and

in response to determining the customer account comprises the quantity of the second currency:
associate the quantity of the second currency with the customer account; transfer the quantity of the second currency into a first enterprise account associated with an enterprise;

determine a second amount of cryptocurrency approximately equivalent to the quantity of the second currency;

associate the second amount of cryptocurrency with a second enterprise account associated with the enterprise; and

transfer the second amount of cryptocurrency to the customer account.
The system of claim 1, wherein the cryptocurrency information associated with the customer account comprises:
a customer public key; and

a customer private key.
The system of claim 1, wherein the request further indicates:
cryptocurrency information associated with the recipient indicating at least a cryptocurrency address associated with the recipient; and

encoded cryptocurrency information associated with the customer account.
A method comprising:
storing, using a processor, a customer account associated with a customer; and

encoding cryptocurrency information associated with the customer account onto a payment instrument;

receiving, at a network interface, a request, from the customer using the payment instrument, for a cryptocurrency transaction, the request indicating a first amount of cryptocurrency associated with the cryptocurrency transaction; and

in response to receiving the request:
determining cryptocurrency information associated with the customer account;

determining cryptocurrency information associated with a recipient;

associating, based at least in part upon cryptocurrency information associated with the customer, the first amount of cryptocurrency with the customer account; and

initiating, using the processor, based at least in part upon cryptocurrency information associated with the recipient, a transfer of the first amount of cryptocurrency to an account associated with the recipient.
The method of claim 9, wherein encoding cryptocurrency information comprises encoding a customer public key associated with the customer account onto the payment instrument.
The method of claim 9, wherein encoding cryptocurrency information comprises:
generating a token, the token representing a customer public key associated with the customer account; and

encoding the token onto the payment instrument.
The method of claim 9, wherein the method further comprises associating the payment instrument with one or more of a plurality of cryptocurrency addresses.
The method of claim 9, further comprising:
determining whether the customer account comprises a minimum amount of cryptocurrency for the cryptocurrency transaction;

in response to determining the customer account does not comprise the minimum amount of cryptocurrency:
initiating a purchase of a quantity of cryptocurrency from a cryptocurrency exchange; and

transferring at least a portion of the quantity of cryptocurrency to the customer account.
The method of claim 9, wherein the cryptocurrency is a first currency, and the method further comprises:
determining whether the customer account comprises a minimum amount of the first currency for the cryptocurrency transaction;

in response to determining the customer account does not comprise the minimum amount of the first currency, determining whether the customer account comprises a quantity of a second currency; and

in response to determining the customer account comprises the quantity of the second currency:
associating the quantity of the second currency with the customer account;

transferring the quantity of the second currency to a first enterprise account associated with an enterprise;

determining a second amount of cryptocurrency approximately equivalent to the quantity of the second currency;

associating the second amount of cryptocurrency with a second enterprise account associated with the enterprise; and

transferring the second amount of cryptocurrency to the customer account.
A server comprising:
a memory operable to:
store a customer account associated with a customer; and

a processor communicatively coupled to the memory, the memory including executable instructions that upon execution cause the system to:
encode cryptocurrency information associated with the customer account onto a payment instrument;

receive a request, from the customer using the payment instrument, for a cryptocurrency transaction, the request indicating a first amount of cryptocurrency associated with the cryptocurrency transaction; and

in response to receiving the request:
determine cryptocurrency information associated with the customer account;

determine cryptocurrency information associated with a recipient;

associate, based at least in part upon cryptocurrency information associated with the customer, the first amount of cryptocurrency with the customer account; and

initiate, based at least in part upon cryptocurrency information associated with the recipient, a transfer of the first amount of cryptocurrency to an account associated with the recipient.
The server of claim 15, wherein encoding cryptocurrency information comprises encoding a customer public key associated with the customer account onto the payment instrument.
The server of claim 15, wherein encoding cryptocurrency information comprises:
generating a token, the token representing a customer public key associated with the customer account; and

encoding the token onto the payment instrument.
The server of claim 15, the memory further including executable instructions that upon execution cause the system to associate the payment instrument with one or more of a plurality of cryptocurrency addresses.
The server of claim 15, the memory further including executable instructions that upon execution cause the system to:
determine whether the customer account comprises a minimum amount of cryptocurrency for the cryptocurrency transaction;

in response to determining the customer account does not comprise the minimum amount of crypto currency:
initiate a purchase of a quantity of cryptocurrency from a cryptocurrency exchange; and

transfer at least a portion of the quantity of cryptocurrency to the customer account.
The server of claim 15, wherein the cryptocurrency is a first currency, and the memory further including executable instructions that upon execution cause the system to:
determine whether the customer account comprises a minimum amount of the first currency for the cryptocurrency transaction;

in response to determining the customer account does not comprise the minimum amount of the first currency, determine whether the customer account comprises a quantity of a second currency; and

in response to determining the customer account comprises the quantity of the second currency:
associate the quantity of the second currency with the customer account; transfer the quantity of the second currency into a first enterprise account associated with an enterprise;

determine a second amount of cryptocurrency approximately equivalent to the quantity of the second currency;

associate the second amount of cryptocurrency with a second enterprise account associated with the enterprise; and

transfer the second amount of cryptocurrency to the customer account.