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- Nachgewiesen in: USPTO Patent Applications
- Sprachen: English
- Document Number: 20200410482
- Publication Date: December 31, 2020
- Appl. No: 17/020653
- Application Filed: September 14, 2020
- Assignees: MFF LLC. (Palm Beach Gardens, FL, US)
- Claim: 1. A method for facilitating an exchange of a digital currency issued by a financial institution and that is fixed with respect to a fiat currency, comprising: receiving, from a user, at a financial institution, a request to exchange an amount of a first digital currency that is fixed with respect to a first fiat currency into an equivalent amount of a second digital currency that is fixed with respect to a second fiat currency; storing the received request for currency exchange in a private distributed ledger for the financial institution; and transferring out the amount of the first digital currency from a digital wallet for the user and transferring in the equivalent amount of the second digital currency to the digital wallet for the user.
- Claim: 2. The method of claim 1, wherein the financial institution maintains an omnibus account for each digital currency that is fixed with respect to a fiat currency.
- Claim: 3. The method of claim 2, wherein each omnibus account includes an amount of the fiat currency equivalent to an amount of the digital currency issued by the financial institution.
- Claim: 4. The method of claim 3, wherein, in order to complete the received request for currency exchange, the financial institution transfers out a corresponding amount of the first fiat currency from a first omnibus account for the first fiat currency and transfers in a corresponding equivalent amount of the second fiat currency to a second omnibus account for the second fiat currency.
- Claim: 5. The method of claim 1, wherein the financial institution tracks ownership of digital currency issued by the financial institution, which has deposit insurance for an amount of fiat currency that is equivalent in value to an amount of the digital currency, being backed or supported by the fiat currency in an omnibus account at the financial institution.
- Claim: 6. The method of claim 5, wherein the digital wallet for the user includes an indication of a country that is insuring the financial institution relating to the digital currency in the digital wallet for the user, and/or wherein the digital wallet includes a color and/or a code indication regarding the country that is insuring the financial institution relating to the digital currency in the digital wallet for the user or that the financial institution is not insured relating to the digital currency in the digital wallet for the user.
- Claim: 7. The method of claim 1, wherein the received request for currency exchange is performed in real-time, and wherein a current currency exchange rate is applied to the request.
- Claim: 8. The method of claim 1, wherein the user of the digital wallet sets one or more notifications relating to an exchange rate between the first fiat currency and the second fiat currency.
- Claim: 9. The method of claim 8, wherein the request for currency exchange is initiated automatically based on receipt of the one or more notifications.
- Claim: 10. The method of claim 1, wherein the second digital currency is issued by a financial institution different from the financial institution that issued the first digital currency.
- Claim: 11. The method of claim 1, further comprising: receiving, from the user, at the financial institution, a request to exchange an amount of the first digital currency that is fixed with respect to the first fiat currency into an equivalent portion of a digitized asset representative of a commodity; storing the received request for commodity exchange in the private distributed ledger for the financial institution; and transferring out the amount of the digital currency from the digital wallet for the user and transferring in the equivalent portion of the digitized asset representative of the commodity to the digital wallet for the user.
- Claim: 12. The method of claim 11, wherein the commodity includes gold, silver, platinum, copper, oil, natural gas, corn, soybeans, wheat, cocoa, coffee, cotton, or sugar.
- Claim: 13. The method of claim 11, wherein the commodity is represented as the digitized asset in the form of a token to be included in a digital transaction and/or stored in the digital wallet for the user.
- Claim: 14. The method of claim 11, wherein the digitized asset for the commodity is stored in a portion of the digital wallet separate from a portion for the first and second digital currencies.
- Claim: 15. The method of claim 11, wherein the value for the digitized asset fluctuates based on a value of the commodity, and wherein the digital wallet indicates the current value, an amount of the commodity owned, and/or the value at the time of the transaction.
- Claim: 16. The method of claim 15, wherein the digital wallet indicates to the user the value of the digitized asset fluctuates based on the value of the commodity.
- Claim: 17. A system for facilitating an exchange of a digital currency issued by a financial institution and that is fixed with respect to a fiat currency, comprising: a computing node, wherein the computing node is included in a plurality of computing nodes participating in a private distributed ledger for a financial institution, wherein the private distributed ledger for the financial institution stores one or more transaction blocks representing transactions in one or more digital currencies issued by the financial institution and fixed with respect to an associated fiat currency, wherein each computing node in the plurality of computing nodes stores and maintains a respective copy of the private distributed ledger for the financial institution, and wherein the computing node is configured to: store and maintain a copy of the private distributed ledger for the financial institution; receive a transaction for exchanging an amount of a first digital currency that is fixed with respect to a first fiat currency into an equivalent amount of a second digital currency that is fixed with respect to a second fiat currency, wherein the first digital currency and the second digital currency are issued by the financial institution, wherein the first digital currency is associated with a first omnibus account at the financial institution and the second digital currency is associated with a second omnibus account at the financial institution; generate a new transaction block representing the transaction for addition to the private distributed ledger for the financial institution; transmit the new transaction block to the plurality of computing nodes participating in the private distributed ledger for the financial institution; receive, from the plurality of computing nodes, an indication of validity of the new transaction block; and based on the indication of validity, insert the new transaction block into the copy of the private distributed ledger for the financial institution to complete the transaction for transferring out the amount of the first digital currency from a digital wallet for the user and transferring in the equivalent amount of the second digital currency to the digital wallet for the user, wherein the financial institution transfers out a corresponding amount of the first fiat currency from the first omnibus account for the first fiat currency and transfers in a corresponding equivalent amount of the second fiat currency to the second omnibus account for the second fiat currency, wherein each computing node in the plurality of computing nodes includes the new transaction block in a respective copy of the private distributed ledger for the financial institution.
- Claim: 18. A digital wallet for one or more digital currencies from one or more financial institutions, comprising: one or more pairs of public and private keys for a user holding one or more digital currencies from one or more of financial institutions, including a digital currency issued by a financial institution and that is fixed with respect to a fiat currency, wherein a pair of public and private keys is used by the user to receive and/or send the digital currency issued by the financial institution corresponding to the pair of public and private keys and to record a transaction in the digital currency in a private distributed ledger for the financial institution.
- Claim: 19. The digital wallet of claim 18, wherein no digital currency is stored in the digital wallet, and wherein the digital currency issued by the financial institution is stored and maintained in the private distributed ledger for the financial institution and/or a clearing house.
- Claim: 20. The digital wallet of claim 18, wherein in order to use the digital currency from the digital wallet, a user authorizes use of the corresponding private key for the digital currency to digitally sign the transaction involving the digital currency.
- Claim: 21. The digital wallet of claim 18, wherein the digital wallet includes software in the form of an application installed locally on a computer, a mobile phone, and/or a tablet.
- Claim: 22. The digital wallet of claim 18, wherein the digital wallet includes a mobile wallet, a desktop wallet, and/or a hardware wallet.
- Claim: 23. The digital wallet of claim 22, wherein the mobile wallet, the desktop wallet, and/or the hardware wallet requires a personal identification number (PIN), a password, biometrics, facial recognition, a fingerprint, and/or an eye scan.
- Claim: 24. The digital wallet of claim 18, wherein the digital wallet is connected via an application programming interface (API) to a trusted third party, and wherein the one or more pairs of public and private keys are managed by the trusted third party.
- Claim: 25. The digital wallet of claim 18, wherein the digital wallet includes hardware for storing the one or more pairs of public and private keys.
- Claim: 26. The digital wallet of claim 25, wherein the hardware includes a button that a user is required to physically press or touch in order to digitally sign the transaction.
- Claim: 27. The digital wallet of claim 25, wherein the hardware requires that a user submit a personal identification number (PIN), a password, biometrics, facial recognition, a fingerprint, and/or an eye scan before the user can digitally sign the transaction.
- Claim: 28. The digital wallet of claim 18, wherein the digital wallet provides a user with consumer rewards, loyalty points, and/or geo-location rewards for using the digital wallet.
- Claim: 29. The digital wallet of claim 28, wherein a reward level for a user is determined based on a balance of the digital currency maintained in the digital wallet and/or meeting one or more transaction thresholds.
- Claim: 30. A digital wallet for one or more digital currencies from one or more financial institutions, comprising: one or more pairs of public and private keys for a user holding one or more digital currencies from one or more of financial institutions, including a digital currency issued by a financial institution and that is fixed with respect to a fiat currency, wherein: a plurality of computing nodes participate in a private distributed ledger for the financial institution, each computing node in the plurality of computing nodes stores and maintains a copy of the private distributed ledger, the private distributed ledger stores one or more transaction blocks representing transactions in the digital currency, a private key of a pair of public and private keys is used to generate a digital signature for the user to record, on the private distributed ledger, a transaction in the digital currency issued by the financial institution and corresponding to the pair of public and private keys, and based on an indication of validity of the digital signature, from the plurality of computing nodes, a new transaction block representing the transaction is inserted into the private distributed ledger to complete the transaction in the digital currency.
- Current International Class: 06; 06
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