Cryptocurrency payment system payments backed by assignable tokens

Number of patents in Portfolio can not be more than 2000

United States of America

PATENT NO 12243032
APP PUB NO 20220076334A1
SERIAL NO

17443696

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Importance

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Abstract

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A method includes determining, by a digital asset custodial device, to assign conditional access rights to an amount of assignable tokens stored in a digital asset custodial device account of the digital asset custodial device to a network computing device of a cryptocurrency payment system to back certain interactions of the cryptocurrency payment system. The conditional access rights are in accordance with a set of conditions. The assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger. The method further includes locking, by the digital asset custodial device and in accordance with the self-enforcing smart contract, the amount of the assignable tokens stored in the digital asset custodial device account and providing the conditional access rights to the amount of the assignable tokens to the network computing device. The network computing device does not store the amount of the assignable tokens.

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Patent Owner(s)

  • FLEXA INC.

International Classification(s)

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Filter, Trevor New York, US 56 157
Kilgore, Zachary Brooklyn, US 48 66
Leshner, Robert New York, US 8 16
Spalding, Tyler Robert New York, US 58 166

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Maintenance Fees

Fee Large entity fee small entity fee micro entity fee due date
3.5 Year Payment $1600.00 $800.00 $400.00 Sep 4, 2028
7.5 Year Payment $3600.00 $1800.00 $900.00 Sep 4, 2032
11.5 Year Payment $7400.00 $3700.00 $1850.00 Sep 4, 2036
Fee Large entity fee small entity fee micro entity fee
Surcharge - 3.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge - 7.5 year - Late payment within 6 months $160.00 $80.00 $40.00
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Surcharge after expiration - Late payment is unavoidable $700.00 $350.00 $175.00
Surcharge after expiration - Late payment is unintentional $1,640.00 $820.00 $410.00