Invention Grant
- Patent Title: Digital asset zero-custody switch
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Application No.: US15365783Application Date: 2016-11-30
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Publication No.: US11210663B2Publication Date: 2021-12-28
- Inventor: Erik Voorhees
- Applicant: Shapeshift AG
- Applicant Address: US CO Denver
- Assignee: Shapeshift AG
- Current Assignee: Shapeshift AG
- Current Assignee Address: US CO Denver
- Agency: Sanderson IP Law, Ltd.
- Main IPC: G06Q20/38
- IPC: G06Q20/38 ; H04L29/08 ; H04L29/06 ; H04L9/32 ; H04L9/08 ; G06Q20/22

Abstract:
The embodiments described herein comprise hardware and software improvements in blockchain-asset exchange technology, whereby one or more servers automatically, based on a set of predetermined rules, executes a mechanism allowing blockchain-asset exchange customers to place standing-limit or market orders for blockchain-based digital assets (e.g., cryptocurrencies) with a counter-party, but without counter-party risk. The counter-party will not receive the payment until the customer's exchange order has executed, and the customer has taken possession and ownership of the desired asset. The customer cannot reverse payment or otherwise rescind the payment from the counter-party once the customer receives the desired asset. The systems and methods use blockchain databases, multisignature key signing procedures, and a transparent, objective, automated, rules-based software agent t manage and autonomously govern transfer of digital blockchain-based assets in a multi-party exchange scenario, without risk of asset loss and without the discretion of any human actor.
Public/Granted literature
- US20170154331A1 SYSTEMS AND METHODS FOR IMPROVING SECURITY IN BLOCKCHAIN-ASSET EXCHANGE Public/Granted day:2017-06-01
Information query