Invention Grant
- Patent Title: Digital currency minting in a system of network nodes implementing a distributed ledger
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Application No.: US17104411Application Date: 2020-11-25
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Publication No.: US11887072B2Publication Date: 2024-01-30
- Inventor: Michael D. Ornelas , Kent Ortell Pollard Bull , Brad Welker , Darren Sessions , Kevin Kraig Steffensen , Haresh Richardson Singh
- Applicant: Bitt Inc.
- Applicant Address: US UT Draper
- Assignee: Bitt Inc.
- Current Assignee: Bitt Inc.
- Current Assignee Address: US UT Draper
- Agency: Fogg & Powers LLC
- Main IPC: G06Q40/02
- IPC: G06Q40/02 ; G06Q40/04 ; G06F16/27 ; H04L9/30 ; G06Q10/10 ; G06Q20/06 ; G06Q20/36 ; G06Q20/38 ; H04L9/32 ; G06Q20/40

Abstract:
A system includes at least a first computing device, at a financial institution, configured to generate a currency request and apply first-level signature(s) to the currency request. A minting request is generated from the currency request and the first-level signature(s). The system also includes at least a second computing device, at a currency management department, configured to apply second-level signature(s) to the minting request to generate a signed minting request. The system also includes a third computing device, at a director's office, configured to apply third-level signature(s) to the signed minting request. The system also includes a plurality of network nodes, implementing a distributed ledger, configured to verify the first-level signature(s), the second-level signature(s), and the third-level signature(s); and mint the digital currency when the first-level signature(s), the second-level signature(s), and the third-level signature(s) are successfully verified.
Public/Granted literature
- US20210182806A1 DIGITAL CURRENCY MINTING IN A SYSTEM OF NETWORK NODES IMPLEMENTING A DISTRIBUTED LEDGER Public/Granted day:2021-06-17
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