Invention Grant
- Patent Title: Systems and methods for blockchain-based transaction settlement
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Application No.: US16930168Application Date: 2020-07-15
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Publication No.: US11080687B2Publication Date: 2021-08-03
- Inventor: Anna Vladi
- Applicant: BlocX LLC
- Applicant Address: US NY New York
- Assignee: BlocX LLC
- Current Assignee: BlocX LLC
- Current Assignee Address: US NY New York
- Agency: Waller Lansden Dortch & Davis, LLP
- Agent Blake M. Bernard; Christoper T. McNeill
- Main IPC: G06Q20/36
- IPC: G06Q20/36 ; G06Q20/38 ; H04L9/06 ; H04L9/32 ; G06Q20/22

Abstract:
A system may include a blockchain network, a trust entity, and multiple user devices. A smart contract of the blockchain network may be configured to receive data from the trust entity and transfer digital stable tokens to a first user's cryptocurrency wallet. The first user may generate a blockchain transaction on the blockchain network in order to transfer some digital stable tokens to a second user. The second user may cash out some of the digital stable tokens via a smart contract of the blockchain network. The smart contract may send an instruction to the trust entity's computing system to transfer fiat currency into a financial account of the second user. A token cross-chain bridge may also facilitate the exchange of cryptocurrency for digital stable tokens.
Public/Granted literature
- US20210019737A1 Systems and Methods for Blockchain-based Transaction Settlement Public/Granted day:2021-01-21
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