20240013212. TRANSFERRING CRYPTOCURRENCY FROM A REMOTE LIMITED ACCESS WALLET simplified abstract (GK8 LTD)
Contents
TRANSFERRING CRYPTOCURRENCY FROM A REMOTE LIMITED ACCESS WALLET
Organization Name
Inventor(s)
Lior Lamesh of Rishon-LeZion (IL)
TRANSFERRING CRYPTOCURRENCY FROM A REMOTE LIMITED ACCESS WALLET - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240013212 titled 'TRANSFERRING CRYPTOCURRENCY FROM A REMOTE LIMITED ACCESS WALLET
Simplified Explanation
The patent application describes systems, devices, and methods for transferring cryptocurrency from a limited access cryptocurrency wallet. Here is a simplified explanation of the patent:
- The limited access cryptocurrency wallet creates provisional accounts for recipients in advance and transfers a predefined overall value of cryptocurrency from its associated account to these provisional accounts.
- The wallet also generates a plurality of signed transactions in advance, which represent predefined partial values of cryptocurrency to be transferred from the provisional accounts to the receiving accounts associated with the recipients.
- These signed transactions are then transmitted to a network-connected device.
- Later, in real-time, the network-connected device can transmit one or more of these signed transactions to transfer cryptocurrency from the provisional accounts to the receiving accounts without physically attending to the limited access cryptocurrency wallet.
Potential Applications of this Technology:
- Secure and efficient transfer of cryptocurrency without the need for physical access to the limited access cryptocurrency wallet.
- Facilitating cryptocurrency transactions for multiple recipients by pre-generating signed transactions and allowing them to be transmitted later.
- Enabling automated cryptocurrency transfers without manual intervention.
Problems Solved by this Technology:
- Eliminates the need for physical access to the limited access cryptocurrency wallet, reducing the risk of theft or unauthorized access.
- Streamlines the process of transferring cryptocurrency to multiple recipients by pre-generating signed transactions.
- Enables remote and automated cryptocurrency transfers, improving convenience and efficiency.
Benefits of this Technology:
- Enhanced security by minimizing physical access to the limited access cryptocurrency wallet.
- Improved efficiency and convenience in transferring cryptocurrency to multiple recipients.
- Enables automation and remote management of cryptocurrency transfers.
Original Abstract Submitted
provided herein are systems, devices and methods for transferring cryptocurrency from a limited access cryptocurrency wallet. the limited access cryptocurrency wallet may create, in advance, provisional account(s) allocated for respective recipient(s) and transfer a predefined overall value of cryptocurrency from its associated account associated to the provisional account(s). the limited access cryptocurrency wallet may further generate, in advance, a plurality of signed transactions for transferring a plurality of predefined partial values of cryptocurrency from the provisional account(s) to receiving account(s) associated with the recipient(s) and transmit the plurality of signed transactions to a network connected device. later, in real-time, the network connected device may transmit one or more of the plurality of signed transactions for transferring cryptocurrency from the provisional account(s) to the receiving account(s) without physically attending to the limited access cryptocurrency wallet.
