20240029151. Blockchain Digital Cryptocurrency Loan System simplified abstract (Unknown Organization)
Contents
Blockchain Digital Cryptocurrency Loan System
Organization Name
Inventor(s)
Maurice Vanegas of Sun Valley CA (US)
Isaac Vanegas of Sun Valley CA (US)
Pranay Bhattacharyya of Newbury Park CA (US)
Blockchain Digital Cryptocurrency Loan System - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240029151 titled 'Blockchain Digital Cryptocurrency Loan System
Simplified Explanation
The patent application describes a cryptographic blockchain computer network digital cryptocurrency loan system that rewards both the loan holder and the loan paying network users with system utility fund tokens for each loan payment made. These system utility fund tokens entitle the system users to receive dividend distributions of passive income from a system digital cryptocurrency investment fund.
- The system is a blockchain-based loan system that utilizes digital cryptocurrency.
- The system rewards both the loan holder and the loan paying network users with system utility fund tokens for each loan payment made.
- The system utility fund tokens provide the users with dividend distributions of passive income from a system digital cryptocurrency investment fund.
- The system operates on a cryptographic blockchain computer network, ensuring security and transparency.
- The system incentivizes loan payments by providing additional benefits in the form of system utility fund tokens.
Potential Applications:
- Peer-to-peer lending platforms
- Financial institutions offering cryptocurrency loans
- Cryptocurrency investment funds
Problems Solved:
- Lack of incentives for loan payments in traditional loan systems
- Limited access to passive income opportunities for cryptocurrency users
- Lack of transparency and security in loan systems
Benefits:
- Incentivizes loan payments through the reward system
- Provides users with passive income opportunities through dividend distributions
- Ensures security and transparency through the use of cryptographic blockchain technology
Original Abstract Submitted
a cryptographic blockchain computer network digital cryptocurrency loan system that rewards both the loan holder and the loan paying network users with system utility fund tokens for each loan payment made. system utility fund tokens entitle the system users to receive dividend distributions of passive income from a system digital cryptocurrency investment fund.
