SYSTEMS AND METHODS FOR EXCHANGING ELECTRONIC TOKENS

Abstract: methods and systems are presented for providing a token exchange framework that enables exchanges of reward tokens corresponding to different reward systems and/or different merchants. the token exchange framework includes a blockchain for storing transaction data associated with transactions of reward tokens. during the onboarding process, reward systems associated with different merchants may be connected to the blockchain of the token exchange framework via one or more bridges. reward tokens may be issued to represent reward data corresponding to the different reward systems, and can be freely exchanged within the token exchange framework via the blockchain. when a transaction for redeeming a reward is received, reward tokens in the blockchain can be converted into reward data corresponding to the merchant's reward system and process the transaction with the merchant using the converted reward data.

Inventor(s): Daniel Kang, Thomas Chen, Jonathan Ko

CPC Classification: G06Q20/381 ({Currency conversion})

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