View source for PRECIDIAN INVESTMENTS, LLC (20240265355). ASSET-BACKED DIGITAL TOKENS simplified abstract

=ASSET-BACKED DIGITAL TOKENS=


==Organization Name==

[[:Category:PRECIDIAN INVESTMENTS, LLC|PRECIDIAN INVESTMENTS, LLC]]


[[Category:PRECIDIAN INVESTMENTS, LLC]]

==Inventor(s)==

[[:Category:Daniel Joseph Mccabe of Upper Saddle River NJ (US)|Daniel Joseph Mccabe of Upper Saddle River NJ (US)]][[Category:Daniel Joseph Mccabe of Upper Saddle River NJ (US)]]

[[:Category:Paul Edward Kuhnle of Doylestown PA (US)|Paul Edward Kuhnle of Doylestown PA (US)]][[Category:Paul Edward Kuhnle of Doylestown PA (US)]]

[[:Category:Mark Steven Criscitello of Colts Neck NJ (US)|Mark Steven Criscitello of Colts Neck NJ (US)]][[Category:Mark Steven Criscitello of Colts Neck NJ (US)]]

==ASSET-BACKED DIGITAL TOKENS - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240265355 titled 'ASSET-BACKED DIGITAL TOKENS

The abstract describes methods, systems, and apparatus for generating a private cryptographic key and public cryptographic key as a cryptographic key pair, storing them in a trusted execution environment, generating a smart contract for performing a service involving digital currency, and transmitting key information to a privacy computing platform.

* Generation of a private and public cryptographic key pair
* Storage of keys in a trusted execution environment
* Creation of a smart contract for digital currency services
* Verification of conditions for service performance
* Transmission of key information to a privacy computing platform

Potential Applications:
- Secure digital currency transactions
- Smart contract automation
- Privacy-focused computing platforms

Problems Solved:
- Ensuring secure key generation and storage
- Automating service verification processes
- Enhancing privacy in smart contract transactions

Benefits:
- Improved security for cryptographic keys
- Streamlined service verification processes
- Enhanced privacy protection in digital currency transactions

Commercial Applications:
Title: "Secure Digital Currency Transactions: Key Management and Smart Contracts"
This technology can be utilized in financial institutions, blockchain companies, and digital currency exchanges to enhance security and privacy in transactions.

Questions about the technology:
1. How does this technology improve the security of digital currency transactions?
2. What are the key advantages of using a smart contract for service verification in this context?


==Original Abstract Submitted==

methods, systems, and apparatus, including computer programs encoded on computer-storage media, for, e.g., generating a private cryptographic key and public cryptographic key as a cryptographic key pair; storing the private cryptographic key and the public cryptographic key in a trusted execution environment (tee); generating a smart contract configured to: identify a triggering event comprising a request to perform a service comprising generating digital currency; prior to performing the service, verify conditions for performing the service; and in response to verifying the conditions for performing the service, generating the digital currency; generating a hash value representing the smart contract using the private cryptographic key; transmitting the hash value representing the smart contract to a privacy computing platform; and transmitting the public cryptographic key to the privacy computing platform configured to decrypt the hash value representing the smart contract.



[[Category:G06Q20/06]]
[[Category:G06N20/00]]
[[Category:H04L9/14]]
[[Category:CPC_G06Q20/065]]