Unknown Organization (20240346487). TOKENIZED ASSET BACKED BY GOVERNMENT BONDS AND IDENTITY AND RISK SCORING OF ASSOCIATED TOKEN TRANSACTIONS simplified abstract

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TOKENIZED ASSET BACKED BY GOVERNMENT BONDS AND IDENTITY AND RISK SCORING OF ASSOCIATED TOKEN TRANSACTIONS

Organization Name

Unknown Organization

Inventor(s)

Miles Paschini of San Diego CA (US)

Nitin Agarwal of Hyderabad (IN)

TOKENIZED ASSET BACKED BY GOVERNMENT BONDS AND IDENTITY AND RISK SCORING OF ASSOCIATED TOKEN TRANSACTIONS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240346487 titled 'TOKENIZED ASSET BACKED BY GOVERNMENT BONDS AND IDENTITY AND RISK SCORING OF ASSOCIATED TOKEN TRANSACTIONS

The abstract describes a method for facilitating the exchange of a stable cryptocurrency collateralized by government-issued debt.

  • First granularity parameters are received through a first wallet interface of a first digital wallet.
  • A first restricted use key is generated based on the first granularity parameters and provided to the owner of a second digital wallet.
  • A second restricted use key is generated based on second granularity parameters received through a second wallet interface associated with the second digital wallet.
  • Information from a blockchain wallet is accessed using the second restricted use key, relating to the classification and risk score of the second wallet owner at a level of detail determined by the second granularity parameters.
  • An indication to proceed with a transaction between the first and second digital wallets may then be received through the first wallet interface.

Potential Applications: - Facilitating secure and efficient transactions involving stable cryptocurrencies. - Providing a method for collateralizing cryptocurrencies with government-issued debt. - Enhancing the security and transparency of blockchain transactions.

Problems Solved: - Ensuring the stability and reliability of a cryptocurrency through collateralization. - Improving the verification and risk assessment processes in blockchain transactions.

Benefits: - Increased security and transparency in cryptocurrency transactions. - Enhanced trust and reliability in stable cryptocurrencies. - Streamlined processes for verifying user information and risk assessment.

Commercial Applications: Title: Secure Cryptocurrency Exchange System This technology could be utilized in financial institutions, government agencies, and cryptocurrency exchanges to facilitate secure and efficient transactions involving stable cryptocurrencies. It could also be integrated into existing blockchain platforms to enhance the security and transparency of transactions.

Questions about the technology: 1. How does the method ensure the security of transactions involving stable cryptocurrencies? - The method utilizes restricted use keys and granularity parameters to enhance security and transparency in transactions.

2. What are the potential implications of collateralizing cryptocurrencies with government-issued debt? - Collateralizing cryptocurrencies with government-issued debt could provide stability and reliability to the cryptocurrency market, attracting more investors and users.


Original Abstract Submitted

a method for facilitating the exchange of a stable cryptocurrency collateralized by government-issued debt. first granularity parameters are received through a first wallet interface of a first digital wallet. a first restricted use key is generated based upon the first granularity parameters and provided to an owner of a second digital wallet. a second restricted use key is generated based upon second granularity parameters received through a second wallet interface associated with the second digital wallet. information from a blockchain wallet is accessed using the second restricted use key wherein the information relates to one or more of an id classification and risk score of the second wallet owner at a level of detail determined by the second granularity parameters. an indication to proceed with a transaction between the first digital wallet and the second digital wallet may then be received through the first wallet interface.

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