US 11,989,713 B2
System, method and device for processing a transaction
Charles Christian Bedford, Yonkers, NY (US)
Filed by Charles Christian Bedford, Yonkers, NY (US)
Filed on Nov. 2, 2021, as Appl. No. 17/517,645.
Application 17/517,645 is a continuation in part of application No. 15/736,772, granted, now 11,216,776, previously published as PCT/ZA2016/000016, filed on Jun. 23, 2016.
Claims priority of application No. 2015/04635 (ZA), filed on Jun. 26, 2015.
Prior Publication US 2022/0058610 A1, Feb. 24, 2022
Prior Publication US 2024/0095705 A9, Mar. 21, 2024
Int. Cl. G06Q 20/20 (2012.01); G06Q 10/087 (2023.01); G06Q 20/38 (2012.01); G06Q 20/40 (2012.01)
CPC G06Q 20/203 (2013.01) [G06Q 10/087 (2013.01); G06Q 20/38215 (2013.01); G06Q 20/4014 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A method for recording an asset transfer, the asset transfer including a transfer of a physical asset from a first user of a supplier device to a second user of a recipient device, the method comprising:
pairing the supplier device to the recipient device by using a short-range communications protocol;
performing a check to determine whether an uninterrupted chain of ownership of the physical asset exists by determining whether a respective transfer record can be identified for each and every transfer of the physical asset that has taken place during at least a portion of a life of the physical asset;
generating an authentication record that is associated with the asset transfer, the authentication record including an indication of whether the uninterrupted chain of ownership of the physical asset could be confirmed as a result of performing the check; and
recording, by the supplier device, the asset transfer in a blockchain system, the asset transfer being recorded by transmitting a recordation request to the blockchain system, the recordation request including the authentication record, the recordation request being transmitted only when the supplier device and the recipient device have been paired, using the short-range communications protocol, within a predetermined period of time before the transmitting of the recordation request,
wherein recording the asset transfer in the blockchain system includes associating a new transfer record that corresponds to the asset transfer, and which is stored in a ledger of the blockchain system, with an instance of the authentication record that is stored in the ledger of the blockchain system,
wherein the authentication record is transmitted to the blockchain system to supplement any authentication mechanisms that are built into the blockchain system.