US 12,355,905 B2
Securely processing a contingent action token
Gary W. Grube, Barrington Hills, IL (US)
Assigned to 2BC Innovations, LLC, Barrington, IL (US)
Filed by 2BC Innovations, LLC, Barrington, IL (US)
Filed on May 29, 2023, as Appl. No. 18/203,017.
Claims priority of provisional application 63/414,532, filed on Oct. 9, 2022.
Prior Publication US 2024/0121090 A1, Apr. 11, 2024
Int. Cl. H04L 9/00 (2022.01); G06Q 20/38 (2012.01); G06Q 20/40 (2012.01); G06Q 40/04 (2012.01); G06Q 40/06 (2012.01); G06Q 40/08 (2012.01); H04L 9/08 (2006.01); H04L 9/32 (2006.01)
CPC H04L 9/50 (2022.05) [G06Q 20/389 (2013.01); G06Q 20/401 (2013.01); G06Q 40/04 (2013.01); G06Q 40/06 (2013.01); G06Q 40/08 (2013.01); H04L 9/0825 (2013.01); H04L 9/3213 (2013.01); H04L 9/3234 (2013.01); H04L 9/3247 (2013.01); G06Q 2220/00 (2013.01); H04L 2209/56 (2013.01)] 18 Claims
OG exemplary drawing
 
1. A computer-implemented method of using a computing system, the method comprises:
identifying, by a computing device of the computing system, a contingency-action token (CAT) of an object distributed ledger to produce a selected CAT, wherein the CAT includes one of a non-fungible token (NFT) and another token linked to the NFT by the object distributed ledger when the CAT is not the NFT, wherein the CAT meets minimum CAT requirements that includes:
a recovered cryptographic token value of the CAT matches a calculated cryptographic token value of the CAT,
an obligation provider identifier record of the CAT that includes an original obligation provider identifier of the NFT when the NFT was initially generated, wherein the obligation provider identifier is associated with providing of an obligation tied to an obligation recipient identifier in accordance with obligation requirements, wherein a positive obligation status indicates that the obligation has historically been provided in accordance with the obligation requirements,
an outcome recipient identifier record of the CAT that includes an original outcome recipient identifier of the NFT when the NFT was initially generated, wherein the outcome recipient identifier is associated with a result of a triggered outcome tied to an outcome provider identifier in accordance with contingent outcome rules and the positive obligation status, wherein a contingency status indicates whether the triggered outcome has been triggered for a contingency entity identifier in accordance with the contingent outcome rules, and a utilization status of the CAT that indicates a life insurance investment utilization by a set of investor entities;
determining, by the computing device, reassignment information for the selected CAT, wherein the reassignment information includes a confirmed change of at least one of the obligation provider identifier, the outcome recipient identifier, and the set of investor entities based on the set of investor entities and a new set of investor entities to be affiliated with the selected CAT;
facilitating, by the computing device in accordance with a securely passing process, taking control of the selected CAT of a blockchain of the object distributed ledger;
updating, by the computing device, the selected CAT utilizing the reassignment information for the selected CAT to produce an updated CAT; and
causing, by the computing device in accordance with the securely passing process, generation of a new block affiliated with the updated CAT via the blockchain of the object distributed ledger in accordance with the securely passing process, wherein the new block includes the updated CAT.