US 12,033,120 B1
Systems and methods for private network issuance of digital currency
Nikolai Stroke, Gilbert, CA (US); and Duc M. Trinh, Golden Valley, MN (US)
Assigned to Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed by Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed on Apr. 12, 2022, as Appl. No. 17/718,974.
Int. Cl. G06Q 20/00 (2012.01); G06Q 20/06 (2012.01)
CPC G06Q 20/0658 (2013.01) 18 Claims
OG exemplary drawing
 
1. A method of micro-allocating digital currency, the method comprising:
registering, by a processing circuit comprising a processor and memory, a device with a private network utilizing one or more security protocols to limit access based on one or more requirements, wherein the device is associated with a digital wallet application, and wherein registering the device comprises pre-authorizing withdrawals of digital currency from a source address corresponding to the digital wallet application;
pre-authorizing, by the processing circuit, a third-party digital wallet application to receive real-time off-chain exchanges from the digital wallet application based on one or more usages of the registered device, wherein the real-time off-chain exchanges maintains anonymity of exchangers corresponding with the source address and a third-party digital wallet address, wherein pre-authorizing comprises establishing a private network connection between the third-party digital wallet application and the processing circuit;
detecting, by the processing circuit from the registered device via the private network, activity data corresponding to the one or more usages of a good or service using the registered device, wherein detecting comprises real-time metering of the one or more usages of the good or service;
monitoring, by the processing circuit, a data feed with the registered device, the data feed established via an application programming interface (API), wherein monitoring comprises executing API calls with the API, wherein the API calls return the activity data;
determining, by the processing circuit, an incremental denomination of digital currency for an off-chain exchange between the third-party digital wallet application and the digital wallet application based on a conversion table corresponding to the one or more usages of the good or service using the registered device, wherein the off-chain exchange occurs outside a public, on-chain blockchain and is agnostic of network load on the public, on-chain blockchain;
establishing, by the processing circuit via the private network, a private network connection between the digital wallet application and the processing circuit;
accessing and identifying, by the processing circuit via the private network, at least one digital currency token greater or equal to the incremental denomination stored in a secure element of a user device comprising the digital wallet application; and
in response to the real-time metering, micro-allocating a payment in the incremental denomination to pre-authorized third-party digital wallet application based on issuing, by the processing circuit, a digital currency token based on a rule dataset and the at least one digital currency token, wherein issuing comprises:
signing, by the processing circuit, the digital currency token using a private key of a public and private key pair based on assessing the secure element of the user device via the private network, and
assigning, via the private network, the incremental denomination to the third-party digital wallet address of the third-party digital wallet application.