	US 11,783,417 B1
	Systems for redeeming shares in an entity holding digital math-based assets
Cameron Howard Winklevoss, New York, NY (US); Tyler Howard Winklevoss, New York, NY (US); Evan Louis Greebel, Scarsdale, NY (US); Kathleen Hill Moriarty, New York, NY (US); and Gregory Elias Xethalis, New York, NY (US)
Assigned to Gemini IP, LLC, New York, NY (US)
Filed by Gemini IP, LLC, New York, NY (US)
Filed on Mar. 15, 2021, as Appl. No. 17/201,223.
Application 17/201,223 is a continuation of application No. 15/938,785, filed on Mar. 28, 2018, granted, now 10,984,470.
Application 15/938,785 is a continuation of application No. 15/847,155, filed on Dec. 19, 2017, granted, now 9,965,805, issued on May 8, 2018.
Application 15/847,155 is a continuation of application No. 14/318,475, filed on Jun. 27, 2014, granted, now 9,898,782, issued on Feb. 20, 2018.
Application 14/318,475 is a continuation of application No. 14/318,456, filed on Jun. 27, 2014, granted, now 9,892,460, issued on Feb. 13, 2018.
Claims priority of provisional application 61/989,047, filed on May 6, 2014.
Claims priority of provisional application 61/986,685, filed on Apr. 30, 2014.
Claims priority of provisional application 61/978,724, filed on Apr. 11, 2014.
Claims priority of provisional application 61/971,981, filed on Mar. 28, 2014.
Claims priority of provisional application 61/955,017, filed on Mar. 18, 2014.
Claims priority of provisional application 61/933,428, filed on Jan. 30, 2014.
Claims priority of provisional application 61/920,534, filed on Dec. 24, 2013.
Claims priority of provisional application 61/903,245, filed on Nov. 12, 2013.
Claims priority of provisional application 61/900,191, filed on Nov. 5, 2013.
Claims priority of provisional application 61/891,294, filed on Oct. 15, 2013.
Claims priority of provisional application 61/857,691, filed on Jul. 23, 2013.
Claims priority of provisional application 61/857,141, filed on Jul. 22, 2013.
Claims priority of provisional application 61/856,323, filed on Jul. 19, 2013.
Claims priority of provisional application 61/841,760, filed on Jul. 1, 2013.
Claims priority of provisional application 61/841,177, filed on Jun. 28, 2013.
Int. Cl. G06Q 40/04 (2012.01)

CPC G06Q 40/04 (2013.01)

22 Claims

1. A first networked computer system comprising:

(1) one or more processors; and

(2) non-transitory computer-readable memory operatively connected to the one or more processors, the non-transitory computer-readable memory having stored thereon machine-readable instructions that, when executed by the one or more processors, cause the one or more processors to perform a method comprising:

(a) receiving, via an Internet, by the first networked computer system operably connected as a node of a decentralized digital asset network comprising a plurality of physically remote computer systems maintaining a decentralized electronic ledger in a form of a blockchain associated with a first digital asset, from a first user device associated with a first user, a first electronic request to redeem a first quantity of units;

(b) determining, by the first networked computer system operably connected as the node of the decentralized digital asset network, unit information including a second quantity of the first digital asset based on a predetermined ratio of the first digital asset to a unit of the units;

(c) verifying, at the first networked computer system operably connected as the node of the decentralized digital asset network, receipt of the first quantity of units;

(d) determining, by the first networked computer system operably connected as the node of the decentralized digital asset network, a third quantity of digital math-based assets based on the unit information and the first quantity of units;

(e) obtaining, by the first networked computer system operably connected as the node of the decentralized digital asset network, one or more destination digital asset account identifiers that provide access through the decentralized digital asset network to one or more destination digital asset accounts for receipt of a transfer of the third quantity of digital math-based assets;

(f) obtaining, by the first networked computer system operably connected as the node of the decentralized digital asset network, one or more origin digital asset account identifiers that provide access through the decentralized digital asset network to one or more origin digital asset accounts for the transfer of the third quantity of digital math-based assets;

(g) generating, by the first networked computer system operably connected as the node of the decentralized digital asset network, transfer instructions configured to cause the first networked computer system to initiate the transfer of the third quantity of the digital math-based assets, wherein generating the transfer instructions includes generating code configured to be utilized by other nodes of the decentralized digital asset network to facilitate the transfer of the third quantity of the digital math-based assets;

(h) initiating, utilizing the transfer instructions and by the first networked computer system operably connected as the node of the decentralized digital asset network, the transfer of the third quantity of digital math-based assets from the one or more origin digital asset accounts as accessed through the decentralized digital asset network using the one or more origin digital asset account identifiers to the one or more destination digital asset accounts as accessed through the decentralized digital asset network using the one or more destination digital asset account identifiers;

(i) broadcasting, by the first networked computer system operably connected as the node of the decentralized digital asset network, occurrence of the transfer of the third quantity of digital math-based assets to the decentralized electronic ledger, the broadcasting causing other nodes of the decentralized digital asset network to receive an indicator of the occurrence of the transfer and to update the decentralized electronic ledger automatically as maintained on the other nodes of the decentralized digital asset network;

(j) a verifying, by the first networked computer system using the decentralized electronic ledger, a receipt of the third quantity of digital math-based assets at the one or more destination digital asset accounts; and

(k) canceling or causing to be canceled, by the first networked computer system operably connected as the node of the decentralized digital asset network, the first quantity of units.