US 12,136,073 B1
Systems and methods for math-based currency credit transactions
Ashish B. Kurani, Hillsborough, CA (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 Jul. 8, 2021, as Appl. No. 17/370,908.
Application 17/370,908 is a continuation of application No. 14/282,200, filed on May 20, 2014, granted, now 11,062,278.
Int. Cl. G06Q 20/06 (2012.01); G06Q 20/10 (2012.01); G06Q 20/38 (2012.01); G06Q 20/40 (2012.01)
CPC G06Q 20/0655 (2013.01) [G06Q 20/10 (2013.01); G06Q 20/3829 (2013.01); G06Q 20/401 (2013.01); G06Q 2220/00 (2013.01)] 16 Claims
OG exemplary drawing
 
1. A method of transferring math based currency (“MBC”) at a financial institution, the method comprising:
storing, by an MBC transaction processor of a plurality of processors, a plurality of private and public key pairs in a pooled database;
receiving, by an account balance processor of the of the plurality of processors from a customer computing device of a customer, an MBC transaction request to transfer an amount of MBC to the customer;
transmitting, by the account balance processor, a notification comprising the MBC transaction request to the MBC transaction processor;
identifying, by the MBC transaction processor, MBC and associated addresses in the pooled database;
creating, by the MBC transaction processor, a first private and public key pair associated with a first MBC address, wherein the MBC transaction processor is communicably coupled to the account balance processor;
creating, by the MBC transaction processor, a second private and public key pair associated with a second MBC address;
transferring, by the MBC transaction processor, the amount of MBC from the identified addresses to the first MBC address of the created first private and public key pair;
transferring, by the MBC transaction processor, remaining amount of MBC from the identified addresses to the second MBC address of the created second private and public key pair;
in response to transferring the remaining amount of MBC, storing, by the MBC transaction processor, the second private and public key pair in the pooled database, wherein the pooled database stores the plurality of private and public key pairs including the second private and public key pair, and wherein the pooled database stores a total amount of MBC of the financial institution;
providing, by the account balance processor to the customer computing device, the first MBC address of the first private and public key pair;
broadcasting, by the MBC transaction processor, the transferred amount of MBC to a plurality of MBC verification nodes;
determining, by the MBC transaction processor, a verification status of the transferred amount of MBC based on assessing a blockchain associated with the plurality of MBC verification nodes;
in response to determining the verification status, updating, by the account balance processor, an overlay ledger of an MBC account held by the customer by the amount of MBC transferred, wherein the overlay ledger tracks the association of amounts of MBC including the amount of MBC transferred with each account of the financial institution; and
wherein the association of the amounts of MBC with each account stored in the overlay ledger is dissociated from the total amount of MBC deposits and MBC credits of the financial institution stored in the pooled database.