Note: Descriptions are shown in the official language in which they were submitted.
A SYSTEM AND METHOD USING BLOCKCHAIN AND DIGITAL IDENTITY TOKENS
TO DELIVER DIGITAL AND REAL-WORLD ASSETS BOUND WITH VALIDATED
IDENTITY, FINANCIAL CREDENTIALS, AND BIOMETRICS
CLAIM OF PRIORITY UNDER 35 U.S.C. 119
This application is a continuation-in-part of both application no. 16,391,259
filed on April
22, 2019, and application no. 16,218,385 filed on Dec. 12, 2018, the contents
of which
are incorporated by reference herein in their entireties. The applicant claims
full priority
based on the parent applications.
FIELD OF THE INVENTION
This patent application relates to electronic transactions involving
cryptographic tokens,
such as tokens used in commercial reward and incentive programs. Further, the
present
invention involves methods and systems for providing the secure identity of
transaction
participants and transferable assets and items of value, exploiting techniques
such as
blockchain, cryptography, distributed ledgers, and cryptocurrencies.
BACKGROUND OF THE INVENTION
Cryptocurrencies are digital currencies in which encryption techniques are
used to
regulate the generation of units of currency and verify the transfer of funds,
operating
independently of a central bank. However, customers, businesses, enterprises,
etc.,
today exploit a number of different reward programs to incentivize loyalty to
a brand,
retailer, service provider, etc. Cryptocurrencies do not provide such rewards.
Accordingly, it would be beneficial to provide users of cryptocurrencies with
mechanisms
of acquiring, transferring, and using cryptographic rewards. Such mechanisms
require the
secure identification of users.
It would be further beneficial for users to acquire, transfer and use other
types of assets
and items of value using cryptographic means.
SUMMARY OF THE INVENTION
It is an object of the present invention to mitigate limitations in the prior
art relating to
reward and incentive programs. More particularly, to achieve methods and
systems for
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providing secure transferable rewards and incentives, exploiting techniques
such as
blockchain, cryptography, and cryptocurrencies. Such methods and systems would
provide transferrable, tradeable, and variable value rewards and incentives.
It is another object of the present invention to attain methods and systems
for providing
secure transferable assets, benefits, rights, value, obligations, and
limitations, etc., of
various kinds. Examples are currency, real estate, gold, works of art,
collectibles, tickets
to events, lottery tickets, rewards points, gift cards, pre-prepaid card
values, e-coupons,
carbon credits, electronic signatures, processing power, data storage space,
and any
asset that an individual can own.
In accordance with an embodiment of the invention, there is provided a method
comprising storing a transaction employing a Digital Identity Token within an
immutable
digital ledger.
In accordance with another embodiment of the invention, there is provided a
method
comprising:
performing a transaction between an individual and at least one of a retailer
and a
service provider;
establishing a reward in dependence upon the transaction;
providing to a digital store associated with the individual the reward in a
digital
cryptographic currency; and
posting to an immutable digital ledger, an addition to the ledger relating to
the
transaction.
In accordance with another embodiment of the invention, there is provided an
entry within
a distributed immutable ledger, comprising:
a first portion encrypted with a first encryption key identifying another
entry in the
distributed immutable ledger;
a second portion encrypted with a second encryption key identifying an owner
of
the entry within the distributed immutable ledger; and
a third portion encrypted with a third encryption key defining a value
associated
with the entry, wherein the value relates to a cryptographic currency.
In accordance with another embodiment of the invention, there is provided a
virtual token
relating to a cryptographic currency, wherein:
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the token has associated within it an attribute not related to a value of the
token;
and
the attribute comprises at least one of a characteristic of a plurality of
characteristics, a benefit of a plurality of benefits, a right of a plurality
of rights, an
obligation of a plurality of obligations, and a limitation of a plurality of
limitations.
In accordance with another embodiment of the invention, there is provided a
method
comprising storing a transaction employing a token within one or more digital
immutable
ledgers.
In accordance with another embodiment of the invention, there is provided a
method
comprising:
storing a transaction employing a token within one or more digital immutable
ledgers, wherein
an individual engages in a transaction to purchase goods or services from a
third
party that is at least one of a retail vendor, wholesale vendor, retail
merchandiser,
wholesale merchandiser, retail service provider, and wholesale service
provider;
and
upon the individual and the third party agrees that the terms of exchange of
the
transaction have been satisfied, one or more records of the transaction is
prepared
to contain at least one of:
identity information associated with the individual;
identity information associated with the third party;
a description of the goods or services obtained by the individual;
a description of the remuneration offered the third party by the individual;
a description of the method of payment involved in delivering that
remuneration; and
a reward amount to be delivered in the form of a virtual currency
represented by a cryptographic token by the third party to the individual.
In accordance with other embodiments of the invention, there are provided at
least three
methods as follows.
In one method, the creation and storage of a digital identity token are
effected. The
token does not include an additional payload representing an item of value.
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In another method, the creation and storage of a digital identity token is
effected,
wherein the token includes a representation of an item of value in addition to
an Identity
component.
In another method, the transfer of a digital identity token from a current
owner to a new
owner is effected, wherein the token includes a representation of an item of
value.
Other aspects and features of the present invention will become apparent to
those
ordinarily skilled in the art upon review of the following description of
specific
embodiments of the invention in conjunction with the accompanying figures.
BRIEF DESCRIPTION OF THE DRAWINGS
Embodiments of the present invention will now be described, by way of example
only,
with reference to the attached Figures, wherein:
Figure 1 depicts a network environment supporting embodiments of the
invention;
Figure 2 depicts an electronic device together with an associated network
supporting
embodiments of the invention;
Figure 3 depicts an exemplary transaction flow relating to rewards and
incentives
according to an embodiment of the invention;
Figure 4 depicts an exemplary transaction flow relating to a digital economy
exploiting
rewards and incentives according to an embodiment of the invention;
Figure 5 depicts an exemplary reward and incentive program between a customer
and a
vendor/service provider, exploiting rewards and incentives according to
embodiments of
the invention;
Figure 6 schematically depicts a digital identity token according to
embodiments of the
invention;
Figure 7 schematically depicts two different types of servers of an
administrator of a token
management system, according to two embodiments of the invention;
Figure 8 schematically depicts network connectivity of major participants of
an exemplary
token management system according to the invention; and
Figure 9 schematically depicts the capability for split ownership of a digital
identity token
according to embodiments of the invention.
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DETAILED DESCRIPTION
The present description is in one aspect directed to reward and incentive
programs, and
more particularly to methods and systems for providing secure transferable
rewards and
incentives exploiting techniques such as blockchain, cryptography, and
cryptocurrencies,
to provide transferable, tradeable, and variable value rewards and incentives.
The ensuing description provides representative embodiments only and is not
intended
to limit the scope, applicability, or configuration of the disclosure. Rather,
the ensuing
description of the embodiments will provide those skilled in the art with an
enabling
description for implementing an embodiment or embodiments of the present
invention. It
is understood that various changes can be made in the function and arrangement
of
elements without departing from the spirit and scope as set forth in the
appended claims.
Accordingly, an embodiment is an example or implementation of the invention
and not
the sole implementation. Various appearances of "one embodiment," "an
embodiment,"
or "some embodiments" do not necessarily all refer to the same embodiments.
Although
various features of the invention may be described in the context of a single
embodiment,
the features may also be provided separately or in any suitable combination.
Conversely,
although the invention may be described herein in the context of separate
embodiments
for clarity, the invention can also be implemented in a single embodiment or
any
combination of embodiments.
Reference in the specification to "one embodiment," "an embodiment," "some
embodiments," or "other embodiments" means that a particular feature,
structure, or
characteristic described in connection with the embodiments is included in at
least one
embodiment, but not necessarily all embodiments, of the invention. The
phraseology and
terminology employed herein are not to be construed as limiting but is for
descriptive
purpose only. It is to be understood that where the claims or specification
refer to "a" or
"an" element, such reference is not to be construed as there being only one of
that
element. It is to be understood that where the specification states that a
component
feature, structure, or characteristic "may," "might," "can," or "could" be
included, that
particular component, feature, structure, or characteristic is not required to
be included.
Reference to terms such as "left," "right," "top," "bottom," "front," and
"back" are intended
for use with respect to the orientation of the particular feature, structure,
or element within
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the figures depicting embodiments of the invention. It would be evident that
such
directional terminology with respect to the actual use of a device has no
specific meaning
as the device can be employed in a multiplicity of orientations by the user or
users.
Reference to the terms "including," "comprising," "consisting" and grammatical
variants
thereof do not preclude the addition of one or more components, features,
steps, integers
or groups thereof; and the terms are not to be construed as specifying
components,
features, steps or integers. Likewise, the phrase "consisting essentially of"
and
grammatical variants thereof, when used herein, is not to be construed as
excluding
additional components, steps, features, integers, or groups thereof; rather,
the additional
features, integers, steps, components, or groups thereof do not materially
alter the basic
and novel characteristics of the claimed composition, device or method. If the
specification or claims refer to "an additional" element, that does not
preclude there being
more than one of the additional elements.
A "portable electronic device" (PED), as used herein and throughout this
disclosure, refers
to a wireless device used for communications and other applications that
requires a
battery or other independent form of energy for power. This includes, but is
not limited to,
devices such as a cellular telephone, smartphone, personal digital assistant
(PDA),
portable computer, pager, portable multimedia player, portable gaming console,
laptop
computer, tablet computer, wearable device, and electronic reader.
A "fixed electronic device" (FED), as used herein and throughout this
disclosure, refers to
a wireless and/or wired device used for communications and other applications
that
requires connection to a fixed interface to obtain power. This includes, but
is not limited
to, a laptop computer, personal computer, computer server, kiosk, gaming
console, digital
set-top box, analog set-top box, internet-enabled appliance, internet-enabled
television,
and multimedia player.
A "server" as used herein and throughout this disclosure refers to one or more
physical
computers co-located and/or geographically distributed and running one or more
services
as a host to users of other computers, PEDs, FEDs, etc. to serve the client
needs of these
other users. This includes, but is not limited to, a database server, file
server, mail server,
print server, web server, gaming server, and virtual environment server.
An "application" (commonly referred to as an "app") as used herein may refer
to but is not
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limited to, a "software application," an element of a "software suite," a
computer program
designed to allow an individual to perform an activity, a computer program
designed to
allow an electronic device to perform an activity, and a computer program
designed to
communicate with local and/or remote electronic devices. An application thus
differs from
an operating system (which runs a computer), a utility (which performs
maintenance or
general-purpose chores), and a programming tool (with which computer programs
are
created). Generally, within the following description with respect to
embodiments of the
invention, an application is generally presented in respect of software
permanently and/or
temporarily installed upon a PED and/or FED.
A "social network" or "social networking service" as used herein may refer to,
but is not
limited to, a platform to build social networks or social relations among
people who may,
for example, share interests, activities, backgrounds, or real-life
connections. This
includes, but is not limited to, social networks such as the U.S. based
services Facebook,
Google+, Tumblr, and Twitter; as well as Nexopia, Badoo, Bebo, VKontakte,
Delphi, Hi5,
Hyves, iWiW, Nasza-Klasa, Soup, Glocals, Skyrock, The Sphere, StudiVZ, Tagged,
Tuenti, XING, Orkut, Mxit, Cyworld, Mixi, renren, weibo, and Wretch.
"Social media" or "social media services" as used herein may refer to, but is
not limited
to, a means of interaction among people in which they create, share, and/or
exchange
information and ideas in virtual communities and networks. This includes, but
is not limited
to, social media services relating to magazines, internet forums, weblogs,
social blogs,
microblogging, wikis, social networks, podcasts, photographs or pictures,
video, rating,
and social bookmarking, as well as those exploiting blogging, picture-sharing,
video logs,
wall-posting, music-sharing, crowdsourcing and voice over IP, to name a few.
Social
media services may be classified, for example, as collaborative projects (for
example,
VVikipedia); blogs and microblogs (for example, TwitterTm); content
communities (for
example, YouTube and DailyMotion); social networking sites (for example,
FacebookTm);
virtual game-worlds (e.g., World of WarcraftTm); and virtual social worlds
(e.g., Second
Life TM ).
An "enterprise" as used herein may refer to but is not limited to a provider
of a service
and/or a product to a user, customer, or consumer. This includes, but is not
limited to, a
retail outlet, a store, a market, an online marketplace, a manufacturer, an
online retailer,
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a charity, a utility, and a service provider. Such enterprises may be directly
owned and
controlled by a company or may be owned and operated by a franchisee under the
direction and management of a franchiser.
A "service provider" as used herein may refer to, but is not limited to, a
third-party provider
of a service and/or a product to an enterprise and/or individual and/or group
of individuals
and/or a device comprising a microprocessor. This includes, but is not limited
to, a retail
outlet, a store, a market, an online marketplace, a manufacturer, an online
retailer, a
utility, an own-brand provider, and a service provider, wherein the service
and/or product
is at least one of marketed, sold, offered, and distributed by the enterprise
solely or in
addition to the service provider.
A "third-party" or "third-party provider" as used herein may refer to, but is
not limited to, a
so-called "arm's length" provider of a service and/or a product to an
enterprise and/or
individual and/or group of individuals and/or a device comprising a
microprocessor,
wherein the consumer and/or customer engages the third party, but the actual
service
and/or product that they are interested in and/or purchase and/or receive is
provided
through an enterprise and/or service provider.
A "user" as used herein may refer to but is not limited to an individual or
group of
individuals. This includes but is not limited to private individuals,
employees of
organizations and/or enterprises, members of community organizations, members
of
charity organizations, men and women. In its broadest sense, the user may
further
include, but not be limited to, software systems, mechanical systems, robotic
systems,
android systems, etc., that may be characterized by an ability to exploit one
or more
embodiments of the invention. A user may be associated with biometric data,
which may
be, but is not limited to, monitored, acquired, stored, transmitted,
processed, and
analysed either locally or remotely to the user. A user may also be associated
through
one or more accounts and/or profiles with one or more of a service provider,
third party
provider, enterprise, social network, social media, etc. via a dashboard, web
service,
website, software plug-in, software application, and/or graphical user
interface.
"User Information" as used herein may refer to, but is not limited to, user
behavior
information and/or user profile information. It may also include a user's
biometric
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information, an estimation of the user's biometric information, or a
projection/prediction of
a user's biometric information derived from current and/or historical
biometric information.
A "wearable device" or "wearable sensor" relates to miniature electronic
devices that are
worn by the user, including those under, within, with, or on top of clothing,
and are part of
a broader general class of wearable technology, including "wearable computers"
which in
contrast are directed to general or special purpose information technologies
and media
development. Such wearable devices and/or wearable sensors may include, but
not be
limited to, smartphones, smart watches, e-textiles, smart shirts, activity
trackers, smart
glasses, environmental sensors, medical sensors, biological sensors,
physiological
sensors, chemical sensors, ambient environment sensors, position sensors,
neurological
sensors, drug delivery systems, medical testing and diagnosis devices, and
motion
sensors. The wearable devices and/or wearable sensors may include, but not be
limited
to, devices that can stimulate and/or measure parameters that are designed to
fit on or
near the perineum, anal area, vagina, clitoral area, and nipples.
"Quantified self' as used herein may refer to, but is not limited to, the
acquisition and
storage of data relating to a user's daily life in terms of inputs (e.g., food
consumed, quality
of surrounding air), states (e.g., mood, arousal, blood oxygen levels), and
performance
(mental and physical). Acquisition of data may be through wearable sensors
(EEG, ECG,
video, etc.) and wearable computing together with audio, visual, audiovisual,
and text-
based content generated by the user.
"Biometric" information as used herein may refer to, but is not limited to,
data relating to
a user characterized by data relating to a subset of conditions including, but
not limited
to, their environment, medical condition, biological condition, physiological
condition,
chemical condition, ambient environment condition, position condition,
neurological
condition, drug condition, and one or more specific aspects of one or more of
these said
conditions. Accordingly, such biometric information may include, but not be
limited to,
blood oxygenation, blood pressure, blood flow rate, heart rate, temperature,
fluidic pH,
viscosity, particulate content, solids content, altitude, vibration, motion,
perspiration, EEG,
ECG, energy level, etc. In addition, biometric information may include data
relating to
physiological characteristics related to the shape and/or condition of the
body, wherein
examples may include but are not limited to fingerprint, facial geometry,
baldness, DNA,
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hand geometry, odour, retinal patterns, iris patterns, eye vein patterns, and
scent.
Biometric information may also include data relating to behavioral
characteristics,
including but not limited to typing rhythm, gait, and voice.
"Electronic content" (also referred to as "content" or "digital content") as
used herein may
refer to, but is not limited to, any type of content that exists in the form
of digital data as
stored, transmitted, received, and/or converted, wherein one or more of these
steps may
be analog although generally, these steps are digital. Forms of digital
content include, but
are not limited to, information that is digitally broadcast, streamed, or
contained in discrete
files. Viewed narrowly, types of digital content include popular media types
such as MP3,
JPG, AVI, TIFF, AAC, TXT, RTF, HTML, XHTML, PDF, XLS, SVG, WMA, MP4, FLV, and
PPT. Within a broader approach, digital content may include any type of
digital
information, e.g., a digitally updated weather forecast, a GPS map, an eBook,
a
photograph, a video, a VineTM, a blog posting, a FacebookTM posting, a
TwitterTm tweet,
online TV, etc. The digital content may be any digital data that is at least
one generated,
selected, created, modified, and transmitted in response to a user request;
wherein said
request may be any of a query, a search, a trigger, an alarm, and a message
for example.
A "profile" as used throughout this disclosure refers to a computer and/or
microprocessor
readable data file comprising data relating to settings and/or limits of an
adult device.
Such profiles may be established by a manufacturer/supplier/provider of a
device,
service, etc.; or they may be established by a user through a user interface
for a device,
a service or a PED/FED in communication with a device, another device, a
server or a
service provider, etc.
A "rewards program," "loyalty program," or "incentive program" as used herein
may refer
to, but not be limited to, a structured marketing strategy designed by
merchants,
employers, organizations, users, etc. to encourage customers to continue to
shop at or
use the services of businesses associated with each program. These programs
exist
covering most types of commerce, each one having varying features and rewards
schemes. Such programs may be so-called business-to-consumer (B2C) or business-
to-
business (B2B) and may relate to one or more physical transactions, electronic
transactions, mail orders, physical retailing, online retailing, etc.
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A "blockchain" (originally block chain) as used herein may refer to, but not
be limited to,
a continuously growing list of records, called blocks, which are linked and
secured using
cryptography. Each block typically contains a cryptographic hash of one or
more other
blocks in the chain, a timestamp, and transaction data. By design, a
blockchain is
inherently resistant to modification of the data and provides for an open,
distributed ledger
that can record transactions between two parties efficiently and in a
verifiable and
permanent way. For use as a distributed ledger, a blockchain is typically
managed by a
peer-to-peer network collectively adhering to a protocol for inter-node
communication and
validating new blocks. Once recorded, the data in any given block cannot be
altered
retroactively without the alteration of all subsequent blocks. Blockchains are
secure by
design and exemplify a distributed computing system with high Byzantine fault
tolerance.
Decentralized consensus has therefore been achieved with a blockchain, which
makes
them suitable for the recording of events, medical records, and other records
management activities, such as identity management, financial transaction
processing,
documenting provenance, food traceability, voting, etc. Within embodiments of
the
invention, the cryptographic hash may also include a pointer (and possibly a
hash) of the
address of the next block in the chain.
A "distributed ledger" as used herein may refer to, but not be limited to, a
database that
is consensually shared and synchronized across one or more networks spread
across
multiple sites, institutions, and/or geographies. It allows transactions to
have public
"witnesses," thereby making a cyberattack more difficult. The participant at
each node of
the network can access the recordings shared across that network and can own
an
identical copy of it. Further, any changes or additions made to the ledger are
reflected
and copied to all participants quickly, usually within seconds or minutes.
Underlying a
distributed ledger technology are blockchains.
A "cryptographic currency" (or cryptocurrency) as used herein may refer to,
but not be
limited to, a digital asset designed to work as a medium of exchange that uses
cryptography to secure its transactions, to control the creation of additional
units, and to
verify the transfer of assets. Cryptocurrencies are types of digital
currencies, alternative
currencies, and virtual currencies. Cryptocurrencies use decentralized control
as
opposed to centralized electronic money and central banking systems. The
decentralized
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control of each cryptocurrency works through a blockchain, which is a public
transaction
database, functioning as a distributed ledger.
A "Retro" as used herein may refer to, but not be limited to, a "cryptographic
token" or
"asset-based token" which is issued by a party onto a blockchain or other
digital
immutable ledger for later redemption. They are the digital equivalent to a
physical asset
and are claims on an underlying asset that may be claimed from a specific
issuer.
Transactions relating to the Retro are recorded on the blockchain, and in
order to claim
the underlying asset, the current "owner" sends the token to the issuer, who
then sends
the underlying asset. Alternatively, the Retro is exchanged for another asset,
and the
subsequent transfer to the provider of the other asset is then noted within
the blockchain.
A Retro is, therefore, a cryptocurrency established with respect to a reward
program. A
Retro according to embodiments of the invention has one or attributes attached
to it; each
attribute is at least one of a characteristic, a benefit, a right, an
obligation, and a limitation,
wherein different tokens can have different benefits, rights, obligations, and
limitations
attached to them. For simplicity within this description in respect of
embodiments of the
invention, Retros having different characteristics (including, but not limited
to, corporate
or product brands), benefits, rights, obligations, and limitations are
referred to as being of
different "colours," and any specific colours identified within the
description are merely
examples for ease of reference to the reader. Within embodiments of the
invention, one
or more of these characteristics, benefits, rights, obligations, and
limitations may be fixed
for a Retro once issued to a user (i.e., its colour is fixed), or they may be
variable (i.e., its
colour may change) post-issuance. Within other embodiments of the invention,
one or
more of these characteristics, benefits, rights, obligations, and limitations
may be
undefined at a specific point subsequent to initial issuance, i.e., the Retro
has no colour,
which is commonly referred to as white, and established subsequently, i.e.,
its colour
defined; such as where an issuer issues to a service provider white Retros,
which are
then provided to customers as rewards for example, wherein the service
provider then
defines the colour of the Retro.
"Self-Sovereign Identity" as used herein may refer to, but not be limited to,
an identity
which is created and managed by the individual and enables them to maintain
their digital
identities independent from residence, national electronic identity (eID)
infrastructure, and
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market-dominating service providers. According to Allen (2016, "The Path to
Self-
Sovereign Identities"), a self-sovereign identity can be characterized by the
ten
commandments. These being, existence of the identity of a person independent
of identity
administrators or providers, the person being in control of their digital
identities, the
person having full access to their own data, systems, and algorithms are
transparent,
digital identities are persistent, digital identities being portable, digital
identities being
interoperable, data economy being enforced, and the rights of the person being
protected.
Accordingly, a Retro may, within its cryptographically defined content,
include reference
to its different characteristics, benefits, rights, obligations, and
limitations. In some
embodiments, this may be via a colour model such as CIE XYZ colour space, RGB,
HSV,
HSL, and CMYK, for example, or an alternate identification scheme wherein
vendors
register their colour with a centralized Retro issuing authority together with
its different
characteristics, benefits, rights, obligations, and limitations.
According to embodiments of the invention, a Retro may be a divisible token or
an
indivisible token. For example, within an embodiment of the invention, a Retro
may be
divisible, and the divisible portions are referred to as "Grains." The extent
to which a Retro
is divisible may be set with respect to all Retros, specific Retro tokens,
certain colours of
Retro, etc. For example, a Grain may represent as little as 0.00000001 (10-8)
of a Retro,
and transactions or activities at this level are recordable within the
blockchain or other
distributed ledger. Within another embodiment, the Retro may be only divided
into 100
Grains so that the Retros/Grains resemble dollars and cents to the users.
Referring to Figure 1, there is depicted a network environment within which
embodiments
of the invention may be employed supporting devices, systems, applications,
and
platforms (DSAPs) according to embodiments of the invention. As shown, first
and
second user groups 100A and 100B respectively interface to a
telecommunications
network 100. Within the representative telecommunication architecture, a
remote central
exchange 180 communicates with the remainder of a telecommunication service
provider's network via the network 100, which may include, for example, long-
haul OC-
48/0C-192 backbone elements, an OC-48 wide area network (WAN), a Passive
Optical
Network, and a Wireless Link. The central exchange 180 is connected via the
network
100 to local, regional, and international exchanges (not shown for clarity);
and therein
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through the network 100 to first and second cellular APs 195A and 195B
respectively,
which provide Wi-Fi cells for the first and second user groups 100A and 100B
respectively. Also connected to the network 100 are first and second Wi-Fi
access points
(APs) 110A and 110B, the latter of which being coupled to the network 100 via
a router
105. The second Wi-Fi AP 110B is associated with an Enterprise 160, such as
HSBCTM,
for example, within which other first and second user groups 100A and 100B are
disposed. The second user group 100B within the Enterprise 160 may also be
connected
to the network 100 via wired interfaces including, but not limited to, DSL,
Dial-Up,
DOCSIS, Ethernet, G.hn, ISDN, MoCA, PON, and Power Line Communication (PLC),
which may or may not be routed through a router such as a router 105.
Within the cell associated with the first Wi-Fi AP 110A, the first group of
users 100A may
employ a variety of PEDs including, for example, laptop computer 155, portable
gaming
console 135, tablet computer 140, smartphone 150, cellular telephone 145 as
well as
portable multimedia player 130. Within the cell associated with the second Wi-
Fi AP, 110B
are the second group of users 100B, which may employ a variety of FEDs
including, for
example, gaming console 125, personal computer 115, and wireless/internet-
enabled
television 120 as well as cable modem 105. The first and second cellular APs
195A and
195B respectively provide, for example, cellular GSM (Global System for Mobile
Communications) telephony services, as well as 3G and 4G being evolved
services with
enhanced data transport support. The second cellular AP 195B provides coverage
in the
exemplary embodiment to the first and second user groups 100A and 100B.
Alternatively,
the first and second user groups 100A and 100B may be geographically disparate
and
access the network 100 through multiple APs, not shown for clarity,
distributed
geographically by the network operator or operators. The first cellular AP
195A, as shown,
provides coverage to the first user group 100A and the network 100, which
comprises the
second user group 100B as well as the first user group 100A. Accordingly, the
first and
second user groups 100A and 100B may, according to their particular
communications
interfaces, communicate to the network 100 through one or more wireless
communications standards such as, for example, IEEE 802.11, IEEE 802.15, IEEE
802.16, IEEE 802.20, UMTS, GSM 850, GSM 900, GSM 1800, GSM 1900, GPRS, ITU-
R 5.138, ITU-R 5.150, ITU-R 5.280, and IMT-1000. It would be evident to one
skilled in
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the art that many portable and fixed electronic devices may support multiple
wireless
protocols simultaneously, such that, for example, a user may employ GSM
services such
as telephony and SMS and Wi-Fi/WiMAX data transmission, VOIP, and internet
access.
Accordingly, portable electronic devices within the first user group 100A may
form
associations either through standards such as IEEE 802.15 and Bluetooth or in
an ad hoc
manner.
Also connected to the network 100 are:
= Social Networks (SOCNETS) 165;
= Original Equipment Manufacturer (OEM) 170A, for example, FordTM, AppleTM,
Hewlett-Packard TM , etc.;
= Manufacturer 170B, for example, Procter and GambleTM, PepsiCo, NikeTM,
Anheuser-Busch TM , etc.;
= Retailer 170C, for example, Starbucks TM , WalmartTM, Walgreens TM, Tesco
TM , etc.;
= Online retailer 170D, for example, Amazon TM , Alibaba TM , WishTM, etc.;
= Website 175A, for example, online portals for OEMs 170A, manufacturers
170B,
retailers 170C, service providers 175B, third party service providers 175C,
and
enterprises 175D;
= Service provider 175B, for example, AT&TTm, Verizon TM , DoCoMo TM ,
ComcastTM,
Consolidated Edison TM ,
= Third-party service provider 175C, for example, HSBCTM, JP Morgan
ChaseTM,
Mastercard TM , Visa TM , etc.;
= Enterprise 175D, for example, IBMTm, Adobe Systems TM , SiemensTM, etc.;
and
= First and second servers 190A and 190B, together with others, are not
shown for
clarity.
Accordingly, a user employing one or more DSAPs may interact with such
providers,
enterprises, service providers, retailers, third parties, etc., and other
users. First and
second servers 190A and 190B may host according to embodiments of the
invention
multiple services associated with a provider of adult device systems,
applications, and
platforms (DSAPs); a provider of a SOCNET or Social Media (SOME) exploiting
DSAP
features; a provider of a SOCNET and/or SOME not exploiting DSAP features; a
provider
of services to PEDS and/or FEDS; a provider of one or more aspects of wired
and/or
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wireless communications; an Enterprise 160 exploiting DSAP features; license
databases; content databases; image databases; content libraries; customer
databases;
websites; and software applications for download to or access by FEDs and/or
PEDs
exploiting and/or hosting DSAP features. First and second servers 190A and
190B may
also host, for example, other internet services such as a search engine,
financial services,
third-party applications, and other internet-based services.
Accordingly, a user may exploit a PED and/or FED within an Enterprise 160, for
example,
and access one of the first or second servers 190A and 190B, respectively, to
perform an
operation such as accessing/downloading an application that provides DSAP
features
according to embodiments of the invention; execute an application already
installed
providing DSAP features; execute a web-based application providing DSAP
features; or
access content. Similarly, a user may undertake such actions or others
exploiting
embodiments of the invention exploiting a PED or FED within the first and
second user
groups 100A and 100B respectively via one of the first and second cellular APs
195A and
195B respectively and the first Wi-Fi AP 110A.
Now referring to Figure 2, there is depicted an electronic device 204 and a
network access
point (AP) 206 supporting DSAP features according to embodiments of the
invention. The
electronic device 204 may, for example, be a PED and/or FED and may include
additional
elements above and beyond those described and depicted. Also depicted within
the
electronic device 204 is the protocol architecture as part of a simplified
functional diagram
of a system 200. The system 200 includes the electronic device 204, such as a
smartphone 150 (see Figure 1), the AP 206, such as first Wi-Fi AP 110A (see
Figure 1),
and one or more network devices 207 (only one shown), such as communication
servers,
streaming media servers and routers (for example the first and second servers
190A and
190B respectively - see Figure 1). The network devices 207 may be coupled to
the AP
206 via any combination of networks, wired, wireless, and/or optical
communication links
such as those discussed above in respect of Figure 1, as well as directly as
indicated.
The electronic device 204 includes one or more processors 210 and a memory 212
coupled to the processor(s) 210. The AP 206 includes one or more processors
211 and
a memory 213 coupled to the processor(s) 211. A non-exhaustive list of
examples for any
of the processors 210 and 211 includes a central processing unit (CPU), a
digital signal
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processor (DSP), a reduced instruction set computer (RISC), a complex
instruction set
computer (CISC), and the like. Furthermore, any of the processors 210 and 211
may be
part of application-specific integrated circuits (ASICs) or may be a part of
application-
specific standard products (ASSPs). A non-exhaustive list of examples for
memories 212
and 213 includes any combination of the following: semiconductor devices such
as
registers, latches, ROM, EEPROM, flash memory devices, non-volatile random
access
memory devices (NVRAM), SDRAM, DRAM, double data rate (DDR) memory devices,
SRAM, universal serial bus (USB) removable memory, and the like.
The electronic device 204 may include an audio input element 214, for example,
a
microphone, and an audio output element 216, for example, a speaker, each
coupled to
(any of) the processor(s) 210. The electronic device 204 may include a video
input
element 218, for example, a video camera or camera, and a video output element
220,
for example, an LCD display, each coupled to (any of) the processor(s) 210.
The
electronic device 204 also includes a keyboard 215 and a touchpad 217, which
may, for
example, be a physical keyboard and touchpad, allowing the user to enter
content or
select functions within one or more applications 222. Alternatively, the
keyboard 215 and
touchpad 217 may be predetermined regions of a touch-sensitive element forming
part of
the display within the electronic device 204. The one or more applications 222
are typically
stored in the memory 212 and are executable by (any combination of) the
processor(s)
210. The electronic device 204 also includes an accelerometer 260 providing
three-
dimensional motion input to the processor(s) 210 and a GPS 262, which provides
geographical location information to the processor(s) 210.
The electronic device 204 includes a protocol stack 224, and the AP 206
includes an AP
(communication) stack 225. Within system 200, the protocol stack 224 is shown
as an
IEEE 802.11 protocol stack, but alternatively may exploit other protocol
stacks such as
an Internet Engineering Task Force (IETF) multimedia protocol stack, for
example.
Likewise, AP stack 225 exploits a protocol stack but is not expanded for
clarity. Elements
of the protocol stack 224 and AP stack 225 may be implemented in any
combination of
software, firmware, and/or hardware. The protocol stack 224 includes an IEEE
802.11-
compatible PHY module 226 that is coupled to one or more front end Tx/Rx &
antenna
circuits 228 and an IEEE 802.11-compatible MAC module 230 that is coupled to
an IEEE
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802.2-compatible LLC module 232. The protocol stack 224 includes a network
layer IP
module 234, a transport layer User Datagram Protocol (UDP) module 236, and a
transport
layer Transmission Control Protocol (TCP) module 238. The protocol stack 224
also
includes a session layer Real-Time Transport Protocol (RTP) module 240, a
Session
Announcement Protocol (SAP) module 242, a Session Initiation Protocol (SIP)
module
244, and a Real-Time Streaming Protocol (RTSP) module 246. The protocol stack
224
includes a presentation layer media negotiation module 248, a call control
module 250,
one or more audio codecs 252, and one or more video codecs 254. Applications
222 may
be able to create, maintain and/or terminate communication sessions with any
of the
network devices 207 by way of the AP 206.
Typically, applications 222 may activate any of the SAP, SIP, RTSP, media
negotiation,
and call control modules 242, 244, 246, 248, 250 for that purpose. Typically,
information
may propagate from the SAP, SIP, RTSP, media negotiation, and call control
modules
242, 244, 246, 248, 250 to the PHY module 226 through the TCP module 238, the
IP
module 234, the LLC module 232, and the MAC module 230. It would be apparent
to one
skilled in the art that elements of the electronic device 204 may also be
implemented
within the AP 206; including but not limited to one or more elements of the
protocol stack
224, including, for example, the IEEE 802.11-compatible PHY module 226, the
IEEE
802.11-compatible MAC module 230, and the IEEE 802.2-compatible LLC module
232.
The AP 206 may additionally include a network layer IP module, a transport
layer User
Datagram Protocol (UDP) module, and a transport layer Transmission Control
Protocol
(TCP) module, as well as a session layer Real-Time Transport Protocol (RTP)
module, a
Session Announcement Protocol (SAP) module, a Session Initiation Protocol
(SIP)
module, a Real-Time Streaming Protocol (RTSP) module, a media negotiation
module,
and a call control module. Portable and fixed electronic devices represented
by the
electronic device 204 may include one or more additional wireless or wired
interfaces in
addition to the depicted IEEE 802.11 interface, which may be selected from the
group
comprising IEEE 802.15, IEEE 802.16, IEEE 802.20, UMTS, GSM 850, GSM 900, GSM
1800, GSM 1900, GPRS, ITU-R 5.138, ITU-R 5.150, ITU-R 5.280, IMT-1000, DSL,
Dial-
Up, DOCSIS, Ethernet, G.hn, ISDN, MoCA, PON, and Power Line Communication
(PLC).
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Also depicted is ASsociated DEVice (ASDEV) 270, which is coupled to the
electronic
device 204 through a wireless interface between Antenna 272 and the front end
Tx/Rx &
antenna circuits 228. The electronic device 204 may support, for example, a
national
wireless standard such as GSM, together with one or more local and/or personal
area
wireless protocols such as IEEE 802.11 a/b/g Wi-Fi, IEEE 802.16 WiMAX, and
IEEE
802.15 Bluetooth, for example. The Antenna 272 is connected to Processor 274
and
therein to Memory 276, Drivers 278, and Features 280. Accordingly, the ASDEV
270 may
operate as a standalone device with factory-installed control routines
accessed through
an interface on the ASDEV 270, not shown for clarity, or through an
application in
execution upon the electronic device 204. Subsequently, as described below,
one or more
of these control routines may be modified, amended, deleted, etc., whilst
other new
control routines may be created, acquired, installed, etc.
Accordingly, it would be evident to one skilled in the art that the ASDEV 270
with the
associated electronic device 204 may accordingly download original software
and/or
revisions for a variety of functions supported by the drivers 278 and/or
features 280. In
some embodiments of the invention, the functions may not be implemented within
the
original as sold ASDEV 270 and are only activated through a software/firmware
revision
and/or upgrade either discretely or in combination with a subscription or
subscription
upgrade, for example.
Within the prior art rewards programs, loyalty programs, or incentive programs
are
structured marketing strategies designed by merchants to encourage customers
to
continue to shop at or use the services of businesses associated with each
program.
Examples may include but are not limited to Air MilesTM, DiscoverTM,
StarbucksTM,
HSBCTM, etc. These programs cover most types of commerce, each one having
varying
features and rewards schemes. Historically, in marketing generally and in
retailing more
specifically, a loyalty card, rewards card, points card, advantage card, or
club card was a
plastic or paper card, visually similar to a credit card, debit card, or
digital card, that
identifies the cardholder as a participant in a loyalty program. Such cards
are now
increasingly replaced by software applications (commonly referred to as
"apps") which
are stored and accessed upon a user's PED. Physical cards typically have a
barcode,
magnetic stripe, or radiofrequency identity (RFID) chip that can be easily
scanned,
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although some are chip cards or proximity cards. Small keyring cards (also
known as key
tags), which serve as key fobs, are also employed, bringing convenience in
carrying and
ease of access. Electronic "cards" are typically presented as barcodes upon
the display
of a user's PED, which is then scanned at a Point-of-Sale (PoS) terminal,
although RFID
or near-field communications (NFC) may also be employed.
By presenting such a card, purchasers typically earn the right either to a
discount on the
current purchase or to an allotment of points that they can use for future
purchases or
both. Accordingly, the card is the visible means of implementing a type of
what
economists call a two-part tariff. Application forms for cards usually entail
agreements by
the retailer concerning customer privacy, typically non-disclosure (by the
retailer) of non-
aggregate data about customers. The retailer exploits the aggregate data
internally (and
sometimes externally) as part of its marketing research. Over time the data
can reveal,
for example, a given customer's favorite brand of beer or whether he or she is
a
vegetarian. Where a customer has provided sufficient identifying information,
the loyalty
card may also be used to access such information to expedite verification
during receipt
of cheques or dispensing medical prescription preparations, or for other
membership
privileges (e.g., access to a club lounge in airports, using a frequent-flyer
card, etc.).
Accordingly, a loyalty program provides the customer with a program-specific
virtual
currency, one with unidirectional cash flow, since reward points can be
exchanged for a
good or service but not into cash. Some programs, such as those with
retailers, e.g.,
Starbucks TM, allow the user to acquire this virtual currency through
transactions with the
retailer where the "card" is presented or employed as part of the transaction.
Some
programs such as Air MilesTM allow the user to acquire this virtual currency
through
transactions with multiple retailers, where the "card" is presented or
employed as part of
the transaction, but the redemption is limited to one type of product,
flights. Some service
provider programs, such as HSBCTM, MastercardTM, etc. for example, allow the
user to
acquire this virtual currency through transactions with multiple physical and
online
retailers, provided the transaction exploits a financial instrument of the
service provider,
e.g.õ HSBCTM, MastercardTM. The customer may then redeem the virtual currency
through the service provider in different forms, such as product purchases,
gift card
purchases, cash paid onto their credit card bill, etc.
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These concepts in business-to-customer (B2C) commerce transfer to business-to-
business (B2B) loyalty programs and reward a business for repeat purchases of
goods
and services from a supplier. However, a business may also exploit service
provider
rewards programs such as Air MilesTM, HSBCTM, etc., by exploiting the rewards
associated with using the financial instrument with respect to their business
purchases,
etc. Such concepts may also be extended to employer-to-employee schemes, etc.
However, a common feature to all is that the "virtual currency" of the program
is
redeemable through only the retailer/service provider offering the program or
a set of
retailers offering a common product such as with Air MilesTM. Further, the
rates at which
the owner of the reward program account earns rewards and can spend rewards
are
defined by the retailer, service provider, etc. For example, a consumer may
accumulate
one reward point for a predetermined financial value, e.g., 15 points per $1
spent, and
redeem 1,000 points for $1 so that the effective return to the customer is a
rate of 1.5%;
but the redemption can only be undertaken at the retailer's stores and for a
minimum
10,000 points, for example. Accordingly, many customers find the limits of
such reward
programs a significant restriction. Such limits include restricted options for
redemption,
e.g., fixed rewards established by the retailer, the inability to transfer
rewards to another
individual, the inability to combine rewards between multiple customers to
purchase a
higher value product, and the inability to exploit rewards outside the program
they were
acquired in.
One option to circumvent this is the concept within U.S. Patent Application
Publication
2010/0,250,360 entitled "Trading Platform for the Redemption of Promotional
Currency
from Multiple Loyalty Programs," wherein a trading platform allows a
registered user to
acquire a product offered through another reward program by establishing an
agreement
with another user who is a member of the reward program the registered user
seeks to
acquire from. Accordingly, each user purchases from their program and
exchanges with
the other user. However, this may require the user to redeem substantially
more rewards
"points" than they might wish in order to incentivize the other user to be
part of the "trade."
Further, the user is still restricted to the products/services of each
program. Moreover,
the rewards, points, etc., even within this system, are not transferable from
one owner to
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another. This system still requires that the two parties each exploit their
rewards within
their own program and that they are shipped to the other party.
However, within embodiments of the present invention, one or more rewards
programs
can exploit "tokens," particularly cryptographically defined tokens, which
within the
following description are referred to as "Retros." For example, a Retro may be
defined by
an identity such as "1HieAFgpQdrVLN8GPFMfG8yMcDxDsrXiLN". Within embodiments
of the invention, a Retro has the following attributes:
= A Retro is a cryptographically defined "I Owe You" (abbreviated as IOU,
which
refers to a document or electronic document acknowledging a debt) and is
accordingly an asset;
= A Retro has characteristics, benefits, rights, obligations, and
limitations attached
to it, and different tokens can have different benefits, rights, obligations,
and
limitations attached to them;
= A Retro can deliver increasing or decreasing amounts of value rather than
being
fixed;
= A Retro can deliver fluctuating amounts of value rather than being fixed;
and
= A Retro can exploit the "network effect" for growth.
Within embodiments of the invention, a Retro or token for a reward program is
differentiated from prior art rewards by exploiting a cryptographic token to
store and
record the reward acquired by a customer in a reward program. Accordingly, all
transactions related to Retro cryptocurrency and any/all of its variants
(i.e., "coloured
tokens" as described below) are tracked using "RetroChains," which are asset-
based
chains. Accordingly, the token transactions are recorded on an immutable
digital ledger.
Therefore the immutable digital ledger may include, but not be limited to, a
blockchain, a
collection of asset chains, or a digital immutable ledger data store.
Users store and employ their Retros through a transaction involving a
"RetroWallet,"
which is a digital application providing a representation of the Retros
currently possessed
by a user, a means for the user to acquire Retros, and a means for the user to
spend or
transfer their Retros. Through the RetroWallet, Retro owners can store and
employ their
Retros through transactions that involve Retro rewards in any form (either a
consumer
being given some sort of Retro as a reward, or a consumer spending accrued
Retros to
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pay for a transaction), which accordingly result in the immutable digital
ledger, hereinafter
referred to as "RetroChain," recording the transfer of the Retros. With a
RetroWallet, a
user is always able to monitor their balance(s) of Retros from within the
RetroWallet. As
will become evident within the following description, the user may possess one
or more
"variant forms" of Retros, as Retros may, through the benefits, rights,
obligations, and
limitations attached to them, have different forms. For example, one variant
form may
provide Retros, i.e., tokens, that can only be spent at a specific retailer,
e.g., Starbucks TM
for example; whilst another variant may provide for Retros that can be
acquired from
multiple vendors but are only redeemable for a specific brand of product,
e.g., Coca-
Cola TM , whilst another variant may have no restrictions at all. Accordingly,
the RetroWallet
can display multiple separate balances.
As noted previously, Retros have characteristics, benefits, rights,
obligations, values and
limitations attached to them, and different Retros can have different
characteristics,
benefits, rights, obligations, and limitations attached to them. Amongst these
is the
Retro's value. Within embodiments of the invention, the Retros may be acquired
either at
a fixed value, at a variable value but constant once acquired, or a variable
value that
varies post-acquisition. The fixed value of Retros, as with prior art rewards
programs, may
be acquired by a user based upon the value of the transaction they undertake
with a
retailer, service provider, etc., at a specified rate, e.g., 1%, 1.5%, etc.
Alternatively, a fixed
value reward in Retros may be per transaction, independent of the value of the
transaction.
With respect to the user acquiring Retros at a variable value but constant
once acquired,
this may be implemented with different schemes which may be established by a
retailer,
by an OEM of a product, etc. For example, the value acquired may be tiered or
banded
such that transactions below a certain value are at one rate, between other
values at
other rates, etc.; or it may be calculated within tiers or bands in a similar
manner to income
tax, such that up to a first monetary threshold it is at a first rate, a
residual transaction
value above the first monetary threshold is at a second rate, a residual
transaction value
above a second monetary threshold is at a third rate, etc.
Within another embodiment of the invention, the user may acquire Retros that
have a
variable value that is not constant once acquired. For example, the value of
the Retros
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may be established through a process that defines a variable value to the
Retros. Within
an embodiment of the invention, an OEM or a manufacturer, etc., might
authorize Retros
to be issued that upon redemption have a value scaled by the scaling of the
company's
share price since the Retros were issued. As RetroChain defines the date of
acquisition,
then the process is relatively straightforward. Accordingly, if the company
shares have
doubled, then the Retro value has doubled. However, if the company shares
drop, then
so does the value of the Retro, which may incent those owning Retros within a
company
to seek to ensure its share price increases by purchasing more, and
encouraging friends,
family, etc., to buy from that brand or retailer, etc. Alternatively, within
another
embodiment of the invention, the Retros issued may be traded on an exchange,
and the
overall software solution for the Retro system automatically converts the
current value of
the Retro in any transaction. For example, if a vendor wants to give a Retro
for every $10
spent as a reward for the purchase of a product based on the "nominal" Retro
price being
$1, then the purchaser receives 10 Retros irrespective of the value of the
Retro at that
point in time. Accordingly, as the value of the Retro fluctuates on the
exchange, then so
does the effective value of the reward given, and subsequently, the Retro
software
automatically adjusts the effective monetary value of the Retros based upon
the
adjustment in the pricing of the Retros on the exchange at the point a user
wishes to
"spend" the Retros. Hence, if the user acquires Retros at a point where their
value is the
monetary equivalent of $1, then if at the point they wish to redeem for a
purchase they
are worth $2, then the software performs the necessary transfer of the
appropriate
number of Retros based upon that monetary equivalent. Alternatively, a
retailer may, for
example, provide a Retro reward which is at a fixed value, e.g., $1 for every
$20 spent,
then the Retro software calculates the number of Retros to be given as the
reward for the
purchase of that product at that point in time. So irrespective of whether the
Retro "price"
fluctuates up or down, the purchaser acquires the number of Retros equal to
the cash
reward. Subsequently, the value of the Retros may similarly fluctuate up or
down as they
are traded upon the exchange.
Amongst the different characteristics, benefits, rights, obligations, and
limitations
attached to Retros_is their capability for transferability. That is, Retros
may be transferable
and/or non-transferable. For example, a retailer may dedicate Retros given as
rewards
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as being non-transferable, i.e., usable only at the retailer where such tokens
may be
considered as vendor-specific tokens. Alternatively, a retailer, for example,
may dedicate
Retros given as rewards as transferable and which can therefore be used
anywhere
Retros are used and accepted, including at an exchange.
Also, amongst the different characteristics, benefits, rights, obligations,
and limitations
attached to Retros is a discount. A Retro can be defined to show a discount,
e.g., 10%
off, 20% off, 40% off, etc. Accordingly, when a Retro with a discount
characteristic is used
in a transaction, its value based on the transaction value is calculated, and
a reward is
given based on a vendor-specific percentage of the value of the transaction.
Furthermore, amongst the different characteristics, benefits, rights,
obligations, and
limitations attached to Retros is the aspect of Reward Bonus Premiums (RBPs).
For
example, within some embodiments of the invention, Retros can be employed
within an
instant reward program (IRP) with bonus premiums established on the consumer's
purchasing behavior. An IRP represents a short-term program that rewards
consumers
instantly with small premiums per fixed spending, where these premiums are
part of a
larger set of collectibles. For example, Retros may be issued as part of an
IRP that
promotes specific brands with an extra reward, for example, a labeled bonus
reward.
Such labeled bonus rewards would allow consumers to acquire additional Retros
by
buying a specific promoted brand, which is a non-price promotion tied to the
IRP.
Therefore, consumers can earn Retro rewards in two ways: based on total
spending and
on purchases of promoted brands. The Retro can be programmed by the vendor,
for
example, using software to offer a price discount and a Reward Bonus Premium.
An RBP
with respect to Retros may also be employed as an employee bonus. This
software may
be standalone for Retros, or it may be associated with one or more software
programs
and suites associated with an electronic payment system, financial
institution, original
equipment manufacturer, financial exchange, cryptocurrency exchange, etc.
Within some embodiments of the invention described so far, the Retros are
acquired by
the user through an activity with a retailer, service provider, etc. However,
in other
embodiments of the invention, an OEM, for example, as part of a consumer
reward, may
directly load Retros into a participating RetroWallet owner's wallet. For
example, PepsiCo
could send a Retro to a participating RetroWallet owner allowing the
RetroWallet owner
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to obtain a PepsiTM drink free from a participating vendor. Accordingly, the
Retro is issued
with characteristics, benefits, rights, obligations, and limitations where the
Retro is
effectively "valued" at the price of the PepsiTM drink set by PepsiCo and is
specific to
PepsiCo. Optionally, within another embodiment of the invention, PepsiCo may
provide
the vendor with a vendor-specific Retro in exchange for the PepsiCo-specific
Retro that
they acquired from each user. The vendor can then employ the vendor-specific
Retros as
a reward to its customers so that the vendor is incentivized to partake in the
promotion
PepsiCo offers to customers.
Within embodiments of the invention, a software application, referred to as
RetroPoints
software, permits a RetroWallet owner to view their Retros, examine
transactions on the
RetroWallet owner's RetroChain, etc.
It would be evident that initially, in order to incent customers to the
concept of Retros,
"white" Retros without characteristics, benefits, rights, obligations, and
limitations may
initially be used to purchase specific discounted products for Retros or for
Retros and
another currency. Concurrently, a limited number of "coloured" Retros would be
initially
issued, subject to agreements with commercial entities in place at the time of
initial
release. Subsequently, as Retros become more common, the introduction of
additional
"coloured" Retros would be expected. This approach may also be used by each
vendor
who joins the Retro rewards scheme.
Within other embodiments of the invention:
= Retros may be provided by enterprises for referrals;
= Retros may be provided to RetroWallet owners allowing them to purchase a
free
or discounted ticket for an event;
= Retros may be provided to consumers and employees with RetroWallets for
meeting milestones;
= Retros may be provided to RetroWallet owners as prelaunch offers to drive
traffic
and pique interest;
= Retros may be provided to first time customers; and
= Retros may be provided for customer membership incentives.
Within the overall infrastructure and architecture for Retros, a software
development kit
(SDK) may be established, which allows third parties to sell loyalty and
rewards software
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and points programs that use Retros instead of "points" in their loyalty and
rewards
software.
The Retro token exploits methodologies established with respect to identity
security, a
concept referred to as RetroIdentity or RetrolD. These concepts are presented
within the
following U.S. Patent Applications, which are incorporated herein, in their
entireties, by
reference:
= U.S. Patent Application 15/613,252 entitled "Portable Verifiable
Credentials and
Methods Thereof," filed June 4, 2017;
= U.S. Patent Application 15/613,253 entitled "Verifiable Identity
Attributes and
Credentials for Real-World Financial Transactions," filed June 4, 2017;
= U.S. Patent Application 15/044,055 entitled "Portable Verifiable
Credentials and
Methods Thereof," filed February 15, 2016;
= U.S. Patent Application 14/453,901 entitled "Verification Authority and
Method
Therefor," filed August 7, 2014;
= U.S. Patent Application 14/630,728 entitled "Systems and Methods Relating
to the
Authenticity and Verification of Photographic Identity Documents," filed
February
25, 2015;
= U.S. Patent Application 14/672,884 entitled "Methods and Systems Relating
to
Real World and Virtual World Identities," filed March 30, 2015;
= U.S. Patent Application 14/958,267 entitled "Verifiable Credentials and
Methods
Thereof," filed December 3, 2015; and
= U.S. Patent Application 14/688,918 entitled "Methods and Systems Relating
to
Real-World Document Verification," filed April 16, 2015.
Accordingly, a user can establish a RetrolD, which refers to a third-party
verified identity
or self-sovereign identity, etc., which has been validated back to one or more
government-
issued photographic identities exploiting the techniques and methods described
and
depicted within these patent applications. Accordingly, a user can establish a
RetroWallet
either with or without a RetrolD, but exploiting a RetrolD allows the user to
subsequently
perform transactions where their identity is verifiable. Accordingly, Retros
can also be
associated with the RetrolD if the user wishes. A RetrolD may also be
validated by non-
government identity data stores such as those associated with banks, credit
card
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companies, telecom service providers, postal outlets, municipalities, car
rental agencies,
virtual gaming (government-run and non-government run), etc.
Thus, a Retro token can provide the user with a cryptographically defined
currency
discretely or in combination with securely delivering identity as part of a
transaction.
Equally, in reverse, the RetrolD and its associated infrastructure and
validated identity
allows the user to provide this discretely or in combination with delivery
value. Within
embodiments of the invention described and depicted within the above-
referenced patent
applications, retailers may deploy what is referred to as "Retro360
terminals," which allow
the customer to perform a transaction at the retailer but in a manner wherein
the identity
of the customer with respect to the financial instrument being employed can be
verified
either discretely or in combination with establishing one or more other proofs
such as age
(for age-restricted purchases), residency (for transactions restricted to
residents of
specific states, countries, etc. or only non-residents, etc.), legal
entitlement (to receive
legislated drugs such as narcotics, pharmaceuticals, etc.), etc. Consequently,
where
embodiments of the invention described within the above-referenced patents may
have
been with respect to prior art physical and electronic financial instruments
such as credit
cards, debit cards, credit card applications, debit card applications, and
"tap-and-go" NFC
or RFID based electronic transactions, the Retro and the RetroWallet allow for
the
transactions to exploit one or more cryptocurrencies.
Accordingly, users may exploit the Retro in combination with RetrolD, thereby
providing
the token holder with the ability to use the Retro360 terminal and/or in-store
or online
applications integrated or linked with their RetroWallet for transactions that
require identity
assurance and proof/validation of other aspects of the user such as age,
residency, legal
entitlement, etc.
Accounting of the Retro is handled by the RetrolD distributed ledger known as
a
RetroChain, which tracks all transactions involving Retros. This includes
transactions that
represent presentation and/or verification of identity indicators and rewards,
as well as all
transactions that transfer ownership of Retros from one user to another, e.g.
from one
RetroWallet to another RetroWallet or another electronic cryptographic
currency
store/wallet. For mobile identification, the transfer of rewards is achieved
by transferring
one or more Grains/Retros from one RetroWallet to another. Whilst a
RetroWallet for a
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consumer may be typically anticipated as performing a single transaction at a
time, such
as payment or receipt, a RetroWallet for a vendor may be configured
differently so that
the vendor's RetroWallet can simultaneously receive and transmit with respect
to multiple
transactions concurrently. Alternatively, a vendor may exploit RetroWallets
much like
traditional cash registers such that they are isolated, and each
receives/transmits to
another RetroWallet so that a store may have point-of-sale (POS) specific
RetroWallets
that communicate to a "store" RetroWallet at a higher level, etc. so that a
vendor may
have a hierarchy of RetroWallets.
Within embodiments of the invention, Retros are not mined or minted
continuously within
its economy, in contrast to other cryptographic currency-based economies. In
these
embodiments, a fixed number of tokens (Retros) are created, RetrolD does not
create
additional Retros in the future, and these Retros may be tradeable on one or
more
cryptocurrency exchanges. Alternatively, Retros may be managed in a similar
manner to
a so-called "fiat currency" by a centralized authority, which manages the
number of Retros
overall and wherein the value of the Retro is derived from the relationship
between supply
and demand. A "fiat currency" is known in the prior art as one that is not
backed by a
physical commodity.
As noted above, the Retro, by virtue of comprising information relating to the
holder of the
Retro, is an Identity Vehicle. Every time a RetroWallet is employed either
discretely or in
combination with a Retro360 terminal, for in-store photographic identity
(Photo-ID)
validation, age verification, etc. or to validate or assert one or more
rewards, a Retro
transaction is recorded on the RetroChain Distributed Ledger, e.g., blockchain
ledger
(RetroChain).
Referring to Figure 3, there is depicted a schematic of a Retro enabled
network
(RetroNetwork), an exemplary transaction flows relating to rewards and
incentives
according to an embodiment of the invention. Accordingly, Figure 3 depicts
different
parties who send and receive Retros in various identity transactions defined
within the
RetroNetwork. The parties depicted being:
= Consumer 310 with RetroWallet 315;
= Retrol D or (associated) Partner 320;
= Remote ID Authenticator 330;
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= "Bricks and Mortar" (physical) Vendor or Service Provider 340 with
Retro360
Terminals 345; and
= Online Vendor or Service Provider 350.
Accordingly, different transaction types are possible between these parties,
of which five
are identified in Figure 3 by the first to fifth process arrows 300A to 300E,
respectively.
The transaction types identified by the numbered arrows in the diagram include
the
following:
= First process 300A between the consumer's RetroWallet 315 and a self-
sovereign
identity service, e.g., RetrolD or Partner 320;
= Second process 300B between the consumer's RetroWallet 315 and a remote
identity proofing application hosted by Remote ID Authenticator 330;
= Third process 300C wherein in-person assurance that a Photo-ID holder is
the
person to whom the Photo-ID was lawfully issued is undertaken between the
Bricks
and Mortar Vendor or Service Provider 340 and the self-sovereign identity
service,
e.g., RetrolD or Partner 320;
= Fourth process 300D wherein the Consumer 310 provides via their
RetroWallet
315 one or more portable Photo-ID credentials to the Bricks and Mortar Vendor
or
Service Provider 340; and
= Fifth process 300E wherein the Consumer 310 provides via their
RetroWallet 315
and one or more portable Photo-ID credentials to an online Vendor or Service
Provider 350.
Thus, the Retro can be employed for both identity delivery and financial
transactions. As
indicated in Figure 4, Retros can deliver value throughout a digital
cryptographically
based economy, with the illustration depicting exemplary transaction flows
relating to the
digital cryptographically based economy exploiting rewards and incentives
according to
an embodiment of the invention. Accordingly, there are depicted:
= Consumer 410;
= Vendor/Service Provider 420;
= RetrolD 430;
= Partners and Developers 440; and
= Cryptocurrency Exchange 450.
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Correspondingly, within Figure 4, there are depicted exemplary pathways
between these
parties within the Retro Economy, where the Retro can deliver value
concurrently with
identity. These being:
= First pathways 400A relating to the payment of licensing, subscription,
and
transaction fees;
= Second pathways 400B relating to payments for goods and services;
= Third pathways 400C relating to consumer loyalty rewards programs;
= Fourth pathways 400D relating to Community Developer programs; and
= Fifth pathways 400E relating to buying and selling Retros.
Payment of Subscription and Transaction Fees
Within embodiments of the invention, the RetroWallet is designed to provide
its owner not
only with identity security and control over their personal identifiable
information (PII) but
also with convenience when it comes to interacting with identity (ID)
requestors.
Accordingly, whilst RetrolD is primarily described and depicted with respect
to
applications upon PEDs, an alternative embodiment exploits a FED-based version
of the
RetroWallet available via one or more websites. The PED RetroWallet software
application would be accessible through typical mobile device applications
stores such as
those operated by PED providers, including AppleTM, MicrosoftTM, GoogleTM, and
FitbitTM,
for example.
Within an embodiment of the invention, a user may exploit a free download and
establish
a basic RetroWallet account (Basic Account), use the RetroWallet to acquire
Retros,
make Retro-based purchases, and exploit Retro trading capabilities within the
RetroNetwork. A RetroWallet owner can subsequently or initially subscribe to
an "Elite
Account," allowing them to use the RetroWallet's identification capabilities
through
RetrolD and exploit applications that require identity assurance and
authentication over
the RetroNetwork. Consumer subscription fees associated with the "Elite
Account" can
be payable by the consumer to the operator of RetrolD in Retros.
Within embodiments of the invention, a RetroWallet with an expired
subscription
continues to have the limited functionality of a Basic Account. The
RetroWallet owner is
able to access and manage Retros stored in the RetroWallet application upon
their PED
or FED or exploit a physical-digital wallet (what some refer to as a hard
wallet); and the
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undertaking of the buying and selling of Retros and other cryptocurrencies is
permitted,
for example.
Within certain embodiments of the invention, bricks and mortar vendors and
service
providers that install Retro360 Terminals 345 may pay a subscription fee, and
where
applicable, transaction fees in Retros to the provider of the RetrolD service,
which may
be a country partner of RetrolD, RetrolD itself, or a licensee of RetrolD. A
limit or "cap"
on per-transaction fees may allow participating vendors to better understand
and predict
the costs of participating in the Retro Economy. This is especially important
to vendors in
market segments where margins are small. Within other embodiments of the
invention,
partners may be able to establish their own pricing models. Within embodiments
of the
invention, a small percentage of the revenues garnered by each partner flows
through to
RetrolD, where terms of these payments are set down in the licensing
agreements
executed with each of the partners.
Payments for Goods and Services
Beneficially, vendors exploiting Retros as payment and requiring identity
assurance would
be able to generate a Retro transaction that carries with it the proof that
identity was
established, verified, and accepted. Within embodiments of the invention, in
order to
increase the uptake of vendors to the novel digital cryptocurrency, RetrolD
may issue
incentives to vendors to accept Retros as payment to increase convenience for
RetroWallet owners.
Such transactions may be established, accomplished, performed, etc., with
RetroPay,
Apple Pay, Mastercard Masterpass, Samsung Pay, etc., or other financial
transaction
systems, providers, etc. Optionally, such financial transaction providers may
provide a
small fee or percentage of the transaction to the "wallet" owner, e.g.,
RetroPay or the
vendors may provide a small fee or percentage.
Consumer Loyalty Reward Program
Within embodiments of the invention, a mechanism for supporting the use of
Retros for
identification and purchases is the Consumer Loyalty Reward Program. This
program is
a means for vendors, in both the bricks and mortar physical retailing and the
online
retailing worlds, to encourage consumers to use a self-sovereign identity and
RetroWallet
to complete identity-assured transactions. Accordingly, RetrolD provides
consumers with
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convenience via the electronic RetroWallet, which is superior to the "real
world" process
of having to produce a physical driver's license every time they wish to rent
a hotel room,
open a bank account, purchase a pack of cigarettes or a six-pack of beer, etc.
The user's
identity is digitally secure and provided as part of the transaction. A
Consumer Loyalty
Reward Program through multiple vendors makes the RetroWallet even more
attractive
by giving the consumer a chance to acquire rewards, get Retros, etc., when
conducting
transactions, all within the same process as making the transaction. Today,
even if a user
has an electronic version of their reward card on their smartphone and
exploits an NFC
payment process on their smartphone, the identification of the user's reward
card is a
separate process from that of payment.
Referring to Figure 5, there is depicted an exemplary reward and incentive
program
between a customer and a vendor/service provider exploiting rewards and
incentives
according to embodiments of the invention. Accordingly, there are depicted a
Consumer
410 and a Service Provider 420 wherein three different processes are depicted:
= First process 500A relating to the Consumer 410 shopping with the
Vendor/Service
Provider 420, i.e., undertaking a transaction to purchase a product(s) and/or
service(s);
= Second process 500B relating to the Consumer 410 earning a reward with
the
Vendor/Service Provider 420, i.e., a reward established through their
performing
the first process 500A; and
= Third process 500C relating to the Consumer 410 redeeming the reward with
the
Vendor/Service Provider 420, this being the reward earned for example in the
second process 500B.
Accordingly, the first process, 500A, relates to a RetroWallet owner shopping
at a
participating vendor's location. One or more identity indicators are required
by an ID-
requestor for a transaction that requires an identity check. The requested
information is
delivered by way of the RetroWallet of the Consumer 410, and the I D-requestor
sends a
reward in Retros from their RetroWallet to the RetroWallet of the Consumer
410.
The second process, 500B, relates to the RetroWallet owner earning rewards
from the
vendor for making a purchase. The purchase price may be paid in a fiat
currency or in
Retros if the vendor supports payments in Retros or one or other
cryptocurrencies. Based
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on the value of the purchase, the vendor delivers a pre-defined loyalty
reward, paid in
Retros, to the RetroWallet of the Consumer 410. This may be a fixed quantity
of Retros
or may be a percentage of the sale.
Subsequently, in the third process, 500C, Consumer 410 can redeem Retros to
obtain
select goods or services from participating vendors. The Consumer 410 can use
Retros
to make purchases from a participating vendor, e.g., Vendor/Service Provider
420. These
transactions may or may not themselves require the transfer of identity
indicators,
depending on the nature of the products.
Accordingly, a Consumer Loyalty Reward Program may be designed to promote the
use
of Retros as a loyalty and reward currency. This may be particularly
beneficial where the
vendor requires reliable ID credentials to complete a transaction as they
benefit by having
the assurance of relying upon the consumer's Self-Sovereign Identity.
Consumers are
enticed to participate by the promise of rewards paid in Retros (much like a
"cash-back"
or "points" reward system). Finally, businesses that offer the opportunity to
obtain goods
or services in exchange for Retros can distinguish themselves from competition
that does
not offer a reward program, thus increasing customer base and market share.
In addition to marketing Consumer Loyalty Reward Programs to retail vendors,
where
regulations allow, RetrolD can also be targeted at the producers of goods or
services that
require identity information for legal purchases. Examples of such purchases
may include
but are not limited to alcoholic beverages, tobacco products, pharmaceuticals,
medicinal
narcotics, firearms, and ammunition. Such programs can be thought of in the
same
manner as a "Manufacturer Coupon"
program.
Within embodiments of the invention, Consumer Loyalty Rewards Programs,
whether
based on particular retail establishments or widely-available products, are
designed to
provide vendors and suppliers with a way to reward consumers for using a
RetroWallet
by employing a quantity of Retros that have been specially customized to
restrict their
usage only to their particular reward program. The vendor or supplier has the
ability to re-
convert customized Retros into generic ones, enabling them to manage value
represented by their Consumer Loyalty Rewards Programs.
Within embodiments of the invention, a vendor-based Consumer Loyalty Rewards
Program can be managed by RetrolD, a RetrolD country partner, or a RetrolD
licensee,
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or may be tailored to specific geographic regions, market segments, or
individual vendors.
Such programs can even be customized to determine where the reward Retros come
from. In some applications where sales margins may be too small for a vendor
to support
such a program profitably, the partner may decide to outsource the Retros paid
back to
consumers. The partner may do this to encourage more widespread adoption of
RetroWallets by consumers.
The Retro Economy does not stop with vendors and service providers in the
retail,
educational, medical, and government service sectors, and it is not limited to
RetrolD
partners. Third-party developers may be incentivized to develop new
applications that
operate within the Retro Economy and leverage the power and security of Self-
Sovereign
Identity of the individual consumer.
More comprehensive embodiments of the present invention will now be described
in
detail. These embodiments relate to a hybrid blockchain/mutual distributed
ledger and
utilize digital identity tokens.
Blockcha in
Globalization and population growth increase the pressure to find cost-
effective
solutions to prove individuals' identities and validate their transactions.
The following
embodiments are based on a hybrid blockchain/mutual distributed ledger system
called
CoRChain. CoRChain may also be referred to as the CoR.io blockchain or simply
a
hybrid blockchain token system or a digital identity token management system.
An
administrator oversees the running of the token management system, and in this
description, the administrator is called CoR.io. CoRChain is an immutable
digital ledger;
that is, an unalterable register. CoRChain allows groups of people to
validate, record,
and track transactions, which involve data transmissions across a network of
decentralized smart devices (including smartphones, tablets, and PCs) and
cloud-based
systems. Participants follow a common protocol that allows individuals to add
new
transactions and distribute them using a peer-to-peer architecture. CoRChain
employs
multiorganizational databases with multiple layers of protection against
cyberattacks.
The protection layers include controlled access to cloud-based instances and
an
immutable audit trail. In general, CoRChain is similar to RetroChain as
described above
but is more comprehensive and different in material aspects.
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CoRChain improves upon current blockchain technology to provide a secure and
reliable method of recording transactional information for a variety of uses.
The
individual entries on the blockchain ledger can be any digital record. For
purposes of the
CoR.io digital wallet or e-wallet (CoRWallet), digital assets include identity
documents;
third-party validations of CoR.io digital identity tokens (CoRTokens);
tokenized retail
transactions and receipts; records of financial cards, direct bank
transactions; tokenized
digital reward coupons; tokenized electronic signatures; and CoRTokens
representing
identity and assets. Other assets include validated and identity assured
digital
signatures on the blockchain. Every CoR.io digital identity token resides on
the
blockchain.
CoRChain is cryptographically secured since every transaction in the ledger is
digitally
signed. While ledgers are managed as a service, all transactions are signed
using
relevant keys belonging to the transaction participants. Participants can
access the
blockchain by using their digital keys and biometric authentication. Digital
keys that
decrypt and make use of information on the ledger exist solely in a secure
personal data
storage area (personal data store) in each participant's digital wallet, with
the current
owner of a recorded asset being the only holder of the keys to that asset. A
consumer's
CoRWallet blockchain node is embedded in the consumer's CoRWallet, which
resides
in the consumer's smart device (such as a smartphone). The CoR.io digital
wallets of
retailers, service providers, organizations, and other transaction
participants reside on
their respective computing devices such as servers.
CoR.io cannot access hashed information or raw transaction data held in the
retailer's
transaction server. Instead, this data is distributed on a need-to-know basis
by each
transaction participant to their CoR.io blockchain server and the CoR.io
administrator
server. The CoR.io administrator server is also referred to herein as the
CoRChain
server or the CoR.io cloud server. Transaction confirmation and account
reconciliations
are in real-time because the CoRChain server exposes simple endpoints that
easily
connect to CoRWallet and utilize CoRToken.
CoRChain architecture allows three different modes of asset storage: in a
reader-
accessible format, an encrypted format, and a one-way hash that provides proof
that an
asset holder is the legitimate controller of that asset.
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The ledger is distributed at the level of a digital asset. Most "local copy"
ledgers contain
assets that are important to the individual holding the copy.
At the CoR.io administrator server-side "nodes," CoRChain relies on
unidirectional "air-
gapped" networking hardware to isolate the "ledger of record" from potential
cyber-
attack threats. Communication with this air gap employs one-time-pad
encryption
technology for maximum cyber threat avoidance and high-speed performance. The
hardware currently supports data transfer rates of up to 10 G.B./sec.
Typically, a
CoRChain transaction consists of 128 bytes of data. This equates to a raw
throughput
of 9.76 million transactions per second through a single air-gapped networking
unit.
These rates are easily scalable upward with additional hardware. Contents of
the ledger
are encoded using protocols that exceed SHA256 standards.
Every participant's CoR.io blockchain is concerned only with information of
interest to
that participant. The general concept of CoRChain consensus is not the same as
that
used by public blockchains such as Bitcoin or Ethereum. Each participant's
CoR.io
blockchain contains immutable proof that the identity attributes, transaction
records, and
incentive values continue to exist in the original form. Local copies of the
digital assets
are distributed among all the holders of a CoR.io digital wallet. These copies
contain
assets of interest only to the wallet holder. A multi-phase commit process
ensures that
all updates are completed. The commit process deals with wallets that are
temporarily
offline, and it also negates spoofing via "replay" of cryptographic sequences
between
multiple service/server "nodes."
CoRChain's distributed ledger shares the core value of trust across boundaries
without
putting any single party in charge. CoRChain lets participants in a
transaction achieve
real-time reconciliation of validated, authenticated, and timestamped
transactions
without the cost, aggravation, and risk of relying on intermediaries. CoRChain
provides
meaningful value because it is maintained by the consensus of the commit
process
between multiple nodes controlled by transaction participants, each with
common yet
different interests. It prevents individual participants or small groups from
corrupting or
deleting past transactions. Broadly speaking, CoRChain includes databases
secured
against internet tampering.
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CoRChain and its mutual distributed ledger are designed to fit in the CoR.io e-
wallet on
a smart device, such as a smartphone, of a consumer (wallet owner). The CoR.io
e-
wallet stores hashed validated identity credentials, hashed transactions, and
one or
more hashed CoRTokens. The blockchain embedded on the smart device with the
wallet owner's transactions gives the owner offline access to the data stored
on the
distributed ledger. In addition, it provides an extra layer of security to
keep identity
credentials, personal information, and token-based assets safe and secure.
The third-party and/or government validated credentials reside on the
smartphone or
similar device of a consumer, and the CoRToken resides on the
blockchain/ledger. The
CoR.io cloud server located behind a gateway of the CoR.io cloud acts as a
title office,
transferring assets and recording the ownership of the new asset owner on the
blockchain/ledger. It also stores all transactions conducted on the CoRChain
network.
CoR.io's Mutual Distributed Ledger
Mutual distributed ledgers (MDLs) utilize blockchain technology. MDLs are
unalterable
registers that allow groups of people to validate, record, and track a given
transaction
across a network of decentralized computer systems involved in the
transaction. A
distributed ledger, often known as a blockchain, is a computer data structure.
Blockchains are shared across organizations and individuals participating in a
given
transaction, including CoR.io as the administrator of the token management
system. As
for being distributed, blockchains are inherently multi-locational data
structures. Each
user keeps their copy of the blockchain on their mobile device, thus providing
resilience
and robustness. Blockchains and distributed ledgers are immutable. Once a
transaction
is written, it cannot be erased. Furthermore, because there are multiple
copies of the
ledger, the ledger's integrity can be easily proven.
CoRChain Servers
Reference is made to the above definition of a "server" as used herein and the
general
descriptions of servers accompanying such definition.
In the following description, unless the context indicates otherwise, a
"relying party" is or
includes a website or other entity on the internet that uses an identity
provider to
authenticate a user who wants to log in, which logging in is a grant of access
to
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information or a system. Examples of relying parties are a bricks-and-mortar
retailer, an
online retailer, a government department or agency, an enterprise, an
organization, and
so on.
The CoR.io servers are unique and innovative in two ways, as described below.
Unlike other blockchain technologies, the CoR.io servers located at various
relying
parties do not save all the transactions on the blockchain between relying
parties and
users. Instead, the CoR.io server located at a given relying party's location
only stores
on the blockchain transactions that concern the relying party and all others
involved in
the transaction. For example, a retailer's CoR.io server stores the
transactions involving
a particular purchaser (CoRWallet owner). For each such purchase transaction,
the
CoR.io server also stores all associated transactions involving a financial
institution, a
shipping company, and/or a payment processor, which are also involved in the
transaction.
Each consumer's CoRWallet stores on CoRChain only those transactions that
involve
the consumer-Each retailer's CoR.io server stores on CoRChain only those
transactions that involve the retailer. Similarly, CoR.io servers used by
other entities
involved in transactions store only the part(s) of the transaction involving
the particular
entity. In comparison, the CoR.io administrator and referee servers (see
below) store all
transactions from all parties, including CoRWallet owners involved in all
transactions. In
summary, the CoR.io administrator and referee servers store every transaction
conducted on the CoR.io network.
For example, a CoR.io server used by a relying party, e.g., a retailer
involved in a
transaction, obtains from the retailer's transaction server details of a sale,
including
items purchased, taxes paid, rewards points issued, gift card balances used,
and e-
prepaid cards balances.
The retailer's server sends a copy of the transaction to the purchaser
(CoRWallet
owner). Once the purchaser confirms the transaction on their CoRWallet, a copy
of the
confirmed transaction is sent back to the retailer. Proof of the existence of
the
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transaction is placed on the blockchain, including the blockchain in the
wallet owner's
smart device. Other participants in the transaction receive elements of the
raw
transaction data depending upon their need to satisfy legal and corporate
requirements.
The CoR.io administrator server retains all hashed/encrypted elements of the
transaction on the blockchain, but it does not receive nor store the raw
transaction data.
The transaction in raw data format is retained by the retailer and the
purchaser
(CoRWallet owner). In addition, other entities involved in the transaction are
forwarded
the raw data concerning each entity. Each of these other entities' CoR.io
server
hashes/encrypts the transaction and stores the proof of the existence of the
transaction
data involving the entity on the blockchain, while the entity's transaction
server retains
the raw transaction data.
CoR.io's Electronic Wallet
CorWallet is a digital, blockchain-based electronic wallet that uses an
internally
generated unique two-factor tokenization process. CoRWallet resides in a smart
device
and operates on a CoR.io platform that uses CoRChain blockchain technology. A
smart
device, for example, can be a smartphone, a tablet, a PC, or any device with a
computing system.
A node of CoRChain is embedded in CoRWallet, giving it strong security and its
owner
greater privacy. Upon enrolling in CoRWallet, the owner embeds in CoRWallet
their
self-asserted identity and their photo ID credentials. Typically, this is done
using the
device camera. The information is encrypted and stored in the personal data
store in a
secure element or enclave of the wallet owner's device. The information is
sent to a
CoR.io partner for identity (for example; photo-ID, KYC, and AML)
verification. The
proof of the existence of the identity verification is hashed and stored on
the blockchain,
including the blockchain in the wallet owner's device, for validation by an
entity that the
wallet owner is transacting with. CoR.io does not store any identity or
credential
information, as such information is in possession of the wallet owner who
decides whom
to share it with. Four levels of authentication are available for the wallet
owner to
employ to gain access to the personal data store of their device. These levels
range
from device-only authentication, password-based authentication, passwordless
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authentication, and dual-biometric authentication. Dual-biometric
authentication
combats biometric forgery by using the results of two different biometrics to
authenticate
a CoRWallet owner. CorWallet and its platform offer as a store of value a
programmable
cryptographic token, which can represent points, e-prepaid and e-gift cards,
currency, a
ticket to an event, and so on.
Digital identity tokens
This application relies on US patent application no. 16,391,259 to describe
certain
examples of digital identity token assets and their uses.
CoRToken is designed to augment the growth of great products by building upon
the
network ownership effect. Digital identity tokens are sometimes referred to as
crypto
tokens, utility tokens, security tokens, digital coins, or often simply
"tokens" or "coins."
A digital identity token represents value or rights offered and sold to
facilitate access to,
participation in, or development of a distributed ledger, blockchain, or other
digital data
structure.
People carry out online business and social transactions, and people are known
by their
identities. Therefore, identities are a critical component of online business
and social
interaction.
An individual's identity is defined by a collection of attributes including,
but not limited to,
name, age, address, identity and financial credentials, work history, and
social history.
These attributes work together dynamically to define an individual.
Identity data in today's world is typically decentralized. For example, the
Virginia
Department of Motor Vehicles issues driver's licenses, the U.S. Department of
Homeland Security issues passports, and banks issue banking credentials based
on
third-party validated identities. This makes identity management and identity
verification
cumbersome and costly for enterprises, governments, and retailers.
It takes little more than one click to buy an airline ticket or a new sweater.
Still, it takes
time to buy stocks or get a mortgage because verifying identity is a critical
component of
buying stocks or obtaining a mortgage online or in-person. Whether it is
waiting for
documents or settlement, many types of transactions are not instant. In
addition, assets
like gold, real estate, fine art, or carbon credits are more difficult to
transfer, often
obligating buyers and sellers to contend with mountains of paperwork and
lengthy
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procedures. By representing assets as digital identity tokens on a distributed
ledger or
blockchain, it is possible to unlock the value of real-world assets and
exchange them in
real-time.
Digitization of assets is a process in which the rights to an asset are
converted into a
digital identity token on a blockchain. Ownership rights are transmitted and
transferred
or traded on a digital platform, and real-world and digital assets on the
blockchain are
represented by digital identity tokens.
In an embodiment of the invention, digital identity tokens are created as part
of the
CoR.io platform built on CoRChain. The CoRToken resides on CoRChain, be it
located
on the administrator's computing device or users' mobile devices.
An asset's economic definition is a resource that has an economic value
controlled by
an individual, a legal entity, or a country. The legal definition of an asset
is anything that
has a monetary value attached to it. Ownership right is a legal right to
possession of a
thing, including all usage rights (physical and intellectual).
CoR.io Digital identity token - Properties
1) CoR.io's digital identity tokens are programmable. Programmable means that
they
run on software protocols composed of smart code that outline the features and
functions of the token and the network's rules of engagement.
2) CoRToken can be transferable or non-transferable or have restricted
transferability.
Unique (non-fungible) tokens can be transferable or non-transferable,
depending on the
application. For example, a plane ticket might be transferable or non-
transferable,
depending on the type of ticket purchased. For example, a piece of art, or the
registration paper of your car, is unique but transferable. Identity-bound
tokens like
certificates or licenses are usually non-transferable.
3) Expiration date - Any fungible token might be programmed in a way such that
it
expires after a certain date to prevent hoarding of the tokens. Practically
speaking, the
token would expire. However, technically speaking, the token would change
state.
4) If tokens represent assets, they act as a passive payload managed by a
distributed
ledger, including all properties, rights, and obligations in the system. Asset-
backed
tokens can be (I) fungible or (II) non-fungible. Fungible tokens represent
ownership of
any fungible physical goods like money, silver, petrol, gold, diamonds, shares
in a
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company, or any collateralized debt instrument. They could be compared to
commodity
money and are therefore sometimes referred to as crypto commodities. Asset-
backed
tokens can also be unique and therefore non-fungible. Some refer to them as
crypto
goods. Examples would be real estate tokens, crypto-collectibles, or tokens
that
represent unique pieces of art. Representing such assets with a token makes
the asset
more easily tradable and divisible, thus creating more liquidity for some
assets that
might not have been that easily tradable off-chain. Tokens can also represent
access
rights that are limited in time or in the scope of using an asset someone else
owns or a
service someone else provides. They can provide access to network services, an
entry
ticket to a concert, a public transport ticket, apartment sharing access, car-
sharing
access, a time slot for a doctor's appointment, or membership access to a
club, to name
a few examples. They could be used to allow you to start your car, which might
have a
smart lock, access alcoholic beverages by proving that you are above a certain
age,
board an airplane, enter your home, vote, cross a border, collect a tax
refund, or get a
discount.
5) Fungible Non-Fungible Tokens (F-NFT). Issuers can issue an F-NFT in which
the
financial value of the CoR.io digital identity token is preset into a number
of portions
predetermined at the time of issuance (see Figure 9).
6) Redeemable ¨ The CoR.io token can be redeemable or non-redeemable. Exactly
one digital identity token can be equal to one unit of a good or service that
is delivered
or provided by the issuer of the digital identity token. Redeeming a digital
identity token
for the underlying good or service can cause the digital identity token to be
destroyed.
However, a digital identity token, after re-programming, can also be reused.
7) Divisible ¨ The CoR.io digital identity token is divisible to an unlimited
number of
decimal places. The default is 18 digits, but the digital identity token's
divisibility can be
set to one digit, eighteen digits, and even 0 digits.
8) Fixed Price ¨ In an embodiment of the invention, the CoR.io digital
identity token is
pegged to the value of the currency of the country or bank-issued currency
from where
it was issued. In this embodiment, a CoRWallet owner may hold a CoR.io digital
identity
token with the asset component representing, for example, US $100. Suppose the
CoRWallet owner is in Canada and redeems the digital identity token at an
entity
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located in Canada. In that case, the entity accepting the token for redemption
or for the
purchase of goods or services pays the equivalent of US $100 in Canadian
dollars,
based on the value of the US dollar at the time of redemption. The digital
identity token
works with entities that use the CoR.io network and CoRWallet owners, no
matter
where such entities are geographically located. A change in the value of a
fixed price
digital identity token on the positive or negative side can occur due to
fluctuations in
currency market exchange rates between the time a token owner becomes the
owner of
the digital identity token and the time when the token owner redeems the
digital identity
token. Such change in the value of a fixed price digital identity token is
absorbed by the
token owner, be it a relying party or a CoRWallet owner. The token is issued
by a
relying party such as a retailer and redeemed by the same retailer or a
financial
institution associated with the issuer.
CoR.io Digital identity token Uses
While CoR.io's digital identity token can hold exchangeable assets and value,
it can also
be configured to represent physical assets and digital assets or a particular
utility or
service. For instance, certain crypt tokens represent tangible assets such as
real
estate and art and intangible assets such as processing power and data storage
space.
Tokens can also be used as a governance mechanism for voting on elections and
for
specific parameters like protocol upgrades and other decisions that dictate
the future
direction of various projects.
CoR.io's Electronic Signature
Research shows that paper documents are on their way out, and E-signatures are
replacing wet and digital signatures on e-documents. Wet signatures are ink-
based
signatures, while digital signatures are mathematical schemes for verifying
the
authenticity of individuals and digital messages or documents. An e-Signature
refers to
data in electronic form, which is logically associated with other electronic
data and is
used by an authenticated signatory to sign a document or transaction.
CoRSign advances e-Signatures beyond digital and Advanced e-Signatures by
utilizing
a programmable digital identity token (CoRToken) that resides on CoRWallet's
blockchain (CoRChain) and tokenizes e-Signatures.
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CoR.io's electronic signatures play a significant role in guaranteeing the
integrality,
privacy, and non-repudiation of documents. They also link the validated and
authenticated identity of the signees to the e-Signature and the document.
Proof of the
wallet owner's (user's) identity and proof of the existence of the electronic
signature and
the document to which the electronic signature is attached are stored on the
CoR.io
digital identity token, which resides on CoRChain.
Identity Validation and Verification
This application relies on U.S. patent application no. 16,218,386 for features
relating to
identity and identity credential storage, validation, verification, and
authentication.
Data Diodes and Unidirectional Network
A data diode is a network component device that allows data to flow through
the device
in one direction only. It is named in analogy to the electronic diode circuit
component
that allows current to flow in one direction only.
Data diodes are used to segregate networks. Data diodes are critical
components of the
most secure "cross-domain solutions," where combinations of one-way flow
control and
careful content inspection are used to ensure malware cannot cross the
boundary from
an untrusted to a trusted network.
A unidirectional network (also referred to as a unidirectional gateway or data
diode) is a
network appliance or device that allows data to travel in only one direction.
Data diodes
can be found most commonly in high-security environments, such as defense,
where
they serve as connections between two or more networks of differing security
classifications. Given the rise of industrial loT and digitization, data diode
technology
can now be found at the industrial control level for such facilities as
nuclear power
plants, power generation, and safety-critical systems like railway networks.
Data diodes originally were merely network appliances or devices allowing raw
data to
travel only in one direction. They have been used in guaranteeing information
security
and protection of critical digital systems, such as industrial control
systems, from
inbound cyberattacks. After years of development, data diodes have evolved to
be, for
example, combinations of hardware and software running in proxy computers in
the
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source and destination networks. The hardware enforces physical
unidirectionality, and
the software replicates databases and emulates protocol servers to handle bi-
directional
communication. Data diodes are now capable of transferring multiple protocols
and data
types simultaneously. A typical data diode contains a broader range of
cybersecurity
features like secure boot, certificate management, data integrity, forward
error
correction, and secure communication via Transport Layer Security, among
others. A
unique characteristic is that data is transferred deterministically (to
predetermined
locations) with a protocol "break" that allows the data to be transferred
through the data
diode.
One-Time Pad Encryption
In cryptography, the one-time pad is an encryption technique that cannot be
cracked.
However, the technique requires a single-use pre-shared key that is no smaller
than the
message being sent. In this technique, a plaintext is paired with a random
secret key
(also referred to as a one-time pad). Then, each bit or character of the
plaintext is
encrypted by combining it with the corresponding bit or character from the one-
time pad
using modular addition.
Exemplary embodiments
Referring to Figures 6 and 8, Digital identity tokens 601 reside on CoRChain
as well as
in an individual CorWallet (e-Wallet) of a given Smart Device 800. In general,
each
Digital identity token 601 is typically a holder of assets. Such assets can,
for example,
be identity, identity and financial credentials, rewards points, gift cards,
pre-prepaid card
values, e-coupons, electronic signatures, real estate, artwork, tickets to
events, etc.
Each Digital identity token 601 includes a Token ID 611, an Identity Component
612,
and an optional Payload (Asset Component) 613.
The Token ID 611 can be used to track the history of a particular token on the
blockchain. As the token changes owners, or as it is updated by the current
owner, the
primary portion of the Token ID 611 never changes; only a sequence number
increments with each new posting to the blockchain.
The Identity Component 612 is a hashed representation of the identity of the
owner ¨ an
identity that has been verified by a trusted third party. To prove ownership
of a Digital
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identity token 601, its owner can present the raw identity information and the
name of
the third-party verifier or identity issuer to a requestor. The requestor can
hash these
two pieces of information together and verify that the Identity Component 612
on the
token matches the hash they produce.
The Payload 613 may consist of almost any digital information. It may be
encrypted,
hashed, or stored in original form, depending on the particular application.
The Payload
613 can be a digital document or a digital representation of a title deed to a
physical
asset, for example. Digital identity tokens 601 can be initially created with
parameters
that prohibit any modification to the Payload 613. Alternatively, Digital
identity tokens
601 may permit additions to the original Payload 613 (e.g., multiple e-signers
of a
document) or may permit changes to an asset of the Payload 613 itself (e.g.,
reducing
the currency value of a digital debit card or of rewards points).
In some embodiments, an image is used with the token for display and
additional
encryption processes. The image may, for example, be a fractal or an image of
a
company's prepaid or gift card. The image can also indicate, among other
things, the
issue value of the card or a retained value on the card.
Referring to Figure 7, this schematically depicts two different types of
administrator
servers of a token management system, according to two embodiments of the
invention.
In this description, the administrator is called CoR.io.
In the first type of administrator server, at the server-side "nodes" of
CoR.io, CoRChain
relies on unidirectional "air-gapped" networking hardware to isolate the
"ledger of
record" from potential cyber-attack threats. Communication with this air gap
employs
one-time-pad encryption technology for maximum cyber threat avoidance and high-
speed performance. As illustrated, an Air Gap Server 710 includes an Isolated
Server
711 and a Web Server 712. The Servers 710, 711 are interconnected by a Data
Diode
713 that allows transmission of data from the Web Server 712 to the Isolated
Server
711 and a Data Diode 714 that allows transmission of data from the Isolated
Server 711
to the Web Server 712. The Web Server 712 is connected to a Network 715.
Alternatively, as illustrated, a Non-Isolated Server 720 of CoR.io is
connected to a
Network 725.
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Referring to Figure 8, this schematically depicts network connectivity of
major
participants of an exemplary token management system according to the
invention. The
server-side "nodes" of CoR.io are shown as at least one CoR.io Cloud Gateway
810.
Each CoR.io Cloud Gateway 810 includes a plurality of air gap servers. Two air
gap
servers, 811 and 812, are illustrated. Each air gap server 811, 812 is
independently
connected to the internet 840, having full-mesh connectivity.
In the exemplary token management system, there is also at least one Gateway
Referee 820. Each Gateway Referee 820 includes an air gap server. Two air gap
servers, 821 and 822, are illustrated.
In Figure 8, the Relying Parties 830 each have a server. In the illustration,
there are two
Relying Parties 830 who have Relying Party Servers 831, 832 respectively.
Furthermore, although not illustrated, certain Relying Parties 830 may employ
an air
gap server. Such an air gap server is configured in much the same way as the
Air Gap
Server 710 of Figure 7. The Relying Parties 830 that employ air gap servers
may, for
example, be government departments or agencies or other organizations.
In one embodiment utilizing the token management system, a digital identity
token that
can be used to present specific identity information to a requestor is created
and stored.
An e-Wallet owner wanting to create a digital identity token retrieves the
identity
information desired and identity verifier/issuer information stored in the
secure personal
data store of their Smart Device 800. The owner can be described as an
initiator. The
owner hashes the identity information and identity verifier/issuer
information. Using code
on the Smart Device 800, a unique set of "unlock keys" are also generated by
the owner
and stored in the personal data store. The result of the hash and the unlock
keys are
together referred to herein as "initiator information."
The initiator information is delivered by the initiator via the internet 840
to the Cloud
Gateway 810 operated by the administrator of the token management system. The
Cloud Gateway 810 makes use of "air-gapped" connections to the Air Gap
(secure)
Servers 811, 812 to pass the initiator information along. Taking the Air Gap
Server 811
as an example destination, it records the token on the blockchain. That is,
the token is
stored on the blockchain by the Air Gap Server 811. A copy of the token is
sent via the
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Cloud Gateway 810 and Internet 840 to the initiator at the Smart Device 800
and is
stored on a blockchain in the Smart Device 800.
In another embodiment utilizing the token management system, a digital
identity token
that represents some digital asset in addition to providing proof of identity
and
ownership is created and stored. The process of creation is essentially the
same as the
above-described process of creating a digital identity token that can be used
to present
specific identity information to a requestor. The main difference is that the
information
passed by the Smart Device 800 to the Internet 840 further includes the
Payload 613 of
the Digital identity token 601. This information is included in the created
token that is
stored on the blockchain by the Air Gap Server 811. A copy of the stored token
is sent
to the Smart Device 800.
In another embodiment utilizing the token management system, a current owner
of an
asset-bearing digital identity token transfers ownership of the asset to
another person.
The recipient can either be a Relying Party 830 or an owner of another Smart
Device
800 (not shown). In the following description, it will be assumed that the
recipient is an
owner of another Smart Device 800.
The current owner of the token stored on the current owner's Smart Device 800
sends
an image of the token to the recipient via the Internet 840. The current owner
can be
described as an initiator. In addition, the current owner sends the identity
information
needed to ensure that the initiator of the transaction is the current owner of
the token
and also sends information regarding the third-party verifier or issuer of
that identity.
The recipient can use this information to verify the identity of the
originator in much the
same way as described above. The originator also sends the unlock keys that
the
recipient will need to create a new instance of the token.
Then the recipient hashes the received identity information and the
information
regarding the third-party verifier/issuer in order to verify that the
initiator is the current
owner of the token. The recipient uses code on the recipient's Smart Device
800
together with the unlock keys to generate a set of new unique unlock keys. The
result of
the hash, the original unlock keys, and the new unlock keys are together
referred to
herein as "recipient information."
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Next, the recipient communicates with the Cloud Gateway 810 via the internet
840 by
passing along the recipient information provided (as well as any updates or
changes to
the payload as are appropriate - see below). Also passed along is the
appropriate
identity and identity verification information of the recipient, who is to
become the new
asset owner. As before, all this information is passed to, for example, the
Air Gap
Server 811. The Air Gap Server 811 determines whether the received original
unlock
keys match the unlock keys currently on the blockchain, and determines whether
the
original token is valid and correct. Assuming that both determinations are
"yes," a new
version of the token is created. In the new version of the token, the new
owner's identity
is recorded in the Identity Component 612, the Payload 613 remains unchanged,
and
the original Token ID 611 is maintained. A copy of this new token, together
with an
image of the new token, is passed back to both the initiator and the recipient
and stored
on their local blockchains.
In one particular example of transfer of ownership of an asset-bearing digital
identity
token, when the asset is a document, the transfer of ownership of the digital
identity
token constitutes delivery of an electronically signed signature affixed to
that document.
An alternative embodiment of a current owner of an asset-bearing digital
identity token
transferring ownership of the asset to another person will now be described.
The current owner of the digital identity token stored in a secure data store
on the
current owner's Smart Device 800 (first Smart Device 800) selects the digital
identity
token to be delivered to a recipient. The first Smart Device 800 sends the
first data to a
second Smart Device 800 operated by the recipient. The first data includes
original
identity information used by the current token owner to secure ownership of
the digital
identity token, an indicator of the name and nature of an identity verifier
that digitally
signed verification of the identity of the current token owner, information
describing an
item of value represented in the digital identity token, and a current unlock
key that was
stored in a secure data store on the first Smart Device 800 when the current
token
owner secured ownership of the digital identity token.
The second Smart Device 800 sends second data to the Air Gap Server 811
operated
by an administrator of a token management system, the second data comprising
the
digital identity token.
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The Air Gap Server 811 verifies that the digital identity token supplied in
the second
data is a true representation of a valid digital identity token on a
blockchain of the Air
Gap Server 811. Then the Air Gap Server 811 sends third data to the second
Smart
Device 800, acknowledging the validity of the digital identity token.
The second Smart Device 800 applies a hashing algorithm to a combination of
digital
identity components of the recipient and an indicator of a name and a nature
of an
identity verifier of the recipient. The result of the hash is a new first
portion of the digital
identity token.
The second Smart Device 800 combines the new first portion and an original
second
portion of the digital identity token to form a new digital identity token,
the second
portion being the representation of the item of value contained in the digital
identity
token. Then the second Smart Device 800 uses the new digital identity token to
generate a proposed new token image. The second Smart Device 800 also
calculates a
new, unique unlock key, the possession of which indicates ownership of the new
digital
identity token by the recipient.
The second Smart Device 800 sends the fourth data to the Air Gap Server 811,
the
fourth data including the proposed new token image, the current unlock key,
and the
new unlock key.
The Air Gap Server 811 verifies whether the current unlock key is valid. In
the event that
the current unlock key is verified as valid, the Air Gap Server 811 creates a
new token
image on the blockchain. The new token image includes an identifier of the
digital
identity token and a sequence number indicating that there is a new owner of
the digital
identity token.
The Air Gap Server 811 sends fifth data to the second Smart Device 800,
acknowledging the creation of the new token image on the blockchain.
The second Smart Device 800 sends sixth data to the first Smart Device 800,
the sixth
data including the new token image.
The first Smart Device 800 stores the new token image in the secure datastore
on the
first Smart Device 800.
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The second Smart Device 800 stores the new unlock key and the new token image
in a
secure data store on the second Smart Device 800.
In other embodiments, when ownership of the asset is transferred to another
person,
the transfer may involve only a part or portion of the asset. For example,
only an agreed
proportion of the asset may be transferred. In another example, the new asset
owner
holds ownership of the asset for a limited time only, after which ownership of
the asset
automatically reverts to the previous owner.
As indicated above, for each occurrence of a transaction involving a digital
identity
token, whether such transaction includes issuing of a value, a transfer, or
redemption,
the occurrence is stored only on the blockchain nodes of CoR.io, the gateway
referees,
and the smart devices or servers of the transaction participants.
Referring to Figure 9, this schematically depicts the capability for split
ownership of a
digital identity token 900 according to embodiments of the invention. The
digital identity
token 900 is initially issued by a supplier as a Fungible Non-Fungible Token
(F-NFT)
900. A financial value of the F-NFT 900 is preset into the following portions:
a 50%
portion 901, and five 10% portions 902, 903, 904, 905, and 906. Ownership of
the whole
F-NFT 900 and of any one or combination of the portions 901-906 can be
securely
transferred according to embodiments of the present invention described above.
In one example, one F-NFT 900 is equivalent to one unit of a local fiat
currency used in
a region where the token issuer is physically located. That is, the F-NFT 900
has a fixed
price.
Specific details are given in the above description to provide a thorough
understanding of
the embodiments. However, it is understood that the embodiments may be
practiced
without these specific details. For example, circuits may be shown in block
diagrams in
order not to obscure the embodiments in unnecessary detail. In other
instances, well-
known circuits, processes, algorithms, structures, and techniques may be shown
without
unnecessary detail in order to concentrate on the inventive features.
Implementation of the techniques, blocks, steps, and means described above may
be
done in various ways. For example, these techniques, blocks, steps, and means
may be
implemented in hardware, software, or a combination thereof. For a hardware
implementation, the processing units may be implemented within one or more
application-
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specific integrated circuits (ASICs), digital signal processors (DSPs),
digital signal
processing devices (DSPDs), programmable logic devices (PLDs), field-
programmable
gate arrays (FPGAs), processors, controllers, microcontrollers,
microprocessors, other
electronic units designed to perform the functions described above, and/or a
combination
thereof.
Also, it is noted that the embodiments may be described as a process that is
depicted as
a flowchart, a flow diagram, a data flow diagram, a structure diagram, or a
block diagram.
Although a flowchart may describe the operations as a sequential process, many
of the
operations can be performed in parallel or concurrently. In addition, the
order of the
operations may be rearranged. A process is terminated when its operations are
completed but could have additional steps not included in the figure. A
process may
correspond to a method, a function, a procedure, a subroutine, a subprogram,
etc. When
a process corresponds to a function, its termination corresponds to a return
of the function
to the calling function or the main function.
Furthermore, embodiments may be implemented by hardware, software, scripting
languages, firmware, middleware, microcode, hardware description languages,
and/or
any combination thereof. When implemented in software, firmware, middleware,
scripting
language, and/or microcode, the program code or code segments to perform the
necessary tasks may be stored in a machine-readable medium, such as a storage
medium. A code segment or machine-executable instruction may represent a
procedure,
a function, a subprogram, a program, a routine, a subroutine, a module, a
software
package, a script, a class, or any combination of instructions, data
structures, and/or
program statements. A code segment may be coupled to another code segment or a
hardware circuit by passing and/or receiving information, data, arguments,
parameters,
and/or memory content. Information, arguments, parameters, data, etc., may be
passed,
forwarded, or transmitted via any suitable means, including memory sharing,
message
passing, token passing, network transmission, etc.
For a firmware and/or software implementation, the methodologies may be
implemented
with modules (e.g., procedures, functions, and so on) that perform the
functions described
herein. Any machine-readable medium tangibly embodying instructions may be
used in
implementing the methodologies described herein. For example, software codes
may be
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stored in a memory. Memory may be implemented within the processor or external
to the
processor and may vary in the implementation where the memory is employed in
storing
software codes for subsequent execution and where the memory is employed in
executing the software codes. As used herein, the term "memory" refers to any
type of
long-term, short-term, volatile, nonvolatile, or other storage medium and is
not to be
limited to any particular type of memory or number of memories or type of
media upon
which memory is stored.
Moreover, as disclosed herein, the term "storage medium" may represent one or
more
devices for storing data, including read-only memory (ROM), random access
memory
(RAM), magnetic RAM, core memory, magnetic disk storage mediums, optical
storage
mediums, flash memory devices and/or other machine-readable mediums for
storing
information. The term "machine-readable medium" includes, but is not limited
to, portable
or fixed storage devices, optical storage devices, wireless channels, and/or
various other
mediums capable of storing, containing, or carrying instruction(s) and/or
data.
The methodologies described herein are, in one or more embodiments,
performable by a
machine that includes one or more processors that accept code segments
containing
instructions. For any of the methods described herein, when the instructions
are executed
by the machine, the machine performs the method. Any machine capable of
executing a
set of instructions (sequential or otherwise) that specify actions to be taken
by that
machine are included. Thus, a typical machine may be exemplified by a typical
processing
system that includes one or more processors. Each processor may include one or
more
of a CPU, a graphics processing unit, and a programmable DSP unit. The
processing
system further may include a memory subsystem including main RAM and/or a
static
RAM and/or ROM. A bus subsystem may be included for communicating between the
components. If the processing system requires a display, such a display may be
included,
e.g., a liquid crystal display (LCD). If manual data entry is required, the
processing system
also includes an input device such as one or more of an alphanumeric input
unit including
a keyboard, a pointing control device such as a mouse, and so forth.
The memory includes machine-readable code segments (e.g., software or software
code), including instructions for performing, when executed by the processing
system,
one or more of the methods described herein. The software may reside entirely
in the
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memory or may also reside, completely or at least partially, within the RAM
and/or within
the processor during execution thereof by the computer system. Thus, the
memory and
the processor also constitute a system comprising machine-readable code.
In alternative embodiments, the machine operates as a standalone device or may
be
connected, e.g., networked to other machines, in a networked deployment. The
machine
may operate in the capacity of a server or a client machine in a server-client
network
environment or as a peer machine in a peer-to-peer or distributed network
environment.
The machine may be, for example, a computer, a server, a cluster of servers, a
cluster of
computers, a web appliance, a distributed computing environment, a cloud
computing
environment, or any machine capable of executing a set of instructions
(sequential or
otherwise) that specify actions to be taken by that machine. The term
"machine" may also
be taken to include any collection of machines that individually or jointly
execute a set (or
multiple sets) of instructions to perform any one or more of the methodologies
discussed
herein.
The foregoing disclosure of the exemplary embodiments of the present invention
has
been presented for purposes of illustration and description. It is not
intended to be
exhaustive or to limit the invention to the precise forms disclosed. Many
variations and
modifications of the embodiments described herein will be apparent to one of
ordinary
skill in the art in light of the above disclosure. The scope of the invention
is to be defined
only by the claims appended hereto and by their equivalents.
Further, in describing representative embodiments of the present invention,
the
specification may have presented the method and/or process of the present
invention as
a particular sequence of steps. However, to the extent that the method or
process does
not rely on the particular order of steps set forth herein, the method or
process should not
be limited to the particular sequence of steps described. As one of ordinary
skill in the art
would appreciate, other sequences of steps may be possible. Therefore, the
particular
order of the steps set forth in the specification should not be construed as
limitations on
the claims. In addition, the claims directed to the method and/or process of
the present
invention should not be limited to the performance of their steps in the order
written, and
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one skilled in the art can readily appreciate that the sequences may be varied
and still
remain within the spirit and scope of the present invention.
Inventor: Sal Khan
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