US 11,704,733 B2
Crypto multiple security asset creation and redemption platform
Alec Wilkins, Salt Lake City, UT (US); Robert Christensen, Sandy, UT (US); John Wesley Welborn, Arlington, VA (US); John Tabacco, Jersey City, NJ (US); and Glen Nickle, Logan, UT (US)
Assigned to tZERO IP, LLC, Salt Lake City, UT (US)
Filed by tZERO IP, LLC, Salt Lake City, UT (US)
Filed on Dec. 30, 2016, as Appl. No. 15/396,030.
Application 15/396,030 is a continuation in part of application No. 15/141,582, filed on Apr. 28, 2016.
Claims priority of provisional application 62/273,848, filed on Dec. 31, 2015.
Claims priority of provisional application 62/246,713, filed on Oct. 27, 2015.
Claims priority of provisional application 62/156,027, filed on May 1, 2015.
Prior Publication US 2017/0109744 A1, Apr. 20, 2017
Int. Cl. G06Q 40/04 (2012.01); H04L 9/14 (2006.01); H04L 9/30 (2006.01); H04L 9/32 (2006.01); H04L 9/06 (2006.01); H04L 9/00 (2022.01)
CPC G06Q 40/04 (2013.01) [H04L 9/0637 (2013.01); H04L 9/14 (2013.01); H04L 9/30 (2013.01); H04L 9/3236 (2013.01); H04L 9/3247 (2013.01); G06Q 2220/00 (2013.01); H04L 9/50 (2022.05); H04L 2209/56 (2013.01)] 17 Claims
OG exemplary drawing
 
1. A computer implemented cryptographic asset trading system comprising:
a processor; and
a memory communicatively coupled to the processor, the memory storing computer readable instructions that when executed by the processor causes the processor to:
receive a creation request (i) including a digital signature of a first cryptographic key associated with a first account and (ii) including a composition of at least one share of a fund, the composition of the at least one share of the fund including a respective quantity of each of a plurality of different assets in the at least one share of the fund;
in response to receiving the creation request:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into an escrow account associated with the computer implemented cryptographic asset trading system as collateral for a digital fund token serving as a digital representation of the fund;
create and transfer the digital fund token to the first account (i) by cryptographically signing with a second cryptographic key associated with the computer implemented cryptographic asset trading system and (ii) based on the respective quantity of each of the plurality of different assets, the digital fund token including the composition of the at least one share of the fund, the composition of the at least one share of the fund including the respective quantity of each of the plurality of different assets in the at least one share of the fund represented by the digital fund token; and
record the creation and transfer of the digital fund token to the first account on a distributed ledger thereby requiring cryptographic signing with the first cryptographic key associated with the first account to: (i) redeem the digital fund token from the first account or (ii) transfer the digital fund token from the first account to a second account;
receive a redemption request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the redemption request:
release the plurality of different assets represented by the at least one share of the fund from the escrow account;
destroy the digital fund token; and
record the destruction of the digital fund token on the distributed ledger.