US 11,816,661 B2
Centralized digital currency transactions utilizing a digital wallet
Mukundan Sundararajan, Bangalore (IN); and Siddharth K. Saraya, Raniganj (IN)
Assigned to International Business Machines Corporation, Armonk, NY (US)
Filed by INTERNATIONAL BUSINESS MACHINES CORPORATION, Armonk, NY (US)
Filed on Mar. 17, 2021, as Appl. No. 17/204,130.
Prior Publication US 2022/0300949 A1, Sep. 22, 2022
Int. Cl. G06Q 20/36 (2012.01); G06Q 20/38 (2012.01); G06Q 20/06 (2012.01); G06Q 20/32 (2012.01)
CPC G06Q 20/3672 (2013.01) [G06Q 20/0655 (2013.01); G06Q 20/3278 (2013.01); G06Q 20/3674 (2013.01); G06Q 20/3676 (2013.01); G06Q 20/3827 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A method for managing digital currency, the method comprising:
initializing a digital wallet on a mobile device of a user, wherein the digital wallet includes a digital wallet identifier concurrently utilized for an active period of the digital wallet, wherein the active period is determined by the user and approved by a fund source;
receiving a plurality of digital currencies, wherein the plurality of digital currencies are received in one or more denominations selected by a user from a plurality of denominations specific to a corresponding stable currency, wherein each of the one or more denominations received are earmarked with a currency identifier enabling transactions to be performed asynchronously, and wherein at least two of the plurality of digital currencies are pegged to different corresponding stable currencies and the one or more denominations are specific to the at least two different corresponding stable currencies;
performing two or more transactions using the plurality of digital currencies, wherein at least two of the two or more transactions are performed in the different corresponding stable currencies, wherein each of the two or more transactions has a hash value and encrypted information recorded on a local ledger maintained on the digital wallet of the user;
broadcasting the local ledger to a shared ledger maintained by the fund source when the mobile device of the user establishes a network connection;
decrypting the encrypted information for each of the two or more transactions;
recording, to the shared ledger, the hash value and decrypted information of each of the two or more transactions maintained on the local ledger; and
synchronizing the digital wallet with the fund source by releasing a value held in suspense based on a total value in a native currency of the user of a portion of the plurality of digital currencies remaining on the digital wallet.