Network system and method for transferring cryptocurrencies between a user account and a receiving account

Patent metadata

Field	Value
Publication number	US-11295302-B2
Application number	US-201514971115-A
Country	US
Kind code	B2
Filing date	Dec 16, 2015
Priority date	Dec 17, 2014
Publication date	Apr 5, 2022
Grant date	Apr 5, 2022

Abstract

A user computing device generates a token while the user computing device is in an offline mode and not connected to an external network. The token includes information of an amount of cryptocurrency to be transferred from a user account to a receiving account and information of a first password for enabling the transfer. The token is signed by the user computing device with a private key while in the offline mode and the signed token is stored by the user computing device on a portable device. A receiving device receiving the signed token from the portable user storage device, authenticates a user corresponding to the user account based on the signed token, receives a second password, compares the first and second passwords for enabling the transfer, and transfers the amount of cryptocurrency from the user account to the receiving account based on the information included in the token.

First claim

The invention claimed is:

1. A method, comprising:
receiving, by an offline user computing device using a portable device or using another storage device, while the offline user computing device is in an offline mode, an input, the input comprising information of an amount of blockchain cryptocurrency on a user account, where the input is based on information received by a user of the offline user computing device from a server;
wherein the offline mode comprises the offline user computing device not being connected to an external network;
receiving, by the offline user computing device, a phrase;
generating, by the offline user computing device while the offline user computing device is in the offline mode, a first password as a hash value of the phrase;
generating, by the offline user computing device while the offline user computing device is in the offline mode, a token, the token comprising information of an amount of blockchain cryptocurrency transferring from the user account to a receiving account, a change amount that is to be transferred to either an address of the user or another address of the user, and information of the first password;
signing, by the offline user computing device while the offline user computing device is in the offline mode, the token with a private key;
storing, by the offline user computing device, the signed token on the portable device, the portable device being different from the offline user computing device;
connecting, by a receiving device, to the portable device;
receiving, by the receiving device, the signed token from the portable device;
authenticating, by the receiving device, the user of the offline user computing device based on the signed token;
receiving, as input to the receiving device, a second password;
comparing, by the receiving device, the first password from the token to the second password; and
initiating a transfer, by the receiving device, of the amount of blockchain cryptocurrency indicated by the token from the user account to the receiving account, in response to the receiving device authenticating the user, and the first password being identical to the second password.

2. The method of claim 1 , wherein the portable device on which the signed token is stored comprises one of a mobile phone, a flash memory, a USB flash drive, or a SD memory card.

3. The method of claim 1 , wherein the storing is performed using a connection comprising one of a direct physical connection or a wireless connection.

4. The method of claim 1 , wherein the offline user computing device and the portable device are physically separated entities.

5. The method of claim 1 , wherein the private key is associated with a public address of the user.

6. The method of claim 1 , wherein the private key is stored in the offline user computing device at a point when the offline user computing device is in the offline mode.

7. The method of claim 1 , wherein the first password is a one-time password associated with the transfer of the amount of blockchain cryptocurrency from the user account to the receiving account.

8. The method of claim 5 , wherein the private key is not known or made public to any external device.

9. The method of claim 1 , further comprising signing, by the offline user computing device, the token with the private key with an input comprising:
a reference to a transaction from where the address of the user acquired the blockchain cryptocurrency.

10. The method of claim 1 , further comprising signing, by the offline user computing device, the token with the private key with outputs comprising:
the amount of blockchain cryptocurrency; and
the change amount, that is to be transferred to either the address of the user or the another address of the user.

11. The method of claim 1 , further comprising signing, by the offline user computing device, the token with the private key with authorization information comprising:
a part that authenticates the user to the receiving device at a time where the transferring takes place at a location of the receiving device.

12. The method of claim 1 , further comprising obtaining, by the user, the information of the amount of blockchain cryptocurrency on the user account and/or an amount of blockchain cryptocurrency transferring to the user account using a public internet access point to connect to the server having the information.

13. The method of claim 12 , further comprising:
inputting, by the user to the offline user computing device by hand, the information of the amount of blockchain cryptocurrency on the user account and/or the amount of blockchain cryptocurrency transferring to the user account.

14. The method of claim 13 , further comprising receiving, by the offline user computing device, the information of the amount of blockchain cryptocurrency on the user account and/or the amount of blockchain cryptocurrency transferring to the user account without a connection between the offline user computing device and the server.

15. The method of claim 1 , where generating the token further comprises comparing, by the offline user computing device when generating the token, an amount of blockchain cryptocurrency transferring to the user account to the amount of cryptocurrency transferring from the user account to the receiving account, to ensure that the amount of cryptocurrency transferring from the user account to the receiving account will be available on the user account.

16. The method of claim 1 , wherein transactions associated with the blockchain cryptocurrency, including the transfer, are registered in a distributed timestamp server, and are uniquely defined by a SHA256d hash.

17. A method, comprising:
receiving, by an offline user computing device using a portable device or using another storage device, while the offline user computing device is in an offline mode, an input, the input comprising information of an amount of blockchain cryptocurrency on a user account, where the input is based on cryptocurrency information received by a user of the offline user computing device from a server;
wherein the offline mode comprises the offline user computing device not being connected to an external network;
receiving, by the offline user computing device, a phrase; generating, by the offline user computing device while the offline user computing device is in the offline mode, a first password as a hash value of the phrase;
generating, by the offline user computing device while the offline user computing device is in the offline mode, a token, the token comprising information of an amount of blockchain cryptocurrency to be transferred from the user account to a receiving account, a change amount that is to be transferred to either an address of the user or another address of the user, and information of the first password;
signing, by the offline user computing device while the offline user computing device is in the offline mode, the token with a private key;
storing, by the offline user computing device, the signed token on the portable device, the portable device being different from the offline user computing device;
connecting, by a receiving device, to the portable device; receiving, by the receiving device, the signed token from the portable device;
authenticating, by the receiving device, the user of the offline user computing device based on the signed token;
receiving, as input to the receiving device, a second password;
comparing, by the receiving device, the first password from the token to the second password; and
initiating a transfer, by the r

Assignees

• IBM

Inventors

• Androulaki Elli
• Kind Andreas
• Koltsidas Ioannis

Classifications

• H04L2209/56

  Financial cryptography, e.g. electronic payment or e-cash · CPC title

• H04L9/3247

  involving digital signatures · CPC title

• H04L9/3234

  involving additional secure or trusted devices, e.g. TPM, smartcard, USB or software token (network architectures or network communication protocols for supporting authentication of entities using an additional device in a packet data network H04L63/0853) · CPC title

• H04L63/0823

  using certificates (cryptographic mechanisms or cryptographic arrangements for entity authentication involving certificates H04L9/3263) · CPC title

• H04L9/3226

  using a predetermined code, e.g. password, passphrase or PIN (network architectures or network communication protocols for supporting authentication of entities using passwords in a packet data network H04L63/083) · CPC title