DETAILED ACTION
Status of the Claims
The present application, filed on or after March 16, 2013, is being examined under the first inventor to file provisions of the AIA . The following is in response to an application dated March 6, 2025. Claims 1-20 are pending. All pending claims are examined.
Continued Examination Under 37 CFR 1.114
This application is a continuation of US Application No. 18140276, filed 04/27/2023 now U.S. Patent No. 122718927, (“Parent Application). See MPEP §201.07. In accordance with MPEP §609.02 A2 and MPEP §2001.06(b) (last paragraph), the Examiner has reviewed and considered the prior art cited in the Parent Application. Also in accordance with MPEP §2001.06(b) (last paragraph), all documents cited or considered ‘of record’ in the Parent Application are now considered cited or ‘of record’ in this application. Additionally, Applicant(s) are reminded that a listing of the information cited or ‘of record’ in the Parent Application need not be resubmitted in this application unless Applicant(s) desire the information to be printed on a patent issuing from this application. See MPEP §609.02 A. 2.
Double Patenting
The nonstatutory double patenting rejection is based on a judicially created doctrine grounded in public policy (a policy reflected in the statute) so as to prevent the unjustified or improper timewise extension of the “right to exclude” granted by a patent and to prevent possible harassment by multiple assignees.
A non-statutory obviousness-type double patenting rejection is appropriate where the conflicting claims are not identical, but at least one examined application claim is not patentably distinct from the reference claim(s) because the examined application claim is either anticipated by, or would have been obvious over, the reference claim(s). See, e.g., In re Berg, 140 F.3d 1428, 46 USPQ2d 1226 (Fed. Cir. 1998); In re Goodman, 11 F.3d 1046, 29 USPQ2d 2010 (Fed. Cir. 1993); In re Longi, 759 F.2d 887, 225 USPQ 645 (Fed. Cir. 1985); In re Van Ornum, 686 F.2d 937, 214 USPQ 761 (CCPA 1982); In re Vogel, 422 F.2d 438, 164 USPQ 619 (CCPA 1970); and In re Thorington, 418 F.2d 528, 163 USPQ 644 (CCPA 1969).
A timely filed terminal disclaimer in compliance with 37 CFR 1.321(c) or 1.321(d) may be used to overcome an actual or provisional rejection based on a non-statutory double patenting ground provided the conflicting application or patent either is shown to be commonly owned with this application, or claims an invention made as a result of activities undertaken within the scope of a joint research agreement.
Effective January 1, 1994, a registered attorney or agent of record may sign a terminal disclaimer. A terminal disclaimer signed by the assignee must fully comply with 37 CFR 3.73(b).
Claims 1-20 of the instant application substantially recites the limitations of claims 1-19 of US Application No. 18140276 now U.S. Patent No. 122718927.
Claims 1-20 are rejected on the ground of non-statutory double patenting over
claims 1-19 of US Application No. 18140276 now U.S. Patent No. 122718927.
This is a non-provisional double patenting rejection since the conflicting claims have issued as a patent. Although the claims at issue are not identical, they are not patentably distinct from each other because the instant claims are directed to secure transaction loan processing.
It is old and well known to verify a user’s identity using KYC parameters based on predefined protocols. Evaluating the identity credentials or existing information of a user in evaluating a loan application minimizes the potential for identify verification compromise.
It would therefore have been obvious to a person of ordinary skill in the art before the filing date of Applicant’s invention to have narrowed the scope of the claims such that the portion of the loan value is factored into the property transaction processing and , thereby making for a seamless process because the burden on the user is further reduced and boosting the chances of completing the process and the user receiving a loan.
The subject matter claimed in the instant application is fully disclosed in the patent and would be covered by the referenced patent since the referenced patent and the instant application are claiming common subject matter, as follows related sections are shown in bold):
Instant Application
Application 18/140,276
1.A system that implements a secured token marketplace on a distributed ledger system, the
system comprising:
an interface that communicates with one or more client systems via a communication network; and
a server comprising a computer processor coupled to the interface and in communication with a distributed ledger system, wherein the distributed ledger system comprises a blockchain system, the computer processor configured to:
receive, via the interface, a first request for a first secured token that represents a
property wherein the property is uniquely identified by a set of property attributes;
based on the set of property attributes, generate a first secured digital token for the
property by encrypting the set of property attributes and further generate a first hash
value using the encrypted set of property attributes;
process a second request for a loan on the property represented by the first secured digital token to generate a loan note for the property wherein the loan note is uniquely identified by a set of loan attributes;
based on the set of loan attributes, generate a second secured digital token for the
loan note by encrypting the set of loan attributes and further generate a second hash value using the encrypted set of loan attributes;
transmit the first secured digital token and the second digital token to the distributed ledger system in an encrypted format that key-value pair that comprises the first and second hash values and a unique key value for each of the first and second hash values;
associate the first secured digital token and the second digital token with a digital wallet that enables one or more transactions to be made on the first secured digital token and the second digital token in a digital marketplace; and fractionalize the second secured token into a remaining value of the loan and an equity value of the property, such that fractionalized portion corresponding to the equity value can be used for transactions in the digital marketplace.
2. The system of claim 1, wherein the digital wallet comprises a financial history for each of
the first secured digital token and the second digital token.
3. The system of claim 1, wherein the property comprises at least one physical asset.
4. The system of claim 1, wherein the set of property attributes comprises a street address,
property type, borrower name, one or more physical characteristics of the property and wherein the set of loan attributes comprises a combination of: loan identifier, note date, note amount, note interest rate, appraisal report, parcel number, product type, loan type, payment frequency, maturity date, lender and servicer identifier.
5. The system of claim 1, wherein the first secured digital token is a first non-fungible token and the second secured digital token is a second non-fungible token.
6. A system that implements a secured token marketplace on a distributed ledger system, the
system comprising:
an interface that communicates with one or more client systems via a communication
network; and a server comprising a computer processor coupled to the interface and in communication
with a distributed ledger system, wherein the distributed ledger system comprises a blockchain system, the computer processor configured to:
receive, via the interface, a first request for a first secured token that represents a
property wherein the property is uniquely identified by a set of property attributes;
based on the set of property attributes, generate a first secured digital token for the
property by encrypting the set of property attributes and further generate a first hash
value using the encrypted set of property attributes;
process a second request for a loan on the property represented by the first
secured digital token to generate a loan note for the property wherein the loan note is
uniquely identified by a set of loan attributes;
based on the set of loan attributes, generate a second secured digital token for the
loan note by encrypting the set of loan attributes and further generate a second hash value
using the encrypted set of loan attributes; and
transmit the first secured digital token and the second digital token to the
distributed ledger system in an encrypted format that comprises a key-value pair
comprising the first and second hash values and a unique key value for each of the first
and second hash values.
7. The system of claim 6, the computer processor further configured to:
process one or more payments made by an external entity against a balance of the
loan;
create, in real-time, a loan transaction and a corresponding general ledger entry following processing of the one or more payments;
create a hash value, separately, for the loan transaction and the general ledger
entry; and add each hash value, along with a unique key value, for the loan transaction and
the general ledger entry to the blockchain system as a key-value pair.
8. The system of claim 7, wherein at least a portion of the one or more payments are made
in a cryptocurrency.
9. The system of claim 7, the computer processor further configured to:
generate an update, in real time, to a flow of monies dashboard based on the one or more
payments.
10. The system of claim 7, the computer processor further configured to:
generate a real-time reconciliation of the loan attributes based on the one or more
payments.
11. The system of claim 7, the computer processor further configured to:
transmit a value of the one or more payments to one or more investors who one all, or
portion, of the loan.
12. The system of claim 6, wherein the property comprises at least one physical asset.
13. The system of claim 6, wherein the set of property attributes comprises a street address,
property type, borrower name, one or more physical characteristics of the property and the set of loan attributes comprises a combination of: loan identifier, note date, note amount, note interest
rate, appraisal report, parcel number, product type, loan type, payment frequency, maturity date,
lender and servicer identifier.
14. The system of claim 6, wherein the first secured digital token is a first non-fungible token and the second secured digital token is a second non-fungible token.
15. A system that implements a secured token marketplace on a distributed ledger system, the
system comprising:
an interface that communicates with one or more client systems via a communication
network; and
a server comprising a computer processor coupled to the interface and in communication
with a distributed ledger system, wherein the distributed ledger system comprises a blockchain system, the computer processor configured to:
receive, via the interface, a first request for a first secured token that represents a
property wherein the property is uniquely identified by a set of property attributes;
based on the set of property attributes, generate a first secured digital token for the
property by encrypting the set of property attributes and further generate a first hash
value using the encrypted set of property attributes; and transmit the first secured digital token to the distributed ledger system in an
encrypted format that comprises a key-value pair comprising the first hash value and a
first unique key value.
16. The system of claim 15, the computer processor further configured to:
process a second request for a loan on the property represented by the first
secured digital token to generate a loan note for the property wherein the loan note is
uniquely identified by a set of loan attributes;
based on the set of loan attributes, generate a second secured digital token for the
loan note by encrypting the set of loan attributes and further generate a second hash value
using the encrypted set of loan attributes; and
transmit the second digital token to the distributed ledger system in an encrypted
format that comprises a second key-value pair comprising the second hash value and a
second unique key value.
17. The system of claim 16, further comprising:
applying a smart contract to the first and second requests, wherein the smart contract is
configured to automate rules and validations prior to adding the requests to the blockchain
system.
18. The system of claim 16, wherein the property comprises at least one physical asset.
19. The system of claim 16, wherein the set of property attributes comprises a street address,
property type, borrower name, one or more physical characteristics of the property and the set of loan attributes comprises a combination of: loan identifier, note date, note amount, note interest rate, appraisal report, parcel number, product type, loan type, payment frequency, maturity date, lender and servicer identifier.
20. The system of claim 16, wherein the first secured digital token is a first non-fungible
token and the second secured digital token is a second non-fungible token.
1. (Currently Amended) A system that implements a secured token marketplace on a distributed ledger system, the system comprising:
an interface that communicates with one or more client systems via a communication network; and
receive, via the interface, a request for a first secured token that represents a property wherein the property is uniquely identified by a set of property attributes;
based on the set of property attributes, generate a first secured digital token for the property by encrypting the set of property attributes and further generate a first hash value using the encrypted set of property attributes;
a server comprising a computer processor coupled to the interface and in communication with a distributed ledger system, wherein the distributed ledger system comprises a blockchain system, the computer processor further configured to:
based on the set of loan attributes, generate a second secured digital token for the loan note by encrypting the set of loan attributes and further generate a second hash value using the encrypted set of loan attributes;
process a request for a loan on the property represented by the first secured digital token to generate a loan note for the property wherein the loan note is uniquely identified by a set of loan attributes;
associate the first secured digital token and the second digital token to a borrower of the loan;
transmit the first secured digital token and the second digital token to the distributed ledger system in an encrypted format that comprises the first and second hash values and a unique key value; and
associate the first secured digital token and the second digital token with a digital wallet that enables one or more transactions to be made on the first secured digital token and the second digital token in a digital marketplace.
2. (Original) The system of claim 1, wherein the property comprises at least one residential real estate.
3. (Original) The system of claim 1, wherein the property comprises at least one physical asset.
4. (Original) The system of claim 1, wherein the set of property attributes comprises a street address, property type, borrower name, one or more physical characteristics of the property.
5. (Original) The system of claim 1, wherein the set of loan attributes comprises a combination of: loan identifier, note date, note amount, note interest rate, appraisal report, parcel number, product type, loan type, payment frequency, maturity date, lender and servicer identifier.
6. (Original) The system of claim 1, wherein the first secured digital token is a first non-fungible token and the second secured digital token is a second non-fungible token.
7. (Original) The system of claim 1, wherein the one or more transactions comprise an equity extraction on the property represented by the first secured digital token.
8. (Original) The system of claim 1, wherein ownership record and authentication of chain of title of the property represented by the first secured digital token is automatically verified thereby eliminating a need for title insurance for the property.
9. (Original) The system of claim 1, wherein the digital wallet comprises a financial history for each of the first secured digital token and the second digital token.
10. (Cancelled)
receiving, via an interface, a request for a first secured token that represents a property wherein the property is uniquely identified by a set of property attributes,
11. (Currently Amended) A method that implements a secured token marketplace on a distributed ledger system, the method comprising the steps of:
wherein the interface communicates with one or more client systems via a communication network;
based on the set of property attributes, generating a first secured digital token for the property by encrypting the set of property attributes and further generate a first hash value using the encrypted set of property attributes;
based on the set of loan attributes, generating a second secured digital token for the loan note by encrypting the set of loan attributes and further generate a second hash value using the encrypted set of loan attributes;
associating the first secured digital token and the second digital token to a borrower of the loan;
transmitting the first secured digital token and the second digital token to a distributed ledger system in an encrypted format that comprises the first and second hash values and a unique key value, wherein the distributed ledger system comprises a blockchain system; and
associating the first secured digital token and the second digital token with a digital wallet that enables one or more transactions to be made on the first secured digital token and the second digital token in a digital marketplace.
processing a request for a loan on the property represented by the first secured digital token to generate a loan note for the property wherein the loan note is uniquely identified by a set of loan attributes;
12. (Original) The method of claim 11, wherein the property comprises at least one residential real estate.
13. (Original) The method of claim 11, wherein the property comprises at least one physical asset.
14. (Original) The method of claim 11, wherein the set of property attributes comprises a street address, property type, borrower name, one or more physical characteristics of the property.
15. (Original) The method of claim 11, wherein the set of loan attributes comprises a combination of: loan identifier, note date, note amount, note interest rate, appraisal report, parcel number, product type, loan type, payment frequency, maturity date, lender and servicer identifier.
16. (Original) The method of claim 11, wherein the first secured digital token is a first non-fungible token and the second secured digital token is a second non-fungible token.
17. (Original) The method of claim 11, wherein the one or more transactions comprise an equity extraction on the property represented by the first secured digital token.
18. (Original) The method of claim 11, wherein ownership record and authentication of chain of title of the property represented by the first secured digital token is automatically verified thereby eliminating a need for title insurance for the property.
19. (Original) The method of claim 11, wherein the digital wallet comprises a financial history for each of the first secured digital token and the second digital token.
20. (Cancelled)
Furthermore, there is no apparent reason why applicant would be prevented from presenting claims corresponding to those of the instant application in the other copending application. See In re Schneller, 397 F.2d 350, 158 USPQ 210 (CCPA 1968). See also MPEP § 804.
Conclusion
Any inquiry concerning this communication or earlier communications from the examiner should be directed to CHIKA OJIAKU whose telephone number is (571)270-3608. The examiner can normally be reached Monday - Friday: 8.30 AM -5:00 PM EST.
Examiner interviews are available via telephone, in-person, and video conferencing using a USPTO supplied web-based collaboration tool. To schedule an interview, applicant is encouraged to use the USPTO Automated Interview Request (AIR) at http://www.uspto.gov/interviewpractice.
If attempts to reach the examiner by telephone are unsuccessful, the examiner’s supervisor, Matthew Gart can be reached on 571-272-3955. The fax phone number for the organization where this application or proceeding is assigned is 571-273-8300.
Information regarding the status of published or unpublished applications may be obtained from Patent Center. Unpublished application information in Patent Center is available to registered users. To file and manage patent submissions in Patent Center, visit: https://patentcenter.uspto.gov. Visit https://www.uspto.gov/patents/apply/patent-center for more information about Patent Center and https://www.uspto.gov/patents/docx for information about filing in DOCX format. For additional questions, contact the Electronic Business Center (EBC) at 866-217-9197 (toll-free). If you would like assistance from a USPTO Customer Service Representative, call 800-786-9199 (IN USA OR CANADA) or 571-272-1000.
/CHIKAODINAKA OJIAKU/Primary Examiner, Art Unit 3696
Conclusion
Any inquiry concerning this communication or earlier communications from the examiner should be directed to CHIKA OJIAKU whose telephone number is (571)270-3608. The examiner can normally be reached Monday - Friday: 8.30 AM -5:00 PM EST.
Examiner interviews are available via telephone, in-person, and video conferencing using a USPTO supplied web-based collaboration tool. To schedule an interview, applicant is encouraged to use the USPTO Automated Interview Request (AIR) at http://www.uspto.gov/interviewpractice.
If attempts to reach the examiner by telephone are unsuccessful, the examiner’s supervisor, Matthew Gart can be reached at 571 272-3955. The fax phone number for the organization where this application or proceeding is assigned is 571-273-8300.
Information regarding the status of published or unpublished applications may be obtained from Patent Center. Unpublished application information in Patent Center is available to registered users. To file and manage patent submissions in Patent Center, visit: https://patentcenter.uspto.gov. Visit https://www.uspto.gov/patents/apply/patent-center for more information about Patent Center and https://www.uspto.gov/patents/docx for information about filing in DOCX format. For additional questions, contact the Electronic Business Center (EBC) at 866-217-9197 (toll-free). If you would like assistance from a USPTO Customer Service Representative, call 800-786-9199 (IN USA OR CANADA) or 571-272-1000.
/CHIKAODINAKA OJIAKU/Primary Examiner, Art Unit 3696