DETAILED ACTION
Acknowledgements
Claims 1-20 are pending.
Claims 1-20 have been examined.
Notice of Pre-AIA or AIA Status
The present application, filed on or after March 16, 2013, is being examined under the first inventor to file provisions of the AIA .
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 nonstatutory 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); 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 nonstatutory double patenting provided the reference application or patent either is shown to be commonly owned with the examined application, or claims an invention made as a result of activities undertaken within the scope of a joint research agreement. See MPEP § 717.02 for applications subject to examination under the first inventor to file provisions of the AIA as explained in MPEP § 2159. See MPEP §§ 706.02(l)(1) - 706.02(l)(3) for applications not subject to examination under the first inventor to file provisions of the AIA . A terminal disclaimer must be signed in compliance with 37 CFR 1.321(b).
The USPTO Internet website contains terminal disclaimer forms which may be used. Please visit www.uspto.gov/patent/patents-forms. The filing date of the application in which the form is filed determines what form (e.g., PTO/SB/25, PTO/SB/26, PTO/AIA /25, or PTO/AIA /26) should be used. A web-based eTerminal Disclaimer may be filled out completely online using web-screens. An eTerminal Disclaimer that meets all requirements is auto-processed and approved immediately upon submission. For more information about eTerminal Disclaimers, refer to www.uspto.gov/patents/process/file/efs/guidance/eTD-info-I.jsp.
Claims 1-20 are rejected on the ground of nonstatutory double patenting as being unpatentable over claims 1-17 of U.S. Patent No. 11,704,733 and 1-20 of U.S. Patent No. 12,469,079. Although the claims at issue are not identical, they are not patentably distinct from each other because all the claims at issue are recited in claims 1-17 of U.S. Patent No. 11,704,733 and 1-20 of U.S. Patent No. 12,469,079.
19/384,999
11,704,733
1. A cryptographic asset trading system comprising:
circuitry configured to:
receive a creation request for at least one share of a digital fund token serving as a digital representation of a fund of assets, the creation request comprising a digital signature of a first cryptographic key associated with a first account; and
in response to receiving the creation request:
place a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with the cryptographic asset trading system as collateral for the digital fund token;
create and transfer the digital fund token to the first account by cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and
record 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.
4. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
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 of assets from the escrow account;
destroy the digital fund token; and
record destruction of the digital fund token on the distributed ledger.
2. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the digital fund token are associated with the first account.
3. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
5. The cryptographic asset trading system of claim 4, wherein the circuitry is further configured to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and
record removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
6. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
receive a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transfer the digital fund token from the first account to a second account; and
record the transfer of the digital fund token from the first account to the second account on the distributed ledger.
7. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund of assets into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
8. A method comprising:
receiving, using circuitry, a creation request for at least one share of a digital fund token serving as a digital representation of a fund of assets, the creation request comprising a digital signature of a first cryptographic key associated with a first account; and
in response to receiving the creation request:
placing, using the circuitry, a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with a cryptographic asset trading system as collateral for the digital fund token;
creating and transferring, using the circuitry, the digital fund token to the first account by cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and
recording, using the circuitry, 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.
11. The method of claim 8, further comprising:
receiving, using the circuitry, 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:
releasing, using the circuitry, the plurality of different assets represented by the at least one share of the fund of assets from the escrow account;
destroying, using the circuitry, the digital fund token; and
recording, using the circuitry, destruction of the digital fund token on the distributed ledger.
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.
2. The asset trading system of claim 1, wherein the instructions, when executed by the processor further causes the processor to:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund are associated with the first account.
3. The asset trading system of claim 1, wherein the instructions, when executed by the processor further causes the processor to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record the creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
4. The asset trading system of claim 1, wherein the instructions, when executed by the processor further causes the processor to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and
record the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
5. The asset trading system of claim 1, wherein the instructions, when executed by the processor further causes the processor to:
receive a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transfer the digital fund token from the first account to the second account; and
record the transfer of the digital fund token from the first account to the second account on the distributed ledger.
6. The asset trading system of claim 1,
wherein place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
7. A method comprising:
receiving, using at least one processor, a creation request (i) including a digital signature of a first cryptographic key associated with a first account and (ii) includes 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:
placing, using the at least one processor, 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 a computer implemented cryptographic asset trading system as collateral for a digital fund token serving as a digital representation of the fund;
creating and transferring, using the at least one processor, 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
recording, using the at least one processor, 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;
receiving, using the at least one processor, 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:
releasing, using the at least one processor, the plurality of different assets represented by the at least one share of the fund from the escrow account;
destroying, using the at least one processor, the digital fund token; and
recording, using the at least one processor, the destruction of the digital fund token on the distributed ledger.
9. The method of claim 8, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
receiving, using the circuitry, confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund of assets are associated with the first account.
10. The method of claim 9, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
creating, using the circuitry, a plurality of digital tokens representing the plurality of different assets; and
recording, using the circuitry, creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
placing, using the circuitry, the plurality of digital tokens representing the plurality of different assets into an escrow state; and
recording, using the circuitry, the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
12. The method of claim 11, further comprising:
in response to receiving the redemption request and prior to destroying the digital fund token:
removing, using the circuitry, a plurality of digital tokens representing the plurality of different assets from an escrow state; and
recording, using the circuitry, removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
13. The method of claim 8, further comprising:
receiving, using the circuitry, a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transferring, using the circuitry, the digital fund token from the first account to a second account; and
recording, using the circuitry, the transfer of the digital fund token from the first account to the second account on the distributed ledger.
14. The method of claim 8, wherein placing the respective quantity of each of the plurality of different assets represented by the at least one share of the fund of assets into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
8. The method of claim 7, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
receiving, using the at least one processor, confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund are associated with the first account.
9. The method of claim 8, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
creating, using the at least one processor, a plurality of digital tokens representing the plurality of different assets; and
recording, using the at least one processor, the creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
placing, using the at least one processor, the plurality of digital tokens representing the plurality of different assets into an escrow state; and
recording, using the at least one processor, the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
10. The method of claim 7, further comprising:
in response to receiving the redemption request and prior to destroying the digital fund token:
removing, using the at least one processor, a plurality of digital tokens representing the plurality of different assets from an escrow state; and
recording, using the at least one processor, the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
11. The method of claim 7, further comprising:
receiving, using the at least one processor, a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transferring, using the at least one processor, the digital fund token from the first account to the second account; and
recording, using the at least one processor, the transfer of the digital fund token on the distributed ledger.
12. The method of claim 7, wherein placing the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
15. A non-transitory computer-readable storage medium including a set of instructions that, when executed by programable circuitry, cause the programable circuitry to:
receive a creation request for at least one share of a digital fund token serving as a digital representation of a fund of assets, the creation request comprising a digital signature of a first cryptographic key associated with a first account; and
in response to receiving the creation request:
place a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with a cryptographic asset trading system as collateral for the digital fund token;
create and transfer the digital fund token to the first account by cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and
record 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.
18. The non-transitory computer-readable storage medium of claim 17, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
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 of assets from the escrow account;
destroy the digital fund token; and
record destruction of the digital fund token on the distributed ledger.
16. The non-transitory computer-readable storage medium of claim 15, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund of assets are associated with the first account.
17. The non-transitory computer-readable storage medium of claim 16, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
19. The non-transitory computer-readable storage medium of claim 18, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove the plurality of digital tokens representing the plurality of different assets from an escrow state; and
record removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
20. The non-transitory computer-readable storage medium of claim 15, wherein the set of instructions, when executed by the programable circuitry, cause the programable circuitry to:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund of assets into the escrow account as collateral for the digital fund token by placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
13. A non-transitory computer-readable storage medium including a set of instructions that, when executed by a processor, cause 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 a 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.
14. The non-transitory computer-readable storage medium of claim 13, wherein the instructions, when executed by the processor, further cause the processor to:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund are associated with the first account.
15. The non-transitory computer-readable storage medium of claim 14, wherein the instructions, when executed by the processor, further cause the processor to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record the creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
16. The non-transitory computer-readable storage medium of claim 13, wherein the instructions, when executed by the processor, further cause the processor to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and
record the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
17. The non-transitory computer-readable storage medium of claim 13,
wherein place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
19/384,999
12,469,079
1. A cryptographic asset trading system comprising:
circuitry configured to:
receive a creation request for at least one share of a digital fund token serving as a digital representation of a fund of assets, the creation request comprising a digital signature of a first cryptographic key associated with a first account; and
in response to receiving the creation request:
place a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with the cryptographic asset trading system as collateral for the digital fund token;
create and transfer the digital fund token to the first account by cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and
record 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.
2. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
In response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the digital fund token are associated with the first account.
3. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
4. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
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 of assets from the escrow account;
destroy the digital fund token; and
record destruction of the digital fund token on the distributed ledger.
5. The cryptographic asset trading system of claim 4, wherein the circuitry is further configured to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and
record removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
6. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
receive a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transfer the digital fund token from the first account to a second account; and
record the transfer of the digital fund token from the first account to the second account on the distributed ledger.
7. The cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund of assets into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
8. A method comprising:
receiving, using circuitry, a creation request for at least one share of a digital fund token serving as a digital representation of a fund of assets, the creation request comprising a digital signature of a first cryptographic key associated with a first account; and
in response to receiving the creation request:
placing, using the circuitry, a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with a cryptographic asset trading system as collateral for the digital fund token;
creating and transferring, using the circuitry, the digital fund token to the first account by cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and
recording, using the circuitry, 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.
1. A computer implemented cryptographic asset trading system comprising:
circuitry configured 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; and
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.
2. The computer implemented cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund are associated with the first account.
3. The computer implemented cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record the creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
4. The computer implemented cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
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.
5. The computer implemented cryptographic asset trading system of claim 4, wherein the circuitry is further configured to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and
record the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
6. The computer implemented cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
receive a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transfer the digital fund token from the first account to the second account; and
record the transfer of the digital fund token from the first account to the second account on the distributed ledger.
7. The computer implemented cryptographic asset trading system of claim 1, wherein the circuitry is further configured to:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
8. A method comprising:
receiving, using circuitry, 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; and
in response to receiving the creation request:
placing, using the circuitry, 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 a computer implemented cryptographic asset trading system as collateral for a digital fund token serving as a digital representation of the fund;
creating and transferring, using the circuitry, 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
recording, using the circuitry, 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.
9. The method of claim 8, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
receiving, using the circuitry, confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund of assets are associated with the first account.
10. The method of claim 9, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
creating, using the circuitry, a plurality of digital tokens representing the plurality of different assets; and
recording, using the circuitry, creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
placing, using the circuitry, the plurality of digital tokens representing the plurality of different assets into an escrow state; and
recording, using the circuitry, the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
11. The method of claim 8, further comprising:
receiving, using the circuitry, 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:
releasing, using the circuitry, the plurality of different assets represented by the at least one share of the fund of assets from the escrow account;
destroying, using the circuitry, the digital fund token; and
recording, using the circuitry, destruction of the digital fund token on the distributed ledger.
12. The method of claim 11, further comprising:
in response to receiving the redemption request and prior to destroying the digital fund token:
removing, using the circuitry, a plurality of digital tokens representing the plurality of different assets from an escrow state; and
recording, using the circuitry, removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
13. The method of claim 8, further comprising:
receiving, using the circuitry, a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transferring, using the circuitry, the digital fund token from the first account to a second account; and
recording, using the circuitry, the transfer of the digital fund token from the first account to the second account on the distributed ledger.
14. The method of claim 8, wherein placing the respective quantity of each of the plurality of different assets represented by the at least one share of the fund of assets into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
9. The method of claim 8, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
receiving, using the circuitry, confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund are associated with the first account.
10. The method of claim 9, further comprising:
in response to receiving the creation request and prior to creating the digital fund token:
creating, using the circuitry, a plurality of digital tokens representing the plurality of different assets; and
recording, using the circuitry, the creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
placing, using the circuitry, the plurality of digital tokens representing the plurality of different assets into an escrow state; and
recording, using the circuitry, the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
11. The method of claim 8, further comprising:
receiving, using the circuitry, 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:
releasing, using the circuitry, the plurality of different assets represented by the at least one share of the fund from the escrow account;
destroying, using the circuitry, the digital fund token; and
recording, using the circuitry, the destruction of the digital fund token on the distributed ledger.
12. The method of claim 11, further comprising:
in response to receiving the redemption request and prior to destroying the digital fund token:
removing, using the circuitry, a plurality of digital tokens representing the plurality of different assets from an escrow state; and
recording, using the circuitry, the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
13. The method of claim 8, further comprising:
receiving, using the circuitry, a transfer request including the digital signature of the first cryptographic key associated with the first account; and
in response to receiving the transfer request:
transferring, using the circuitry, the digital fund token from the first account to the second account; and
recording, using the circuitry, the transfer of the digital fund token on the distributed ledger.
14. The method of claim 8, wherein placing the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
15. A non-transitory computer-readable storage medium including a set of instructions that, when executed by programable circuitry, cause the programable circuitry to:
receive a creation request for at least one share of a digital fund token serving as a digital representation of a fund of assets, the creation request comprising a digital signature of a first cryptographic key associated with a first account; and
in response to receiving the creation request:
place a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with a cryptographic asset trading system as collateral for the digital fund token;
create and transfer the digital fund token to the first account by cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and
record 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.
16. The non-transitory computer-readable storage medium of claim 15, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund of assets are associated with the first account.
17. The non-transitory computer-readable storage medium of claim 16, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
18. The non-transitory computer-readable storage medium of claim 17, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
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 of assets from the escrow account;
destroy the digital fund token; and
record destruction of the digital fund token on the distributed ledger.
19. The non-transitory computer-readable storage medium of claim 18, wherein the set of instructions, when executed by the programable circuitry, further cause the programable circuitry to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove the plurality of digital tokens representing the plurality of different assets from an escrow state; and
record removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
20. The non-transitory computer-readable storage medium of claim 15, wherein the set of instructions, when executed by the programable circuitry, cause the programable circuitry to:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund of assets into the escrow account as collateral for the digital fund token by placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
15. A non-transitory computer-readable storage medium including a set of instructions that, when executed by programmable circuitry, cause the programmable circuitry 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; and
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 a 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.
16. The non-transitory computer-readable storage medium of claim 15, wherein the instructions, when executed by the programmable circuitry, further cause the programmable circuitry to:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund are associated with the first account.
17. The non-transitory computer-readable storage medium of claim 16, wherein the instructions, when executed by the programmable circuitry, further cause the programmable circuitry to:
in response to receiving the creation request and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and
record the creation of the plurality of digital tokens on the distributed ledger; and
in response to receiving the creation request and as part of creating the digital fund token:
place the plurality of digital tokens representing the plurality of different assets into an escrow state; and
record the escrow state of the plurality of digital tokens representing the plurality of different assets on the distributed ledger.
18. The non-transitory computer-readable storage medium of claim 17, wherein the instructions, when executed by the programmable circuitry, further cause the programmable circuitry to:
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.
19. The non-transitory computer-readable storage medium of claim 18, wherein the instructions, when executed by the programmable circuitry, further cause the programmable circuitry to:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and
record the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
20. The non-transitory computer-readable storage medium of claim 15, wherein the instructions, when executed by the programmable circuitry, cause the programable circuitry to:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into the escrow account as collateral for the digital fund token by placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token.
Claim Rejections - 35 USC § 103
The following is a quotation of 35 U.S.C. 103 which forms the basis for all obviousness rejections set forth in this Office action:
A patent for a claimed invention may not be obtained, notwithstanding that the claimed invention is not identically disclosed as set forth in section 102, if the differences between the claimed invention and the prior art are such that the claimed invention as a whole would have been obvious before the effective filing date of the claimed invention to a person having ordinary skill in the art to which the claimed invention pertains. Patentability shall not be negated by the manner in which the invention was made.
Claims 1-3, 6-10, 13-17 and 20 are rejected under 35 U.S.C. 103 as being unpatentable over US Grant Publication US8688575B2 (“Steiner”) in view of US Application Publication US20160292680A1 (“Wilson, Jr. et al.”), in further view of US Application Publication US20100088250A1 (“Magnolia et al.”).
Regarding claims 1, 8 and 15, Steiner teaches:
A asset trading system comprising: (col 18 ln 25-41)
circuitry configured to: (col 18 ln 25-41)
receive a creation request (col 19 ln 18-33) for at least one share of a fund (FIG. 8; col 24 ln 33-39), the creation request comprising data (col 19 ln 18-33)
in response to receiving the creation request:
create and transfer the fund to the first account (Figs. 7-8)
record creation and transfer of the fund to the first account on a ledger (FIG. 27 item 64x; col 33 ln 23-33, col 38 ln 9-18)
Steiner does not explicitly disclose:
wherein the asset trading system is a cryptographic asset trading system;
wherein the data is a digital signature of a first cryptographic key associated with a first account, and
wherein the fund is a digital fund token serving as a digital representation of a fund of assets
place a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with the cryptographic asset trading system as collateral for the digital fund token;
cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and
wherein the ledger is 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.
However, Wilson, Jr. et al. teaches:
wherein the asset trading system is a cryptographic asset trading system; (¶0068)
wherein the data is a digital signature of a first cryptographic key associated with a first account, and (¶0037)
wherein the fund is a digital fund token serving as a digital representation of a fund of assets (¶0062
cryptographically signing the digital fund token with a second cryptographic key associated with the cryptographic asset trading system; and (Fig. 1; ¶0037)
wherein the ledger is a distributed ledger; (¶0062)
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. (Fig. 1; ¶0037)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify Customizable Investment Fund and Investing Education system of Steiner by utilizing distributed ledger, digital asset token, and private key signed electronic signature in accordance with the teaching of Wilson, Jr. et al.. This modification improves the security of asset transaction by signing the digital fund token cryptographically for each transaction. Furthermore, the tokenized asset enables it be stored on a distributed ledger which improves the transaction record availability, accessibility and auditability.
Steiner and Wilson, Jr. et al. do not explicitly disclose:
place a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with the cryptographic asset trading system as collateral for the digital fund token;
However, Magnolia et al. teaches:
place a respective quantity of each of a plurality of different assets represented by the at least one share of the digital fund token into an escrow account associated with the cryptographic asset trading system as collateral for the digital fund token; (Fig. 7B items 13 and 19; ¶¶0081-0082 and ¶¶0088-0089; claims 13 and 31)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify the combined system of Steiner and Wilson, Jr., et al. by adding support for escrow account in accordance with the teaching of Magnolia et al.. This modification prevents the assets being spent prematurely. (Magnolia et al. ¶¶0081-0082) By placing investments in an escrow account, it provides transactions parties with an assurance of security.
Regarding claims 2, 9 and 16, Steiner in view of Wilson, Jr. et al., and in further view of Magnolia et al. discloses all the limitations as described above. Steiner further discloses:
in response to receiving the creation request and prior to creating the digital fund token:
receive confirmation from the distributed ledger that the plurality of different assets represented by the at least one share of the fund are associated with the first account. (col 19 ln 18-52)
Regarding claims 3, 10 and 17, Steiner in view of Wilson, Jr. et al., and in further view of Magnolia et al. discloses all the limitations as described above. Wilson, Jr. et al. further discloses:
in response to receiving the creation request to and prior to creating the digital fund token:
create a plurality of digital tokens representing the plurality of different assets; and (abs, ¶0010, ¶0059 and ¶0063)
record the creation of the plurality of digital tokens on the distributed ledger; and (abs, ¶0010, ¶0059 and ¶0063)
creating the digital fund token (¶0062)
record on distributed ledger (abs; ¶0005 and ¶0010; claim 1)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify Customizable Investment Fund and Investing Education system of Steiner by including digital asset token creation and recordation on distributed ledger in accordance with the teaching of Wilson, Jr. et al.. This modification enables the tokenized asset be stored on a distributed ledger which improves the transaction record availability, accessibility and auditability.
Magnolia et al. discloses:
in response to receiving the creation request:
place the plurality of different assets into an escrow state; and (Fig. 7b steps 13 and 19; ¶¶0088-89)
record the escrow state of the plurality of different assets on the ledger. (Fig. 9B steps 7-8; claim 13)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify the combined system of Steiner and Wilson, Jr., et al. by adding support for escrow account in accordance with the teaching of Magnolia et al.. This modification prevents the assets being spent prematurely. (Magnolia et al. ¶¶0081-0082) By placing investments in an escrow account, it provides transactions parties an assurance of security.
Regarding claims 6 and 13, Steiner in view of Wilson, Jr. et al., and in further view of Magnolia et al. discloses all the limitations as described above. Steiner further discloses:
receive a transfer request; and (col 21 ln 27-33; claim 6)
Wilson, Jr. et al. discloses:
including the digital signature of the first cryptographic key associated with the first account; (¶0037)
transfer the digital fund token from the first account to the second account; and (¶0037, ¶0059, and ¶0061)
record the transfer of the digital fund token from the first account to the second account on the distributed ledger.(¶0043)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify Customizable Investment Fund and Investing Education system of Steiner by including cryptographic key signed digital signature, digital asset token, and distributed ledger in accordance with the teaching of Wilson, Jr. et al.. This modification improves the security of asset transaction by signing the digital fund token cryptographically for each transaction. Furthermore, the tokenized asset enables it be stored on a distributed ledger which improves the transaction record availability, accessibility and auditability.
Regarding claims 7, 14 and 20, Steiner in view of Wilson, Jr. et al., and in further view of Magnolia et al. discloses all the limitations as described above. Magnolia et al. further discloses:
place the respective quantity of each of the plurality of different assets represented by the at least one share of the fund into the escrow account as collateral for the digital fund token includes placing a quantity of at least one of an exchange traded fund, a mutual fund, an index fund, a bond fund, a commodity fund, a currency fund, and a real estate fund into the escrow account as collateral for the digital fund token. (Fig. 7B items 13 and 19; ¶0058, ¶0082 and ¶¶0088-89; claim 6)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify the combined system of Steiner and Wilson, Jr., et al. by including escrow account in accordance with the teaching of Magnolia et al.. This modification prevents the assets being spent prematurely. (Magnolia et al. ¶¶0081-0082) By placing investments in an escrow account, it provide parties to transactions an assurance of security.
Claims 4, 11 and 18 are rejected under 35 U.S.C. 103 as being unpatentable over US Grant Publication US8688575B2 (“Steiner”), in view of US Application Publication US20160292680A1 (“Wilson, Jr. et al.”), in further view of US Application Publication US20100088250A1 (“Magnolia et al.”), and US20130282559A1 (“Pappas”).
Regarding claims 4, 11 and 18, Steiner in view of Wilson, Jr. et al., and in further view of Magnolia et al. discloses all the limitations as described above. Steiner further discloses:
receive a redemption request including data (i.e., investment vehicle symbol); and (FIG. 22 item 336, 338, 64A; col 34 ln 64 - col 35 ln 9)
Wilson, Jr. et al. discloses:
including data where data is digital signature of the first cryptographic key associated with the first account (¶0037)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify Customizable Investment Fund and Investing Education system of Steiner by including data signed with cryptographic key in accordance with the teaching of Wilson, Jr. et al.. This modification improves the data security by including cryptographically signed data.
Magnolia et al. discloses:
release the plurality of different assets represented by the at least one share of the fund from the escrow account; (¶0092)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify the combined system of Steiner and Wilson, Jr., et al. by including releasing fund from escrow account in accordance with the teaching of Magnolia et al.. This modification prevents the assets being spent prematurely. (Magnolia et al. ¶¶0081-0082)
Steiner, Wilson, Jr. et al. and Magnolia et al. do not explicitly disclose:
destroy the digital fund token; and
record the destruction of the digital fund token on the distributed ledger.
However, Pappas teaches:
destroy the digital fund token; and (¶0060)
record the destruction of the digital fund token on the distributed ledger. (¶0042)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling date of the invention to modify the combined system of Steiner, Wilson, Jr. et al. and Magnolia et al. by adding the feature of destroying the token and recording the destruction in accordance with the teaching of Pappas. This modification allows the combined system maintains the accurate transaction record.
Claims 5, 12 and 19 are rejected under 35 U.S.C. 103 as being unpatentable over US Grant Publication US8688575B2 (“Steiner”), in view of US Application Publication US20160292680A1 (“Wilson, Jr. et al.”), in further view of US Application Publication US20100088250A1 (“Magnolia et al.”), US20130282559A1 (“Pappas”), and International Application Publication WO2012123394A1 (“Kreft”).
Regarding claims 5, 12 and 19, Steiner in view of Wilson, Jr. et al., in further view of Magnolia et al. and Pappas discloses all the limitations as described above. Steiner, Wilson, Jr. et al., Magnolia et al. and Pappas do not explicitly disclose:
in response to receiving the redemption request and prior to destroying the digital fund token:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and
record the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.
However, Kreft teaches:
remove a plurality of digital tokens representing the plurality of different assets from an escrow state; and (pg 143 ln 20-27)
record the removal of the plurality of digital tokens representing the plurality of different assets from the escrow state on the distributed ledger.(pg 81 ln 19-26)
Therefore, it would have been obvious to one of ordinary skill in the art at the time of the filling
date of the invention to modify the combined system of Steiner, Wilson, Jr. et al., Magnolia et al. and Pappas by adding the feature of removing token and record the removal prior destroying in accordance with the teaching of Kreft. This modification allows the combined system maintains the accurate transaction record.
Conclusion
The following prior art made of record and not relied upon is considered pertinent to applicant's disclosure.
US20160260169A1 (“Arnold et al.”) discloses systems and methods relate to processing financial transactions using a computer network that stores a distributed ledger, and particularly, to updating the distributed ledger based on data messages received from validation servers that each store a portion of the ledger corresponding to a respective asset. The systems and methods employ the distributed ledger to control visibility of transactions to the general marketplace, but still provide swift and assured completion of transactions and visibility and audit capability for regulators.
US20150332395A1 (“Walker et al.”) discloses a method of settlement in financial markets and cryptographic currencies. Specifically, it directs to a cryptographic currency protocol and to a cryptographic currency that includes a positional item. The cryptographic currency protocol supports a virtual wallet that, in various embodiments, is a security and cash account for storing and managing the cryptographic currency. Opening a transaction via the virtual wallet to transfer the cryptographic currency is a strong guarantee of the availability of funds in the virtual wallet because, e.g., funds are not transacted unless the commit phase is successful. the end-of-term of the real asset, the asset tokens are terminated, and exit is enabled from the Blockchain-based ecosystem.
Any inquiry concerning this communication or earlier communications from the examiner should be directed to YINGYING ZHOU whose telephone number is (571)272-5308. The examiner can normally be reached Mon - Fri 9:00am - 5:00pm ET.
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/YINGYING ZHOU/Primary Examiner, Art Unit 3697
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