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Patent Marketplace: Digital Currency Patents and Cryptocurrency Patents for Sale

BlockchainCloud and Blockchain Content Storage Using Galois Fields (Lesavich): Four U.S. Patents

As trading in digital currencies grows, and the use of cloud computing expands, the need to securely and efficiently store critical data becomes more and more of a challenge. At the foundation of cloud computing is the broader concept of infrastructure convergence and shared services. This type of cloud computing environment allows enterprises to get their applications up and running faster, with easier manageability and less maintenance, and it enables the enterprise to more rapidly adjust resources (such as servers, storage and networking) to meet fluctuating and unpredictable business demands. There are, however, a number of challenges with the current generation of electronic content storage and retrieval on cloud computing networks such as how to efficiently store and retrieve electronic content on cloud computing networks while providing proper privacy and security for the electronic content that is stored on and retrieved from the cloud.

This portfolio creates a solution to the content storage and retrieval issues facing cloud computing networks by dividing the electronic content into plural portions that are stored in plural cloud storage objects. Storage locations for the plural cloud storage objects are selected using a Galois (or finite) field of cloud storage objects that are distributed to various locations across the cloud network. When electronic content is requested, the plural portions are retrieved and transparently combined back into the original electronic content. Since the multiplicative inverses of original elements used in a Galois fields are difficult to determine, the Galois field provides security and privacy for selecting the storage locations of the plural cloud storage objects on the cloud.

We’ve all seen a movie in which the treasure map is torn in half so neither party can find the treasure without the other person. That is the concept here. Only a single server network device with the Galois field that is storing the plural cloud storage objects can individually determine the locations of all portions of the electronic content on the cloud communications network, and that provides a first layer of security and privacy for the electronic content. Also, no target network devices or other server network devices requesting the electronic content can determine exactly where all the electronic content is stored, and that creates a second layer of security and privacy for the electronic content. The Galois field also allows information in the plural cloud storage objects to be stored as plaintext (that is, not encrypted) and helps prevent the use of information entropy techniques used by hackers and/or eavesdroppers to try to determine storage locations of the plaintext electronic content on the cloud.

Patent No.Title
9,037,564Method and system for electronic content storage and retrieval with Galois fields on cloud computing networks
9,137,250Method and system for electronic content storage and retrieval using Galois fields and information entropy on cloud computing networks
9,361,479Method and system for electronic content storage and retrieval using Galois fields and geometric shapes on cloud computing networks
9,569,771Method and system for storage and retrieval of blockchain blocks using Galois fields

All four patents share a 2011 Priority Date. This portfolio would be a strategic acquisition for any supplier of cloud computing services or digital currency exchange seeking more secure storage and retrieval of data.

Digital CurrencyDigital Currency “Bricks” Technology (Samid): U.S. Patent No. 9,471,906

More and more people are trading in cryptocurrencies. Bitcoin, Litecoin, Ethereum, Zcash, Dash, Ripple and Monero are the major players. And most digital currency holders have made money off their cryptocurrency investments. The challenge, however, is what if you want to spend some of the digital currency you are holding? You can trade it for dollars or another currency, but you cannot simply walk into a retail location and buy something with your Bitcoin or other cryptocurrency at a traditional “bricks” retailer. Cash? NO problem. Credit or debit card? NO problem. Personal check? NO problem as long as you have some valid ID. Digital currency? NO can do! The vast majority of “bricks” retailers – from restaurants to grocery stores, jewelry stores to auto dealerships – have NO mechanism for accepting payment in cryptocurrency!

U.S. Patent No. 9,471,906 for "Digital Transactional Procedures and Implements" creates digital currency that you carry around with you like cash or a credit card. The patented invention consists of a series of procedures that cooperates with the companies that mint digital money to permit that currency to be properly, securely and conveniently traded by encapsulating the cryptocurrency in a physical housing that the owner carries around with him or her. This patented technology enables a “bricks” retailer to accept payment for products and services in digital currency. NONE of the credit card processing companies – or “Merchant Services” providers as they are known – currently offer processing of on-site sales transactions made with cryptocurrencies. The acquirer of this patent will be able to create and OWN a new business segment in the Merchant Services industry – the acceptance of digital currencies as payment for products and services – and the company that acquires this patent will have a monopoly through 2033!

Peer-to-Peer Location Sharing for a Blockchain (Chainfrog): U.S. Patent No. 9,894,485 and Three Patent Applications

One of the challenges faced in the growing digital currency/cryptocurrency sector is communicating and verifying the location of parties to a transaction securely and reliably. This patent creates technology under which location-aware devices such as mobile phones, IoT devices, and autonomous cars can create a report of their location (Longitude, Latitude and Altitude anywhere on the globe) that is transmitted to a plurality of network-enabled devices over a blockchain. The location reports are linked to asymmetric cryptographic keys, allowing for proof-of-location and trusted identification of the location-aware devices. The patent includes linking cryptocurrency transactions to the location report, providing for payment by location, and adding an extra layer or security to the process.

U.S. Patent No. 9,894,485 for "Peer-to-Peer Geolocation System" would be a critical acquisition for any company in the digital currency blockchain space concerned with the location of devices, and for example, where exactly currency transactions are taking place. In addition to the granted U.S. Patent, there are three U.S. Patent Applications in progress, so this portfolio can be modified and tweaked over time to meet the exact needs of its acquirer.

Bitcoin Kiosk/ATM and Enrollment Center (Enter): U.S. Patent No. 9,135,787

Launched in 2009, Bitcoin has grown to become the most widely accepted digital currency. Just as the landscape is scattered with ATMs that dispense U.S. currency and perform other financial transactions, it was just a matter of time until Bitcoin grew to the point that Bitcoin ATMs would be needed, and this patent covers the technology for such a device. The invention is most comprehensive and includes a bill validator, bill dispenser, printer, scanner and/or reader, touch screen display, processor/controller and wireless internet connection. There is also an enrollment and security protocol that runs executable instructions, sending a receipt of a user's mobile phone, transmits a text message to the mobile phone of the customer, and confirms receipt and confirmation by the user. This Bitcoin ATM can work with a PIN just like a conventional ATM or use a biometric interface to identify users.

U.S. Patent No. 9,135,787 for a "Bitcoin Kiosk/ATM Device and System Integrating Enrollment Protocol and Method of Using the Same" would be a critical acquisition for any business currently manufacturing ATMs, or for any business looking to capitalize on the growth of the Bitcoin Blockchain.

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