US-12620021-B2 - Blockchain digital cryptocurrency loan system

US12620021B2US 12620021 B2US12620021 B2US 12620021B2US-12620021-B2

Abstract

A cryptographic blockchain computer network digital cryptocurrency loan system that rewards both the loan holder and the loan paying network users with system utility fund tokens for each loan payment made. System utility fund tokens entitle the system users to receive dividend distributions of passive income from a system digital cryptocurrency investment fund.

Inventors

Maurice Vanegas
Isaac VANEGAS
Pranay BHATTACHARYYA

Assignees

Maurice Vanegas
Isaac VANEGAS
Pranay BHATTACHARYYA

Dates

Publication Date: 20260505
Application Date: 20230927

Claims (15)

1 . A computer-implemented method for transacting among a plurality of nodes in a blockchain network, comprising: selecting block producing nodes in the blockchain network based on input from blockchain users having digital wallets on the blockchain network with staked first tokens, wherein the staked first tokens are immovable on the blockchain network, the blockchain network implementing a proof-of-stake protocol for controlling block production in the blockchain network; assigning a balance of fund tokens to a fund token digital wallet on the blockchain network, wherein the fund tokens are different tokens than the first tokens; creating, on the blockchain network, a smart contract configured to loan an amount of the first tokens from a first digital wallet of the blockchain network to a second digital wallet of the blockchain network; in response to repayment of part of the amount of the first tokens by a payer digital wallet to a loan holder digital wallet, computing, on the blockchain network, a first portion of the amount, a second portion of the amount, and a third portion of the amount; automatically allocating the first portion of the repayment of the first tokens to a system digital wallet on the blockchain network, the second portion of the repayment of the first tokens to an investment digital wallet on the blockchain network, and the third portion of the repayment of the first tokens to the loan holder digital wallet on the blockchain network; recording the allocation of the first portion, the second portion, and the third portion in a same block on the blockchain network; in response to the repayment and based on a fund token smart contract different than the smart contract, automatically allocating a first amount of the fund token from the fund token digital wallet to the payer digital wallet and a second amount of the fund token from the fund token digital wallet to the loan holder digital wallet; and automatically allocating, based on a dividend smart contract different than the fund token smart contract and the smart contract, a dividend amount of the first token to each digital wallet in the blockchain network having staked fund tokens based on a fund token balance of each digital wallet.
2 . The computer-implemented method of claim 1 , wherein the first digital wallet comprises the payer digital wallet, and wherein the second digital wallet comprises the loan holder digital wallet.
3 . The computer-implemented method of claim 1 , further comprising: staking at least a portion of the first tokens allocated to the investment digital wallet, wherein the dividend amount is generated from staking the at least a portion of the first tokens.
4 . The computer-implemented method of claim 1 , further comprising: updating a balance of the amount of the first token loaned; and including the updated balance in a next cryptographic block produced by a block producing node of the blockchain network.
5 . The computer-implemented method of claim 1 , wherein the first amount and the second amount of the fund token are automatically allocated based on a second smart contract on the blockchain network.
6 . A system for transacting among a plurality of nodes in a blockchain network, comprising at least one processor configured as a node in the blockchain network and configured to: select block producing nodes in the blockchain network based on input from blockchain users having digital wallets on the blockchain network with staked first tokens, wherein the staked first tokens are immovable on the blockchain network, the blockchain network implementing a proof-of-stake protocol for controlling block production in the blockchain network; assign a balance of fund tokens to a fund token digital wallet on the blockchain network, wherein the fund tokens are different tokens than the first tokens; create, on the blockchain network, a smart contract configured to loan an amount of the first tokens from a first digital wallet of the blockchain network to a second digital wallet of the blockchain network; in response to repayment of part of the amount of the first tokens by a payer digital wallet to a loan holder digital wallet, computing, on the blockchain network, a first portion of the amount, a second portion of the amount, and a third portion of the amount; automatically allocate the first portion of the repayment of the first tokens to a system digital wallet on the blockchain network, the second portion of the repayment of the first tokens to an investment digital wallet on the blockchain network, and the third portion of the repayment of the first tokens to the loan holder digital wallet on the blockchain network; record the allocation of the first portion, the second portion, and the third portion in a same block on the blockchain network; in response to the repayment and based on a fund token smart contract different than the smart contract, automatically allocate a first amount of the fund token from the fund token digital wallet to the payer digital wallet and a second amount of the fund token from the fund token digital wallet to the loan holder digital wallet; and automatically allocate, based on a dividend smart contract different than the fund token smart contract and the smart contract, a dividend amount of the first token to each digital wallet in the blockchain network having staked fund tokens based on a fund token balance of each digital wallet.
7 . The system of claim 6 , wherein the first digital wallet comprises the payer digital wallet, and wherein the second digital wallet comprises the loan holder digital wallet.
8 . The system of claim 7 , wherein the at least one processor is further configured to: stake at least a portion of the first tokens allocated to the investment digital wallet, wherein the dividend amount is generated from staking the at least a portion of the first tokens.
9 . The system of claim 7 , wherein the at least one processor is further configured to: update a balance of the amount of the first token loaned; and include the updated balance in a next cryptographic block produced by a block producing node of the blockchain network.
10 . The system of claim 7 , wherein the first amount and the second amount of the fund token are automatically allocated based on a second smart contract on the blockchain network.
11 . A computer program product for transacting among a plurality of nodes in a blockchain network, comprising at least one non-transitory computer-readable medium including instructions that, when executed by at least one processor of a node in the blockchain network, cause the processor to: select block producing nodes in the blockchain network based on input from blockchain users having digital wallets on the blockchain network with staked first tokens, wherein the staked first tokens are immovable on the blockchain network, the blockchain network implementing a proof-of-stake protocol for controlling block production in the blockchain network; assign a balance of fund tokens to a fund token digital wallet on the blockchain network, wherein the fund tokens are different tokens than the first tokens; create, on the blockchain network, a smart contract configured to loan an amount of the first tokens from a first digital wallet of the blockchain network to a second digital wallet of the blockchain network; in response to repayment of part of the amount of the first tokens by a payer digital wallet to a loan holder digital wallet, computing, on the blockchain network, a first portion of the amount, a second portion of the amount, and a third portion of the amount; automatically allocate the first portion of the repayment of the first tokens to a system digital wallet on the blockchain network, the second portion of the repayment of the first tokens to an investment digital wallet on the blockchain network, and the third portion of the repayment of the first tokens to the loan holder digital wallet on the blockchain network; record the allocation of the first portion, the second portion, and the third portion in a same block on the blockchain network; in response to the repayment and based on a fund token smart contract different than the smart contract, automatically allocate a first amount of the fund token from the fund token digital wallet to the payer digital wallet and a second amount of the fund token from the fund token digital wallet to the loan holder digital wallet; and automatically allocate, based on a dividend smart contract different than the fund token smart contract and the smart contract, a dividend amount of the first token to each digital wallet in the blockchain network having staked fund tokens based on a fund token balance of each digital wallet.
12 . The computer program product of claim 11 , wherein the first digital wallet comprises the payer digital wallet, and wherein the second digital wallet comprises the loan holder digital wallet.
13 . The computer program product of claim 12 , wherein the at least one processor is further caused to: stake at least a portion of the first tokens allocated to the investment digital wallet, wherein the dividend amount is generated from staking the at least a portion of the first tokens.
14 . The computer program product of claim 11 , wherein the at least one processor is further caused to: update a balance of the amount of the first token loaned; and include the updated balance in a next cryptographic block produced by a block producing node of the blockchain network.
15 . The computer program product of claim 11 , wherein the first amount and the second amount of the fund token are automatically allocated based on a second smart contract on the blockchain network.

Description

CROSS REFERENCE TO RELATED APPLICATIONS This application is a continuation of U.S. patent application Ser. No. 17/415,607, filed Apr. 16, 2020, which is the United States national phase of International Application No. PCT/US2020/028594, filed Apr. 16, 2020, the disclosures of which are hereby incorporated by reference in their entirety. TECHNICAL FIELD The present invention is in the field of data processing systems for digital cryptocurrency loan creation and payment. More specifically data processing in relation to systems involving a loan creation and payment protocol on a delegated proof of stake peer-to-peer blockchain computer network. DISCLOSURE OF THE INVENTION As used herein the term currency refers to a transferable object that may be accepted as payment for goods and services and repayment of debts between parties. Most currency objects today are fiat currencies. A currency object may be a tangible physical object or may be an intangible object existing as stored information. A fiat currency object, like a paper currency bill, is without useful value itself as a commodity. The fiat currency object derives its value by being declared by the governing authority of a jurisdiction to be legal tender in that jurisdiction; that is, the fiat currency object must be accepted as a form of payment within the jurisdiction of the governing authority. Accordingly, merchants in the governing authority's jurisdiction readily accept payment for their goods and services with fiat currency objects because they know that they can in turn pay for goods and services in that jurisdiction with such fiat currency objects. However, the modern fiat currency objects of today are not the only type of currency objects. Historically, the first type of currency objects developed were commodity items. A commodity item currency object consists of a physical commodity item that has an intrinsic value in itself. A common type of commodity item used historically as a currency object was precious metals, typically gold or silver. A governing authority would often make metal currency coins by placing a mark on the metal that served as a guarantee of the weight and purity of the metal. With a commodity item currency object, the commodity item object will retain its intrinsic value as a commodity item even if it is not used as a medium of exchange to pay for goods or services. Thus, for example, a commodity currency object that is a gold coin will still retain the value of the gold even if it is melted down and no longer a coin. Evolving from the use of commodity object currencies were representative currency objects. Merchants or banks would issue written receipts to their depositors which were exchangeable for physical commodity items deposited with them (e.g. gold or silver coins). Such paper receipts became accepted as a means of payment by merchants. Merchants could exchange the receipt they had received in payment for the commodity items deposited with the issuing merchant or bank. Such privately issued written receipts used as a medium of exchange came to be a currency object known as a representative currency object. Representative currency objects helped commercial parties to a transaction avoid the inconvenience and expense of having to store, secure, transport and exchange typically heavier and bulkier physical commodity currency objects when conducting their transactions. The written receipts issued by private banks exchangeable for commodity items deposited in the bank evolved into what came to be known as the banknote. A written banknote is a type of negotiable promissory note, made by a bank, that any bearer of the banknote can exchange on demand for the physical commodity items on deposit with the issuing bank. Banknotes were originally issued by private commercial banks, who were legally required by the governing authority of the jurisdiction that they operated in to exchange the banknotes for the legal tender of the governing authority (usually gold or silver coins minted by the governing authority) whenever the banknote was presented to the chief cashier of the issuing bank. The commercial banknotes traded at face value in the markets served by the issuing bank. The commercial banks issuing banknotes thus had to ensure that they could always pay customers in legal tender (e.g. the precious metal coins minted by the governing authority) when a person presented commercial banknotes for payment. Eventually, national banknotes issued by the central banks of the governing authority for a jurisdiction came to mostly replace the private commercial banknotes. In contrast to a private commercial bank, a governing authority central bank possesses a monopoly on increasing the monetary base in the governing authority's jurisdiction, and also mints the currency objects which serve as legal tender in the governing authority's jurisdiction. Historically, many governing authority central banks also followed the practice of basing t