New patents are issued by the USPTO on Tuesdays. This week's Spotlight Patents continue the theme of blockchains (smart contracts, distributed ledgers) and rights management broadly construed. Assigned to Mythcial, the first patent addresses techniques for distributions by an automated electronic networked central clearinghouse. Assigned to Paypal, the second patent addresses techniques for using keys with targeted access to the blockchain to verify and authenticate identity.
10,850,202, "Systems and methods for distributions by an automated electronic networked central clearinghouse," assigned to Mythical.
Systems and methods for controlling distributions by an automated electronic networked central clearinghouse are disclosed. Exemplary implementations may: receive an exchange request that indicates a first user offers a first digital asset for a reversible exchange on a fiat-currency-based online exchange platform; obtain asset-specific distribution rights for the first digital asset; receive exchange information regarding the reversible exchange with an exchanging user; monitor, during a waiting period, whether any actions taken by the exchanging user determine reversibility of the reversible exchange, or whether the waiting period for reversibility times out; based on a time-out or a determination regarding reversibility, either (i) transfer the ownership of the first digital asset to the first user, or (ii) clear the reversible exchange by non-temporarily transferring the ownership to the exchanging user, and by distributing benefits in accordance with the asset-specific distribution rights.
10,855,667, "Using keys with targeted access to the blockchain to verify and authenticate identity," assigned to Paypal.
Systems and methods for accessing credentials from a blockchain are provided. A computing device requests for a server to process a transaction. In response to the request, the server transmits a server public key to the computing device. A key generator of the computing devices uses the user private key and the server public key to generate a user public key. The user public key includes permissions to access credentials that are stored on blockchain. The server receives the user public key and generates a request for credentials to blockchain. The request includes the user public key and the server private key. The blockchain receives the request and generates an identity token. The identity token includes credentials that are specified in the user public key. The blockchain transmits the identity token to the server and the server uses the identity token to processes the transaction.