Cryptographic Security for Electronic Transactions

US20160203477: Modernity Financial Holdings Ltd

Various embodiments include a wallet service that processes a cryptocurrency deposit into a cryptocurrency wallet account maintained in a wallet service system. The wallet service can receive an authentication parameter to authenticate the cryptocurrency deposit and record a transfer of a cryptocurrency amount from a first cryptocurrency address to a second cryptocurrency address. In response to and substantially immediately after authenticating the authentication parameter, the wallet service can exchange the cryptocurrency amount associated with the cryptocurrency deposit for fiat currency proceeds and deposit the fiat currency proceeds into a fiat reserve account. The wallet service can then associate exchangeable credit equal to the fiat currency proceeds to the cryptocurrency wallet account. In response to receiving a user-initiated request to spend a target portion of the exchangeable credit, the cryptocurrency wallet service can exchange, from the fiat reserve account, for cryptocurrency proceeds equal to the target portion.

System and method for user authentication using crypto-currency transactions as access tokens

US20160162897: Filing Cabinet LLC

A method for crypto-currency transaction authentication includes receiving, by a computing device, from a data storage device associated with a first entity, an authentication information demonstrating possession of a private key, retrieving, by the computing device, from an audit chain, at least one crypto-currency transaction to an address associated with a public key corresponding to the private key, and authenticating, by the computing device, based on the retrieved crypto-currency transaction, the first entity.