Patent ID: 11915213
Assignee: TRADOVE, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 14:
15. A nontransitory computer readable storage medium including instructions which, when executed by one or more processors of a system, cause the system to perform a method comprising:
providing a plurality of consortium blockchains, each consortium blockchain comprising a plurality of nodes communicatively coupled together and embodied in physical servers, and each consortium blockchain configured to process transactions involving a different one of a plurality of types of central bank digital currency (CBDC), each different type of CBDC minted by a different central bank, each central bank operating as a financial institution configured to mint a different type of CBDC, and each central bank maintaining one or more of a general digital wallet corresponding to a group of commercial banks, and plurality of private digital wallets each corresponding to a different commercial bank;
maintaining, by each of a plurality of servers hosted by the respective commercial banks, each commercial bank operating as a commercial financial institution, a private digital wallet;
hosting, by each of a plurality of commercial banks, one or more nodes of one or more of the plurality of consortium blockchains;
wherein the commercial banks and the central banks are configured to transact with one another by transferring CBDC between their respective digital wallets via one or more of the consortium blockchains;
wherein one commercial bank of the group of commercial banks a transaction request from a non-participating partner bank (“NPB”) for execution on one or more of the consortium blockchains; wherein an NPB is located in the same jurisdiction as the commercial bank, or located outside the jurisdiction as the commercial bank; and further wherein the NPB transmits such requests to the commercial bank using one or more of an account, a digital wallet, and an API;
providing a first subchain blockchain hosted entirely on one or more nodes maintained by a first commercial bank, wherein the first subchain blockchain is operatively coupled with (1) a second subchain blockchain hosted on a node maintained by a second commercial bank, (2) a first consortium blockchain, and (3) a second consortium blockchain;
wherein the first subchain blockchain and the second subchain blockchain together process transactions between digital wallets of network participants where a payer network participant is a customer of the commercial bank hosting the first subchain blockchain and the payee network participant is a customer of the commercial bank hosting the second subchain blockchain,
wherein when a first customer of a first participating commercial bank (“PCB”) or first non-participating partner bank (“NPB”) in a first jurisdiction without its own central bank digital currency (“CBDC”) submits a request to transact with a second customer of a second NPB or second NPB in a second jurisdiction without its own CBDC, the system is configured to process the transaction over a first consortium blockchain leveraging a third jurisdiction's CBDC through one or more nodes or one or more accounts, digital wallets, and API connections to one or more PCB(s) hosting one or more nodes of the first consortium blockchain, the one or more PCB(s) and the third jurisdiction's CBDC serving as intermediaries between the first NPB and the second NPB;
wherein processing the transaction over the first consortium blockchain comprises: (1) the first PCB or NPB debiting a designated amount of fiat currency of the first jurisdiction from one or more of the first customer's account, (2) the first PCB or NPB converting the designated amount of fiat currency of the first jurisdiction into an amount of a first type of CBDC, the first type of CBDC corresponding to the type of CBDC issued in the commercial bank's jurisdiction; (3) the first PCB or NPB, or the first PCB in response to a communication from the first NPB, issuing a command to cause the first consortium blockchain to send the amount of the first type of CBDC to the second PCB or NPB in the second jurisdiction; (4) the second PCB or NPB converting the amount of the first type of CBDC into an amount of fiat currency of the second jurisdiction; and (5) the second PCB or NPB crediting the amount of fiat currency of the second jurisdiction into one or more of the second customer's account.