Patent WO-2017028828-A1 (WO)
Title: The transfer of digital currency encryption keys through the process of issuance, validation and devaluation of physical medium with multi-factor authorization, and the physical medium of encryption keys for digital currency to conduct this transfer technology
Inventor: SOBOTKA PETR
IPC: G06Q20/00
Filed: 2016-08-19
Abstract: A method of a transfer of the digital currency encryption keys through the process of issuance, validation and devaluation of physical medium with multi-factor authorization, wherein said medium distributed on the market as blank and to which belongs a second authorization factor (5A) safely stored with the manufacturer or integrated into the medium in form of a tamper-evident box, is loaded by an issuer using a SW application for the medium issuance and based on a first authorization factor (2A) generated by the issuer, an identifier of the medium and other data an address is derived and passed to the issuer to which he sends the balance of the digital currency in an amount equivalent to the denomination of the medium. Then, through the on-line service for the issuance of digital signatures, the issuer is on request granted the digital signature after meeting all formalities, in particular the authenticity of the medium piece and the transferred sum of the digital currency balance being equal to the denomination of the medium. The issuer then combines the digital signature with the first authorization factor using the software application for medium issuance and adds these data to the medium especially by print, hand-write or as a sticker. That way he activates the medium and makes it passable to the next holder, even repeatedly. The recipient carries out a visual inspection and verifies the medium using a software application for medium verification, especially the digital currency balance. Then this SW application verifies the authenticity of the digital signature (3A) after loading the first authorization factor (2A) and the digital signature (3A), the first authorization factor (2A) is validated, and the recipient compares the digitally signed data with the data visible on the medium. Subsequently, the recipient loads, using the software application for redemption of digital currency, all authorization factors (2A and/or 5A) available on this new duly issued physical medium in active state, possibly adds other authorization factors known to him, and compiles and authorizes an electronic transaction in the digital currency network to redeem funds in the electronic form to the private address of the recipient. The result is the transfer of encryption keys of digital currency through the process of issuance, validation and devaluation of physical medium with multi- factor authorization, and thus effecting a payment transaction between the issuer and the final recipient by digital currency. Part of the result is also a visibly devaluated medium. A physical medium of encryption keys for the digital currency to conduct the transfer of encryption keys through the process of issuance, validation and devaluation of the physical medium described in claim 1, wherein said medium is made of a flat plane base body of any shape (in particular a geometrical figure), and compact materials (especially plastics, paper, metals and their alloys) with one of its major plane surfaces identified with the unique alphanumeric identifier (1). This medium contains, depending on a particular model, applications of protective features against counterfeiting, with one or both major plane surfaces having box (2) for receiving the first authorization factor (2A) and box (3) for adding the digital signature (3A).