Computer Method And Apparatus For Administering A Commodity Material Transaction Via A Distributed Ledger
A computer method for administering a commodity material transaction includes receiving a proof of ownership of a distinguishable instance of a commodity material, generating a smart contract representing ownership of the commodity material, issuing electronic tokens corresponding to ownership of the distinguishable instance of the commodity material, and transferring at least a portion of the electronic tokens to a first user wallet. The computer method may include receiving, via a first graphical user interface (GUI) from a seller, an ask price for a distinguishable instance of the commodity material, denominated in a first currency, and receiving, via a second GUI from a buyer, a bid price for the quantity of the commodity material, denominated in a second currency. The computer method includes determining that the ask price and the bid price meet a match criterion. The computer method includes receiving a first cryptocurrency transaction corresponding to the bid price from a buyer wallet into a transaction wallet, and transmitting a second cryptocurrency transaction corresponding to the ask price from the transaction wallet to a seller wallet. A computer system, method, and non-transitory medium provides for conveying value of a commodity using a distributed ledger.
Claim CLM-00001. 1. A computer method for administering a commodity material transaction, comprising:
receiving, via a first graphical user interface (GUI) from a seller, an ask price for a quantity of a commodity material, denominated in a first currency; receiving, via a second GUI from a buyer, a bid price for the quantity of the commodity material, denominated in a second currency; determining that the ask price and the bid price meet a match criterion; receiving a first cryptocurrency transaction corresponding to the bid price from a buyer electronic wallet into a transaction electronic wallet; transmitting a second cryptocurrency transaction corresponding to the ask price from the transaction electronic wallet to a seller electronic wallet; issuing a distributed ledger token corresponding to the quantity of the commodity material; and transmitting the distributed ledger token to the buyer electronic wallet.
Claim CLM-06-18. 6-18. (canceled)
Claim CLM-20-21. 20-21. (canceled)
Claim CLM-27-31. 27-31. (canceled)
Claim CLM-40-42. 40-42. (canceled)
Claim CLM-00043. 43. A computer method for conveying value associated with a commodity, comprising:
issuing, with a server computer, a distributed ledger token corresponding to a distinguishable instance of a commodity; and outputting, with a web server for display via a graphical user interface (GUI) on a user device, information corresponding to the distributed ledger token and the distinguishable instance of the commodity; wherein the distributed ledger token represents ownership of the distinguishable instance of the commodity.
Claim CLM-44-47. 44-47. (canceled)
Claim CLM-53-54. 53-54. (canceled)
Claim CLM-56-59. 56-59. (canceled)
Claim CLM-61-69. 61-69. (canceled)
Claim CLM-73-81. 73-81. (canceled)
Claim CLM-00082. 82. A computer method for transferring an interest in a commodity, comprising:
receiving, into a server computer from a first user via a graphical user interface (GUI) displayed on a remote user device and a network, a private key and an image of a proof of ownership of a distinguishable instance of a commodity; generating a smart contract conveying conditional ownership of the distinguishable instance of the commodity; issuing, with the server computer, a first quantity of electronic tokens on a distributed ledger, the first quantity of electronic tokens carrying the smart contract such that the first quantity of electronic tokens are capable of collectively representing ownership of the distinguishable instance of the commodity; transferring at least a portion of the first quantity of electronic tokens to a first user electronic wallet corresponding to the first user; receiving, from the first user via the graphical user interface (GUI) displayed on the remote user device, an offer to sell at least a portion of the first quantity of electronic tokens; listing at least a portion of the first quantity of electronic tokens on an electronic token exchange; and transferring at least a portion of the first quantity of electronic tokens from the first user electronic wallet to a buyer electronic wallet using an exchange settlement service disposed on a second server computer.
