Using a nested random number-based security ecosystem for block chains for electronic cash tokens and other embodiments

Abstract

Methods, systems, and apparatuses for block chain security schemes for electronic cash tokens are described herein.

What is claimed is: 
     
         1 . An Electronic Token (ET) system, comprising:
 a block chain that securely documents a financial transaction between a plurality of users and between the plurality of users and a plurality of authorized financial institutions,   the block chain configured for the creation of ETs, by at least one of the plurality of authorized financial institutions, in exchange for funds or an equivalent monetary value of the ETs,   wherein a user of the plurality of users purchases the ETs from at least one authorized financial institution of the plurality of authorized financial institutions,   wherein a financial transfer of the ETs from a first user of the plurality of users that initially purchases the ETs to a second user of the plurality of users, and the redemption of ETs by the second user through the second user's authorized financial institution communicating with another authorized financial institution of the plurality of authorized financial institutions that holds the original funds to transfer the funds to a bank account of the second user requesting the financial transfer, and   wherein all transactions and their ownership provide a traceable ET chain that is secure and irreversible, by using a write-protected memory, the write-protected memory comprising at least one of:   a write-once, read many (WORM) memory; or   a read-only memory (ROM).   
     
     
         2 . The system of  claim 1 , wherein the block chain utilizes a transaction block and an ownership block, wherein the ownership block is identified by two random number identifications (RNIDs), the first of the two RNIDs being a newly-generated ownership RNID (RNIDo) that an ET software app executing on a computing device retains for subsequent transactions, the RNIDo being associated with the ET value of the ownership block in a secure RNID database, and the second of the two RNIDs being an RNID of the transaction block (RNIDt), the transaction block generating the ownership block. 
     
     
         3 . The system of  claim 1 , wherein redemption of an ET is performed by traversing the block chain backward to the source monetary transaction to verify the authenticity of the redemption which then authorizes the issuance of funds for the ET. 
     
     
         4 . The system of  claim 2 , wherein creation of the transaction block and the ownership block are performed securely, to prevent unauthorized access to and use of the ET system, via a public/private key encryption security protocol to exchange data files,
 wherein a user of the plurality of users or an authorized financial institution of the plurality of authorized financial institutions who desires to use the ET system, logs onto a public ET web site with the computing device and downloads the ET software application,   wherein the ET software application is configured to prompt the user to enter a device PIN (Personal Identification Number) and collects biometric data,   wherein the biometric data is used for future authentication of an authorized user of the computing device, which prevents unauthorized users from accessing the ET software application executing on the computing device, thereby resulting in a two-step authentication for log-on to the block chain, and   wherein the ET software application is configured to first recognize the user as an authorized user, and, subsequently, the ET system log-on recognizes the at least one of the computing device or the ET software application password as legitimate, after which the user is ready to use the ET system.   
     
     
         5 . The system of  claim 4 , wherein the ET software application is a “smart” software application configured to receive and analyze voice input. 
     
     
         6 . The system of  claim 4 , wherein an authorized financial institution of the plurality of authorized financial institutions, participate with the ET system by downloading banking ET system software to set up ET accounts, and ET cash accounts, to enable the buying and selling ETs,
 wherein at least one of:
 the ET accounts are owned by the plurality of users, and are held by their respective authorized financial institutions of the plurality of authorized financial institutions, and are accessible on-line by the plurality of users; or 
 the ET cash accounts are owned by the plurality of authorized financial institutions but held in the respective names of the plurality of users, and accessible on-line as read-only by the plurality of users, 
   wherein the ETs are created electronically by the authorized financial institution, which converts funds to the equivalent ET value when ETs are purchased and converts ETs to equivalent funds when ETs are sold.   
     
     
         7 . The system of  claim 6 , wherein the banking ET system software has the capability for any user of the plurality of users to redeem their respective ETs for funds at any authorized financial institution of the plurality of authorized financial institutions,
 wherein a user of the plurality of users requests their ET software application to redeem a certain ET value to the monetary equivalent and deposit the funds into any of their financial accounts.   
     
     
         8 . The system of  claim 4 , wherein the ET system comprises an exclusive secure RNID database ecosystem maintained by a separate independent institution for all authorized financial institutions, and enabling the authorized financial institutions in the creation of all transfer and ownership blocks, as well as the provision of all RNIDs and time stamps,
 wherein the independent institution comprises an Electronic Token Transfer Treasury (ETTT).   
     
     
         9 . The system of  claim 8 , wherein the ETTT handles all authorized financial institutions' ET transactions instead of each authorized financial institution of the plurality of authorized financial institutions,
 wherein a complete block chain transaction record is created and kept by the ETTT, with real time updates to both a bank account of a user of the plurality of users and the user's ET software applications as transactions occur, allowing in effect the transfer of funds between ET software applications.   
     
     
         10 . The system of  claim 9 , wherein once in the block chain, funds for ETs or ETs for funds transactions are conducted outside the authorized financial institutions, which enables the ET value “float”. 
     
     
         11 . The system of  claim 1 , wherein the system is configured for a nested Random Number-Based Security Ecosystem for tracking items through a retail chain from point of manufacture, through transportation, into distribution centers, and on to retail store shelves. 
     
     
         12 . The system of  claim 11  wherein the nested Random Number-Based Security Ecosystem items are aggregated for shipping into nested boxes stacked onto a pallet and put into a vehicle, at which time a “nesting” algorithm is employed. 
     
     
         13 . A method implemented by a block chain, comprising:
 securely documenting a financial transaction between a plurality of users and between the plurality of users and a plurality of authorized financial institutions; and   creating an electronic token (ET) by at by at least one of the plurality of authorized financial institutions, in exchange for funds or an equivalent monetary value of the ETs,   wherein a user of the plurality of users purchases the ETs from at least one authorized financial institution of the plurality of authorized financial institutions,   wherein a financial transfer of the ETs from a first user of the plurality of users that initially purchases the ETs to a second user of the plurality of users, and the redemption of ETs by the second user through the second user's authorized financial institution communicating with another authorized financial institution of the plurality of authorized financial institutions that holds the original funds to transfer the funds to a bank account of the second user requesting the financial transfer, and   wherein all transactions and their ownership provide a traceable ET chain that is secure and irreversible, by using a write-protected memory, the write-protected memory comprising at least one of:   a write-once, read many (WORM) memory; or   a read-only memory (ROM).