Multi-approval system using m of n keys to restore a customer wallet

Abstract

A customer device that includes at least one processor and at least one memory communicatively coupled to the at least one processor. The at least one memory stores a customer private key of N private keys associated with a customer. The customer device also includes at least one network interface communicatively coupled to the at least one processor and configured to communicate with at least one vault system, each of the at least one vault system storing a respective one of the N private keys. The at least one processor is configured to receive at least one private key of the N private keys from the at least one vault system. The at least one processor is also configured to perform at least one cryptographic action based on the at least one private key and the customer private key.

1 . A customer device, comprising:
 at least one processor;   at least one memory communicatively coupled to the at least one processor, the at least one memory storing a customer private key of N private keys associated with a customer; and   at least one network interface communicatively coupled to the at least one processor and configured to communicate with at least one vault system, each of the at least one vault system storing a respective one of the N private keys;   wherein the at least one processor is configured to:   receive at least one private key of the N private keys from the at least one vault system; and   perform at least one cryptographic action based on the at least one private key and the customer private key.   
     
     
         2 . The customer device of  claim 1 , wherein the at least one processor is further configured to generate and transmit the N private keys to the at least one vault system. 
     
     
         3 . The customer device of  claim 1 , wherein the N private keys are generated by at least one of the at least one vault system or the customer device. 
     
     
         4 . The customer device of  claim 1 , wherein the at least one processor is further configured to transmit identity data for the customer;
 wherein the customer is authenticated, based on the identity data, at each of the at least one vault system or at an identity services provider.   
     
     
         5 . The customer device of  claim 4 , wherein the identity data comprises biometric data. 
     
     
         6 . The customer device of  claim 1 , wherein the at least one cryptographic action comprises:
 identifying data to be encrypted or decrypted; and   encrypting or decrypting the data based on the at least one private key and the customer private key.   
     
     
         7 . The customer device of  claim 1 , wherein the at least one cryptographic action comprises:
 deriving N public transaction keys from the N private keys; and   generating a multi-approval transaction address based on the N public transaction keys;   wherein at least M of the N private keys are required to transact from the multi-approval transaction address.   
     
     
         8 . The customer device of  claim 1 , wherein the at least one cryptographic action comprises:
 receiving funds into a generated transaction address as part of a transaction; and   transmitting, from the customer device, the transaction to a node implementing a distributed ledger for recording on the distributed ledger.   
     
     
         9 . The customer device of  claim 1 , wherein the at least one cryptographic action comprises:
 generating, at the customer device, a transaction; and   signing the transaction, at the customer device, using the at least one private key and the customer private key.   
     
     
         10 . The customer device of  claim 9 , wherein the transaction is a sweeping transaction that transfers all funds from at least one input transaction address in a customer wallet to a new transaction address. 
     
     
         11 . A method performed by a customer device communicating with at least one vault system, each of the at least one vault system storing a respective one of N private keys associated with a customer, the method comprising:
 storing, at the customer device, a customer private key of the N private keys;   receiving at least one private key of the N private keys from the at least one vault system; and   performing at least one cryptographic action based on the at least one private key and the customer private key.   
     
     
         12 . The method of  claim 11 , further comprising generating and transmitting the N private keys to the at least one vault system. 
     
     
         13 . The method of  claim 11 , wherein the N private keys are generated by at least one of the at least one vault system or the customer device. 
     
     
         14 . The method of  claim 11 , further comprising transmitting identity data for the customer;
 wherein the customer is authenticated, based on the identity data, at each of the at least one vault system or at an identity services provider.   
     
     
         15 . The method of  claim 14 , wherein the identity data comprises biometric data. 
     
     
         16 . The method of  claim 11 , wherein performing the at least one cryptographic action comprises:
 identifying data to be encrypted or decrypted; and   encrypting or decrypting the data based on the at least one private key and the customer private key.   
     
     
         17 . The method of  claim 11 , wherein performing the at least one cryptographic action comprises:
 deriving N public transaction keys from the N private keys; and   generating a multi-approval transaction address based on the N public transaction keys;   wherein at least M of the N private keys are required to transact from the multi-approval transaction address.   
     
     
         18 . The method of  claim 11 , wherein performing the at least one cryptographic action comprises:
 receiving funds into a generated transaction address as part of a transaction; and   transmitting, from the customer device, the transaction to a node implementing a distributed ledger for recording on the distributed ledger.   
     
     
         19 . The method of  claim 11 , wherein performing the at least one cryptographic action comprises:
 generating, at the customer device, a transaction; and   signing the transaction, at the customer device, using the at least one private key and the customer private key.   
     
     
         20 . The method of  claim 19 , wherein the transaction is a sweeping transaction that transfers all funds from at least one input transaction address in a customer wallet to a new transaction address. 
     
     
         21 . The method of  claim 11 , wherein performing the at least one cryptographic action comprises signing a transaction, using the at least one private key and the customer private key, transferring funds from a multi-approval transaction address in a customer wallet; and
 wherein the multi-approval transaction address in the customer wallet is generated at a currency conversion system, using a hashing function, based on the N private keys;   wherein the currency conversion system transmits the multi-approval transaction address to the customer device.   
     
     
         22 . A customer device, comprising:
 at least one processor;   at least one memory communicatively coupled to the at least one processor, the at least one memory storing a customer private key of N private keys associated with a customer; and   at least one network interface communicatively coupled to the at least one processor and configured to communicate with at least one vault system, each of the at least one vault system storing a respective one of the N private keys;   wherein the at least one processor is configured to:   receive at least one private key of the N private keys from the at least one vault system; and   perform at least one of: (1) decrypt encrypted data using the at least one private key and the customer private key; (2) encrypt data based on a public key derived from the at least one private key and the customer private key; (3) generate a transaction address using a hashing function and based on a public transaction key derived from the at least one private key and the customer private key; or (4) cryptographically sign a transaction using the at least one private key and the customer private key.