Method of tokenization of asset-backed digital assets

Abstract

A system and method for issuing, managing, and transferring asset-backed asset tokens is provided. The system comprises a mint component and a commerce component. The commerce component provides an interface through which customers can purchase asset tokens. The commerce component interfaces with the mint component to control the issuance of the asset tokens in the name of the purchasing customers.

1 . A method performed by a computing system for tracking provenance of gold as the gold moves through a supply chain from a mine to a refinery, the method comprising:
 receiving from a miner of gold a request to issue a gold token, the request identifying a quantity of the gold, a purity of the gold, a serial number for the gold, and a characteristic of the mine from which the gold was extracted;   creating a gold token that identifies the quantity, the purity, the serial number, the owner based on the mine, and the characteristic and that is associated with a smart contract for controlling transfers in ownership of the gold as the gold moves through the supply chain;   recording the created gold token in a distributed ledger;   receiving a purchase request to purchase gold, the purchase request identifying the quantity, the purity, the characteristic, and a new owner;   identifying the gold token recorded in the distributed ledger as satisfying the purchase request; and   sending to the smart contract a request to transfer ownership of the gold of the identified gold token to the new owner   wherein the quantity, the quality, the characteristic, and the ownership of the gold can be tracked from the mine to the refinery based on the recorded gold tokens for the gold.   
     
     
         2 . The method of  claim 1  wherein the smart contract records a transaction to transfer ownership of the gold. 
     
     
         3 . The method of  claim 1  further comprising, upon receiving another purchase request to purchase gold, the other purchase request identifying the quantity, the purity, the characteristic, and another new owner, reserving the quantity of gold having the purity and the characteristic from an inventory of gold held by an issuance provider. 
     
     
         4 . The method of  claim 3  further comprising identifying the gold token recorded in the distributed ledger as satisfying the other purchase request and sending a request to the smart contract to transfer ownership of the gold of the identified gold token to the other new owner. 
     
     
         5 . The method of  claim 3  wherein the reserving includes, when the inventory does not include sufficient available gold of the quantity, the purity, and the characteristic identified by the other purchase request, coordinating purchase of gold of the quantity, the purity, and the characteristic identified by the other purchase request from a dealer wherein the purchased gold is the reserved gold. 
     
     
         6 . The method of  claim 1  wherein the receiving of the purchase request, the identifying of the recorded gold token, and the sending to the smart contract are performed by a management component of a provider and the creating of the gold token and the reserving of gold are performed by an issuance component of the provider. 
     
     
         7 . The method of  claim 1  wherein the blockchain is an official record of ownership of gold. 
     
     
         8 . One or more computing systems for tracking ownership of assets that back asset-backed tokens, the one or more computing systems comprising:
 one or more computer-readable storage mediums storing computer-executable instructions for controlling the computing system to:
 receive an issuance request to issue an asset-based token, the issuance request identifying a quantity, a characteristic, and an owner of the asset; 
 create an asset-backed token that identifies the quantity, the characteristic, and the owner and that is associated with a smart contract for controlling transfers in ownership of the asset as the asset moves through a supply chain; 
 record the asset-backed token in a distributed ledger; 
 receive a purchase request to purchase an asset, the purchase request identifying the quantity, the characteristic, and a new owner; 
 identify the recorded asset-backed token as satisfying the purchase request; and 
 send to the smart contract a request to transfer ownership of the asset to the new owner so that the smart contract records a transaction in the distributed ledger identifying the recorded asset-back token and the new owner 
 wherein ownership of the asset can be tracked via the distributed ledger; and 
   one or more processors for executing the computer-executable instructions stored in the one or more computer-readable storage mediums.   
     
     
         9 . The one or more computing systems of  claim 8  wherein the computer-executable instructions further control the one or more computing systems to, upon receiving another purchase request to purchase an asset that identifies the quantity, the characteristic, and another new owner, reserve the quantity of the asset having the characteristic from an inventory of the asset. 
     
     
         10 . The one or more computing systems of  claim 9  wherein the computer-executable instructions further control the one or more computing systems to send a request to the smart contract to transfer ownership of the asset of the identified asset-backed token to the other new owner. 
     
     
         11 . The one or more computing systems of  claim 9  wherein the computer-executable instructions further control the one or more computing systems to, when the inventory does not have available the quantity of the asset having the characteristic, coordinate purchase of the quantity of the asset having the characteristic from a dealer. 
     
     
         12 . The one or more computing systems of  claim 8  wherein new owner can take possession of the quantity of the asset having the characteristic from an inventory of the asset. 
     
     
         13 . The one or more computing systems of  claim 8  wherein the asset is gold. 
     
     
         14 . The one or more computing systems of  claim 13  wherein the characteristic is of the mine that mined the gold. 
     
     
         15 . One or more computing systems for selling of an asset that is backed by an asset-backed token, the one or more computing systems comprising:
 one or more computer-readable storage mediums storing computer-executable instructions for controlling the computing system to:
 receive a purchase order to purchase a quantity of the asset, the purchase order identifying a purchaser, the quantity, and payment information; 
 request that the quantity of the asset be reserved for the purchase; and 
 after the quantity of the asset is reserved,
 coordinate payment for the asset based on the payment information; and 
 record in a distributed ledger an asset-backed token that identifies for the quantity of the asset and an owner of the asset associated with the purchaser, the asset-backed token associated with a smart contract for receiving transfer requests to transfer ownership of the quantity of the asset to new owners and for recording in the distributed ledger a transaction for each transfer request that identifies the asset-backed token and the new owner of the quantity of the asset; 
 
 wherein the asset-backed token can be redeemed so that the current owner of the asset can take physical possession of the asset and
 wherein the distributed ledger tracks provenance of the asset; and 
 
   one or more processors for executing the computer-executable instructions stored in the one or more computer-readable storage mediums.   
     
     
         16 . The one or more computing systems of  claim 15  wherein the asset is gold that is identified by a serial number. 
     
     
         17 . The one or more computing systems of  claim 16  wherein the serial number identifies a mine from which gold dore relating to the gold was mined. 
     
     
         18 . The one or more computing systems of  claim 17  wherein the purchase order identifies a characteristic of the mine. 
     
     
         19 . The one or more computing systems of  claim 15  wherein the quantity is a fraction of the gold bar. 
     
     
         20 . The one or more computing systems of  claim 15  wherein the distributed ledger is a blockchain,