Patents by Inventor Sead Muftic

Sead Muftic has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Patent number: 10535065
    Abstract: A system for bankcard payments, wherein payments are peer-to-peer transactions between the cardholder and merchant without participation from any third party. The system uses standard bankcards and supports both debit and credit card payments. For authorization of payments the system uses a special, global, distributed, append-only, and secure public bankcard ledger. The entries in the ledger are virtual accounts used for bankcard payments, organized into account chains. The system provides security, privacy, anonymity, and untraceability for cardholders and their transactions. The system allows for various users of the system to participate in transactions using preexisting payment systems. In one embodiment, specially designed mobile software modules and an innovative payment protocol all for transactions to be made between users.
    Type: Grant
    Filed: June 11, 2016
    Date of Patent: January 14, 2020
    Inventor: Sead Muftic
  • Publication number: 20190158298
    Abstract: Systems and methods for managing public key certificates and supporting the users thereof. The certificates are cryptographically encapsulated objects that bind the identities of their owners to public keys and provide digital signature mechanisms for other users to verify the binding and correctness of other attributes of the certificate. Certificates include double links that reflect their validation and position in a public certificates ledger, thereby preventing insertion or removal of certificates in the ledger. Certificate protocols of the system include requesting issuance of certificates, issuing and returning certificates to their requesting users, storing certificates in the certificates ledger, requesting and distributing certificates to transaction partners, verification of certificates by transaction partners, and revoking certificates by their owners. These protocols are performed as direct peer-to-peer transactions between the members of the system.
    Type: Application
    Filed: January 28, 2019
    Publication date: May 23, 2019
    Inventor: Sead Muftic
  • Patent number: 10284379
    Abstract: Systems and methods for managing public key certificates and supporting the users thereof. The certificates are cryptographically encapsulated objects that bind the identities of their owners to public keys and provide digital signature mechanisms for other users to verify the binding and correctness of other attributes of the certificate. Certificates include double links that reflect their validation and position in a public certificates ledger, thereby preventing insertion or removal of certificates in the ledger. Certificate protocols of the system include requesting issuance of certificates, issuing and returning certificates to their requesting users, storing certificates in the certificates ledger, requesting and distributing certificates to transaction partners, verification of certificates by transaction partners, and revoking certificates by their owners. These protocols are performed as direct peer-to-peer transactions between the members of the system.
    Type: Grant
    Filed: January 28, 2019
    Date of Patent: May 7, 2019
    Assignee: Sead Muftic
    Inventor: Sead Muftic
  • Publication number: 20170357970
    Abstract: A system for bankcard payments, wherein payments are peer-to-peer transactions between the cardholder and merchant without participation from any third party. The system uses standard bankcards and supports both debit and credit card payments. For authorization of payments the system uses a special, global, distributed, append-only, and secure public bankcard ledger. The entries in the ledger are virtual accounts used for bankcard payments, organized into account chains. The system provides security, privacy, anonymity, and untraceability for cardholders and their transactions. The system allows for various users of the system to participate in transactions using preexisting payment systems. In one embodiment, specially designed mobile software modules and an innovative payment protocol all for transactions to be made between users.
    Type: Application
    Filed: June 11, 2016
    Publication date: December 14, 2017
    Inventor: Sead Muftic
  • Publication number: 20170346639
    Abstract: Systems and methods for managing public key certificates and supporting the users thereof. The certificates are cryptographically encapsulated objects that bind the identities of their owners to public keys and provide digital signature mechanisms for other users to verify the binding and correctness of other attributes of the certificate. Certificates include double links that reflect their validation and position in a public certificates ledger, thereby preventing insertion or removal of certificates in the ledger. Certificate protocols of the system include requesting issuance of certificates, issuing and returning certificates to their requesting users, storing certificates in the certificates ledger, requesting and distributing certificates to transaction partners, verification of certificates by transaction partners, and revoking certificates by their owners. These protocols are performed as direct peer-to-peer transactions between the members of the system.
    Type: Application
    Filed: May 24, 2016
    Publication date: November 30, 2017
    Inventor: Sead Muftic
  • Publication number: 20170344983
    Abstract: This invention describes a secure peer-to-peer payment system based on the use of a virtual currency, virtual accounts, and a public payments ledger. The virtual currency used in the system is stable, as it is pegged to real-world currencies with unit values equivalent to the national currency of the country of deployment. The virtual accounts are specially designed and cryptographically encapsulated objects that can be opened (created), initially loaded, cleared (suspended/terminated), and used (credited/debited) for direct account-to-account payments. Validation of payment transactions is supported by a public payments ledger that prevents the use of the system by illegal or unauthorized users, eliminates illegal payments, prevents the use of illegal currency, and double-spending. The ledger contains instances of virtual accounts, so validation of payments is instantaneous based on the validation of the balances of the two participating accounts.
    Type: Application
    Filed: May 30, 2016
    Publication date: November 30, 2017
    Inventor: Sead Muftic
  • Patent number: 9635000
    Abstract: The invention describes an identity management system (IDMS) based on the concept of peer-to-peer protocols and the public identities ledger. The system manages digital identities, which are digital objects that contain attributes used for the identification of persons and other entities in an IT system and for making identity claims. The identity objects are encoded and cryptographically encapsulated. Identity management protocols include the creation of identities, the validation of their binding to real-world entities, and their secure and reliable storage, protection, distribution, verification, updates, and use. The identities are included in a specially constructed global, distributed, append-only public identities ledger. They are forward- and backward-linked using the mechanism of digital signatures. The linking of objects and their chaining in the ledger is based on and reflect their mutual validation relationships.
    Type: Grant
    Filed: May 25, 2016
    Date of Patent: April 25, 2017
    Inventor: Sead Muftic
  • Patent number: 5943423
    Abstract: Smart token technology, using a smart card, PCMCIA card or any other medium containing storage or processing capability is used to facilitate a variety of secure business transactions, including those which might occur over an unsecured network such as the Internet. Application programs can obtain a variety of smart token services using a common application programming interface. Applications of the smart token technology to electronic cash, banking, credit, computer and network access, software distribution, medical handling and issuance of credentials are presented.
    Type: Grant
    Filed: December 15, 1995
    Date of Patent: August 24, 1999
    Assignee: Entegrity Solutions Corporation
    Inventor: Sead Muftic
  • Patent number: 5850442
    Abstract: A network of users and servers of a type found in the Internet system is extended to permit secure electronic commercial transactions to be accomplished. The network is extended to include a public key infrastructure and electronic transactions can be securely performed utilizing smart token technology. Conduct of a variety of common electronic business transactions over such an extended network is provided.
    Type: Grant
    Filed: March 26, 1996
    Date of Patent: December 15, 1998
    Assignee: Entegrity Solutions Corporation
    Inventor: Sead Muftic
  • Patent number: 5745574
    Abstract: A plurality of certification authorities connected by an open network are interrelated through an authentication and certification system for providing and managing public key certificates. The certification system with its multiple certification and its policies constitute a public key infrastructure facilitating secure and authentic transactions over an unsecure network. Security services for applications and users in the network are facilitated by a set of common certification functions accessible by well-defined application programming interface which allows applications to be developed independently of the type of underlying hardware platforms used, communication networks and protocols and security technologies.
    Type: Grant
    Filed: December 15, 1995
    Date of Patent: April 28, 1998
    Assignee: Entegrity Solutions Corporation
    Inventor: Sead Muftic