Central Bank Digital Currency for Phones and Watches
This patent describes a system for using a central bank-issued digital currency on mobile devices, generating a special 3D code for payments that can be scanned or read via near field communication.
Original patent title: “Digital currency (virtual payment cards) issued by central bank for mobile and wearable devices”
This patent describes a system for using a central bank-issued digital currency on mobile devices, generating a special 3D code for payments that can be scanned or read via near field communication. Granted to Individual in 2018 with 29 claims and 35 forward citations.
Key facts
Coverage
What does this patent actually cover?
This patent outlines a system for managing and transferring a digital currency, called ZCU, issued by a central authority. A user on a mobile or wearable device can request to issue digital currency. The system prompts the user for authentication, then accesses their account, which holds payment data. When a merchant requests payment, the system matches merchant IDs, authorizes the transaction by transferring the digital currency from the user's account to the merchant's. This transfer can happen by displaying a special 3D optical code (a 'zcode') on the device's screen for scanning, or via near field communication (NFC). Once the payment is complete, the digital currency is deactivated. The zcode itself is described as a 3D machine-readable code with specific visual elements like a 'round global circle' and 'squares arranged in a round circle grid'.
The gap
What does this patent NOT cover?
- Digital currency systems not controlled by a central issuer (e.g., decentralized cryptocurrencies like Bitcoin).
- Payment methods that do not involve generating and displaying an optical code or using NFC.
- Transactions where the merchant ID does not match the user's requested merchant.
- Digital currency that is not a 'Z currency' (ZCU) as defined in the patent.
- Systems that do not involve a mobile or wearable device for the transaction.
These exclusions are unique to PatentBrief — derived from the actual claim language, not patent-office boilerplate.
What made this novel
The innovation lies in the specific method of generating and using a '3D zcode' for secure, single-use or multiple-use digital currency transactions, designed to be readable by standard devices and incorporating features to prevent double-spending and manage transaction fees.
Schematic visualization of the patent's claim structure. Hand-drawn diagrams in progress for each landmark patent.
Where you've seen this
Real-world examples
Hypothetical central bank digital currency systems.
Mobile payment applications.
Wearable payment devices.
Why it matters
The bigger picture
This patent touches on the emerging field of Central Bank Digital Currencies (CBDCs) and how they might be implemented for everyday transactions. While still largely theoretical, CBDCs aim to provide a digital form of a country's fiat currency, potentially offering greater efficiency and control compared to existing payment systems.
Filed
February 1, 2018
Granted
December 4, 2018
Market context
Who's building on this
Companies in this space
The concept of central bank digital currencies is being explored by numerous central banks globally, including the People's Bank of China (with its digital yuan pilot) and the European Central Bank. Technology companies are also developing infrastructure for potential CBDC implementations.
Market impact
The filing of this patent reflects early conceptualization and patenting activity around central bank digital currencies. As CBDC research and development progresses globally, patents like this could influence the technical standards and implementation strategies adopted by financial institutions and governments.
Claim 1 — Plain English
What this patent covers
This patent outlines a system for managing and transferring a digital currency, called ZCU, issued by a central authority. A user on a mobile or wearable device can request to issue digital currency. The system prompts the user for authentication, then accesses their account, which holds payment data. When a merchant requests payment, the system matches merchant IDs, authorizes the transaction by transferring the digital currency from the user's account to the merchant's. This transfer can happen by displaying a special 3D optical code (a 'zcode') on the device's screen for scanning, or via near field communication (NFC). Once the payment is complete, the digital currency is deactivated. The zcode itself is described as a 3D machine-readable code with specific visual elements like a 'round global circle' and 'squares arranged in a round circle grid'.
The clever bit
The innovation lies in the specific method of generating and using a '3D zcode' for secure, single-use or multiple-use digital currency transactions, designed to be readable by standard devices and incorporating features to prevent double-spending and manage transaction fees.
What it does not cover
- Digital currency systems not controlled by a central issuer (e.g., decentralized cryptocurrencies like Bitcoin).
- Payment methods that do not involve generating and displaying an optical code or using NFC.
- Transactions where the merchant ID does not match the user's requested merchant.
- Digital currency that is not a 'Z currency' (ZCU) as defined in the patent.
- Systems that do not involve a mobile or wearable device for the transaction.
Patent timeline
Application submitted to the patent office
Application published, typically 18 months after filing
Patent officially issued
PatentBrief Score
Impact Score
Strong
Citation count
31/40
Moderately cited
Claim breadth
19/20
Very broad protection
Recency
10/20
Granted 5–10 years ago
Assignee scale
0/20
Independent or smaller assigneeassigneeThe entity that owns the patent — usually the inventor's employer or a company.Read more →
PatentBrief Impact Score — based on citation count, claim breadth, recency, and assignee scale. Not a legal assessment.
Heuristic Value Estimate
What this patent might be worth
$234K – $749K
Midpoint $468K · 11.6 yr remaining · industry ×1.6
Heuristic only — blends forward/backward citation counts, claim scope, time remaining, litigation history, and CPC-derived industry baseline. Real valuations need a professional appraisal.
The original legal language
Original claims
29 claims as filed with the patent office.
Concepts involved
Citations
Patent lineage
Cite this patent
Xing, Z. T., Zhou, A. H. B., & Zhou, T. T. G. (2018). Central Bank Digital Currency for Phones and Watches (U.S. Patent No. 10,147,076). U.S. Patent and Trademark Office. https://patentbrief.org/patent/us/10147076/airbnb-experiences
Auto-generated from the patent record. Double-check author order and the issue date against the official USPTO document before submitting.
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Common Questions
Frequently Asked Questions
What does Central Bank Digital Currency for Phones and Watches cover?
This patent describes a system for using a central bank-issued digital currency on mobile devices, generating a special 3D code for payments that can be scanned or read via near field communication.
Who owns patent US 10147076?
Individual owns this patent, granted in 2018.
When does this patent expire?
This patent is expected to expire on December 4, 2038, when the invention enters the public domain.
What is patent US 10147076 cited by?
This patent has been cited by 35 later patents that build on its ideas.
What problem does this patent solve?
This patent touches on the emerging field of Central Bank Digital Currencies (CBDCs) and how they might be implemented for everyday transactions. While still largely theoretical, CBDCs aim to provide a digital form of a country's fiat currency, potentially offering greater efficiency and control compared to existing payment systems.
What does this patent NOT cover?
Digital currency systems not controlled by a central issuer (e.g., decentralized cryptocurrencies like Bitcoin).
Same assignee
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