Gridplus Inc.

Daniel Wayne Veenstra

Karl Joseph Kreder, Iii

Secure conditional transfer of cryptographic data allows transfer of cryptographically-based data from one party to another while mitigating failure of a counterparty to perform. A first party uses a first device to send a proposal to a second party's device. If the proposal is accepted, it is signed by the second device. A secure channel is established between the devices that also attests to their compliance during processing. Transaction identifiers associated with the proposal and other information are exchanged. Once exchanged, the first device creates and sends first transfer data (that may be signed) to the second device. The second device receives and determines the first transfer data is valid. In response, the second device creates and sends second transfer data (that may be signed) to the first device. If a communication or other failure prevents reciprocation by the second party, others may verify the transaction and confirm the failure.

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AUSTIN, TX, United States of America

Daniel Wayne Veenstra