FIELD

[0001] The embodiments herein generally relate to transferring of digital currencies, digital assets and crypto currencies. More particularly, the disclosure relates toa system and method for performing cash instrument transactions and transferring crypto-currency.

BACKGROUND AND PRIOR ART

[0002] Digital transactions have widely replaced the need for manual and physical transactions through cash. Further, there are various automating tools that are available for facilitating digital transactions between various entities.

[0003] Conventionally, digital transactions are being performed using fiat currencies through various e-wallets, and payment systems. Various companies and entities use many such tools for facilitating transactions with users. The digital tools for performing transactions facilitate instant transfer of fiat currencies and provide a single platform for enabling secured transactions of a designated fiat currency.

[0004] However, digital transactions cannot be restricted to fiat currency alone, as presently, there are various digital assets and digital tokens such as cryptocurrency that are utilized. Further, the existing payment systems facilitate transactions of either transferring or receiving the same fiat currency, and do not enable users in receiving different types of digital currencies such as digital assets and digital tokens such as cryptocurrency based on cash instrument transactions performed by the user. [0005] Therefore, there is a need for a system and method facilitating digital currency transactions based on cash instrument transactions performed by a user. Moreover, there is a need for a system and method forperforming cash instrument transactions involving digital currencies. Furthermore, there is a need for providing a single platform facilitating digital asset transactions, specifically transactions related to cryptocurrency.

OBJECTS

[0006] Some of the objects of the present disclosure are described herein below: [0007] The main objective of the present disclosure is to provide a system and method for performing cash instrument transactions involving digital currency, digital assets and crypto currencies.

[0008] Another objective of the present disclosure is to provide a system and method for facilitating transactions of both currency and digital currency.

[0009] Still another objective of the present disclosure is to provide a system and method of a single and secured system for transferring crypto-currency based on cash instrument transactions.

[00010] Yet another objective of the present disclosure is to provide a system and method providing faster, simpler and secured way of performing cash instrument transactions involving digital currency using block chain.

[00011] The other objectives and advantages of the present disclosure will be apparent from the following description when read in conjunction with the accompanying drawings, which are incorporated for illustration of preferred embodiments of the present disclosure and are not intended to limit the scope thereof. SUMMARY

[00012] In view of the foregoing, an embodiment herein provides a system and method for performing cash instrument transaction involving digital currency using block chain.

[00013] In accordance with an embodiment, the method for performing a cash instrument transaction involving digital currency, comprises the following steps. First, transmitting a request for a cash instrument transaction from a payment engine to a payment application, by a processor of a user device. Then, authenticating details transmitted in the request for performing the cash instrument transaction, by the payment engine using the processor of the user device. Next, performing an API call to the payment application for the cash instrument transaction, by the processor of the user device. Then, initiating the cash instrument transaction for transferring an amount from a user account based on the request, on authentication of the details, by the payment application. Next, transmitting the details of the transaction to a crypto transfer engine for storing the details on a blockchain, on completion of the cash instrument transaction, by the payment engine. Then, verifying eligibility of the transaction to receive digital currency based on the details of the transaction, by the crypto transfer engine. Next, transferring a determined amount of digital currency for an eligible transaction, based on the details, to a crypto account of the user, by the crypto transfer engine. Finally, facilitating operation of the digital currencies in the crypto transfer engine in a crypto operating system, by the processor of the user device. [00014] In an embodiment, the request for cash instrument transaction including transaction amount, mode of transaction, user details including user account, and merchant details including merchant account.

[00015] In an embodiment, authenticating the details includes verifying the details of the transaction by performing an API call to a fraud detecting application for identifying a fraud transaction.

[00016] In an embodiment, the eligibility and amount of digital currency determined based on parameters of cash instrument transaction, wherein the parameters including one or a combination of a range of amount of the cash instrument transaction, and mode of transaction. The parameters defined by one of merchant, a payment engine service provider, and a payment application service provider.

[00017] In an embodiment, the details including but not limited to the user, user account, merchant account, amount of cash instrument transaction, and authenticity of transaction stored in the blockchain.

[00018] In accordance with an embodiment, a type of digital currency for transferring to the crypto account of the user determined based on parameters including one of a merchant input and a default input. The merchant input including type of the digital currency provided by a merchant and the default input including type of the digital currency provided by a payment engine server provider. The crypto transfer engine transferring the amount of digital currency directly to the crypto account and/or through a digital currency exchange to the crypto account, based on the type. [00019] In an embodiment, the operation including one or a combination of a transaction, investment, and trading performed using the digital currencies in the crypto operating system.

[00020] In accordance with an embodiment, the system for performing a cash instrument transaction involving digital currency, comprises the following. A user device is provided for initiating a request for a cash instrument transaction through a payment engine, wherein the payment engine authenticates details of the request for performing the cash instrument transaction through a payment application. A crypto system is connected to the payment engine for receiving and storing details of the cash instrument transaction on a blockchain on successful transaction. The crypto system verifies eligibility of the cash instrument transaction for transmitting a determined digital currency to a crypto account of the user.

[00021] In an embodiment, the crypto system verifies the eligibility and determines the digital currency based on parameters including one or a combination of a range of amount of the cash instrument transaction, and mode of transaction. The parameters are defined in the crypto system, through the payment engine, by one of merchant, payment application service provider and payment engine service provider.

[00022] In an embodiment, a crypto operating system is accessible in the user device for facilitating operation of the digital currencies received in the crypto account. [00023] In an embodiment, there could be any mode of crypto currency or digital currency transfers to a crypto account for using cash instrument transactions by a designed payment engine.

[00024] In an embodiment, the digital currency can include but not limited to cryptocurrency and digital assets.

[00025] These and other aspects of the embodiments herein will be better appreciated and understood when considered in conjunction with the following description and the accompanying drawings. It should be understood, however, that the following descriptions, while indicating preferred embodiments and numerous specific details thereof, are given by way of illustration and not of limitation. Many changes and modifications may be made within the scope of the embodiments herein without departing from the spirit thereof, and the embodiments herein include all such modifications.

BRIEF DESCRIPTION OF DRAWINGS

[00026] The detailed description is set forth with reference to the accompanying figures. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The use of the same reference numbers in different figures indicates similar or identical items.

[00027] Fig.l illustrates a block diagram of a user device showing a cash instrument transaction in a system for performing cash instrument transactions involving digital currency using block chain, according to an embodiment herein;

[00028] Fig. 2 illustrates a block diagram of a crypto system in a system for performing cash instrument transactions involving digital currency using block chain, according to an embodiment herein; [00029] Fig. 3 illustrates a block diagram of the user device showing a crypto operating system in a system for performing cash instrument transactions involving digital currency using block chain, according to an embodiment herein;

[00030] Fig. 4 illustrates a block diagram of an architecture of the system for performing cash instrument transactions involving digital currency using block chain, according to an embodiment herein;

[00031] Fig. 5 illustrates a flow chart of a method for performing cash instrument transactions involving digital currency using block chain, according to an embodiment herein; and

[00032] Fig. 6a and Fig. 6b illustrate a flow chart for performing cash instrument transaction involving digital currency using block chain, according to an embodiment herein.

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS

[00033] The embodiments herein and the various features and advantageous details thereof are explained more fully with reference to the non-limiting embodiments and detailed in the following description. Descriptions of well- known components and processing techniques are omitted so as to not unnecessarily obscure the embodiments herein. The examples used herein are intended merely to facilitate an understanding of ways in which the embodiments herein may be practiced and to further enable those of skill in the art to practice the embodiments herein. Accordingly, the examples should not be construed as limiting the scope of the embodiments herein.

[00034] As mentioned above, there is a need for an improved system and method providing a single system facilitating digital asset transactions, specifically transactions related to cryptocurrency. In particular, there is a need for a system and method forperforming cash instrument transactions and transferring digital currencies. The embodiments herein achieve this by providing “A system and method for transferring digital currency based on the cash instrument transactions using block chain”. Referring now to the drawings, and more particularly to Fig.l through Fig.5, where similar reference characters denote corresponding features consistently throughout the figures, there are shown preferred embodiments.

[00035] Portions of the example embodiments and corresponding detailed description may be presented in terms of software, or algorithms and symbolic representations of operation on data bits within a computer memory. These descriptions and representations are the ones by which those of ordinary skill in the art effectively convey the substance of their work to others of ordinary skill in the art.

[00036] The systems described herein, may be realized by hardware elements, software elements and/or combinations thereof. For example, the devices and components illustrated in the example embodiments of inventive concepts may be implemented in one or more general-use computers or special-purpose computers, such as a processor, a controller, an arithmetic logic unit (ALU), a digital signal processor, a microcomputer, a field programmable array (FPA), a programmable logic unit (PLU), a microprocessor or any device which may execute instructions and respond. A central processing unit may implement an operating system (OS) or one or software applications running on the OS. Further, the processing unit may access, store, manipulate, process and generate data in response to execution of software. It will be understood by those skilled in the art that although a single processing unit may be illustrated for convenience of understanding, the processing unit may include a plurality of processing elements and/or a plurality of types of processing elements. For example, the central processing unit may include a plurality of processors or one processor and one controller. Also, the processing unit may have a different processing configuration, such as a parallel processor.

[00037] Software may include computer programs, codes, instructions or one or more combinations thereof and may configure a processing unit to operate in a desired manner or may independently or collectively control the processing unit. Software and/or data may be permanently or temporarily embodied in any type of machine, components, physical equipment, virtual equipment, computer storage media or units or transmitted signal waves so as to be interpreted by the processing unit or to provide instructions or data to the processing unit. Software may be dispersed throughout computer systems connected via networks and may be stored or executed in a dispersion manner. Software and data may be recorded in one or more computer-readable storage media.

[00038] Blockchain is a technology for storing data. The data in a blockchain is stored in a plurality of blocks, wherein the blocks are linked to each other. A blockchain network is a network of a plurality of communication devices including a computer or laptop or a mobile phone. Each communication device is a node, wherein the plurality of nodes is connected to each other through internet. The nodes broadcast information, relay information and store the information in a new block in a blockchain for ensuring immutability and transparency of data.

[00039] Fig.l illustrates a block diagram of a user device showing cash instrument transaction in a system for performing cash instrument transaction involving digital currency using block chain. In an embodiment, the user device 101 is accessed by a user for performing cash instrument transactions.

[00040] The user device 101 includes a processor 111 and a memory 109. The memory 109 stores instructions for performing cash instrument transactions. The processor 111 executes the instructions for performing the transactions stored in the memory 109. The user accesses the user device 101 for performing a cash instrument transaction 103 through the processor 111. In an embodiment, the cash instrument transaction includes a transaction for transferring an amount of fiat currency from a user account of a user to a merchant account of a merchant.

[00041] A payment engine 102 is provided for performing the cash instrument transaction 103. The payment gateway 105 facilitates performing cash instrument transaction, wherein the payment gateway 105 includes a plurality of options for facilitating cash instrument transactions. In an embodiment, the options include Payment Application 107. The processor 111 generates a request for performing cash instrument transaction in the payment engine 107. In an embodiment, the request is generated when a user selects the payment application 107 option in the cash instrument transaction 103.

[00042] In an embodiment, the payment engine 102 authenticates details transmitted in the request for performing the cash instrument transaction. The request can include but not limited to transaction amount, mode of transaction, user details including user account, and merchant details including merchant account. In an embodiment, the payment engine 102 authenticates by performing an API call to a third party application, for verifying the details. The third party application can include but not limited to a fraud detecting application for identifying a fraud transaction.

[00043] In an embodiment the cash instrument transaction 103 is accessible by the user in a user interface of the user device 101. In an embodiment, the user creates a user profile for accessing the payment engine 102.

[00044] The cash instrument transaction 103 is a payment mode that includes but not limited to credit card, debit card, net banking, UPI, digital wallet and so on. The payment application 107 is based on the cash instrument transaction 103. [00045] In an embodiment, the user device 101 is an electronic communication device including but not limited to smart phone, laptop, tablet and desktop. In an embodiment, the user is performs transactions using the user device 101.

[00046] Fig. 2 illustrates a block diagram of a crypto system in the system for performing cash instrument transaction involving a digital currency using block chain. In an embodiment, a crypto system 201 is connected to the payment engine 102. The crypto system includes crypto transfer engine 203, a transaction database 205, and a crypto operating system 301. On generating the request for transaction from the payment engine 102 in the cash instrument transaction 103 of the user device 101, the processor 111 of the user device 101 performs an API call to the payment application 107. The processor 111 initiates the transaction based on the API call. In an embodiment, the payment engine 102 is connected to the crypto transfer engine 203 in the crypto system 201. The payment engine 102 transmits an indication to the crypto transfer engine 203 based on initiated transaction. The payment engine 102 is notified by the payment application 107 on successful transaction from a user account to a receiver account, wherein the payment engine 102 transmits a notification to the crypto transfer engine 203 on successful transaction. The crypto transfer engine 203 stores details of the successful transaction in a blockchain by creating a block including details of the transaction corresponding to user account.

[00047] The crypto transfer engine 203 verifies eligibility of the transaction for receiving an amount of digital currency. The crypto transfer engine 203 transfers a determined amount of digital currency to the user account in the payment engine 102, on eligible transaction.

[00048] In an embodiment, the crypto transfer engine 203 determines the eligible transaction and the amount of digital currency based on parameters. The parameters are defined in the crypto transfer engine. In an embodiment, the parameters defined corresponding to one or a combination of a merchant account, a payment application service provider and payment engine. The merchant account is the account receiving transaction amount from the cash instrument transaction performed by the user account. The eligibility and the amount of digital currency are determined based on the parameters including but not limited to a range of amount of the cash instrument transaction, and mode of transaction.

[00049] In an embodiment, the digital currency can include but not limited to digital assets and cryptocurrency.

[00050] In an embodiment, the transaction database 205 is provided for storing data of historical transactions of all users of the payment engine 102. The data of historical transactions includes but not limited to details of user, requests generated by the users, transactions initiated by the users and transferred digital currency transactions of the users.

[00051] In an embodiment, the crypto operating system 301 is provided for facilitating operation of the digital currencies received through the crypto transfer engine 203.

[00052] Fig. 3 illustrates a block diagram of a user device of the system showing crypto operating system in a system for performing cash instrument transaction involving digital currency using block chain. In an embodiment, the user accesses the crypto operating system 301 in the user device 101. In an embodiment, the crypto operating system 301 includes a crypto user account 303. The crypto user account 303 includes a plurality of options. The options including but not limited to transaction 305, investment 307 and trading 309.

[00053] The crypto transfer engine 203 transfers the determined amount of digital currency to the crypto operating system 301 of the user. The processor 111 receives the amount of digital currency and stores in the crypto user account 303. In an embodiment, the crypto transfer engine transferring digital currency, wherein the digital currency includes but not limited to digital asset and cryptocurrency.

[00054] The crypto user account 303 of the user is connected to the crypto transfer engine 203 of the payment engine 107. In an embodiment, the crypto system 201 facilitates digital currency transaction through the crypto transfer engine based on the cash instrument transaction initiated through the payment engine 107.

[00055] In an embodiment, the crypto operating system 301 is connected to a blockchain network for securing the received digital currencies. The blockchain network performs secure transactions of the digital currencies, wherein the blockchain network secures crypto user account of the users.

[00056] The crypto user account 303 is provided for facilitating operation of the digital currencies stored in the crypto operating system 301 of the user. The operation of the digital currency includes but not limited to transaction 305, trading 309 and investment 307. The transaction 305 facilitates operating the digital currencies for performing buying and selling using the digital currency. The investment 307 facilitates operating the digital currencies for investing. The trading 309 facilitate operating digital tokens in the crypto operating system 301.

[00057] In an embodiment, the crypto operating system 301 includes a plurality of digital tokens. The digital tokens are generated by the processor in the crypto operating system 301. The crypto operating system 301 facilitates buying the digital tokens and storing in the crypto user account 303 for the users to trade the digital tokens through the trading 309 and buying and/or selling using the digital tokens, through the transaction 305.

[00058] In an embodiment, the digital tokens in the crypto operating system 301 can be bought by a user and stored in the crypto user account 303. [00059] In an embodiment, the user accesses the crypto operating system 301 in the user device 301 for performing operations involving digital currency and viewing data of historical transactions of the user performed through the payment engine 107. The data of historical transactions is provided by the transaction database 205 of the crypto system 201.

[00060] Fig. 4 illustrates a block diagram of architecture of the system for performing a transaction involving digital currency using block chain. In an embodiment, the system includes a plurality of user devices 1011 to 101N connected to the crypto system 201 through a communication network 401. In an embodiment, the communication network 401 is a wireless communication including but not limited to Wi-Fi and Bluetooth.

[00061] The processors of the user devices 101i to 101N connect the payment engine 102 to the crypto transfer engine 201, on performing a successful cash instrument transaction 103 using the payment application 107. The processor 111 of the user device initiates the transaction through the payment application 107 in the payment engine 102. The payment engine 102 transmits a notification to the crypto transfer engine 201 on successful transaction. The crypto transfer engine determines eligibility and an amount of digital currency for transferring the digital currency. The crypto transfer engine transfers the determined amount of digital currency to the crypto operating system 301 of the user device 1011 to 101N- The crypto operating system 301 facilitates operation of the digital currency in the crypto user account 303.

[00062] Fig. 5 illustrates a flow chart of a method for performing cash instrument transaction involving digital currency using block chain. In an embodiment, the method includes the following steps. First, generating 501 a request for a cash instrument transaction in a payment engine, by a processor of a user device. The request is generated by a user profile using the payment engine in the user device. The request for the cash instrument transaction is transmitted from the payment engine to a payment application, by the processor of the user device. In an embodiment, the request for cash instrument transaction includes but not limited to transaction amount, mode of transaction, user details including user account, and merchant details including merchant account.

[00063] Then, the payment engine performs authentication of details transmitted in the request for performing the cash instrument transaction, using the processor of the user device.

[00064] In an embodiment, authenticating the details includes verifying the details of the transaction by performing an API call to a fraud detecting application for identifying a fraud transaction.

[00065] Then, performing 502 an API call to the payment application for performing the cash instrument transaction based on the request on authentication of the request of the cash instrument transaction, by the processor of the user device.

[00066] Next, initiating 503 the cash instrument transaction for transferring an amount from a user account based on the request, on authentication of the details, by the payment application.

[00067] Then, transmitting the details of the transaction to a crypto transfer engine for storing the details on a blockchain, on completion of the cash instrument transaction, by the payment engine. In an embodiment, the blockchain storing details including the user, user account, merchant account, amount of cash instrument transaction, and authenticity of transaction.

[00068] Then, verifying eligibility of the transaction to receive digital currency based on the details of the transaction, by the crypto transfer engine. In an embodiment, the eligibility defined in the crypto transfer engine based on parameters. The parameters can include but not limited to one or a combination of a range of amount of the cash instrument transaction, and mode of transaction. In an embodiment, the parameters defined by one of merchant, a payment engine service provider, and a payment application service provider.

[00069] Then, determining 504 an amount of digital currency based on the cash instrument transaction, by the crypto system. In an embodiment, the amount of digital currency determined based on parameters of cash instrument transaction, wherein the parameters including but not limited to one or a combination of a range of amount of the cash instrument transaction, and mode of transaction. The parameters defined by one of merchant, a payment engine service provider, and a payment application service provider.

[00070] Next, transferring 505 the determined amount of digital currency for an eligible transaction, based on the details, to a crypto account of the user, by the crypto transfer engine.

[00071] In an embodiment, the user device transmitting a type of the amount of digital currency for receiving the digital currency in the crypto account of the user. A notification is received in the user device from the crypto transfer engine, for transmitting the type of the amount of the digital currency. In an embodiment, the crypto transfer engine transferring the amount of digital currency to the crypto account either directly or through a digital currency exchange for conversion, based on the type.

[00072] Finally, facilitating 506 operation of the digital currencies in the crypto transfer engine in a crypto operating system, by the processor of the user device. In an embodiment, the operation including but not limited to one or a combination of a transaction, investment, and trading performed using the digital currencies in the crypto operating system.

[00073] Fig. 6a and Fig. 6b illustrate a flow chart for performing cash instrument transaction involving digital currency using block chain. First, a request for initiation of transaction is transmitted by the processor of the user device 100. The request includes a transaction amount, user account details and merchant account details. The request is provided as a payment entry 603 in the payment engine through the user device 101, by the user. In an embodiment, the payment details verification 606, provided in the payment engine, verifies the payment details transmitted by the user, in the request. In an embodiment, the payment details verification 606 verifies authenticity of the user details and the merchant details in the request. On verifying the authenticity of the payment details, the request is accepted and transmitted to a payment gateway 105. On verifying the lack of authenticity of the payment details, the request is declined. The payment gateway 608a of the payment application directs the transaction to an acquiring processor 609. The acquiring processor 609 and the issuing processor 610 are connected through a payment network 608a. The payment network 608a is based on the payment application, wherein the payment network 608a can include but not limited to UPI, MasterCard, VISA etc.

[00074] The acquiring processor 609 accepts the payment request sand transmits the acceptance to a payment processor 608. The payment processor 608 transmits a command to an issuing processor 610 for processing the transaction amount in the request from the user to the merchant. The issuing processor 610 transfers the transaction amount from the customer account 611 in the issuing bank 612. The transaction amount is transferred from the issuing bank 612 to an acquiring bank 613 related to the merchant. The acquiring bank 614 deposits the amount in the merchant account 614. In an embodiment, the details of the merchant account are retrieved from the merchant details submitting through the merchant device, by the merchant.

[00075] The acquiring bank 613 transmits the transaction status on receiving the transaction amount. The transaction status can include a successful transaction on receiving the transaction amount and unsuccessful transaction on not receiving the transaction amount. On receiving a successful transaction 615 status, the transaction details are stored in a payment status database 616. In not receiving a successful transaction status, a notification is transmitted to the user device 101.

[00076] In an embodiment, a block corresponding to the transaction between the user and the merchant is created 617 on a block chain in the crypto system based on the successful transaction 615. The block is created based on both the authenticity of the payment details and the successful transaction.

[00077] A proof of authority for reward eligibility 618 is performed based on the transaction details stored in the new block. The proof of authority is defined and stored in a POA database 619 based on the parameters. The proof of authority is defined by including but not limited to merchant, payment application service provider, payment engine. The parameters can include but not limited to a range of amount of the cash instrument transaction, and mode of transaction. On verifying the cash instrument transaction as non-eligible, a notification is transmitted to the user device 101 of the user account. On verifying the cash instrument transaction as eligible for receiving digital currency, notification is transmitted for determining the amount of the digital currency. The Crypto Transfer Engine 201 determines the amount of the digital currency based on parameters defined.

[00078] In an exemplary embodiment, the cryptotransfer engine 201 utilizes Smart Contract for determining the amount of digital currency for the cash instrument transaction performed. In an embodiment, the determined amount of digital currency is stored in a reward database 622 in the blockchain.

[00079] In an embodiment, the reward database 622 transfers the digital currency based on a type of digital currency transmitted by the merchant input/default 623. The merchant input/ default 623 determines the type of digital currency based on parameters including but not limited to one of a merchant input and a default input. The merchant input includes a type of the digital currency provided as input by a merchant. The default input includes a type of the digital currency provided by a payment engine server provider for performing the cash instrument transaction. The type of digital currency is transmitted to the reward database 622. [00080] In an embodiment, on receiving a type different from the type of digital currency stored in the digital currency reward database 622, the digital currency reward database 622 transfers the digital currency to a digital currency exchange 624 for converting the type based on merchant input and/or default input. The converted digital currency is transferred to a user digital wallet 625 in the crypto account.

[00081] In an embodiment, on receiving a type similar to the type of digital currency stored in the digital currency reward database 622, the digital currency reward database 622 transfers the digital currency directly to the user digital wallet 625 in the crypto account.

[00082] The methods according to the above -described example embodiments of the inventive concept may be implemented with program instructions which may be executed by computer or processor and may be recorded in computer -readable media. The media may also include, alone or in combination with the program instructions, data files, data structures, and the like. The program instructions recorded in the media may be designed and configured especially for the example embodiments of the inventive concept or be known and available to those skilled in computer software. Computer-readable media include magnetic media such as hard disks, floppy disks, and magnetic tape; optical media such as compact disc- read only memory (CD-ROM) disks and digital versatile discs (DVDs); magnetooptical media such as floptical disks; and hardware devices that are specially configured to store and perform program instructions, such as read-only memory (ROM), random access memory (RAM), flash memory, and the like. Program instructions include both machine codes, such as produced by a compiler, and higher level codes that may be executed by the computer using an interpreter. The described hardware devices may be configured to execute one or more software modules to perform the operations of the above-described example embodiments of the inventive concept, or vice versa.

[00083] It should be borne in mind, however, that all of these and similar terms are to be associated with the appropriate physical quantities and are merely convenient labels applied to these quantities. Unless specifically stated otherwise, or as is apparent from the discussion, terms such as “processing” or “computing” or “calculating” or “determining” of “displaying” or the like, refer to the action and processes of a computer system, or similar electronic computing device/hardware, that manipulates and transforms data represented as physical, electronic quantities within the computer system’s registers and memories into other data similarly represented as physical quantities within the computer system memories or registers or other such information storage, transmission or display devices.

[00084] A main advantage of the present disclosure is that the system and method provides performing cash instrument transaction involving digital currency using block chain.

[00085] Another advantage of the present disclosure is that the system and method provides performing cash instrument transactions and transferring digital currency, specifically cryptocurrency based on the cash instrument transactions.

[00086] Still another advantage of the present disclosure is that the system and method provides a single system for performing cash instrument transactions involving various modes of digital currencies. [00087] Yet another advantage of the present disclosure is that the system and method facilitates faster, secured and instant transfer of various currencies.

[00088] The foregoing description of the specific embodiments will so fully reveal the general nature of the embodiments herein that others can, by applying current knowledge, readily modify and/or adapt for various applications such specific embodiments without departing from the generic concept, and, therefore, such adaptations and modifications should and are intended to be comprehended within the meaning and range of equivalents of the disclosed embodiments. It is to be understood that the phraseology or terminology employed herein is for the purpose of description and not of limitation. Therefore, while the embodiments herein have been described in terms of preferred embodiments, those skilled in the art will recognize that the embodiments herein can be practiced with modification within the spirit and scope of the embodiments as described herein.