Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain
US12039533B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Nov 3, 2016 |
| Grant date | Jul 16, 2024 |
| Priority date | — |
| Expiry date | Apr 9, 2041 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L63/0435
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for generating a cryptographic promissory note for posting to a blockchain includes: receiving an authorization request for a payment transaction, the authorization request being a transaction message formatted based on one or more standards that includes a plurality of data elements including a first data element configured to store a blockchain address and a second data element configured to store a transaction amount; generating a promissory note including the transaction amount; digitally signing the generated promissory note with a private key; encrypting the signed promissory note with a symmetric key; wrapping the symmetric key with a public key corresponding to the private key and a public key associated with an acquirer involved in the payment transaction; and electronically transmitting a blockchain transaction to a blockchain network that includes the encrypted promissory note, each symmetric key, and the blockchain address.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.