Method and system for private transaction processing

US12307449B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Ram Patra · Dublin, IE
• Thomas TREITLINGER · Portmarnock, IE
• Rakesh Yadav · Cape Elizabeth, US
• Damien Conroy · Dublin, IE

Key dates

• Filing date: Nov 3, 2021
• Grant date: May 20, 2025
• Expiry date: Nov 18, 2043

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q2220/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for facilitating secure private transfers in a blockchain includes: receiving an initiate message from a device for a proposed private transfer including a private group identifier, entity identifier, and transfer amount; executing a smart contract using the initiate message as input resulting in transmitting an event message to a central authority system including the entity identifier and transfer amount; receiving a response message from the central authority system including an indication of approval or rejection of the proposed private transfer; and executing the smart contract using the response message as input resulting in (i) adding a private blockchain transaction for transfer of the transfer amount from a first blockchain wallet associated with the entity identifier to a second blockchain wallet in a private group associated with the private group identifier if the response message includes an indication of approval, or (ii) declining the proposed private transfer.