Methods And Systems For Efficient Transfer Of Entities On A Peer-to-peer Distributed Ledger Using The Blockchain

  • Published: Aug 31, 2017
  • Earliest Priority: Feb 23 2016
  • Family: 8
  • Cited Works: 4
  • Cited by: 2
  • Cites: 0
  • Additional Info: Full text

The invention provides a secure method for exchanging entities via a blockchain. The invention incorporates tokenisation techniques, and also techniques for embedding metadata in a redeem script of a blockchain transaction. Embodiment(s) provide a computer implemented method of performing a transfer, the method comprising: generating a first exchange transaction, and broadcasting, over a first network, the first exchange transaction for inclusion on a P2P distributed ledger, wherein the first exchange transaction comprises: an indication of a first quantity of a cryptocurrency to be transferred; a first input provided from an output of a first invitation transaction from a first user, the first invitation transaction previously included on the P2P distributed ledger, a first script, a first user private key associated with the first user, a first third- party private key associated with a first third-party, and a first output indicating a transfer of a first entity from the first user to a second user; and wherein the first script comprises: a first set of metadata providing an indication of the first entity to be transferred and a first set of conditions for the transfer, a first user public key associated with the first user, the first user public key being a cryptographic pair with the first user private key, and a first third-party public key associated with the first third-party, the first third-party public key being a cryptographic pair with the first third-party private key.

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Document History
  • Publication: Aug 31, 2017
  • Application: Feb 16, 2017
    WO IB 2017050866 W
  • Priority: Mar 16, 2016
    GB GB 201604493 A
  • Priority: Feb 23, 2016
    GB GB 201603123 A
  • Priority: Feb 23, 2016
    GB GB 201603125 A

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