WO 2017/145007 A1 - System And Method For Controlling Asset-related Actions Via A Blockchain - The Lens

System And Method For Controlling Asset-related Actions Via A Blockchain

Published: Aug 31, 2017
Earliest Priority: Feb 23 2016
Family: 10
Cited Works: 4
Cited by: 0
Cites: 0
Additional Info: Cited Works Full text

Abstract

According to one perspective, the invention provides a technical arrangement to calculate, register and/or apportion costs and/or generate income in proportion to the current ownership of an asset. One or more embodiments also comprise a novel technique for generating cryptographic sub-keys. Thus, one benefit provided by the invention is that it allows the secure distribution of costs and income for an asset registered and maintained on the Blockchain. In turn, this increases the capability of such assets to meet the real-world needs of various entities such as the asset itself and investing parties. In one embodiment the invention provides a computer-implemented system for controlling a transfer made via a blockchain in respect of an asset, the system comprising an asset having a plurality of private cryptographic keys, each private key being associated with an owner of the asset; a registry comprising a plurality of public cryptographic keys wherein each public key corresponds to a private key in the asset's plurality of private keys, and is associated with a redeem script hash that can be identified within an unspent blockchain transaction; a smart contract comprising at least one rule relating to the automated generation of one or more blockchain transactions to enable a transfer to be made in respect of the asset; and a computing agent arranged to evaluate and/or execute the at least one rule of the smart contract. In some embodiments, a hierarchy of computing agents is managed by a master agent to carry out the asset related tasks defined in the smart contract. The master and subordinate agents communicate to execute discrete tasks.

Claims

A computer- implemented system arranged to control a transfer made via a blockchain, the system comprising:
an asset comprising a plurality of private cryptographic keys, each private key being associated with an owner of the asset;
a registry comprising a plurality of public cryptographic keys wherein each public key: corresponds to a private key in the asset's plurality of private keys, and
is associated with a redeem script hash that can be identified within an unspent blockchain transaction;
a smart contract comprising at least one rule relating to the automated generation of one or more blockchain transactions to enable a transfer to be made in respect of the asset; and
a computing agent arranged to evaluate and/or execute the at least one rule of the smart contract.
A system according to claim 1 wherein at least one of the plurality of private keys is generated as a sub-key of an existing cryptographic key pair, comprising the steps:
determining a first entity second private key based on at least a first entity master private key and a generator value;
determining a second entity second private key based on at least a second entity master private key and the generator value;
determining a common secret (CS) at the first entity based on the first entity second private key and the second entity second public key, and determining the common secret (CS) at the second entity based on the second entity second private key and first entity second public key; and
wherein:
the first entity second public key and the second entity second public key are respectively based on at least the first/second entity master key and the generator value; and
either the first or second entity is the asset and the other entity is a controller or other entity associated with the asset.
A system according to claim 1 or 2 wherein the transfer is a transfer of currency to be made in respect of the asset, and wherein the transfer relates to income or costs associated with the asset.
A system according to claim wherein 3 wherein the currency is Bitcoin, or any digital currency, or a tokenised value.
A system according to any preceding claim wherein the at least one rule provided in the smart contract defines a payment schedule associated with the asset.
A system according to any preceding claim wherein the computing agent is arranged to communicate with further computing agents, each of said further computing agents arranged to perform a task associated with the asset.
A system according to claim 6 wherein the computing agent is arranged to coordinate and/or authorise the activities of each of the further computing agents.
A system according to any preceding claim and further comprising:
i) at least one further computing agent arranged to generate a blockchain transaction relating to income associated with the asset;
ii) at least one further computing agent arranged to generate a blockchain transaction relating to a cost associated with the asset;
iii) at least one further computing agent arranged to process the netting off of income against payments associated with the asset;
iv) at least one further computing agent arranged to generate and/or transmit an alert to an owner of the asset, the alert providing a notification about an event relating to the asset. 9. A system according to any preceding claim wherein computing agent is arranged to generate a blockchain transaction upon detection of an event or trigger specified in the smart contract.
A system according to any preceding claim wherein the smart contract is stored in a Distributed Hash Table, and a hash of the contract is provided within metadata associated with a blockchain transaction.
A computer- implemented method of controlling a transfer made via a blockchain, the method comprising the steps:
defining an asset comprising a plurality of private cryptographic keys, each private key being associated with an owner of the asset;
generating a registry comprising a plurality of public cryptographic keys wherein each public key:
corresponds to a private key in the asset's plurality of private keys, and
is associated with a redeem script hash that can be identified within an unspent blockchain transaction;
generating a smart contract comprising at least one rule relating to the automated generation of one or more blockchain transactions to enable a transfer to be made in respect of the asset;
and
using a computing agent to evaluate and/or execute the at least one rule of the smart contract.
A method according to claim 11 wherein at least one of the plurality of private keys is generated as a sub-key of an existing cryptographic key pair, comprising the steps:
determining a first entity second private key based on at least a first entity master private key and a generator value;
determining a second entity second private key based on at least a second entity master private key and the generator value;
determining a common secret (CS) at the first entity based on the first entity second private key and the second entity second public key, and determining the common secret (CS) at the second entity based on the second entity second private key and first entity second public key; and
wherein: the first entity second public key and the second entity second public key are respectively based on at least the first/second entity master key and the generator value; and
either the first or second entity is the asset and the other entity is a controller or other entity associated with the asset.
A method according to claim 12 wherein the transfer is a transfer of currency to be made in respect of the asset, and wherein the transfer relates to income or costs associated with the asset.
preferably wherein the currency is Bitcoin, or any digital currency, or a tokenised value.
A method according to claim 12 or 13 wherein the at least one rule provided in the smart contract defines a payment schedule associated with the asset.
A method according to claims 12 to 14 and further comprising the step of arranging the computing agent to communicate with further computing agents, and arranging each of said further computing agents to perform a task associated with the asset.
A method according to claim 15 wherein the computing agent is arranged to
coordinate and/or authorise the activities of each of the further computing agents.
A method according to claims 12 to 16 and further comprising the step of providing: i) at least one further computing agent arranged to generate a blockchain transaction relating to income associated with the asset;
ii) at least one further computing agent arranged to generate a blockchain transaction relating to a cost associated with the asset;
iii) at least one further computing agent arranged to process the netting off of income against payments associated with the asset;
iv) at least one further computing agent arranged to generate and/or transmit an alert to an owner of the asset, the alert providing a notification about an event relating to the asset.
A method according to claims 12 to 17 wherein computing agent is arranged to generate a blockchain transaction upon detection of an event or trigger specified smart contract.
A method according to claims 12 to 18 wherein the smart contract is stored in a Distributed Hash Table, and a hash of the contract is provided within metadata associated with a blockchain transaction.