Peer-to-Peer Financial Transactions Using A Private Distributed Ledger

• US 20170236103A1
• Filed: 02/10/2017
• Published: 08/17/2017
• Est. Priority Date: 02/12/2016
• Status: Abandoned Application

• Current Assignee: D+H USA Corporation (Finastra Global Ltd.)
• Original Assignee: D+H USA Corporation (Finastra Global Ltd.)
• Inventors: Biton, Eli
• Application Number:
  US15/430,407
• Publication Number:
  US 20170236103A1
• Time in Patent Office: Days
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/0655 e-cash managed centrally
• CPC Class Codes: G06Q 20/0658 e-cash managed locally
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/389 Keeping log of transactions for guaranteeing non-repudiation of a transaction
• CPC Class Codes: G06Q 2220/00 Business processing using cryptography postage metering system using cryptography G06Q2250/05
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 9/0637 Modes of operation, e.g. cipher block chaining [CBC], electronic codebook [ECB] or Galois/counter mode [GCM]
• CPC Class Codes: H04L 9/14 using a plurality of keys or algorithms
• CPC Class Codes: H04L 9/30 Public key, i.e. encryption algorithm being computationally infeasible to invert or user's encryption keys not requiring secrecy
• CPC Class Codes: H04L 9/3236 using cryptographic hash functions
• CPC Class Codes: H04L 9/3239 involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD
• CPC Class Codes: H04L 9/3247 involving digital signatures
• CPC Class Codes: H04L 9/50 using hash chains, e.g. blockchains or hash trees

Abstract

Methods and systems for performing peer-to-peer financial transactions using a private distributed ledger are described. One example method includes identifying a non-accounting transaction in the blockchain network including an output address, zero output amount, a recall indicator, and an identifier of an original transaction; and in response to identifying, generating a reverse transaction crediting an input address of the original transaction for an output amount of the original transaction.

Claims

1. A computer-implemented method executed by one or more processors for recalling a transaction in a blockchain network, the method comprising:

identifying a non-accounting transaction in the blockchain network including an output address, zero output amount, a recall indicator, and an identifier of an original transaction; and

in response to identifying, generating a reverse transaction crediting an input address of the original transaction for an output amount of the original transaction.

2. The method of claim 1, further comprising:

identifying the reverse transaction by a member of the blockchain network associated with the input address of the original transaction; and

in response to identifying the reverse transaction, crediting, by the member, an account associated input address for the output amount of the original transaction.

3. The method of claim 1, further comprising:

identifying the reverse transaction by a member of the blockchain network associated with the output address of the original transaction; and

in response to identifying the reverse transaction, debiting, by the member, an account associated output address by the output amount of the original transaction.

4. The method of claim 3, wherein the member of the blockchain network is a financial institution.

5. The method of claim 4, wherein the account associated with the output address is a bank account managed by the member.

6. The method of claim 5, wherein the account is associated with the output address in an account database managed by the member.

7. The method of claim 1, wherein the blockchain network is one of a Bitcoin network, a Ripple network, or an Ethereum network.

8. A non-transitory, computer-readable medium storing instructions operable when executed to cause at least one processor to perform operations comprising:

identifying a non-accounting transaction in the blockchain network including an output address, zero output amount, a recall indicator, and an identifier of an original transaction; and

in response to identifying, generating a reverse transaction crediting an input address of the original transaction for an output amount of the original transaction.

9. The computer-readable medium of claim 8, the operations further comprising:

identifying the reverse transaction by a member of the blockchain network associated with the input address of the original transaction; and

in response to identifying the reverse transaction, crediting, by the member, an account associated input address for the output amount of the original transaction.

10. The computer-readable medium of claim 8, the operations further comprising:

identifying the reverse transaction by a member of the blockchain network associated with the output address of the original transaction; and

in response to identifying the reverse transaction, debiting, by the member, an account associated output address by the output amount of the original transaction.

11. The computer-readable medium of claim 10, wherein the member of the blockchain network is a financial institution.

12. The computer-readable medium of claim 11, wherein the account associated with the output address is a bank account managed by the member.

13. The computer-readable medium of claim 12, wherein the account is associated with the output address in an account database managed by the member.

14. The computer-readable medium of claim 8, wherein the blockchain network is one of a Bitcoin network, a Ripple network, or an Ethereum network.

15. A system comprising:

memory for storing data; and

one or more processors operable to perform operations comprising;

identifying a non-accounting transaction in the blockchain network including an output address, zero output amount, a recall indicator, and an identifier of an original transaction; and

in response to identifying, generating a reverse transaction crediting an input address of the original transaction for an output amount of the original transaction.

16. The system of claim 15, the operations further comprising:

identifying the reverse transaction by a member of the blockchain network associated with the input address of the original transaction; and

in response to identifying the reverse transaction, crediting, by the member, an account associated input address for the output amount of the original transaction.

17. The system of claim 15, the operations further comprising:

identifying the reverse transaction by a member of the blockchain network associated with the output address of the original transaction; and

in response to identifying the reverse transaction, debiting, by the member, an account associated output address by the output amount of the original transaction.

18. The system of claim 17, wherein the member of the blockchain network is a financial institution.

19. The system of claim 18, wherein the account associated with the output address is a bank account managed by the member.

20. The system of claim 19, wherein the account is associated with the output address in an account database managed by the member.