| CPC G06Q 20/3827 (2013.01) [G06Q 20/065 (2013.01); G06Q 20/3829 (2013.01); G06Q 20/389 (2013.01); H04L 9/3247 (2013.01); G06Q 2220/00 (2013.01); H04L 2209/56 (2013.01)] | 12 Claims |
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7. A system for private management of digital assets for multiple participants of a global blockchain, comprising:
a first computing system;
a second computing system; and
a processing server, wherein
the first computing system transmits a proposal message to the second computing system, wherein the proposal message includes at least an amount of digital assets that are to be transferred in a new currency transfer to be made between the first computing system and the second computing system,
the first computing system and the second computing system establish an agreement on the new currency transfer to be made,
subsequent to the first computing system and the second computing system establishing the agreement, the first computing system transmits a transfer notification to the processing server, wherein the transfer notification includes including at least (i) a sending identifier associated with the first computing system, (ii) a recipient identifier associated with the second computing system, (iii) a transfer amount, and (iv) at least one unspent transaction output that pertains to a prior blockchain transaction in a private blockchain and in which currency for the prior blockchain transaction is unspent, and
the processing server includes
a receiver receiving the transfer notification from the first computing system, and
a processor
performing a successful validation of the transfer notification by (i) validating a digital signature and (ii) transmitting a message to the second computing system requesting assurance that the second computing system approves of the new currency transfer;
in response to the successful validation,
executing, by a processor of the processing server, the new currency transfer by transferring the transfer amount from the at least one unspent transaction output to a destination address,
generating a transaction data value for the new currency transfer, the transaction data value including at least the sending identifier, the recipient identifier, and the transfer amount,
generating a first new block for inclusion in the private blockchain, said private blockchain being accessible only by the processing server, said first new block including the transaction data value and the at least one unspent transaction output;
generating a hash value that is collision-resistant by applying a cryptographic hashing function to the generated transaction data value,
generating a second new block for inclusion in a public blockchain that is accessible by the processing server, first computing system and second computing system, said second new block includes the collision-resistant hash value;
publishing the generated first new block including the transaction data value to the private blockchain that is accessible by the processing server, and
publishing the generated second new block including the collision resistant hash value to the public or permissioned blockchain that is accessible by the processing server, first computing system and second computing system.
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