AU2018100149A4 - Abcde - Google Patents

Abcde Download PDF

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Publication number
AU2018100149A4
AU2018100149A4 AU2018100149A AU2018100149A AU2018100149A4 AU 2018100149 A4 AU2018100149 A4 AU 2018100149A4 AU 2018100149 A AU2018100149 A AU 2018100149A AU 2018100149 A AU2018100149 A AU 2018100149A AU 2018100149 A4 AU2018100149 A4 AU 2018100149A4
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AU
Australia
Prior art keywords
contract
hash
parties
blockchain
smart contract
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
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Application number
AU2018100149A
Inventor
Gregory Peter Lee
Keith Stewart Alistair Redenbach
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Redenbach Lee Lawyers Pty Ltd
Original Assignee
Redenbach Lee Lawyers Pty Ltd
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Redenbach Lee Lawyers Pty Ltd filed Critical Redenbach Lee Lawyers Pty Ltd
Priority to AU2018100149A priority Critical patent/AU2018100149A4/en
Application granted granted Critical
Publication of AU2018100149A4 publication Critical patent/AU2018100149A4/en
Active legal-status Critical Current
Anticipated expiration legal-status Critical

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Classifications

    • HELECTRICITY
    • H04ELECTRIC COMMUNICATION TECHNIQUE
    • H04LTRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L9/00Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols
    • H04L9/32Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols including means for verifying the identity or authority of a user of the system or for message authentication, e.g. authorization, entity authentication, data integrity or data verification, non-repudiation, key authentication or verification of credentials
    • HELECTRICITY
    • H04ELECTRIC COMMUNICATION TECHNIQUE
    • H04LTRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L9/00Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols
    • H04L9/50Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols using hash chains, e.g. blockchains or hash trees

Abstract

Abstract Storing the hash of an agreed form of contract on the blockchain in a private format only the parties can access. The contract itself will be stored on an online repository accessible to anyone in possession of the login credentials. Any person in possession of the credentials for the relevant online repository, the hash and the original contract can verify that the hash is a representation of the original document. The contract document will be stored privately with controlled access (e.g. on an online repository) while the hash is stored within a smart contract on the Ethereum (or similar) blockchain. This allows anyone to take the original document that's on the github repo to reproduce the hash to verify that what has been put onto the chain represents the original document with non-repudiation; Agreement to the terms of the contract by parties who do so by utilising their wallets - the use of wallets means that the signing of the contract is traced to the parties; and The parties use their public key to publicly declare who they are in the smart contract, and use an open source Ethereum (or similar) wallet such as MEW (or similar) to send a transaction to the smart contract, including the hash they wish to agree to and a message that includes their name, the date and their intention to sign the contract. The smart contract verifies both the document hashes and that they are a signatory to the hash. The smart contract then emits an event to the blockchain as well as stores the state within the contract. This process holds true under the assumption that the private keys of the participants (and their encryption passwords) remain secret.

Description

Description
Since the invention of Contract Law by the common law courts, parties have negotiated written contracts as a way to avoid disputation over their bargain. The advent of word processing has aided drafting and negotiations of contracts such that contracts are regularly reduced to writing in very detailed form. Certain requirements exist for the execution of contracts such that they must follow a process for risk not being legally binding. Redenbach Lee has developed a way to both satisfy the very particular legal requirements that exist in various justifications, commonly those pertaining to the execution of deeds, by use of the Auditable Blockchain Contract Documentation Execution System (ABCDE). Byu reason of the fusion of the usual standard way of the negotiating and preparing executable versions of the contract, together with the latest Blockchain technology based on the Ethereum (or similar) platform Redenbach Lee has created an impervious system of auditing the execution of contract in such a way as has never been created in commercial use or production before. The system which is described below in the Abstract has the potential to revolutionise and streamline existing systems and methods by: 1. Creating a verifiable, auditable system of contract management and execution; 2. Facilitating the execution of contracts to occur in a secure and encrypted Blockchain Environment; 3. Enable large-scale contracts to be executed regardless of each parties’ location.

Claims (1)

  1. Claim ABODE is a decentralised, Ethereum (or similar) blockchain-based, smart-contract execution medium that allows parties to securely verify and execute agreements.
AU2018100149A 2018-02-02 2018-02-02 Abcde Active AU2018100149A4 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU2018100149A AU2018100149A4 (en) 2018-02-02 2018-02-02 Abcde

Applications Claiming Priority (1)

Application Number Priority Date Filing Date Title
AU2018100149A AU2018100149A4 (en) 2018-02-02 2018-02-02 Abcde

Publications (1)

Publication Number Publication Date
AU2018100149A4 true AU2018100149A4 (en) 2018-03-08

Family

ID=61512117

Family Applications (1)

Application Number Title Priority Date Filing Date
AU2018100149A Active AU2018100149A4 (en) 2018-02-02 2018-02-02 Abcde

Country Status (1)

Country Link
AU (1) AU2018100149A4 (en)

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US11138590B2 (en) 2017-12-11 2021-10-05 Titan Seal, Inc. Apparatus and method for embedding digital certifications within documents

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US11138590B2 (en) 2017-12-11 2021-10-05 Titan Seal, Inc. Apparatus and method for embedding digital certifications within documents

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Legal Events

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FGI Letters patent sealed or granted (innovation patent)