SG11201901553RA - Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain - Google Patents

Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain

Info

Publication number
SG11201901553RA
SG11201901553RA SG11201901553RA SG11201901553RA SG11201901553RA SG 11201901553R A SG11201901553R A SG 11201901553RA SG 11201901553R A SG11201901553R A SG 11201901553RA SG 11201901553R A SG11201901553R A SG 11201901553RA SG 11201901553R A SG11201901553R A SG 11201901553RA
Authority
SG
Singapore
Prior art keywords
international
blockchain
transaction
promissory note
cryptographic
Prior art date
Application number
SG11201901553RA
Inventor
Stephen Higgins
Original Assignee
Mastercard International Inc
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 Mastercard International Inc filed Critical Mastercard International Inc
Publication of SG11201901553RA publication Critical patent/SG11201901553RA/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
    • G06Q20/401—Transaction verification
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/02—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G06Q20/06—Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
    • G06Q20/065—Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme using e-cash
    • H—ELECTRICITY
    • H04—ELECTRIC COMMUNICATION TECHNIQUE
    • H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L63/00—Network architectures or network communication protocols for network security
    • H04L63/04—Network architectures or network communication protocols for network security for providing a confidential data exchange among entities communicating through data packet networks
    • H04L63/0428—Network architectures or network communication protocols for network security for providing a confidential data exchange among entities communicating through data packet networks wherein the data content is protected, e.g. by encrypting or encapsulating the payload
    • H04L63/0435—Network architectures or network communication protocols for network security for providing a confidential data exchange among entities communicating through data packet networks wherein the data content is protected, e.g. by encrypting or encapsulating the payload wherein the sending and receiving network entities apply symmetric encryption, i.e. same key used for encryption and decryption

Landscapes

  • Business, Economics & Management (AREA)
  • Engineering & Computer Science (AREA)
  • Accounting & Taxation (AREA)
  • Computer Security & Cryptography (AREA)
  • General Physics & Mathematics (AREA)
  • Strategic Management (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • Theoretical Computer Science (AREA)
  • Finance (AREA)
  • Computer Networks & Wireless Communication (AREA)
  • Signal Processing (AREA)
  • General Engineering & Computer Science (AREA)
  • Computing Systems (AREA)
  • Computer Hardware Design (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

06 100 Processing Server Consumers Merchants 114 102-- Issuing Institution Acquiring Institution 112 110 108 O cc O cc O O (12) INTERNATIONAL APPLICATION PUBLISHED UNDER THE PATENT COOPERATION TREATY (PCT) (19) World Intellectual Property Organization International Bureau (43) International Publication Date 11 May 2018 (11.05.2018) WIPO I PCT omit VIII °nolo III m H 100 0111 OH oimIE (10) International Publication Number WO 2018/085011 Al (51) International Patent Classification: G06Q 20/02 (2012.01) G06Q 20/06 (2012.01) (21) International Application Number: PCT/US2017/056008 (22) International Filing Date: 11 October 2017 (11.10.2017) (25) Filing Language: English (26) Publication Language: English (30) Priority Data: 15/342,463 03 November 2016 (03.11.2016) US (71) Applicant: MASTERCARD INTERNATIONAL IN- CORPORATED [US/US]; 2000 Purchase Street, Pur- chase, NY 10577 (US). (72) Inventor: HIGGINS, Stephen; Pouladown, Water- grasshill, Cork (IE). (74) Agent: DOBBYN, Colm, J.; Mastercard International In- corporated, 2000 Purchase Street, Purchase, NY 10577 (US). (81) Designated States (unless otherwise indicated, for every kind of national protection available): AE, AG, AL, AM, AO, AT, AU, AZ, BA, BB, BG, BH, BN, BR, BW, BY, BZ, CA, CH, CL, CN, CO, CR, CU, CZ, DE, DJ, DK, DM, DO, DZ, EC, EE, EG, ES, FI, GB, GD, GE, GH, GM, GT, HN, HR, HU, ID, IL, IN, IR, IS, JO, JP, KE, KG, KH, KN, KP, KR, KW, KZ, LA, LC, LK, LR, LS, LU, LY, MA, MD, ME, MG, MK, MN, MW, MX, MY, MZ, NA, NG, NI, NO, NZ, OM, PA, PE, PG, PH, PL, PT, QA, RO, RS, RU, RW, SA, SC, SD, SE, SG, SK, SL, SM, ST, SV, SY, TH, TJ, TM, TN, TR, TT, TZ, UA, UG, US, UZ, VC, VN, ZA, ZM, ZW. (54) Title: METHOD AND SYSTEM FOR NET SETTLEMENT BY USE OF CRYPTOGRAPHIC PROMISSORY NOTES ISSUED ON A BLOCKCHAIN FIG. (57) : A method for generating a cryptographic promissory note for posting to a blockchain includes: receiving an authorization request for a payment transaction, the authorization request being a transaction message formatted based on one or more standards that includes a plurality of data elements including a first data element configured to store a blockchain address and a second data element configured to store a transaction amount; generating a promissory note including the transaction amount; digitally signing the generated promissory note with a private key; encrypting the signed promissory note with a symmetric key; wrapping the symmetric key with a public key corresponding to the private key and a public key associated with an acquirer involved in the payment transaction; and electronically transmitting a blockchain transaction to a blockchain network that includes the encrypted promissory note, each symmetric key, and the blockchain address. [Continued on next page] WO 2018/085011 Al O II (84) Designated States (unless otherwise indicated, for every kind of regional protection available): ARIPO (BW, GH, GM, KE, LR, LS, MW, MZ, NA, RW, SD, SL, ST, SZ, TZ, UG, ZM, ZW), Eurasian (AM, AZ, BY, KG, KZ, RU, TJ, TM), European (AL, AT, BE, BG, CH, CY, CZ, DE, DK, EE, ES, FI, FR, GB, GR, HR, HU, IE, IS, IT, LT, LU, LV, MC, MK, MT, NL, NO, PL, PT, RO, RS, SE, SI, SK, SM, TR), OAPI (BF, BJ, CF, CG, CI, CM, GA, GN, GQ, GW, KM, ML, MR, NE, SN, TD, TG). Published: — with international search report (Art. 21(3))
SG11201901553RA 2016-11-03 2017-10-11 Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain SG11201901553RA (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US15/342,463 US20180121918A1 (en) 2016-11-03 2016-11-03 Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain
PCT/US2017/056008 WO2018085011A1 (en) 2016-11-03 2017-10-11 Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain

Publications (1)

Publication Number Publication Date
SG11201901553RA true SG11201901553RA (en) 2019-05-30

Family

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Family Applications (2)

Application Number Title Priority Date Filing Date
SG10202111926PA SG10202111926PA (en) 2016-11-03 2017-10-11 Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain
SG11201901553RA SG11201901553RA (en) 2016-11-03 2017-10-11 Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain

Family Applications Before (1)

Application Number Title Priority Date Filing Date
SG10202111926PA SG10202111926PA (en) 2016-11-03 2017-10-11 Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain

Country Status (5)

Country Link
US (1) US20180121918A1 (en)
EP (2) EP4125018A1 (en)
CN (1) CN109791655A (en)
SG (2) SG10202111926PA (en)
WO (1) WO2018085011A1 (en)

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Also Published As

Publication number Publication date
US20180121918A1 (en) 2018-05-03
EP4125018A1 (en) 2023-02-01
WO2018085011A1 (en) 2018-05-11
EP3535723A1 (en) 2019-09-11
SG10202111926PA (en) 2021-11-29
CN109791655A (en) 2019-05-21

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