DIGITAL ASSET INTERMEDIARY ELECTRONIC SETTLEMENT PLATFORM
A digital asset settlement method includes receiving from a first user an authorization for a conditional transaction involving a digital right, which has been digitized on a distributed ledger, matching the authorization for transaction from the first user with an authorization for transaction from at least one other user, settling the transaction between at least the first and other users if the conditional is met, and memorializing the settled transaction on the distributed ledger.
1 . A computer implemented method for tracking transaction status in accordance with a contract, the method comprising:
storing business logic information, the business logic information, corresponding to a contract between parties on a distributed peer-to-peer network, the business logic information defining plural linked transaction states, each transaction state having at least one validation condition corresponding to at least one other transaction state, the distributed peer-to-peer network including a common network protocol and a cryptographic security mechanism allowing users to transact directly with one another and plural nodes each having a copy of a distributed ledger stored thereon;
validating, by a server system, a change in a transaction state, from a first state to a second state in accordance with available data and the business logic information, in response to receipt of validation information indicating that the at least one validation condition of the first state has been satisfied; and
sending, by the server system, transaction state data to the distributed peer-to-peer network for inclusion on the plural nodes, the transaction state data specifying that the transaction is in the second state corresponding to the at least one validation condition that has been satisfied, the transaction state data also specifying at least one validation condition of the second state and at least one transaction state that corresponds to the at least one validation condition of the second state.
2 . The method of claim 1 , wherein the validation information includes private cryptographic identification elements corresponding to the parties.
3 . The method of claim 1 , wherein the transaction state data is encrypted based on the private cryptographic identification elements of the parties and thereby being viewable only by the parties.
4 . The method of claim 1 , wherein the private cryptographic identification elements are cryptographic signatures of the parties which are derived from respective private cryptographic keys.
5 . The method of claim 1 , wherein the distributed peer-to-peer transaction network is a blockchain network.
6 . The method of claim 6 , wherein the distributed peer-to-peer transaction network is the Bitcoin Blockchain.
7 . The method of claim 5 , wherein the cryptographic keys are stored in a crypto-currency wallet.
8 . A computer system for tracking transaction status in accordance with a contract, the system comprising:
at least one processor;
one or more memories operatively coupled to the at least one processor and having computer readable instructions stored thereon which, when executed by the at least one processors, causes the at least one processors to:
store business logic information, the business logic information, corresponding to a contract between parties on a distributed peer-to-peer network, the business logic information defining plural linked transaction states, each transaction state having at least one validation condition corresponding to at least one other transaction state, the distributed peer-to-peer network including a common network protocol and a cryptographic security mechanism allowing users to transact directly with one another and plural nodes each having a copy of a distributed ledger stored thereon;
validate, by a server system, a change in a transaction state, from a first state to a second state in accordance with available data and the business logic information, in response to receipt of validation information indicating that the at least one validation condition of the first state has been satisfied; and
send, by the server system, transaction state data to the distributed peer-to-peer network for inclusion on the plural nodes, the transaction state data specifying that the transaction is in the second state corresponding to the at least one validation condition that has been satisfied, the transaction state data also specifying at least one validation condition of the second state and at least one transaction state that corresponds to the at least one validation condition of the second state.
9 . The system of claim 8 , wherein the validation information includes private cryptographic identification elements corresponding to the parties.
10 . The system of claim 8 , wherein the transaction state data is encrypted based on the private cryptographic identification elements of the parties and thereby being viewable only by the parties.
11 . The system of claim 8 , wherein the private cryptographic identification elements are cryptographic signatures of the parties which are derived from respective private cryptographic keys.
12 . The system of claim 8 , wherein the distributed peer-to-peer transaction network is a blockchain network.
13 . The system of claim 12 , wherein the distributed peer-to-peer transaction network is the Bitcoin Blockchain.
14 . The system of claim 11 , wherein the cryptographic keys are stored in a crypto-currency wallet.
15 . Non-transitory computer readable media having computer readable instructions stored thereon which, when executed by at least one computer processor, causes the at least one processor to:
store business logic information, the business logic information, corresponding to a contract between parties on a distributed peer-to-peer network, the business logic information defining plural linked transaction states, each transaction state having at least one validation condition corresponding to at least one other transaction state, the distributed peer-to-peer network including a common network protocol and a cryptographic security mechanism allowing users to transact directly with one another and plural nodes each having a copy of a distributed ledger stored thereon;
validate, by a server system, a change in a transaction state, from a first state to a second state in accordance with available data and the business logic information, in response to receipt of validation information indicating that the at least one validation condition of the first state has been satisfied; and
send, by the server system, transaction state data to the distributed peer-to-peer network for inclusion on the plural nodes, the transaction state data specifying that the transaction is in the second state corresponding to the at least one validation condition that has been satisfied, the transaction state data also specifying at least one validation condition of the second state and at least one transaction state that corresponds to the at least one validation condition of the second state.
16 . The media of claim 15 , wherein the validation information includes private cryptographic identification elements corresponding to the parties.
17 . The media of claim 15 , wherein the transaction state data is encrypted based on the private cryptographic identification elements of the parties and thereby being viewable only by the parties.
18 . The media of claim 17 , wherein the private cryptographic identification elements are cryptographic signatures of the parties which are derived from respective private cryptographic keys.
19 . The media of claim 15 , wherein the distributed peer-to-peer transaction network is a blockchain network.
20 . The media of claim 19 , wherein the distributed peer-to-peer transaction network is the Bitcoin Blockchain.
21 . The media of claim 18 , wherein the cryptographic keys are stored in a crypto-currency wallet.