Secure control of transactions using blockchain
Technologies are shown for controlling a transaction on a digitally stored blockchain by creating a contract data block for a transaction involving entities and by event code executed after receipt of digital signatures from the entities. A refund transaction may be digitally signed by entities and linked to the contract block within the blockchain. A payment transaction block may also be digitally signed by entities and linked to the contract block. Code authorized to execute by the blocks executes based on receipt of digital signature events.
1. A computer-implemented method comprising:
in response to receiving a first transaction, creating a first contract block on a blockchain, the first contract block storing a seller key of a seller entity, a first buyer key of a first buyer entity, and an intermediary key of an intermediary entity;
storing funds data for the first transaction to the blockchain, the funds data for the first transaction indicating funds are committed to the first transaction by the first buyer entity;
creating a first refund transaction block storing a refund code, the refund code executable to refund the committed funds for the first transaction to the first buyer entity when a seller digital signature using the seller key and/or an intermediary digital signature using the intermediary key are received signing the first refund transaction block without receiving a buyer digital signature using the first buyer key;
linking the first refund transaction block to the first contract block on the blockchain;
creating a first payment transaction block storing a payment code, the payment code executable to transfer the committed funds for the first transaction to an account of the seller entity when a first buyer entity digital signature using the first buyer key and/or the intermediary entity digital signature using the intermediary key are received signing the first payment transaction block without the seller digital signature using the seller key; and
linking the first payment transaction block to the first contract block on the blockchain.
2. The computer-implemented method of claim 1 , wherein the refund code is further executable to verify the seller digital signature and/or the intermediary digital signature at least partially based on data within the first refund transaction block before refund of the committed funds.
3. The computer-implemented method of claim 1 , wherein the payment code is further executable to verify the first buyer digital signature and/or the intermediary digital signature at least partially based on data within the first payment transaction block before transfer of the committed funds.
4. The computer-implemented method of claim 1 , wherein the method further comprises:
creating a multisignature address using the first buyer key for the first buyer entity, the seller key for the seller entity, and the intermediary key for the intermediary entity; and
wherein creating the first contract block on the blockchain comprises creating the first contract block on the blockchain with the multisignature address.
5. The computer-implemented method of claim 1 , wherein the method further comprises:
in response to receiving a second transaction, creating a second contract block on the blockchain, the second contract block storing the seller key of the seller entity, a second buyer key of a second buyer entity and the intermediary key of the intermediary entity;
storing funds data for the second transaction to the blockchain, the funds data for the second transaction indicating funds are committed to the second transaction by the second buyer entity;
creating a second refund transaction block storing a second refund code executable to refund the committed funds for the second transaction to the second buyer entity when data of the second refund transaction block is signed using the seller key and/or the intermediary key, and linking the second refund transaction block to the second contract block;
creating a second payment transaction block storing a second payment code executable to transfer the committed funds for the second transaction to the seller entity when data of the second payment transaction block is signed using the second buyer key and/or the intermediary key, and linking the second payment transaction block to the second contract block; and
refunding the committed funds for the second transaction to the second buyer entity by signing the second refund transaction block by at least one of the seller key and the intermediary key.
6. One or more transitory computer storage media having computer executable instructions stored thereon which, when executed by one or more processors, cause the processors to operations comprising:
in response to receiving a first transaction, creating a first contract block on a blockchain, the first contract block storing a seller key of a seller entity first buyer key of a first buyer entity, and an intermediary key of an intermediary entity;
storing funds data for the first transaction to the blockchain, the funds data for the first transaction indicating funds are committed to the first transaction by the first buyer entity;
creating a first refund transaction block storing a refund code, the refund code executable to refund the committed funds for the first transaction to the first buyer entity when a seller digital signature using the seller key and/or an intermediary digital signature using the intermediary key are received signing the first refund transaction block without receiving a buyer digital signature using the first buyer key;
linking the first refund transaction block to the first contract block on the blockchain;
creating a first payment transaction block storing a payment code, the payment code executable to transfer the committed funds for the first transaction to an account of the seller entity when a first buyer entity digital signature using the first buyer key and/or the intermediary entity digital signature using the intermediary key are received signing the first payment transaction block without the seller digital signature using the seller key; and
linking the first payment transaction block to the first contract block on the blockchain.
7. The one or more computer storage media of claim 6 , wherein the refund code is further executable to verify the seller digital signature and/or the intermediary digital signature at least partially based on data within the first refund transaction block before the refund of the committed funds; and wherein the payment code is further executable to verify the first buyer digital signature and/or the intermediary digital signature at least partially based on data within the first payment transaction block before the transfer of the committed funds.
8. The one or more computer storage media of claim 6 , wherein the operations further comprise:
executing the payment code to transfer the committed funds for the first transaction to the seller entity by signing data in the first payment transaction block by the first buyer entity key and/or the intermediary entity key.
9. The one or more computer storage media of claim 6 , wherein the operations further comprise:
creating a multisignature address using the first buyer key for the first buyer entity, the seller key for the seller entity, and the intermediary key for the intermediary entity; and
wherein creating the first contract block on the blockchain comprises creating the first contract block on the blockchain with the multisignature address.
10. The one or more computer storage media of claim 6 , wherein the operations further comprise:
creating a second contract block on the blockchain for a second transaction, the second contract block storing the seller key of the seller entity, a second seller key of a second buyer entity and the intermediary key of the intermediary entity;
committing funds for the second transaction to the blockchain by the second buyer entity;
creating a second refund transaction block storing a second refund code executable to refund the committed funds for the second transaction to the second buyer entity when data in the second refund transaction block is signed using the seller key and/or the intermediary key, and linking the second refund transaction block to the second contract block;
creating a second payment transaction block storing a second payment code executable to transfer the committed funds for the second transaction to the seller entity when data in the second payment transaction block is signed using the second buyer key and/or the intermediary key, and linking the second payment transaction block to the second contract block; and
refunding the committed funds for the second transaction to the second buyer entity by signing the second refund transaction block by at least one of the seller key and the intermediary key.
11. A system comprising:
one or more processors; and
one or more memory devices in communication with the one or more processors, the memory devices having computer-readable instructions stored thereupon that, when executed by the one or more processors, cause the one or more processors to perform a operations comprising:
in response to receiving a first transaction, creating a first contract block on a blockchain, the first contract block storing a seller key of a seller entity, a first buyer key of a first buyer entity, and an intermediary key of an intermediary entity;
storing funds data for the first transaction to the blockchain, the funds data for the first transaction indicating funds are committed to the first transaction by the first buyer entity;
creating a first refund transaction block storing a refund code, the refund code executable to refund the committed funds for the first transaction to the first buyer entity when a seller digital signature using the seller key and/or an intermediary digital signature using the intermediary key are received signing the first refund transaction block without receiving a buyer digital signature using the first buyer key;
linking the first refund transaction block to the first contract block on the blockchain;
creating a first payment transaction block storing a payment code, the payment code executable to transfer the committed funds for the first transaction to an account of the seller entity when a first buyer entity digital signature using the first buyer key and/or the intermediary entity digital signature using the intermediary key are received signing the first payment transaction block without the seller digital signature using the seller key; and
linking the first payment transaction block to the first contract block on the blockchain.
12. The system of claim 11 , wherein the refund code is further executable to verify the seller digital signature and/or the intermediary digital signature at least partially based on data within the first refund transaction block before refund of the committed funds.
13. The system of claim 11 , wherein the payment code is further executable to verify the first buyer digital signature and/or the intermediary digital signature at least partially based on data within the first payment transaction block before the transfer of the committed funds.
14. The system of claim 11 , wherein the operations further comprise:
creating a multisignature address using the first buyer key for the first buyer entity, the seller key for the seller entity, and the intermediary key for the intermediary entity; and
wherein creating the first contract block on the blockchain comprises creating the first contract block on the blockchain with the multisignature address.
15. The system of claim 11 , wherein the operations further comprise:
in response to receiving a second transaction, creating a second contract block on the blockchain, the second contract block storing the seller key of the seller entity, a second buyer key of a second buyer entity and the intermediary key of the intermediary entity;
storing funds data for the second transaction to the blockchain, the funds data for the second transaction indicating funds are committed to the second transaction by the second buyer entity;
creating a second refund transaction block storing a second refund code executable to refund the committed funds for the second transaction to the second buyer entity when data of the second refund transaction block is signed using the seller key and/or the intermediary key, and linking the second refund transaction block to the second contract block;
creating a second payment transaction block storing a second payment code executable to transfer the committed funds for the second transaction to the seller entity when data of the second payment transaction block is signed using the second buyer key and/or the intermediary key, and linking the second payment transaction block to the second contract block; and
refunding the committed funds for the second transaction to the second buyer entity by signing the second refund transaction block by at least one of the seller key and the intermediary key.