System and method for managing transactions in dynamic digital documents
System and methods for managing dynamic electronic documents on a private distributed ledger comprise establishing a dynamic electronic document comprising a first state object, wherein the state object references a prior approved first transaction; proposing a second transaction comprising as an input the first state object and as an output a transaction command to alter the state object as well as what parameters are required to validate the second transaction; validating the proposed second transaction; and updating the state object on a private distributed ledger to reference the second transaction.
1. A method performed by a first computing system, comprising one or more processors, of a first node of a first entity for conducting a transaction relating to a state object having state, the first node being a node of a distributed ledger that is not a blockchain, the method comprising:
accessing, with the one or more processors of the first computing system of the first node, the state object, the state object further identifying the first entity and a second entity, the first entity and the second entity having permission to access the state object;
accessing, with at least one processor of the first computing system of the first node, a proposed transaction to change the state object, wherein the proposed transaction identifies an output state for the state object;
receiving, with at least one processor of the first computing system of the first node, a verified transaction electronically signed by a verification service, wherein the verified transaction is an indication that an input state of the state object is not in a register of consumed input states maintained by the verification service; and
storing, with at least one processor of the first computing system of the first node, the verified transaction as part of the distributed ledger to record the change to the state object.
2. The method of claim 1 wherein the state object has machine-readable instructions of a smart contract for validating changes to the state object and further comprising validating the proposed transaction by executing the machine-readable instructions.
3. The method of claim 1 further comprising sending the verified transaction to a second computing system of a second node of the second entity, the second node being a node of the distributed ledger.
4. The method of claim 3 wherein the verified transaction is received from the verification service.
5. The method of claim 3 wherein the state object has machine-readable instructions of a smart contract for validating changes to the state object and further comprising validating the proposed transaction by executing the machine-readable instructions.
6. The method of claim 1 further comprising generating and electronically signing by the first entity the proposed transaction.
7. The method of claim 6 wherein the state object is electronically signed by the second entity having a second computing system of a second node of the distributed ledger and further comprising sending the proposed transaction to the second computing system and receiving the verified transaction from the second computing system.
8. The method of claim 6 further comprising sending the proposed transaction to the verification service and receiving the verified transaction from the verification service.
9. The method of claim 6 wherein the state object is electronically signed by the second entity having a second computing system of a second node of the distributed ledger and further comprising sending the proposed transaction to the second computing system and receiving the proposed transaction signed by the second entity from the second computing system.
10. The method of claim 9 further comprising sending the proposed transaction signed by the second entity to the verification service and receiving the verified transaction from the verification service.
11. The method of claim 10 further comprising sending the verified transaction to the second computing system.
12. The method of claim 1 wherein the state object is electronically signed by the second entity having a second computing system of a second node of the distributed ledger and further comprising receiving the proposed transaction from the second computing system, the proposed transaction being electronically signed by the second entity.
13. The method of claim 12 further comprising sending the proposed transaction to the verification service and receiving the verified transaction from the verification service.
14. The method of claim 13 further comprising sending the verified transaction to the second computing system.
15. The method of claim 12 further receiving the verified transaction from the second computing system.
16. The method of claim 15 further comprising electronically signing the proposed transaction and sending the electronically signed proposed transaction to the second computing system.
17. One or more computing systems of a first node of a first entity for conducting a transaction relating to a state object having state, the first node being a node of a distributed ledger that is not a blockchain, the one or more computing systems of the first node of the first entity comprising:
one or more computer-readable storage mediums for storing:
the state object, the state object further identifying the first entity and a second entity;
a proposed transaction to change the state object, the proposed transaction identifying an output state for the state object; and
computer-executable instructions for controlling the one or more computing systems of the first node of the first entity to:
receive a verified transaction electronically signed by a verification service, wherein the received verified transaction is an indication that an input state of the state object is not in a register of consumed input states maintained by the verification service, and
store the verified transaction as part of the distributed ledger to record the change to the state object; and
one or more processors for executing the computer-executable instructions stored in the one or more computer-readable storage mediums.
18. The one or more computing system of claim 17 wherein the state object has machine-readable instructions of a smart contract for validating changes to the state object and wherein the computer-executable instructions further control the one or more computing systems of the first node to validate the proposed transaction by executing the machine-readable instructions.
19. The one or more computing systems of claim 17 wherein the computer-executable instructions further control the one or more computing systems of the first node to send the verified transaction to a second computing system of a second node of the second entity, the second node being a node of the distributed ledger.
20. The one or more computing systems of claim 19 wherein the verified transaction is received from the verification service.
21. The one or more computing systems of claim 19 wherein the state object has machine-readable instructions of a smart contract for validating changes to the state object and wherein the computer-executable instructions further control the one or more computing systems of the first node to validate the proposed transaction by executing the machine-readable instructions.
22. The one or more computing systems of claim 17 wherein the computer-executable instructions further control the one or more computing systems of the first node to generate and electronically sign the proposed transaction.
23. The one or more computing systems of claim 22 wherein the state object is electronically signed by the second entity having a second computing system of a second node of the distributed ledger and wherein the computer-executable instructions further control the one or more computing systems of the first node to send the proposed transaction to the second computing system of the second node and receive the verified transaction from the second computing system.
24. The one or more computing systems of claim 22 wherein the computer-executable instructions further control the one or more computing systems of the first node to send the proposed transaction to the verification service and receive the verified transaction from the verification service.
25. The one or more computing systems of claim 22 wherein the state object is electronically signed by the second entity having a second computing system of a second node of the distributed ledger and wherein the computer-executable instructions further control the one or more computing systems of the first node to send the proposed transaction to the second computing system of the second node and receive the proposed transaction signed by the second entity from the second computing system.
26. The one or more computing systems of claim 25 wherein the computer-executable instructions further control the one or more computing systems of the first node to send the proposed transaction signed by the second entity to the verification service and receive the verified transaction from the verification service.
27. The one or more computing systems of claim 26 wherein the computer-executable instructions further control the one or more computing systems of the first node to send the verified transaction to the second computing system.
28. The one or more computing systems of claim 17 wherein the state object is electronically signed by the second entity having a second computing system of a second node of the distributed ledger and wherein the computer-executable instructions further control the one or more computing systems of the first node to receive the proposed transaction from the second computing system of the second node, the proposed transaction being electronically signed by the second entity.
29. The one or more computing systems of claim 28 wherein the computer-executable instructions further control the one or more computing systems of the first node to send the proposed transaction to the verification service and receive the verified transaction from the verification service.
30. The one or more computing systems of claim 29 wherein the computer-executable instructions further control the one or more computing systems of the first node to send the verified transaction to the second computing system of the second node.
31. The one or more computing systems of claim 28 wherein the computer-executable instructions further control the one or more computing systems of the first node to receive the verified transaction from the second computing system of the second node.
32. The one or more computing systems of claim 31 wherein the computer-executable instructions further control the one or more computing systems of the first node to electronically sign the proposed transaction and send the electronically signed proposed transaction to the second computing system of the second node.