Method and system for data localization-compliant blockchain processing and storage

1. A method for ensuring compliance with data localization rules and regulations for blockchain data values in a blockchain network, comprising:

receiving, by a receiver of a local node in a blockchain network, a new blockchain data value including at least a digital signature, a public key, and a destination address;

identifying, by a processing device of the local node, a first country using the public key and a second country using the destination address, where the local node is located in the first country or the second country;

transmitting, by a transmitter of the local node, the received new blockchain data value to a foreign node in the blockchain network, where the foreign node is located in (i) the second country if the local node is located in the first country, or (ii) the first country if the local node is located in the second country;

generating, by the processing device of the local node, a new block for a blockchain, the new block including a block header and a plurality of blockchain data values, where the plurality of blockchain data values includes at least the received new blockchain data value; and

transmitting, by the transmitter of the local node, the generated new block to a plurality of additional nodes in the blockchain network, where each of the plurality of additional nodes are located in (i) the first country if the local node is located in the first country, or (ii) the second country if the local node is located in the second country.

2. The method of claim 1 , wherein the new blockchain data value is received from a computing device located in (i) the first country if the local node is located in the first country, or (ii) the second country if the local node is located in the second country.

3. The method of claim 1 , wherein the transmitting step is skipped if the new blockchain data value is received from the foreign node.

4. The method of claim 1 , wherein

the new blockchain data value includes an input transaction reference in place of the public key, and

the method further comprises:

identifying, by the processing device of the local node, the public key in a past blockchain data value stored in a blockchain associated with the blockchain network based on the input transaction reference.

5. The method of claim 1 , wherein the first country and the second country are identified by supplying the public key and the destination address as inputs to one or more smart contracts.

6. The method of claim 1 , further comprising:

receiving, by the receiver of the local node, a confirmation message from the foreign node for the new blockchain data value.

7. The method of claim 6 , wherein the confirmation message is received prior to generating the new block.

8. The method of claim 1 , further comprising:

validating, by the processing device of the local node, the digital signature using the public key prior to transmitting the new received blockchain data value.

9. A system for ensuring compliance with data localization rules and regulations for blockchain data values in a blockchain network, comprising:

a local node in a blockchain network located in a first country or a second country; and

a foreign node in the blockchain network located in (i) the second country if the local node is located in the first country, or (ii) the first country if the local node is located in the second country, wherein

the local node includes

a receiver of a local node in a blockchain network configured to receive a new blockchain data value including at least a digital signature, a public key, and a destination address,

a processing device configured to identify the first country using the public key and the second country using the destination address, and

a transmitter configured to transmit the received new blockchain data value to the foreign node, wherein

the processing device is further configured to generate a new block for a blockchain, the new block including a block header and a plurality of blockchain data values, where the plurality of blockchain data values includes at least the received new blockchain data value, and

the transmitter is further configured to transmit the generated new block to a plurality of additional nodes in the blockchain network, where each of the plurality of additional nodes are located in (i) the first country if the local node is located in the first country, or (ii) the second country if the local node is located in the second country.

10. The system of claim 9 , wherein the new blockchain data value is received from a computing device located in (i) the first country if the local node is located in the first country, or (ii) the second country if the local node is located in the second country.

11. The system of claim 9 , wherein the transmitting step is skipped if the new blockchain data value is received from the foreign node.

12. The system of claim 9 , wherein

the new blockchain data value includes an input transaction reference in place of the public key, and

the processing device of the local node is further configured to identify the public key in a past blockchain data value stored in a blockchain associated with the blockchain network based on the input transaction reference.

13. The system of claim 9 , wherein the first country and the second country are identified by supplying the public key and the destination address as inputs to one or more smart contracts.

14. The system of claim 9 , wherein the receiver of the local node is further configured to receive a confirmation message from the foreign node for the new blockchain data value.

15. The system of claim 14 , wherein the confirmation message is received prior to generating the new block.

16. The system of claim 9 , wherein the processing device of the local node is further configured to validate the digital signature using the public key prior to transmitting the new received blockchain data value.