Patent ID: 11935037
Assignee: DIGITAL ASSET (SWITZERLAND) GMBH
Field: Digital communication (Electrical engineering)
Classification: CPC G  H | IPC G  H

Claim 0:
1. A system for managing transfer of digital assets with digital locks, recorded on a distributed ledger, between a plurality of participants, the system comprising:
a processor of a first computer node of a first participant; and
memory storing program instructions that, when executed by the processor of the first computer node of the first participant, cause the processor to perform the steps of:
sending a first proposed digital lock including a first inactive digital lock for a transaction of the transfer of a first digital asset from the first participant to a receiving participant, wherein the first digital lock, when activated, can prevent the transfer of the first digital asset from the first participant to another participant that is not the receiving participant, wherein the proposed first digital lock comprises a cryptographic signature of the first participant, the inactive first digital lock, an identifier of the first digital asset, an identifier of the receiving participant, parameters associated with the transfer of the first digital asset, and code segments, wherein the code segments are executable to activate the first digital lock, transfer the first digital asset, and deactivate the first digital lock;
receiving a second proposed digital lock including a second inactive digital lock for a transaction of the transfer of a second digital asset from a sending participant to the first participant, wherein the second digital lock, when activated, can prevent the transfer of the second digital asset from the sending participant to another participant that is not the first participant, wherein the proposed second digital lock comprises a cryptographic signature of the sending participant, the inactive second digital lock, an identifier of the second digital asset, an identifier of the first participant, parameters associated with the transfer of the second digital asset, and code segments, wherein the code segments are executable to activate the second digital lock, transfer the second digital asset, and deactivate the second digital lock;
authenticating the received proposed second digital lock using the cryptographic signature of the sending participant, wherein the authenticating further comprises verifying that the received proposed second digital lock includes the inactive second digital lock;
receiving an acceptance of the proposed first digital lock, wherein the acceptance indicates activation of the proposed first digital lock;
upon receiving the acceptance of the proposed first digital lock, activating the proposed second digital lock;
receiving, from a computer node of the sending participant, the second digital asset;
upon receiving the second digital asset, deactivating the activated second digital lock; and
in connection with the deactivating the activated second digital lock, transferring the second digital asset to the receiving participant.