Patent SG-11201811005X-A (SG)
Title: Blockchain implemented method and system
Inventor: SAVANAH STEPHANE
IPC: H04L9/32
Filed: 2017-07-24
Abstract: INTERNATIONAL APPLICATION PUBLISHED UNDER THE PATENT COOPERATION TREATY (PCT) (19) World Intellectual Property -., Organization 1111111111111 0 1101010 11111111110 11111111111111111111111111101110 1110 1111 0111111 International Bureau (10) International Publication Number (43) International Publication Date .....'\"' WO 2018/020389 A3 01 February 2018 (01.02.2018) WIP0 I PCT (51) International Patent Classification: (81) Designated States (unless otherwise indicated, for every H04L 9/06 (2006.01) HO4L 9/32 (2006.01) kind of national protection available): AE, AG, AL, AM, (21) International Application Number: AO, AT, AU, AZ, BA, BB, BG, BH, BN, BR, BW, BY, BZ, PCT/IB2017/054462 CA, CH, CL, CN, CO, CR, CU, CZ, DE, DJ, DK, DM, DO, DZ, EC, EE, EG, ES, FI, GB, GD, GE, GH, GM, GT, HN, (22) International Filing Date: HR, HU, ID, IL, IN, IR, IS, JO, JP, KE, KG, KH, KN, KP, 24 July 2017 (24.07.2017) KR, KW, KZ, LA, LC, LK, LR, LS, LU, LY, MA, MD, ME, MG, MK, MN, MW, MX, MY, MZ, NA, NG, NI, NO, NZ, (25) Filing Language: English OM, PA, PE, PG, PH, PL, PT, QA, RO, RS, RU, RW, SA, (26) Publication Language: English SC, SD, SE, SG, SK, SL, SM, ST, SV, SY, TH, TJ, TM, TN, (30) Priority Data: TR, TT, TZ, UA, UG, US, UZ, VC, VN, ZA, ZM, ZW. 1613109.6 29 July 2016 (29.07.2016) GB (84) Designated States (unless otherwise indicated, for every kind of regional protection available): ARIPO (BW, GH, (71) Applicant: nCHAIN HOLDINGS LIMITED [AG/AG]; GM, KE, LR, LS, MW, MZ, NA, RW, SD, SL, ST, SZ, TZ, Fitzgerald House, 44 Church Street, St. John's (AG). UG, ZM, ZW), Eurasian (AM, AZ, BY, KG, KZ, RU, TJ, (72) Inventors: SAVANAH, Stephane; c/o Urquhart-Dykes TM), European (AL, AT, BE, BG, CH, CY, CZ, DE, DK, & Lord LLP, 7th Floor Churchill House, Churchill Way, EE, ES, FI, FR, GB, GR, HR, HU, IE, IS, IT, LT, LU, LV, Cardiff CF10 2HH (GB). WRIGHT, Craig Steven; c/o MC, MK, MT, NL, NO, PL, PT, RO, RS, SE, SI, SK, SM, Urquhart-Dykes & Lord LLP, 7th Floor Churchill House, TR), OAPI (BF, BJ, CF, CG, CI, CM, GA, GN, GQ, GW, _ Churchill Way, Cardiff CF10 2HH (GB). CHAN, Ying; c/ KM, ML, MR, NE, SN, TD, TG). o Urquhart-Dykes & Lord LLP, 7th Floor Churchill House, = = Churchill Way, Cardiff CF10 2HH (GB). = (74) Agent: JONES, Cerian; 7th Floor, Churchill House, Churchill Way, CARDIFF CF10 2HH (GB). = = = (54) Title: = = = — = — = ent Time o Fre q uency BLOCKCHAIN IMPLEMENTED METHOD AND SYSTEM Cu r t W 1.Msdant creates C number ofcordoncts fan scovicesrasselsretc which define detain such as Deposit Size, Payment Amount, and Payment to name a lew 2. Merchant mints a token ford 0 contacts (see Colonmd coins for me sc1phs in1d6e1) (57) : The invention relates to computer-based, electronic Sochchain ledgers, and in particular distributed ledgers known as \"blockchains\". The invention is suited for use with the Bitcoin blockchain and asso- ciated protocol, but is not limited in this regard and can be deployed S101 using other blockchain platforms. The invention provides a novel and advantageous technique for executing a micropayment channel in — Mintin g Tx which the number of transactions (TXs) that need to be submitted to = 11,4 f Ws ty Medea 3 Merchant submits — Ounoul 1 - pay s parr of the fimds b a scrigtoken represeMrn g contract intin g Tx lo blood& the blockchain can be greatly reduced. An initial transaction (Tx) can S103 _) be replaced by one or more subsequent transactions which another = = ouim C - pays par 1 cl the funds fa a scrigtoken representn g contract C --__ S102 party can hold onto until a selected transaction is completed (signed) = I. anode kiss as on lie blocke saiA, and the onialdetails an a ai , Merchant *fishes nie tokens' lattorm accessibie by be Customer and submitted to the network. In one embodiment, the invention pro- for = - = S10:- 5.05116Mer browsin g the contracts sees= it wants b enkr. Customer creates Fundin g Tx *Ile blershanns token script and a deposit hy Customer Note that a Merchant can do sk i ls 1.4 at any nine and add the new tokens lo ix kt S105 vides a computer-implemented method performing an exchange via a blockchain, comprising the step of submitting a funding trans- action to the blockchain network, wherein the funding transaction i) Fondin To g 7 comprises a tokenised contract relating to an asset to be transferred I Input 1. deposit b y Customer from to first ii) is by the first a second user a user; and signed user. Input 2. token by Merchant en Output I - pays Xarnconr1 Cap *De 5 peif try, .ti,s: 7 Customer & Uerchant Si g : a 2 Customer 54 ger Time N 6.0 stoner si g ns Fundin g Tx Itlxidaposn in In ut I) and sends to Merchant _,.‹ S106 It also comprises the step of sending, from the first user to the sec- and user, one or more subsequent transactions wherein each said sub- C:r GC Output 2 - pays Y amouct1Can o* be spentif the redeem script contahm I. Customer & MerchaPI Si g : or 2. Merchant Si g att Time N 7. Merchant si g ns Fundin g Tx 1heir token I blockchain sequent transaction spends an output of the funding transaction and Input 2) and submits to is signed by the first user. It includes the step of submitting one of the subsequent transactions to the blockchain network, the submitted V') © N © GC 1-1 0 ei , x Y= deposit, token value Xcao be the entire deposit by Use Cstomer (i.e. Customer is refunded noncle deposit aft if no er lime N Vices place). Other schemes are possible suPY as bi t ol g a *Mum be *hen enlefir g oft! etc. S107 Fig. 2 transaction having been signed by the second user. o [Continued on next page] WO 2018/020389 A3 MIDEDIMOMOIDIDIROHOINNI 010 OMEHOINEMIE Published: — with international search report (Art. 21(3)) — before the expiration of the time limit for amending the claims and to be republished in the event of receipt of amendments (Rule 48.2(h)) (88) Date of publication of the international search report: 08 March 2018 (08.03.2018)