Patent SG-11201901553R-A (SG)
Title: Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain
Inventor: HIGGINS STEPHEN
IPC: G06Q20/06
Filed: 2017-10-11
Abstract: 06 100 Processing Server Consumers Merchants 114 102-- Issuing Institution Acquiring Institution 112 110 108 O cc O cc O O (12) INTERNATIONAL APPLICATION PUBLISHED UNDER THE PATENT COOPERATION TREATY (PCT) (19) World Intellectual Property Organization International Bureau (43) International Publication Date 11 May 2018 (11.05.2018) WIPO I PCT omit VIII °nolo III m H 100 0111 OH oimIE (10) International Publication Number WO 2018/085011 Al (51) International Patent Classification: G06Q 20/02 (2012.01) G06Q 20/06 (2012.01) (21) International Application Number: PCT/US2017/056008 (22) International Filing Date: 11 October 2017 (11.10.2017) (25) Filing Language: English (26) Publication Language: English (30) Priority Data: 15/342,463 03 November 2016 (03.11.2016) US (71) Applicant: MASTERCARD INTERNATIONAL IN- CORPORATED [US/US]; 2000 Purchase Street, Pur- chase, NY 10577 (US). (72) Inventor: HIGGINS, Stephen; Pouladown, Water- grasshill, Cork (IE). (74) Agent: DOBBYN, Colm, J.; Mastercard International In- corporated, 2000 Purchase Street, Purchase, NY 10577 (US). (81) Designated States (unless otherwise indicated, for every kind of national protection available): AE, AG, AL, AM, AO, AT, AU, AZ, BA, BB, BG, BH, BN, BR, BW, BY, BZ, 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, HR, HU, ID, IL, IN, IR, IS, JO, JP, KE, KG, KH, KN, KP, 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, OM, PA, PE, PG, PH, PL, PT, QA, RO, RS, RU, RW, SA, SC, SD, SE, SG, SK, SL, SM, ST, SV, SY, TH, TJ, TM, TN, TR, TT, TZ, UA, UG, US, UZ, VC, VN, ZA, ZM, ZW. (54) Title: METHOD AND SYSTEM FOR NET SETTLEMENT BY USE OF CRYPTOGRAPHIC PROMISSORY NOTES ISSUED ON A BLOCKCHAIN FIG. (57) : A method for generating a cryptographic promissory note for posting to a blockchain includes: receiving an authorization request for a payment transaction, the authorization request being a transaction message formatted based on one or more standards that includes a plurality of data elements including a first data element configured to store a blockchain address and a second data element configured to store a transaction amount; generating a promissory note including the transaction amount; digitally signing the generated promissory note with a private key; encrypting the signed promissory note with a symmetric key; wrapping the symmetric key with a public key corresponding to the private key and a public key associated with an acquirer involved in the payment transaction; and electronically transmitting a blockchain transaction to a blockchain network that includes the encrypted promissory note, each symmetric key, and the blockchain address. [Continued on next page] WO 2018/085011 Al O II (84) Designated States (unless otherwise indicated, for every kind of regional protection available): ARIPO (BW, GH, GM, KE, LR, LS, MW, MZ, NA, RW, SD, SL, ST, SZ, TZ, UG, ZM, ZW), Eurasian (AM, AZ, BY, KG, KZ, RU, TJ, TM), European (AL, AT, BE, BG, CH, CY, CZ, DE, DK, EE, ES, FI, FR, GB, GR, HR, HU, IE, IS, IT, LT, LU, LV, MC, MK, MT, NL, NO, PL, PT, RO, RS, SE, SI, SK, SM, TR), OAPI (BF, BJ, CF, CG, CI, CM, GA, GN, GQ, GW, KM, ML, MR, NE, SN, TD, TG). Published: — with international search report (Art. 21(3))