Patent ID: 8606673

Claim:
A method for escrowing digital data, comprising: receiving escrow parameters at a secure vault, the escrow parameters including at least one condition for releasing the digital data; creating an escrow contract, the escrow contract based upon specified escrow parameters of the escrow parameters; creating a handle that identifies the digital data using a processor; storing the digital data in a storage device of the secure vault; storing a mapping between the handle that identifies the digital data and a location of the digital data in the secure vault; retrieving the digital data from the secure vault using the mapping between the handle that identifies the digital data and the location of the digital data in the secure vault when the digital data can be released; and releasing the digital data to a recipient after retrieving the digital data based on the escrow parameters; and wherein the at least one condition comprises receipt of a required payment and the escrow parameters include an escrow recipient including: receiving an instruction from a payor to execute a payment sum; determining whether the payment sum satisfies the required payment; and instructing a financial institution to debit an account of the payor and credit an account of a payment target, wherein the digital data is retrieved and released from the secure vault to the escrow recipient after the account of the payment target is credited.