Authenticate transactions of secured file in blockchain

An automated system for authenticating file transactions in a tri-party setup, wherein the system is configured to:

• store a hash corresponding to a transaction in a distributed ledger;
• generate an unencrypted intent and encrypted intent of a first client device, and to communicate the encrypted intent and a file identifier to a server arrangement so as to raise a request for accessing a secured file, wherein the request for accessing the secured file is time bound, and wherein the encrypted intent is generated by encrypting the unencrypted intent with a first client key, further wherein the first client key is dynamically generated at the first client device;
• wherein the tri-party set up comprises the first client device, a second client device, and the server arrangement all communicating together to authenticate and perform the file transactions,
• generate an unencrypted consent and an encrypted consent of the server arrangement, wherein the encrypted consent is generated by encrypting the unencrypted consent with a server key, wherein the encrypted intent and the unencrypted consent are stored at the server arrangement, wherein the encrypted consent of the sever arrangement is time bound;
• communicate the encrypted consent to the first client device along with a location of the second client device;
• communicate the encrypted consent, the unencrypted intent and the first client key from the first client device to the second client device based on the received location of the second client device;
• communicate the encrypted consent from the second client device to the server arrangement;
• validate the encrypted consent at the server arrangement by comparing the encrypted consent received from the second client device with at least two newly generated encrypted consents at the server arrangement, wherein the at least two newly encrypted consents are generated by encrypting the unencrypted consent with the server key, wherein the at least two newly encrypted consents include a current timestamp and a predefined prior timestamp;
• generate at least two new encrypted intents, based on the validation of the encrypted consent, at the second client device, wherein the at least two new encrypted intents are generated by encrypting the unencrypted intent with the first client key, wherein the at least two new encrypted intents include current timestamp and a predefined prior timestamp;
• and
• validate the encrypted intent stored at the server arrangement by comparing the encrypted intent with the at least two newly generated encrypted intents received from the second client device,
• wherein the second client device receives a confirmation of the validation of the encrypted intent to authenticate the server arrangement.