Rapid approval of blockchain-based transactions

A non-transitory computer readable storage medium storing instruction that, when executed by at least one processor, cause the at least one processor to perform operations comprising:

• receiving, at a cloud transaction manager and from a first entity, a transaction request payload message comprising a desired transaction amount, a transaction identifier, a first entity identifier, and a transaction type;
• receiving, at the cloud transaction manager and from a client digital wallet, a request for approval of a transaction comprising the transaction identifier and a public key of a digital asset stored within the client digital wallet;
• identifying, by the cloud transaction manager, a pending transaction amount associated with the digital asset;
• determining, by the cloud transaction manager, an available balance of the digital asset;
• in response to determining that the available balance is at least equal to the desired transaction amount, sending, by the cloud transaction manager, a request to the client digital wallet to initiate persistence of the transaction to a blockchain;
• and
• in response to receiving a message from the client digital wallet indicating persistence of the transaction to the blockchain has been initiated:
• approving the transaction;
• sending, after approval of the transaction and prior to the approved transaction being written to the blockchain, a transaction approval message to the first entity;
• updating a pending transaction queue associated with the digital asset with the approved transaction;
• performing a verification, by the cloud transaction manager, that the approved transaction is written to the blockchain;
• and
• in response to verifying that the approved transaction is written to the blockchain, removing the approved transaction from the pending transaction queue associated with the digital asset.

A system for approving transactions comprising:

• one or more processors;
• one or more tangible, non-transitory media operably connectable to the one or more processors and storing instructions that, when executed, cause the one or more processors to perform operations comprising:
• receiving, at a cloud transaction manager and from a first entity, a transaction request payload message comprising a desired transaction amount, a transaction identifier, a first entity identifier, and a transaction type;
• receiving, at the cloud transaction manager and from a client digital wallet, a request for approval of a transaction comprising the transaction identifier and a public key of a digital asset stored within the client digital wallet;
• identifying, by the cloud transaction manager, a pending transaction amount associated with the digital asset;
• determining, by the cloud transaction manager, an available balance of the digital asset;
• in response to determining that the available balance is at least equal to the desired transaction amount, sending, by the cloud transaction manager, a request to the client digital wallet to initiate persistence of the transaction to a blockchain;
• and
• in response to receiving a message from the client digital wallet indicating persistence of the transaction to the blockchain has been initiated:
• approving the transaction;
• sending, after approval of the transaction and prior to the approved transaction being written to the blockchain, a transaction approval message to the first entity;
• updating a pending transaction queue associated with the digital asset with the approved transaction;
• performing a verification, by the cloud transaction manager, that the approved transaction is written to the blockchain;
• and
• in response to verifying that the approved transaction is written to the blockchain, removing the approved transaction from the pending transaction queue associated with the digital asset.