US 11,694,196 B2 · Method and system for directing an exchange associated with an anonymously held token on a blockchain

Abstract

The invention provides a method and corresponding system for controlling the generation of a blockchain transaction, and/or the recipient of a transaction output. It can also be used to control and record the ownership of an asset represented on the blockchain without the need for a separate registry of ownership. The ownership and transfers thereof can be handled and recorded without the need for knowledge of the parties involved or their identities. According to one embodiment, the method comprises the steps of identifying at least one transaction (Tx) on a blockchain which comprises: an unspent transaction output (UTXO) relating to a tokenised asset associated with an asset controller; and an input which spends an output from a previous transaction that is locked by a redeem script hash. For each identified transaction (Tx), an incomplete blockchain transaction is generated comprising: a first output comprising a copy of the redeem script hash; and a second output which is modifiable such that only the asset controller is able to specify a recipient for the second output. The incomplete blockchain transaction is communicated to the controller of the asset. The incomplete blockchain transaction is incomplete in that it is missing a required cryptographic signature. Thus, payment of income relating to the asset can be re-directed by the controller to a destination of their choice.

Claims17

Dependent claims

A method of controlling a transfer via a blockchain, the method performed by an autonomous computing agent and comprising:

identifying at least one transaction (Tx) on the blockchain, wherein the at least one transaction (Tx) comprises:
an unspent transaction output (UTXO) relating to a tokenised asset associated with an asset controller;
and
an input that spends an output of a previous transaction that is locked by a redeem script hash;
for each identified transaction (Tx), generating an incomplete blockchain transaction comprising:
a first output comprising a copy of the redeem script hash;
and
a second output that is modifiable, only by the asset controller, to specify a recipient for the second output, wherein the second output of the incomplete blockchain transaction, when spent, transfers an amount of value or currency to the recipient;
and
notifying the asset controller, at a notification address of the asset controller, of the incomplete blockchain transaction, wherein the notifying comprises sending a signal and/or an electronic notification to the notification address that is provided as metadata within an unlocking script of an input of a transaction (Tx1) on the blockchain, and wherein the signal and/or the electronic notification provides a prompt, a trigger, or an alert to the asset controller relating to the incomplete blockchain transaction.

7 more elements

Dependencies are inferred from the claim text.

Method and system for directing an exchange associated with an anonymously held token on a blockchain

Life of this patent

Method and system for directing an exchange associated with an anonymously held token on a blockchain

Life of this patent

Abstract

Claims17