Decentralized encryption and decryption of blockchain data

A computer-implemented method comprising:

• retrieving, by at least one node associated with a blockchain, a key record comprising an encryption algorithm and a set of nodes of the blockchain associated with a blockchain key comprising a plurality of key segments;
• identifying, by the at least one node, a subset of the set of nodes, each node within the subset of the set of nodes storing at least one key segment of the plurality of key segments that is encrypted using the encryption algorithm;
• retrieving, by the at least one node, the plurality of encrypted key segments from the subset of set of nodes;
• decrypting, by the at least one node, each encrypted key segment in accordance with the encryption algorithm, wherein the at least one node only decrypts encrypted key segments received via network nodes associated with a latest valid blockchain;
• and
• generating, by the at least one node, the blockchain key by appending the decrypted key segments.