System and method for transferring data representing transactions between computing nodes of a computer network

A system for transferring data representing one or more blockchain-based transactions between computing nodes of a computer network, the system comprising a non-transitory memory device, wherein modules of instruction code are stored, and a processor associated with the memory device, and configured to execute the modules of instruction code, whereupon execution of said modules of instruction code, the processor is further configured to:

• receive data representing a transaction request, for transferring ownership of at least one product from a current owner to a subsequent owner, the transaction request comprising a public key of the subsequent owner and being signed by a private encryption key of the current owner;
• authenticate the signature of the current owner, according to a public key of the current owner;
• access at least one product chain respectively associated with the at least one product;
• extract from the at least one product chain at least one respective list of target user entities and at least one corresponding contract data element, wherein one or more of the target user entities are non-owner users;
• produce at least one ownership block, comprising an identification of the subsequent owner, wherein the at least one ownership block comprises a type of the owner and an identification of one or more of the non-owner users;
• append the at least one ownership block to the respective at least one product chain, to indicate transfer of ownership from the current owner to the subsequent owner;
• transfer data representing one or more transactions between the intermediary node and one or more computing nodes associated with one or more target user entities of the at least one list of target user entities and the subsequent owner, based on the transaction request;
• enable a subsequent owner to confirm the transfer, by:
• sending one or more data elements of the transaction request to the computing node of the subsequent owner;
• receiving a confirmation indication from the computing node of the subsequent owner;
• subsequently append the at least one ownership block and the performance of the one or more transactions including target user entities and at least one corresponding contract data element to the respective at least one product chain, based on the analysis of the confirmation indication.

A non-transitory computer readable storage medium storing a set of instructions for causing a computer to transfer data representing one or more blockchain based transactions between computing nodes of a computer network, by performing the operations of:

• receiving data representing a transaction request, for transferring ownership of at least one product from a current owner to a subsequent owner, the transaction request comprising a public key of the subsequent owner and being signed by a private encryption key of the current owner;
• authenticating the signature of the current owner, according to a public key of the current owner;
• accessing at least one product chain respectively associated with the at least one product;
• extracting from the at least one product chain at least one respective list of target user entities and at least one corresponding contract data element, wherein one or more of the target user entities are non-owner users;
• producing at least one ownership block, comprising an identification of the subsequent owner, and appending the at least one ownership block to the respective at least one product chain, to indicate transfer of ownership from the current owner to the subsequent owner, wherein the at least one ownership block comprises a type of the owner and an identification of one or more of the non-owner users;
• and
• transferring data representing one or more transactions between the intermediary node and one or more computing nodes associated with one or more target user entities of the at least one list of target user entities and the subsequent owner, based on the transaction request;
• enabling a subsequent owner to confirm the transfer, by:
• sending one or more data elements of the transaction request to the computing node of the subsequent owner;
• receiving a confirmation indication from the computing node of the subsequent owner;
• and
• subsequently appending the at least one ownership block and the performance of the one or more transactions including target user entities and at least one corresponding contract data element to the respective at least one product chain, based on the analysis of the confirmation indication.