Methods and systems for creating and controlling use of transaction keys

A method for controlling creation of a subsequent transaction that can be carried out between a first user utilizing a first user device and a second user using a second user device and use of transaction keys to implement safeguards on the subsequent transaction between a first user utilizing a first user device and a second user using a second user device so as to control how and when a transaction will occur comprising:

• initiating by the first user device through a public network a first creation process operating on a first computer system, which first computer system interfaces to a data store on a private network associated with a server computer system residing on the private network, wherein the first creation process defines the terms of the subsequent transaction as defined by the first user device for completion by the second user on the second user device independent of the first user device and the first computer system;
• identifying by the first user device in a transaction key generation process operating on the first computer system an authorization code, which authorization code is uniquely associated with the first user device and which authorization code implements safeguards on access to the subsequent transaction by the second user using the second user device, the authorization code uniquely associated with both the first user device and the subsequent transaction between the first user device and the second user;
• identifying by the first user device with the transaction key generation process on the first computer system a set of one or more parameters associated with the subsequent transaction, the authorization code and the set of one or more parameters required in order for the second user device to be authorized for participation of the second user device in the subsequent transaction for execution thereof, wherein the authorization code and the one or more parameters comprising the transaction key;
• transmitting the identified authorization code and the set of one or more parameters from the first computer system to the data store associated with the server computer system on the private network for storage thereat in a stored authorization record in association with the subsequent transaction in addition to the defined terms for the subsequent transaction, which such step of storing defines the transaction as an authorized transaction at the server system and wherein the transaction operates on a third computer system that resides on the server system on the private network and is not accessible by the first computer system;
• wherein:
• the set of one or more parameters identified by the first creation process corresponds to inputs entered at the first user device by the first user, and
• the set of one or more parameters identified by the first user device with the transaction key generation process at least partially define the first user device defined requirements that must be satisfied by the second user device including attributes that are required to be input by the second user device in order to authorize participation by the second user device in an execution of the subsequent transaction on the third computer system,
• whereby participation by the second user device in execution of the subsequent transaction on the third computer system is facilitated with a second computer system that interfaces with the second user device through the public network and with both the data store and the third computer system on the server computer system, and which second computer system is independent of and isolated from the first computer system, wherein participation is dependent on both receipt by the second computer system of the authorization code and attributes from the second user device and satisfaction of the set of one or more parameters by the second user device;
• sharing the authorization code with the second user device from the first user device outside of the transaction and independent of the first and second computer systems;
• wherein the second user device in order to facilitate participation of the second user device in execution of the subsequent transaction by the second computer system on the third computer system is operable to generate and transfer to the second computer system as a transaction request the authorization code and attributes existing at the second user device corresponding to the set of one or more parameters;
• upon receiving by the second computer system the transaction request from the second user device including the authorization code and the provided attributes associated with the second user device, triggering the second computer system to determine whether to authorize participation of the second user device in the execution of the subsequent transaction on the third computer system by comparing the transferred authorization code and the provided attributes from the second user device with the stored authorization code in the data store and the stored set of one or more parameters in the stored authorization record in the data store;
• and
• upon determining by the second computer system that the transferred authorization code and provided attributes from the second user device satisfy the stored set of one or more parameters and stored authorization code stored in the data store, generating an authorization for participation by the second user device in the execution of the subsequent transaction on the third computer system independent of the operation of the first computer system and isolated from the first user device, or, upon determining that the attributes of the second user device and transferred authorization code do not satisfy the set of one or more parameters stored in the data store, refraining from generating the authorization for participation by the second user device in execution of the subsequent transaction on the third computer system,
• wherein, upon generating an authorization for participation by the second user device in execution of the subsequent transaction on the third computer system, the second user device participates in execution of the subsequent transaction operating on the third computer system in accordance with the defined terms, the subsequent transaction controlled by the operation of the third computer system in accordance with the defined terms as stored in the authorization record by the first computer system.