System and method for managing transactions in dynamic digital documents
AssigneeR3 Ltd.
InventorsRichard Gendal Brown, Michael Christopher Heam, James William George Carlyle
Life of this patent
Estimating the term…
Abstract
System and methods for managing dynamic electronic documents on a private distributed ledger comprise establishing a dynamic electronic document comprising a first state object, wherein the state object references a prior approved first transaction; proposing a second transaction comprising as an input the first state object and as an output a transaction command to alter the state object as well as what parameters are required to validate the second transaction; validating the proposed second transaction; and updating the state object on a private distributed ledger to reference the second transaction.
Claims32
A method performed by a first computing system of a first node of a first entity for conducting a transaction relating to a state object, the first node being a node of a distributed ledger that is not a blockchain, the method comprising:
- accessing the state object having state, and having identifications of the first entity and a second entity, the first entity and the second entity having permission to access the state object, the state object being electronically signed by the first entity;
- accessing a proposed transaction to change the state object, the proposed transaction identifying an output state for the state object and identifies an input state for the state object, the proposed transaction being electronically signed by an entity that proposed the transaction;
- receiving a verified transaction that has been verified by a verification service, the verification service verifying by ensuring that the input state is not in a register of consumed input states maintained by the verification service and electronically signing the proposed transaction to generate a verified transaction;
- and
- storing the verified transaction as part of the distributed ledger to record the change to the state object.
One or more computing systems of a first node of a first entity for conducting a transaction relating to a state object, the first node being a node of a distributed ledger that is not a blockchain, the one or more computing system comprising
- one or more computer-readable storage mediums for storing
- the state object having state, and having identifications of the first entity and a second entity, the first entity and the second entity having permission to access the state object, the state object being electronically signed by the first entity;
- a proposed transaction to change the state object, the proposed transaction identifying an output state for the state object and identifies an input state for the state object, the proposed transaction being electronically signed by an entity that proposed the transaction;
- and
- computer-executable instructions for controlling the one or more computing systems to:
- receive a verified transaction that has been verified by a verification service, the verification service verifying by ensuring that the input state is not in a register of consumed input states maintained by the verification service and electronically signing the proposed transaction to generate a verified transaction;
- and
- store the verified transaction as part of the distributed ledger to record the change to the state object;
- and
- one or more processors for executing the computer-executable instructions stored in the one or more computer-readable storage mediums.
Dependencies are inferred from the claim text.