Privacy-preserving decentralized payment instrument network

A system, comprising:

• at least one computing device associated with a first entity;
• at least one application executable by the at least one computing device, wherein, when executed, the at least one application causes the at least one computing device to at least:
• transmit a transaction authorization request to a second entity, the transaction authorization request being associated with a transaction between the first entity and the second entity;
• receive an authorization for the transaction from the second entity, the authorization including a transaction confirmation identifier;
• generate a transaction authorization memo comprising the transaction confirmation identifier, transaction data associated with the transaction, and a public key associated with the second entity;
• hash the transaction authorization memo;
• and
• cause the hashed transaction authorization memo to be written to a distributed ledger.

A method, comprising:

• receiving transaction authorization data from a first party of a transaction between the first party and a second party;
• validating the transaction authorization data;
• writing the transaction authorization data to a distributed ledger based at least in part on a consensus agreement;
• receiving a payment confirmation request to determine if payment confirmation data associated with the transaction is recorded in the distributed ledger;
• and
• determining whether the payment confirmation data is recorded in the distributed ledger.