System, method, and computer program product for a distributed cryptographically secured proof-of-intent transaction network

A system for authorizing transactions in a blockchain network comprising a plurality of participant systems, wherein a first system of the plurality of participant systems sends transaction data to a second system of the plurality of participant systems, and wherein the second system generates a notary request comprising the transaction data, the system comprising a notary system including at least one processor programmed or configured to:

• accept a notary request from a second system of a plurality of account holder systems, the notary request comprising transaction data received from a first system of a plurality of account holder systems;
• transmit at least a portion of the transaction data to a plurality of witness systems, the plurality of witness systems comprising at least a subset of the plurality of participant systems;
• determine a subset of responsive witness systems from the plurality of witness systems;
• determine that a required number of affirmative responses is received, wherein each affirmative response confirms that at least a portion of the transaction data sent to the subset of responsive witness systems was approved by the first system of the plurality of participant systems;
• generate at least one block at least partially based on the transaction data, in response to determining that the required number of responses from each of the subset of responsive witness systems is received;
• and
• publish the at least one block to the blockchain network.

A computer program product for authorizing transactions in a blockchain network comprising a plurality of participant systems, wherein a first system of the plurality of participant systems sends transaction data to a second system of the plurality of participant systems, and wherein the second system generates a notary request comprising the transaction data, comprising at least one non-transitory computer-readable medium including program instructions that, when executed by at least one processor of a notary system, cause the at least one processor to:

• accept a notary request from a second system of a plurality of account holder systems, the notary request comprising transaction data received from a first system of a plurality of account holder systems;
• transmit at least a portion of the transaction data to a plurality of witness systems, the plurality of witness systems comprising at least a subset of the plurality of participant systems;
• determine a subset of responsive witness systems from the plurality of witness systems;
• determine that a required number of affirmative responses is received, wherein each affirmative response confirms that at least a portion of the transaction data sent to the subset of responsive witness systems was approved by the first system of the plurality of participant systems;
• generate, by the at least one processor, at least one block at least partially based on the transaction data, in response to determining that the required number of responses from each of the subset of responsive witness systems is received;
• and
• publish the at least one block to the blockchain network.