Chenxin Yan

Title: Chenxin Yan and Verifiable, Decentralized Digital Currency

Introduction

Chenxin Yan is an inventor based in Beijing, China, whose work includes a patent for a verifiable, decentralized central bank digital currency system. The invention applies zero-knowledge proofs and blockchain technology to help verify commercial banks’ transaction processing while protecting transaction details.

Latest Patents

Yan is associated with 1 patent: “Verifiable, Decentralized Zero-Knowledge Central Bank Digital Currency.” The proposed system has commercial banks generate zero-knowledge proofs for one or more transactions, along with a hash representing their total amount. The proof and hash are submitted to a blockchain, which stores each bank’s state commitment and uses a smart contract to verify proofs. After successful verification, the system updates the bank’s state commitment and adds the transaction hash to the verifier’s state.

Career Highlights

Yan’s listed patent is associated with Microsoft Technology Licensing, LLC. It addresses the challenge of verifying transaction processing in a central bank digital currency system without requiring the underlying transaction details to be disclosed.

Collaborations

Srinath Setty is listed as Yan’s coworker. The available information does not specify further details about their collaboration or their respective contributions to the patent.

Conclusion

Chenxin Yan’s patent describes a blockchain-based approach to verifiable digital currency transactions, combining zero-knowledge proofs, bank state commitments, and smart-contract verification.