The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 16, 2024
Filed:
Nov. 03, 2016
Method and system for net settlement by use of cryptographic promissory notes issued on a blockchain
Mastercard International Incorporated, Purchase, NY (US);
Stephen Higgins, Cork, IE;
MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US);
Abstract
A method for generating a cryptographic promissory note for posting to a blockchain includes: receiving an authorization request for a payment transaction, the authorization request being a transaction message formatted based on one or more standards that includes a plurality of data elements including a first data element configured to store a blockchain address and a second data element configured to store a transaction amount; generating a promissory note including the transaction amount; digitally signing the generated promissory note with a private key; encrypting the signed promissory note with a symmetric key; wrapping the symmetric key with a public key corresponding to the private key and a public key associated with an acquirer involved in the payment transaction; and electronically transmitting a blockchain transaction to a blockchain network that includes the encrypted promissory note, each symmetric key, and the blockchain address.