Secure element method for distributed electronic ledger

Patent metadata

Field	Value
Publication number	US-11282137-B2
Application number	US-201615287815-A
Country	US
Kind code	B2
Filing date	Oct 7, 2016
Priority date	Oct 7, 2016
Publication date	Mar 22, 2022
Grant date	Mar 22, 2022

Abstract

A device has a secure element including a memory that stores at least one address, a set of rules, and a state of an asset. A processor is configured for receiving a request to change the state of the asset associated with the address, validating the request in the case where changing the state of the asset according to the request complies with the set of rules, and invalidating the request in the case where changing the state of the asset according to the request violates the set of rules. A communications module is coupled to the secure element for transmitting information responsive to the request to a distributed network of peer processors for recording a change in the state of the asset in a distributed electronic ledger in the case where the secure element validates the request.

First claim

What is claimed is:

1. A device comprising a secure element, the secure element including:
a memory that stores instructions; and
a processor coupled to the memory and configured to execute the instructions to:
receive, from an additional device, a request to change a state of a digital currency account tracked within a distributed electronic ledger, the requested change being associated with a transaction initiated between the device and the additional device and involving the digital currency account;
access rules data and a first hash value maintained within one or more ledger blocks of the distributed electronic ledger, the rules data identifying one or more rules associated with the tracked digital currency account, and the first hash value being representative of a first version identifier of a first version of the one or more rules;
obtain a second hash value from the received request, the second hash value being representative of a second version identifier of a second version of the one or more rules, the second version of the one or more rules being associated with the additional device;
determine, based on the received request and the accessed rules data, that the requested change complies with the one or more rules, and determine that the first hash value corresponds to the second hash value;
based on the determination that the first hash value corresponds to the second hash value, establish a consistency between the first and second versions of the one or more rules;
validate the received request based on the established consistency between the first and second versions of the one or more rules, and based on the determination that the change complies with the one or more rules;
authorize the initiated transaction in response to the validation of the request, and generate and transmit confirmation data indicative of the authorization of the initiated transaction to the additional device, the confirmation data comprising the first hash value, and the additional device being configured to validate the confirmation data based on the first hash value and to execute the initiated transaction based on the validation of the confirmation data; and
based on the authorization of the initiated transaction and the transmission of the confirmation data to the additional device, transmit a portion of the request to one or more peer computing systems, the one or more peer computing systems being configured to record the change in the state of the asset in one or more additional ledger blocks of the distributed electronic ledger.

2. The device of claim 1 , wherein:
the distributed electronic ledger comprises a block chain ledger that tracks the digital currency account;
the one or more rules identifies at least one condition associated with the digital currency account;
the processor is further configured to execute the instructions to:
determine, based on the request, that an attribute of the digital currency account satisfies the at least one condition; and
validate the received request based on the determination that the attribute satisfies the at least one condition.

3. The device of claim 2 , wherein:
the attribute includes an initial balance of the digital currency account; and
the at least one condition specifies that the initial balance is equivalent to at least an amount specified in the request.

4. The device of claim 1 , wherein:
the distributed electronic ledger comprises a block chain ledger that tracks the digital currency account; and
the processor is further configured to execute the instructions to:
load, from the memory, transaction data identifying one or more transactions involving the digital currency account;
based on the transaction data, determine that each of the one or more transactions complies with the one or more rules; and
validate the request based on the determination that each of the one or more transactions complies with the one or more rules.

5. The device of claim 4 , wherein:
the transaction data identifies a transaction amount for each of the one or more transactions; and
the processor is further configured to execute the instructions to:
determine an adjusted balance of the digital currency account that reflects the transaction amount of each of the one or more transactions; and
validate the request the adjusted balance of the digital currency account is equivalent to at least an amount specified in the request.

6. The device of claim 1 , wherein:
the memory stores the first version identifier; and
the processor is further configured to execute the instructions to compute the first hash value based on an application of a hash function to the first version identifier, and transmit the first version identifier and the first hash value to the one or more peer computing systems, the one or more peer computing systems being configured to record the first version identifier and the first hash value within the one or more additional ledger blocks.

7. The device of claim 6 , wherein the processor is further configured to execute the instructions to:
obtain the one or more ledger blocks of the distributed electronic ledger from the memory; and
obtain the first version identifier from the one or more ledger blocks.

8. The device of claim 1 , wherein:
the confirmation data further comprises the first version identifier; and
the additional device is further configured to:
obtain a third version identifier of the second version of the one or more rules;
determine that a third hash value representative of the third version identifier corresponds to the first hash value, and validate the confirmation data based on the determination that the third hash value corresponds to the first hash value; and

execute the initiated transaction based on the validation of the confirmation data.

9. The device of claim 8 , wherein the additional device is further configured to generate and transmit information characterizing the executed transaction to the one or more peer systems, the one or more peer systems being configured to record the information within the one or more additional ledger blocks.

10. The device of claim 1 , wherein:
the request comprises the second hash value and the second version identifier; and
the processor is further configured to execute the instructions to:
obtain at least the second hash value from the received request;
determine that the second hash value fails to correspond to the first hash value, and based on the determination that the second hash value fails to correspond to the first hash value, establish an inconsistency between the first and second versions of the one or more rules; and
based on the established inconsistency between first and second versions of the one or more rules, generate and transmit a failure message to the additional device, the failure message being indicative of a failure to validate the received request.

11. The device of claim 1 , wherein the processor is further configured to execute the instructions to:
determine, based on the received request and the accessed rules data, that the requested change fails to comply with the one or more rules; and
based on the determination that the requested change fails to comply with the one or more rules, transmit a failure message to the additional device, the failure message being indicative of a failure to validate the received request.

12. The device of claim 1 , wherein the received request comprises a wallet address of the digital currency account.

13. The device of claim 10 , wherein the processor is further configured to execute the instructions to obtain, from the one or more l

Assignees

• Toronto Dominion Bank

Inventors

• Mcdonald Ian James
• Mcphee Adam Douglas
• Haldenby Perry Aaron Jones
• Chan Paul Mon-Wah
• Lee John Jong Suk

Classifications

• G06Q20/204

  comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit · CPC title

• G06Q2220/00

  Business processing using cryptography · CPC title

• G06Q20/065

  using e-cash · CPC title

• G06Q20/405

  Establishing or using transaction specific rules · CPC title

• G06Q40/04 Primary

  Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange · CPC title