Method and system for regulation of blockchain transactions

Patent metadata

Field	Value
Publication number	US-12229752-B2
Application number	US-202318130471-A
Country	US
Kind code	B2
Filing date	Apr 4, 2023
Priority date	Aug 28, 2020
Publication date	Feb 18, 2025
Grant date	Feb 18, 2025

Abstract

A method for assisting wallet providers in regulatory compliance for blockchain transactions includes: receiving, by a receiver of a processing server, a new blockchain transaction from a first computing device, the new blockchain including at least a destination address associated with a blockchain wallet as a recipient for the new blockchain transaction; generating, by a processor of the processing server, a reference identifier for the new blockchain transaction; identifying, by the processor of the processing server, a profile for the blockchain wallet based on the destination address; transmitting, by a transmitter of the processing server, the reference identifier to the first computing device; and transmitting, by the transmitter of the processing server, a notification message to a second computing device, the notification message including at least the reference identifier and data associated with the blockchain wallet.

First claim

What is claimed is:

1. A method for assisting wallet providers in regulatory compliance for anonymous blockchain transactions, comprising:
storing, by a processing server in a wallet database, one or more wallet profiles, each of the one or more wallet profiles associated with at least one blockchain wallet, wherein each of the wallet profiles comprises a public key of a cryptographic key pair associated with the respective at least one blockchain wallet, profile data, the profile data including compliance information;
receiving, by the processing server, blockchain transaction data from a first computing device of a first wallet provider, wherein the blockchain transaction data comprises a digital signature associated with a sender blockchain wallet, one or more unspent transaction outputs, and a destination address associated with a recipient blockchain wallet of a second wallet provider, wherein the processing server receives the blockchain transaction data prior to the first computing device generating a first blockchain data value based on the blockchain transaction data;
identifying, by the processing server, a recipient wallet profile associated with the recipient blockchain wallet by querying the one or more wallet profiles in the wallet database using the destination address associated with the recipient blockchain wallet;
generating, by the processing server, a reference identifier for the blockchain transaction data;
transmitting, by the processing server, the reference identifier and the profile data of the recipient wallet profile to the first computing device;
receiving, by the processing server, from the first computing device a transaction reference for a blockchain transaction after the first computing device generating the first blockchain data value based on the blockchain transaction, wherein the blockchain transaction comprises the blockchain transaction data and the reference identifier, wherein the receiving the transaction reference further comprises identifying the blockchain data value using the transaction reference, and identifying the recipient blockchain wallet associated with the destination address comprised in the blockchain data value;
transmitting, by the processing server to a second computing device of the second wallet provider, a notification message to request verification for the blockchain transaction, wherein the notification message comprises at least the transaction reference;
receiving, by the processing server from the second computing device, a message for the verification of the blockchain transaction in response to the notification message; and
providing, by the processing server, to a third computing device associated with a regulatory agency, a report about the blockchain transaction, wherein the report comprises the reference identifier, the profile data associated with the recipient blockchain wallet, and profile data associated with the sender blockchain wallet.

2. The method of claim 1 , wherein the recipient wallet profile of the recipient blockchain wallet further comprises at least one of: a public key and an identification number.

3. The method of claim 2 , wherein identifying the recipient wallet profile of the recipient blockchain wallet comprises using a portion of the public key or a portion of the identification number.

4. The method of claim 1 , wherein the compliance information includes one or more of: a name, an address, a geographic location, a business name, transactional history, and financial data.

5. The method of claim 1 , wherein the first computing device is a blockchain node in the blockchain network that manages a blockchain used for the blockchain transaction.

6. The method of claim 1 , wherein the recipient wallet profile associated with the recipient blockchain wallet comprises information of a user associated with the recipient blockchain wallet.

7. The method of claim 1 , wherein the compliance information of the one or more wallet profiles associated with the blockchain wallets comprises data regarding compliance with one or more regulatory requirements of the regulatory agency for the blockchain wallets.

8. The method of claim 1 , further comprising:
receiving, by the processing server, a verification message from the second computing device, wherein the verification message comprises updates of the recipient wallet profile of the recipient blockchain wallet.

9. The method of claim 1 , wherein the identifying the recipient wallet profile associated with the recipient blockchain wallet further comprises:
determining, by the processing server, that the recipient wallet profile is not in the wallet database by querying the wallet database using the destination address;
transmitting, by the processing server, a request to the second computing device for information of the recipient wallet profile including the profile data;
receiving, by the processing server via the receiver, a response from the second computing device, wherein the response comprises the information of the recipient wallet profile including the profile data; and
storing, by the processing server in the wallet database, the received information in the recipient wallet profile.

10. The method of claim 1 , further comprising:
receiving, by the processing server, a transaction reference associated with a new blockchain transaction;
executing, by the processing server, a query on a blockchain of the blockchain network for the new blockchain transaction corresponding to the transaction reference associated with a new blockchain transaction;
identifying, by the processing server, a second blockchain data value on the blockchain that includes the transaction reference, the second blockchain data value corresponding to the new blockchain transaction;
determining, by the processing server, that a destination address of the second blockchain data value matches the recipient blockchain wallet of the new blockchain transaction;
executing, by the processing server, a query on the wallet database for the recipient wallet profile associated with the recipient blockchain wallet;
identifying, by the processing server, the recipient wallet profile, wherein the recipient wallet profile comprises information of the second wallet provider;
transmitting, by the processing server, a verification request to the second computing device, the verification request including the transaction reference and a request for verification of the new blockchain transaction;
receiving, by the processing server, a verification message from the second computing device, wherein the verification message comprises updated recipient wallet profile data for the recipient blockchain wallet; and
updating, by the processing server, the recipient wallet profile in the wallet database with the updated wallet profile data for the recipient blockchain wallet.

11. A system for assisting wallet providers in regulatory compliance for anonymous blockchain transactions, comprising:
a processing server comprising a receiver, a transmitter and a memory storing a wallet database, wherein the processing server is configured to:
store, in the wallet database, one or more wallet profiles, each of the one or more wallet profiles associated with at least one blockchain wallet, wherein each of the one or more wallet profiles comprises a public key of a cryptographic key pairs associated with the respective at least one blockchain wallet, and profile data, the profile data including compliance information;
receive, via the receiver, blockchain transaction data from a first computing device of a first wallet provider, wherein the blockchain transaction data comprises a digital signature associate

Assignees

• Mastercard International Inc

Inventors

• Huang Donghao
• Guan Hancong
• Ravinathan Srinath
• Ahmad Mohammed Sadiq
• Dhamodharan Rajasekaran
• Davis Steven C
• Yadav Rakesh
• Le Callonnec Sébastien
• Fleming David James

Classifications

• H04L9/50

  using hash chains, e.g. blockchains or hash trees · CPC title

• H04L9/30

  Public key, i.e. encryption algorithm being computationally infeasible to invert or user's encryption keys not requiring secrecy · CPC title

• H04L9/0637

  Modes of operation, e.g. cipher block chaining [CBC], electronic codebook [ECB] or Galois/counter mode [GCM] · CPC title

• G06Q20/4012

  Verifying personal identification numbers [PIN] · CPC title

• H04L2209/56

  Financial cryptography, e.g. electronic payment or e-cash · CPC title