Settling obligations via netting transactions

Patent metadata

Field	Value
Publication number	US-12333496-B2
Application number	US-202318118716-A
Country	US
Kind code	B2
Filing date	Mar 7, 2023
Priority date	Oct 2, 2017
Publication date	Jun 17, 2025
Grant date	Jun 17, 2025

Abstract

A system is provided for netting obligations between entities of a cycle of obligations. Each obligation specifying a quantity of an item that a from-entity of the cycle is obligated to provide to a to-entity of the cycle. For each entity, the system determines whether the sum of its inventory of the item and the quantity of the obligation on which it is a to-entity is sufficient to satisfy the obligation on which it is a from-entity. When sufficient, the system identifies one or more netting transactions to settle the obligations of the cycle. The system then directs the execution of the netting transactions and settlement transactions to effect and record the settling of the obligations.

First claim

I claim:

1. A method performed by one or more computing systems of a network of network nodes for preserving privacy of obligations during a network scan, the method comprising:
under control of an initiator network node,
generating a scan identifier based on an initiator identifier of the initiator network node and a timestamp;
signing an initiate scan request using a first private key of a first public/private key pair;
selecting a nominated network node from the network of network nodes; and
sending to the nominated network node the initiate scan request that includes the scan identifier; and

under control of the nominated network node,
receiving the initiate scan request;
signing the initiate scan request using a second private key of a second private/public key pair; and
initiating a scan request by sending to a receiving network node the initiate scan request that is signed using the first private key and the second private key.

2. The method of claim 1 wherein a network node verifies signatures using a first public key of the first public/private key pair and a second public key of the second public/private key pair to determine that the initiate scan request was signed by two different entities.

3. The method of claim 1 wherein the receiving network node verifies that the initiator network node is different than the nominated network node.

4. The method of claim 3 wherein upon determining that the initiator network node is the same as the nominated network node, the receiving network node refuses to participate in the scan request.

5. The method of claim 1 wherein the receiving network node, upon receiving a second scan request while it is processing the initiating scan request, compares the scan identifier of the initiate scan request and a scan identifier of the second scan request.

6. The method of claim 5 wherein when the scan identifier of the second scan request is less than the scan identifier of the initiate scan request, the receiving network node aborts processing of the initiate scan request.

7. The method of claim 5 wherein when the scan identifier of the second scan request is greater than the scan identifier of the initiate scan request, the receiving network node responds to the second scan request indicating that the second scan request collided with the initiate scan request.

8. At least one non-transitory, computer-readable medium carrying instructions, which when executed by at least one data processor, performs operations for preserving privacy of obligations during a network scan, the operations comprising:
under control of an initiator network node,
generating a scan identifier based on an initiator identifier of the initiator network node and a timestamp;
signing an initiate scan request using a first private key of a first public/private key pair;
selecting a nominated network node from the network of network nodes; and
sending to the nominated network node the initiate scan request that includes the scan identifier; and

under control of the nominated network node,
receiving the initiate scan request;
signing the initiate scan request using a second private key of a second private/public key pair; and
initiating a scan request by sending to a receiving network node the initiate scan request that is signed using the first private key and the second private key.

9. The at least one non-transitory, computer-readable medium of claim 8 wherein a network node verifies signatures using a first public key of the first public/private key pair and a second public key of the second public/private key pair to determine that the initiate scan request was signed by two different entities.

10. The at least one non-transitory, computer-readable medium of claim 8 wherein the receiving network node verifies that the initiator network node is different than the nominated network node.

11. The at least one non-transitory, computer-readable medium of claim 10 wherein upon determining that the initiator network node is the same as the nominated network node, the receiving network node refuses to participate in the scan request.

12. The at least one non-transitory, computer-readable medium of claim 8 wherein the receiving network node, upon receiving a second scan request while it is processing the initiating scan request, compares the scan identifier of the initiate scan request and a scan identifier of the second scan request.

13. The at least one non-transitory, computer-readable medium of claim 12 wherein when the scan identifier of the second scan request is less than the scan identifier of the initiate scan request, the receiving network node aborts processing of the initiate scan request.

14. The at least one non-transitory, computer-readable medium of claim 12 wherein when the scan identifier of the second scan request is greater than the scan identifier of the initiate scan request, the receiving network node responds to the second scan request indicating that the second scan request collided with the initiate scan request.

Assignees

• R3 Ltd

Inventors

• Hudson David

Classifications

• G06Q20/389

  Keeping log of transactions for guaranteeing non-repudiation of a transaction · CPC title

• G06Q20/3829

  involving key management · CPC title

• G06Q2220/00

  Business processing using cryptography · CPC title

• G06Q40/00

  Finance; Insurance; Tax strategies; Processing of corporate or income taxes · CPC title

• H04L2209/56

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