Blockchain settlement network

Patent metadata

Field	Value
Publication number	US-2021350458-A1
Application number	US-202016869149-A
Country	US
Kind code	A1
Filing date	May 7, 2020
Priority date	May 7, 2020
Publication date	Nov 11, 2021
Grant date	—

Abstract

An example operation includes one or more of transferring, via a blockchain, a digital value from a sender to a receiver, the digital value representing an off-chain transfer of value, monitoring a message flow between the sender and the receiver, detecting a settlement of the off-chain transfer of value based on message content within messages of the message flow, and returning, via the blockchain, the transferred digital value from the receiver to the sender based on the detected settlement.

First claim

What is claimed is:

1 . An apparatus comprising:
a memory; and a processor communicably coupled to the memory and configured to
transfer, via a blockchain, a digital value from a sender to a receiver, where the digital value represents an off-chain transfer of value,
monitor a message flow between the sender and the receiver,
detect a settlement of the off-chain transfer of value based on message content within messages of the message flow, and
return, via the blockchain, the transferred digital value from the receiver to the sender based on the detected settlement.

2 . The apparatus of claim 1 , wherein the message flow comprises a settlement request message that comprises an identifier of the sender, the receiver, and an instrument used as the digital value.

3 . The apparatus of claim 1 , wherein the processor is configured to extract message content that represents the settlement of the off-chain transfer of value and store the extracted message content as a transaction within a data block on the blockchain.

4 . The apparatus of claim 1 , wherein the processor is configured to execute a crypto service which manages encryption keys of the sender and the receiver for use on the blockchain.

5 . The apparatus of claim 1 , wherein the off-chain transfer of value comprises a payment transaction performed via an independent and parallel payment network.

6 . The apparatus of claim 1 , wherein the off-chain transfer of value comprises an international payment transaction across different jurisdictions.

7 . The apparatus of claim 1 , wherein the processor is configured to execute a send service which receives and transmits the messages within the message flow between the sender and the receiver.

8 . The apparatus of claim 1 , wherein the processor is further configured to verify that a format of the messages between the sender and the receiver are compliant with International Organization for Standardization (ISO) 20022.

9 . A method comprising:
transferring, via a blockchain, a digital value from a sender to a receiver, the digital value representing an off-chain transfer of value; monitoring a message flow between the sender and the receiver; detecting a settlement of the off-chain transfer of value based on message content within messages of the message flow; and returning, via the blockchain, the transferred digital value from the receiver to the sender based on the detected settlement.

10 . The method of claim 9 , wherein the message flow comprises a settlement request message that comprises an identifier of the sender, the receiver, and an instrument used as the digital value.

11 . The method of claim 9 , wherein the method further comprises extracting message content representing the settlement of the off-chain transfer of value and storing the extracted message content as a transaction within a data block on the blockchain.

12 . The method of claim 9 , wherein the method further comprises executing a crypto service which manages encryption keys of the sender and the receiver for use on the blockchain.

13 . The method of claim 9 , wherein the off-chain transfer of value comprises a payment transaction performed via an independent and parallel payment network.

14 . The method of claim 9 , wherein the off-chain transfer of value comprises an international payment transaction across different jurisdictions.

15 . The method of claim 9 , wherein the method further comprises executing a send service which receives and transmits the messages within the message flow between the sender and the receiver.

16 . The method of claim 9 , wherein the method further comprises verifying that a format of the messages between the sender and the receiver are compliant with International Organization for Standardization (ISO) 20022.

17 . A non-transitory computer readable medium comprising instructions, that when read by a processor, cause the processor to perform a method comprising:
transferring, via a blockchain, a digital value from a sender to a receiver, the digital value representing an off-chain transfer of value; monitoring a message flow between the sender and the receiver; detecting a settlement of the off-chain transfer of value based on message content within messages of the message flow; and returning, via the blockchain, the transferred digital value from the receiver to the sender based on the detected settlement.

18 . The non-transitory computer-readable medium of claim 17 , wherein the message flow comprises a settlement request message that comprises an identifier of the sender, the receiver, and an instrument used as the digital value.

19 . The non-transitory computer-readable medium of claim 17 , wherein the method further comprises extracting message content that represents the settlement of the off-chain transfer of value and storing the extracted message content as a transaction within a data block on the blockchain.

20 . The non-transitory computer-readable medium of claim 17 , wherein the off-chain transfer of value comprises a payment transaction performed via an independent and parallel payment network.

Assignees

• IBM

Inventors

• Gaur Nitin
• Balanavaneethan Malavan
• Satchithanantham Mayuran
• Kuo Hung Chung
• Cheng Ruby
• Chung Wing Lun

Classifications

• G06Q20/06 Primary

  Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme · CPC title

• H04L9/50

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

• H04L9/3239

  involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD · CPC title

• H04L9/3247

  involving digital signatures · CPC title

• G06Q20/3825

  Use of electronic signatures · CPC title