Method and system for processing an asset swap across two blockchains

Patent metadata

Field	Value
Publication number	US-2023385822-A1
Application number	US-202217752318-A
Country	US
Kind code	A1
Filing date	May 24, 2022
Priority date	May 24, 2022
Publication date	Nov 30, 2023
Grant date	—

Abstract

A swap check oracle receives a transfer request from a user or smart contract on a first blockchain indicating a first digital asset to be transferred. The swap check oracle verifies the authenticity of the user and/or digital asset and instructs the smart contract to transfer the first digital asset to a custodial blockchain address on the first blockchain. Another swap check oracle performs the same process for a second digital asset from a second user on a second blockchain. A central processing server is notified of the successful transfer of the digital assets to the custodial addresses on both blockchains, verifies the holding of the digital assets by the custodial addresses, and then initiates a release of the digital assets to the new parties on both of the blockchains.

First claim

What is claimed is:

1 . A method for processing an asset swap across two blockchains, comprising:
receiving, by a first processing system, a first transfer request including at least a first asset identifier associated with a first digital asset, one or more first identification values, and a first recipient address; authorizing, by the first processing system, transfer of the first digital asset; submitting, by the first processing system, one or more instructions to a first smart contract stored on a first blockchain, wherein submission of the one or more instructions results in execution of the first smart contract, and wherein execution of the first smart contract transfers the first digital asset to a first custodial address on the first blockchain; transmitting, by the first processing system, a first notification message indicating transfer of the first digital asset to a central processing server; receiving, by the central processing server, the first notification message from the first processing system; receiving, by the central processing server, a second notification message from a second processing system, the second notification message indicating transfer of a second digital asset to a second custodial address on a second blockchain; verifying, by the central processing server, successful transfer of the first digital asset on the first blockchain and successful transfer of the second digital asset on the second blockchain; transferring, by the central processing server, the first digital asset to the first recipient address on the first blockchain; and transferring, by the central processing server, the second digital asset to a second recipient address on the second blockchain.

2 . The method of claim 1 , wherein the first processing system and the second processing system are a single computing device.

3 . The method of claim 1 , wherein the first processing system and the second processing system are application programs executed by the central processing server.

4 . The method of claim 1 , wherein
the first processing system is a first blockchain node in a first blockchain network associated with the first blockchain, and the second processing system is a second blockchain node in a second blockchain network associated with the second blockchain.

5 . The method of claim 1 , wherein authorizing transfer of the first digital asset includes generating the first custodial address.

6 . The method of claim 1 , wherein authorizing transfer of the first digital asset comprises:
transmitting, by the first processing system, at least the one or more identification values to the central processing server; verifying, by the central processing server, the one or more identification values; generating, by the central processing server, the first custodial address; and receiving, by the first processing system, a message indicating successful verification of the one or more identification values from the central processing server, the message further including the first custodial address.

7 . The method of claim 1 , wherein the first transfer request is received from the first smart contract.

8 . The method of claim 1 , wherein authorizing transfer of the first digital asset includes verifying authenticity of the first digital asset.

9 . A system for processing an asset swap across two blockchains, comprising:
a first blockchain network associated with a first blockchain; a second blockchain network associated with a second blockchain; a central processing system; a first processing system; and a second processing system, wherein the first processing system
receives a first transfer request including at least a first asset identifier associated with a first digital asset, one or more first identification values, and a first recipient address,
authorizes transfer of the first digital asset,
submits one or more instructions to a first smart contract stored on the first blockchain, wherein submission of the one or more instructions results in execution of the first smart contract, and wherein execution of the first smart contract transfers the first digital asset to a first custodial address on the first blockchain, and
transmits a first notification message indicating transfer of the first digital asset to the central processing server;
the central processing server
receives the first notification message from the first processing system,
receives a second notification message from the second processing system, the second notification message indicating transfer of a second digital asset to a second custodial address on the second blockchain,
verifies successful transfer of the first digital asset on the first blockchain and successful transfer of the second digital asset on the second blockchain,
transfers the first digital asset to the first recipient address on the first blockchain, and
transfers the second digital asset to a second recipient address on the second blockchain.

10 . The system of claim 9 , wherein the first processing system and the second processing system are a single computing device.

11 . The system of claim 9 , wherein the first processing system and the second processing system are application programs executed by the central processing server.

12 . The system of claim 9 , wherein
the first processing system is a first blockchain node in the first blockchain network, and the second processing system is a second blockchain node in the second blockchain network.

13 . The system of claim 9 , wherein authorizing transfer of the first digital asset includes generating the first custodial address.

14 . The system of claim 9 , wherein authorizing transfer of the first digital asset comprises:
transmitting, by the first processing system, at least the one or more identification values to the central processing server; verifying, by the central processing server, the one or more identification values; generating, by the central processing server, the first custodial address; and receiving, by the first processing system, a message indicating successful verification of the one or more identification values from the central processing server, the message further including the first custodial address.

15 . The system of claim 9 , wherein the first transfer request is received from the first smart contract.

16 . The system of claim 9 , wherein authorizing transfer of the first digital asset includes verifying authenticity of the first digital asset.

Assignees

• Mastercard International Inc

Inventors

• Shanmugam Saravana Perumal
• Dhamodharan Rajasekaran
• Maity Arnab
• Ahmad Mohammed Sadiq

Classifications

• G06Q2220/00

  Business processing using cryptography · CPC title

• H04L9/50

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

• G06Q20/401 Primary

  Transaction verification · CPC title

• G06Q20/02

  involving a neutral party, e.g. certification authority, notary or trusted third party [TTP] · CPC title

• G06Q20/065

  using e-cash · CPC title