Secure Digital Data Operations

Abstract

A method and system for transferring digital currency from a payer to a recipient includes receiving an identifier describing data of a first entity. An entry is retrieved from the blockchain based on the received identifier. The entry is verified using the public key of the second entity. Data describing the first entity is extracted from the retrieved entries. The block in the blockchain containing the entry is verified using the third entity's public key. If the verification of the block in the blockchain is successful, digital currency is transferred from the payer to the recipient, wherein the first entity is the payer or the recipient, and wherein the transfer of digital currency from the payer to the recipient includes payment Party: Obtain the wallet public key data associated with the recipient; use at least the wallet public key data to generate a currency public key for a certain amount of digital currency to be transferred to the recipient; generate currency public keys including at least the currency public key data and Transfer data of the value of the amount of digital currency to be transferred to the fourth entity.

Description

technical field [0001] The present invention relates to systems and methods for more efficiently storing and endorsing data describing entities, and in particular data describing people or companies. Store and retrieve data from computer systems or networks. [0002] The present disclosure also relates to methods, systems and devices for digital currency systems. According to aspects of the present disclosure, technical effects such as increased efficiency due to reduced data processing and transfer requirements and increased transaction security can be achieved. Background technique [0003] It is important for separate entities to securely obtain and store information about each other and to maintain privacy. This is especially true when entities interact over a computer network such as the Internet or using a telecommunications network. It may also be important that each entity has confidence that the information describing the other entities is accurate and trustworth...

AI Technical Summary

Problems solved by technology

It may be convenient for separate entities to communicate over a public network such as the Internet, but this may involve risks

Additionally, checks can be performed beforehand or during communication to ensure each entity knows who and what they are exchanging data with, but this can also add overhead, reduce available bandwidth and involve additional processing requirements

Reducing this check reduces overhead, but also increases risk

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