A private equity fund share transfer platform and method based on a blockchain

Abstract

The application provides a private placement fund share transfer platform and method based on a blockchain, and relates to the technical field of the blockchain. The platform comprises a technical support layer and a functional support layer; the technical support layer comprises a RegChain blockchain system and a basic service system; the functional support layer is used for realizing user management, private placement fund information disclosure, and a private placement fund transaction business process, fund share transfer, and fund management; the basic service system provides file storage, data storage, data caching, a message queue, an agent, and a container service for the private placement fund share platform; the RegChain blockchain system deploys blockchain nodes at a private placement fund operating unit and a regulatory unit, constructs a consortium chain, and respectively deploys a private placement fund business contract and a regulatory contract at the operating unit and the regulatory unit, which are used for consensus on chain of business data of the functional support layer; the operating unit executes an online business process through the private placement fund business contract, and the regulatory unit supervises compliance of a private placement fund transaction letter of inquiry business.

Description

Technical Field

[0001] This invention relates to the field of blockchain technology, and in particular to a blockchain-based platform and method for transferring private equity fund shares. Background Technology

[0002] The demand for exit from equity investment and venture capital shareholding holders is increasing daily, and there is an urgent need to establish a private equity transfer platform to broaden the exit channels for private equity and venture capital.

[0003] Existing private equity transfer platforms overseas mainly fall into two categories: one provides trading services for PE / VC fund shares, with representative platforms including NYPPEX and SecondCap; the other provides trading services for the equity of invested companies' portfolios, such as Sharespost, SecondMarket, and Nasdaq Portal. Currently, there are no such platforms in China, and online private equity fund share transfer business is in its infancy in the domestic market.

[0004] Currently, the transfer of private equity fund shares involves transferors, transferees, intermediaries, and authoritative trading institutions, and is mainly conducted offline. The process is relatively complex, and the main transaction process, such as the negotiated transfer process, is as follows:

[0005] 1) Shareholders submit materials to the exchange to register their shareholdings;

[0006] 2) Manual review by the exchange

[0007] 3) The unit holder and the transferee reach a private transaction agreement;

[0008] 4) The unit holder and the transferee submit an application for negotiated transfer at the exchange and submit a transfer contract.

[0009] 5) The exchange conducts manual review and completes the transaction.

[0010] This offline transaction model faces the following problems:

[0011] 1) The transaction process requires submitting materials offline, which is time-consuming and labor-intensive;

[0012] 2) Fund investors are scattered, making it difficult for buyers and sellers to connect;

[0013] 3) The intermediary service agencies are not yet mature;

[0014] 4) Due diligence and investigation are difficult to conduct;

[0015] Blockchain technology is a novel distributed infrastructure and computing paradigm that utilizes a block-chain data structure to verify and store data, distributed node consensus algorithms to generate and update data, cryptography to ensure the security of data transmission and access, and smart contracts composed of automated script code to program and manipulate data. To effectively address the current problems and risks associated with private equity fund share transfers, a private equity fund share transfer platform can be built based on blockchain technology. This platform digitizes the share transfer transaction process, stores all transaction information on the blockchain, automatically processes parts of the transaction process using smart contracts, and monitors transaction content in real time using regulatory contracts. By establishing a multi-party trust platform using blockchain technology, with clear division of rights and responsibilities among participating parties, it can solve the current problems of cumbersome private equity fund share transfers, difficulties in connection, low circulation efficiency, and regulatory challenges. Summary of the Invention

[0016] The technical problem to be solved by the present invention is to address the shortcomings of the prior art by providing a blockchain-based private equity fund share transfer platform and method to realize the transfer of private equity fund shares.

[0017] To solve the above-mentioned technical problems, the technical solution adopted by the present invention is as follows:

[0018] On one hand, this invention provides a blockchain-based private equity fund share transfer platform, comprising a technical support layer and a functional support layer. The technical support layer, serving as the platform's underlying layer, includes the RegChain blockchain system and a basic service system. The functional support layer is used to implement user management, private equity fund information disclosure, private equity fund transaction process management, fund share transfer management, and fund management. The basic service system provides file storage, data storage, data caching, message queues, proxy, and container services to support platform operation. The RegChain blockchain system deploys blockchain nodes at private equity fund operating units and regulatory units to build a consortium blockchain, and deploys private equity fund business contracts and regulatory contracts at the operating units and regulatory units respectively. The RegChain blockchain system is used to upload the business data consensus of the functional support layer to the blockchain. The operating unit executes online business processes through the private equity fund business contracts, and the regulatory unit supervises the compliance of private equity fund transaction business through local blockchain nodes and regulatory contracts.

[0019] The functional support layer includes a user management module, an information disclosure module, a process management module, a share management module, a transfer management module, a fund management module, and a data reporting module;

[0020] The user management module is used to manage the registration, login, and permission management of tourists, private equity fund sellers, private equity fund transferees, transfer intermediaries, and platform administrators.

[0021] The information disclosure module is used to realize all private equity fund transaction information disclosure business: the information disclosure business adopts a tiered information disclosure system and discloses the relevant information of the private equity fund uploaded by the transferor to investors in accordance with the rules;

[0022] The process management module is used to manage all private equity fund transaction business processes, including business process uploading, reviewer configuration, process status query, pending task review, and historical task query functions.

[0023] The fund share management module is used to register, change, freeze and pledge fund shares. After the business is completed, the RegChain blockchain system is called to store the fund share operations.

[0024] The share management module abstracts all share management business processes, such as share registration, modification, freezing, and pledging, into submitting a share operation application. Platform administrators conduct preliminary and secondary reviews of the share operations and execute the share operations after all reviews are approved, generating supporting documents. As a user's asset on the blockchain, the share registration, modification, freezing, pledging, and transfer operations are notarized in the RegChain blockchain system, realizing full lifecycle management of share operations.

[0025] The transfer management module is used to implement fund share transfer applications, publish transfer announcements, disclose information, match transfers, quote transfer prices, confirm transfers, and entrust transfers. After the fund share transfer is completed, the RegChain blockchain system is called to store the transfer information on the blockchain.

[0026] The funds management module is used to manage funds-related transactions related to fund unit transfers;

[0027] The reporting module generates reports on fund units, information disclosure of transferors, fund transfer quotes, and transaction details for business analysis.

[0028] Preferably, the RegChain blockchain system uses national commercial cryptographic algorithms and distributed storage technology to encrypt data at each stage of the private equity fund share transfer business process, thereby achieving trusted data association.

[0029] Preferably, the private equity fund business contract utilizes blockchain smart contracts to automatically execute the corresponding stage of the business process for the transaction data that has been uploaded to the blockchain;

[0030] Preferably, the RegChain blockchain system writes and uses regulatory contracts on the blockchain deployed by the regulatory authority, sets up a regulatory rule base, performs real-time checks on the transaction data uploaded to the chain, and executes regulatory operations such as preventing non-compliant data from being uploaded to the chain and terminating transactions.

[0031] Preferably, the process management module manages all business processes of the private equity fund exchange based on a workflow engine;

[0032] Preferably, the transfer management module includes functions for negotiated transfer, auction transfer, and transfer record query; the transfer process is abstracted as follows: submission of share transfer intention, review by platform administrators, publication of information disclosure, bidding by potential transferees, screening of potential transferees, coordination of due diligence by the general partner of the transferring private equity fund, reaching a transaction intention, issuance of transaction certificate by the platform, change of share registration by the market supervision department, payment of consideration by the third-party escrow, and completion of the transaction; at the same time, the shares are treated as on-chain assets, realizing the transfer of users' on-chain assets during the share transfer process, and finally realizing the transfer of user shares after the blockchain notarization is completed;

[0033] Preferably, the fund management module integrates bank interfaces to reserve fund settlement and reconciliation services for the custodian bank of the private equity fund. The custodian bank accesses the platform by deploying an independent blockchain node, uses the custodian bank's fund settlement records to assist the platform in completing the reconciliation, and uploads the reconciliation results to the blockchain for evidence storage.

[0034] On the other hand, the present invention also provides a blockchain-based method for transferring private equity fund shares, comprising the following steps:

[0035] Step 1: Deploy blockchain nodes to build a consortium blockchain within the private equity fund share transfer platform for both the operating and regulatory entities.

[0036] Step 2: The fund transferor, transferee, and intermediary register and apply for permissions on the private equity fund share transfer platform through the user management module;

[0037] Step 3: The fund seller completes the share registration process through the share module;

[0038] Step 4: The fund transferor submits a transfer intention application and information disclosure materials through the transfer management module;

[0039] Step 5: Platform administrators review the transfer intention application and information disclosure materials. After the review is approved, the blockchain module is used to store the transfer intention application, information disclosure materials, and review information.

[0040] Step 6: After the transfer intention application is approved, the transfer management module publishes a transfer announcement to disclose information to qualified investors;

[0041] Step 7: The intended transferee initiates an application for transfer, and the transferor selects a transferee that meets the requirements;

[0042] Step 8: The transferee whose application for transfer has been approved initiates a bid, and the transferor selects the bid to reach a transaction agreement;

[0043] Step 9: The transferor and transferee upload the transfer contract. After the platform approves the contract, it issues a certificate, calls the fund account module to complete the fund transfer, and records the transaction information on the blockchain to complete the fund transfer transaction.

[0044] The beneficial effects of adopting the above technical solution are as follows: The blockchain-based private equity fund share transfer platform and method provided by this invention improves transaction service efficiency, increases the liquidity of private equity funds, and reduces the time and monetary costs of the transaction process by streamlining the private equity fund share transfer process and making it an online platform. By using blockchain to store transaction information at important nodes in the transaction process, and having business contracts execute parts of the transaction process, the distributed, tamper-proof, and traceable technical advantages of blockchain are leveraged to ensure the reliability and security of the private equity fund share transfer process, clearly define rights and responsibilities, and facilitate supervision. Attached Figure Description

[0045] Figure 1 A structural block diagram of a blockchain-based private equity fund share transfer platform provided for embodiments of the present invention;

[0046] Figure 2 A flowchart illustrating a blockchain-based private equity fund agreement transfer method provided in this embodiment of the invention. Detailed Implementation

[0047] The specific embodiments of the present invention will be described in further detail below with reference to the accompanying drawings and examples. The following examples are for illustrative purposes only and are not intended to limit the scope of the invention.

[0048] In this embodiment, a blockchain-based private equity fund share transfer platform, such as... Figure 1 As shown, the platform includes a technical support layer and a functional support layer. The technical support layer, serving as the platform's underlying layer, includes the RegChain blockchain system and basic service system. The functional support layer is used to implement user management, private equity fund information disclosure, private equity fund transaction process management, fund share transfer management, and fund management.

[0049] The basic service system provides file storage, data storage, data caching, message queue, proxy and container services for the private equity fund share platform to support the platform's operation. All functions of the basic service system are implemented using mainstream technologies. For example, file storage uses NFS, relational databases use MySQL, non-relational databases use Redis, message queues use a message queue built on Redis and message tables, proxy services use Nginx, and container services use Docker.

[0050] The RegChain blockchain system deploys blockchain nodes at both the private equity fund operating unit and the regulatory unit to build a consortium blockchain, and deploys private equity fund business contracts and regulatory contracts at both units. The RegChain blockchain system is used to put the consensus of business data in the functional support layer onto the blockchain, ensuring the authenticity, integrity, and immutability of private equity fund transaction data. The operating unit executes online business processes through the private equity fund business contracts, while the regulatory unit supervises the compliance of private equity fund transaction business through local blockchain nodes and regulatory contracts. The RegChain blockchain system utilizes national commercial cryptographic algorithms and distributed storage technology to encrypt data at each stage of the private equity fund share transfer business process (transfer application, issuance of transfer announcement, information disclosure, transfer matching, transfer quotation, transfer confirmation), achieving trusted data association. In this embodiment, the private equity fund business contract uses blockchain smart contracts to automatically execute the corresponding stage of the business process for the transaction data already on the blockchain, improving business execution efficiency. The RegChain blockchain system writes and uses regulatory contracts on the blockchain deployed by the regulatory unit, sets up a regulatory rule base, performs real-time checks on the transaction data on the blockchain, and executes regulatory operations such as preventing non-compliant data from being on the blockchain and terminating transactions, improving regulatory efficiency.

[0051] In this embodiment, the functional support layer includes a user management module, an information disclosure module, a process management module, a share management module, a transfer management module, a fund management module, and a data report module;

[0052] The user management module is used to manage the registration, login, and permission management of tourists, private equity fund sellers, private equity fund transferees, transfer intermediaries, and platform administrators.

[0053] The information disclosure module is used to realize all private equity fund transaction information disclosure business: the information disclosure business adopts a hierarchical information disclosure system and discloses the relevant information of the private equity fund uploaded by the transferor to investors in accordance with the rules; in the information disclosure module, the transferor and the transferee are respectively corresponding to the corresponding nodes on the consortium blockchain. The platform's information disclosure service solves the problems of distrust and information asymmetry between the transferor and the transferee through the distributed characteristics of blockchain.

[0054] The process management module is used to manage all private equity fund transaction business processes, including business process uploading, reviewer configuration, process status query, pending task review, and historical task query functions; the process management module manages all private equity fund transaction business processes based on a workflow engine.

[0055] The share management module is used to realize the registration, change, freezing and pledging of fund shares. After the business is completed, the RegChain blockchain system is called to store the share operation.

[0056] The share management module abstracts all share management business processes, such as share registration, modification, freezing, and pledging, into submitting a share operation application. Platform administrators conduct preliminary and secondary reviews of the share operations and execute the share operations after all reviews are approved, generating supporting documents. As a user's asset on the blockchain, the share registration, modification, freezing, pledging, and transfer operations are notarized in the RegChain blockchain system, realizing full lifecycle management of share operations.

[0057] The transfer management module is used to implement fund share transfer applications, publish transfer announcements, disclose information, match transfers, quote transfers, confirm transfers, and entrust transfers. After the fund share transfer is completed, the RegChain blockchain system is invoked to store the transfer information on the blockchain. In this embodiment, the transfer management module includes functions for negotiated transfer, auction transfer, and transfer record query. The transfer process is abstracted as follows: submission of share transfer intention, review by platform administrators, publication of information disclosure, quotation by prospective transferees, screening of prospective transferees, coordination of due diligence by the general partner of the transferring private equity fund, reaching a transaction intention, issuance of transaction certificate by the platform, change of share registration by the market supervision department, payment of consideration by the third-party escrow, and completion of the transaction. At the same time, the shares are treated as on-chain assets, realizing the transfer of users' on-chain assets during the share transfer process, and finally realizing the transfer of user shares after blockchain storage, ensuring that the entire process is tamper-proof, non-repudiable, traceable, and supervised.

[0058] The fund settlement on the transfer platform is completed through a designated third-party account; the platform itself does not act as a party to the transaction. Therefore, the third-party custody and payment consideration refers to the transfer platform generating a settlement result based on the transfer entrustment transaction record agreed upon by both parties. After confirming that the available shares in the share settlement account and the fund balance in the fund settlement account are sufficient to meet the settlement result, the platform completes the share settlement and fund transfer for both parties.

[0059] The fund management module is used to manage fund transactions related to fund share transfers, such as bank binding, withdrawal, deposit, delivery, fund flow inquiry, fund reconciliation, and fund settlement. In this embodiment, the fund management module integrates bank interfaces to reserve fund settlement and reconciliation services for the private equity fund's custodian bank. The custodian bank accesses the platform by deploying an independent blockchain node, uses the custodian bank's fund settlement records to assist the platform in completing reconciliation, and uploads the reconciliation results to the blockchain for evidence storage, further supporting the competent authority to achieve penetrating supervision of the platform's business.

[0060] The reporting module generates reports on fund units, information disclosure of transferors, quotations, and transaction flows for business analysis and service quality improvement.

[0061] In this embodiment, a blockchain-based method for transferring private equity fund shares is described, such as... Figure 2 As shown, it includes the following steps:

[0062] Step 1: Deploy blockchain nodes to build a consortium blockchain within the private equity fund share transfer platform for both the operating and regulatory entities.

[0063] Step 2: The fund transferor, transferee, and intermediary register and apply for permissions on the private equity fund share transfer platform through the user management module;

[0064] Step 3: The fund seller completes the share registration process through the share module;

[0065] Step 4: The fund transferor submits a transfer intention application and information disclosure materials through the transfer management module;

[0066] Step 5: Platform administrators review the transfer intention application and information disclosure materials. After the review is approved, the blockchain module is used to store the transfer intention application, information disclosure materials, and review information.

[0067] Step 6: After the transfer intention application is approved, the transfer management module publishes a transfer announcement to disclose information to qualified investors;

[0068] Step 7: The intended transferee initiates an application for transfer, and the transferor selects a transferee that meets the requirements;

[0069] Step 8: The transferee whose application for transfer has been approved initiates a bid, and the transferor selects the bid to reach a transaction agreement;

[0070] Step 9: The transferor and transferee upload the transfer contract. After the platform approves the contract, it issues a certificate, calls the fund account module to complete the fund transfer, and records the transaction information on the blockchain to complete the fund transfer transaction.

[0071] Finally, it should be noted that the above embodiments are only used to illustrate the technical solutions of the present invention, and are not intended to limit them. Although the present invention has been described in detail with reference to the foregoing embodiments, those skilled in the art should understand that modifications can still be made to the technical solutions described in the foregoing embodiments, or equivalent substitutions can be made to some or all of the technical features therein. Such modifications or substitutions do not cause the essence of the corresponding technical solutions to deviate from the scope defined by the claims of the present invention.

Claims

1. A blockchain-based private fund share transfer platform, characterized in that: The technical support layer includes a RegChain blockchain system and a basic service system; the functional support layer is used for realizing user management, private fund information disclosure, private fund transaction business process management, fund share transfer management and fund management; the basic service system provides file storage, data storage, data caching, message queue, agent and container service for the private fund share platform to support platform operation; the RegChain blockchain system deploys blockchain nodes in the private fund operating unit and the regulatory unit, constructs a consortium chain, and respectively deploys a private fund business contract and a regulatory contract in the operating unit and the regulatory unit; the RegChain blockchain system is used for consensus on chain of business data of the functional support layer; The operating unit executes online business processes through the private fund business contract, and the regulatory unit supervises the compliance of the private fund transaction business through the local blockchain node and the regulatory contract; The functional support layer includes a user management module, an information disclosure module, a process management module, a share management module, a transfer management module, a fund management module and a data report module; The user management module is used for managing the registration, login and permission management of tourists, private fund transferors, private fund transferees, transfer intermediaries and platform management personnel; The information disclosure module is used for realizing all private fund transaction information disclosure businesses: the information disclosure businesses adopt a hierarchical information disclosure system and disclose the private fund related information uploaded by the transferor to the investors according to rules; The process management module is used for managing all private fund transaction business processes, including business process uploading, audit personnel configuration, process state query, pending task auditing and historical task query functions; The share management module is used for realizing fund share registration, change, freezing and pledge businesses, and calling the RegChain blockchain system to store the fund share operation after the completion of the businesses; The share management module abstracts all share management business processes such as share registration, change, freezing and pledge operation into share operation application submission, platform management personnel preliminary review and review of the share operation, and executes the share operation after all the audits are passed to generate a proof file; the share is an asset of the user on the blockchain, and the share registration, change, freezing, pledge and transfer operations are stored in the RegChain blockchain system to realize the whole life cycle management of the share operation. The transfer management module is used to realize fund share transfer application, transfer announcement, information disclosure, transfer matching, transfer offer, transfer confirmation and transfer commission, and call the RegChain blockchain system for chain storage of transfer information after the completion of fund share transfer business; the transfer management module includes protocol transfer, bidding transfer and transfer record query function; the transfer process is abstracted as: share transfer intention submission, platform management personnel review, information disclosure release, intention assignee offer, screening of intention assignee, coordination of general partner of private equity fund, transaction intention, platform transaction voucher, market supervision department share registration change, three-party custody payment of counterparty, transaction completion; at the same time, the share is regarded as a chain asset, the transfer of user's on-chain asset is realized in the process of share transfer, and the transfer of user's share is finally realized after the completion of blockchain storage; The fund management module is used to manage fund transfer related fund business; the fund management module integrates bank interface, reserves fund settlement and reconciliation service for the custody bank of private equity fund, and accesses the platform by deploying independent blockchain node, uses the fund settlement record of the custody bank to assist the platform to complete reconciliation, and stores the reconciliation result on the chain; The report module generates report information for fund share, transferor information disclosure, fund transfer offer and transaction flow, which is used for business analysis. 2.The private fund share transfer platform based on the blockchain according to claim 1, characterized in that: The RegChain blockchain system uses national commercial cryptographic algorithms and distributed storage technology to encrypt the data of each link of the private equity fund share transfer business process, realizing the trusted association of data. 3.The private fund share transfer platform based on blockchain according to claim 1, characterized in that: The private equity fund business contract uses blockchain smart contract to automatically execute the corresponding business process for the on-chain transaction data. 4.The private fund share transfer platform based on blockchain of claim 1, wherein: The RegChain blockchain system uses the supervision contract deployed on the blockchain of the regulatory unit to set up a supervision rule library to check the on-chain transaction data in real time and perform supervision operations such as preventing non-compliant data from being stored on the chain and terminating transactions. 5.The private fund share transfer platform based on blockchain of claim 1, characterized in that: The process management module manages all business processes of private equity fund transactions based on a workflow engine. 6.A method for private equity fund share transfer transaction based on blockchain, implemented based on the private equity fund share transfer transaction platform based on blockchain in claim 1. The steps are as follows: Step 1, the operating unit and the regulatory unit deploy blockchain nodes to build a consortium chain in the private equity fund share transfer platform; Step 2, the fund transferor, assignee and intermediary register and apply for permission in the private equity fund share transfer platform through the user management module; Step 3, the fund transferor completes the share registration operation through the share module; Step 4, the fund transferor submits the transfer intention application and information disclosure materials through the transfer management module; Step 5, the platform management personnel review the transfer intention application and information disclosure materials, and after the review is passed, the blockchain module is called to store the transfer intention application, information disclosure materials and review information; Step 6, after the transfer intention application is approved, the transfer management module publishes the transfer announcement and publishes the information disclosure to qualified investors; Step 7, the intention assignee initiates the assignment application, and the transferor selects the assignee meeting the requirements; Step 8: The assignee initiates a bid after the assignment application is approved, and the assignor selects the bid to reach a transaction intention; Step 9: The assignor and assignee upload the transfer contract, and the platform issues a certificate after the audit is passed. The fund account module is called to complete the fund transfer, and the transaction information is stored on the chain for evidence, completing the fund transfer transaction.

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