Method for conducting financial transactions

Abstract

The invention relates to conducting financial transactions using fiat currencies as payment. In the claimed method for conducting financial operations, a secure electronic file containing encrypted information, including information about the nominal value of the money promised by the secure electronic file and information about a principal financial organization and a financial organization, is transmitted from an electronic wallet of one user to an electronic wallet of another user either in an online mode via the Internet, with authentication at the level of the user, the financial organization and the principal financial organization, or in an offline mode by a wired or wireless transmission of data from an electronic device of the one user to an electronic device of the other user, with authentication at the user level. Upon subsequent connection to the Internet, authentication is carried out at the level of the financial organization and the principal financial organization. The invention makes it possible to conduct secure payments in both online and offline modes.

Description

Method of carrying out financial transactions Field of technology

[0001] The invention relates to the field of banking payment systems, namely to the implementation of financial transactions using fiat currencies as means of payment.

[0002] A method for creating cryptography-based electronic money (CBEM) and an associated transaction network is known (RU 2747947 C2, 17.05.2021), which is performed by a network of computer programs functioning as nodes, and the method is characterized in that it contains the following steps:

[0003] - installation of a node, which may be a standalone computer program or a functional module of a client wallet, on one or more client computers and / or servers;

[0004] - connections of all nodes to form peer-to-peer network relay nodes via a data transmission network;

[0005] - controlling a method for creating at least one unit of the CBEM; protecting the ownership of at least one unit of the CBEM using public / private key cryptography;

[0006] - registration of ownership of at least one unit of CBEM in the registry of all transactions (e.g. blockchain) using the currency addresses of the owners;

[0007] - verification of ownership of at least one unit of the SVEM;

[0008] - restricting only valid registered users to generate one or more valid currency addresses for receiving at least one SVEM block, by verifying the submitted credentials with one of the central approval servers;

[0009] - records of transactions of at least one unit of the SVEM in the register;

[0010] - verification of transactions of at least one unit of the SVE;

[0011] - controlling a method for executing a transaction of at least one unit of the CBEM; including transaction rules in the programming code of at least one node;

[0012] - restrictions of at least one transaction approval rule comprising at least one of: requesting valid credentials from the sender, requesting one or more secret approval keys from one of the central approval servers;

[0013] - permission to create only multi-signature transactions in the pay-to-script-hash format or any other compatible format;

[0014] - permission to create only multi-signature transactions, each of which requires at least two secret keys as signatures;

[0015] - permission to create only multi-signature transactions with valid credentials;

[0016] - constraining one of these secret keys to be the secret approval key from one of the central approval servers;

[0017] - restrictions on the remaining secret keys so that they are client secret keys that are encrypted and stored in the client wallet(s);

[0018] - sending all transaction requests from client wallets to one of the central approval servers to obtain a secret approval key for signing transactions; and

[0019] - rejection of all transactions in which any one of the required secret keys is missing.

[0020] This method allows for transactions to be carried out in blockchain mode (as a distributed ledger), while maintaining transaction tracking and user privacy. However, it does not allow for a single issuer, as is necessary for state registration in the monetary sphere.

[0021] The concept of the digital ruble, published by the Bank of Russia on 01.04.2021, is also known (available on the Bank of Russia website at: http: / www.cbr.ru / Content / Document / File / 120075 / concept_08042021.pdf).

[0022] According to this concept, to transfer a digital ruble, client A, in the mobile application of credit institution A, using the recipient's identifier (for example, a phone number), sends an order to credit institution A to transfer digital rubles to client B.

[0023] Credit institution A carries out the procedures stipulated by the legislation in the field of AML / CFT / CFM, currency legislation, and, on the instructions of client A, transfers digital rubles from his wallet to the wallet of client B on the digital ruble platform.

[0024] The digital ruble platform sends notifications to clients about the deposit and debit of digital rubles through the mobile apps of credit institutions A and B.

[0025] When transferring funds between individual clients' wallets, the passive side of the Bank of Russia balance sheet moves funds from Client A's digital wallet to Client B's digital wallet. Credit institution balances are not involved in transferring funds between clients' wallets.

[0026] For offline transactions, in addition to the online wallet, the client will have a second digital ruble wallet opened directly on their mobile device. The offline wallet will be topped up by the client transferring digital rubles from their online wallet, provided they have internet access.

[0027] It is planned that offline translation can be performed using short-range wireless data transmission technology (e.g. Bluetooth, NFC).

[0028] For offline payments, the sender will be required to enter the transfer amount and then confirm the transfer. If there are sufficient funds in the sender's offline wallet, the required amount of digital rubles will be transferred to the recipient's offline wallet.

[0029] The Central Bank's concept of opening a digital wallet on the Central Bank's platform and storing electronic money in wallets, i.e., on the platform, practically replicates a cashless payment system, whereby clients' funds (cashless or digital) are stored not on the client's behalf, but in banks. Moreover, the offline payment procedure proposed by the Bank of Russia is also a type of cashless payment involving the transmission of a message regarding the transfer of funds from one wallet to another.

[0030] The claimed invention is an analogue of cash, which:

[0031] - are stored in each client’s digital wallet, as well as in the digital storage facilities of the bank and the Central Bank;

[0032] - have a three-level security system, like cash, unlike known solutions where the authenticity of the electronic coin is verified in a database.

[0033] The offline mode in the proposed invention provides a more flexible option for making payments, for example, over a long distance, in contrast to that outlined in the concept.

[0034] The objective of the claimed invention is to create an electronic analogue of cash, allowing payments between users both online and offline. Disclosure of the essence of the invention

[0035] The technical result of the claimed invention is the ability to make secure payments both online and offline.

[0036] The technical result is achieved by a method of carrying out financial transactions, in accordance with which:

[0037] - create on the issuer’s electronic computer at least one secure electronic file containing encrypted information, including information on the denomination of the money secured by the secure electronic file,

[0038] - transfer at least one secure electronic file to the computer of the main financial organization,

[0039] - at the level of the main financial organization, they supplement the protected electronic file with encrypted information, including information about the main financial organization, and transfer it to the financial organization’s computer,

[0040] - at the level of the financial institution, they supplement the secure electronic file with encrypted information, including information about the financial institution, and transfer it to the user’s electronic wallet,

[0041] - select at least one secure electronic file from the user's electronic wallet for transfer to another user and supplement it with encrypted information, including information about the user,

[0042] - transfer a secure electronic file from the electronic wallet of one user to the electronic wallet of another user online via the Internet with authentication at the level of the user, the financial institution and the main financial institution, or offline via wired or wireless data transfer from the electronic device of one user to the electronic device of another user with authentication at the user level, whereby upon subsequent access to the Internet, verification is carried out at the level of the financial institution and the main financial institution.

[0043] In particular, after the user receives a secure electronic file, it is transferred from the user to the financial institution for verification with authentication at the financial institution level, then to the main financial institution with authentication at the level of the main financial institution, and the secure electronic file is returned to the user's digital wallet.

[0044] In particular, the secure electronic file is stored in the user's digital wallet or in the digital safe of the financial institution, or in the digital safe of the main financial institution, or in the digital storage of the issuer.

[0045] In particular, a secure electronic file received from a user by a financial institution and verified by the main financial institution is exchanged for non-cash funds in the commercial account of the user of the financial institution or for cash.

[0046] In particular, additional authentication is performed at the issuer level by transferring a secure electronic file from the main financial institution to the issuer, with verification performed for each transaction or periodically as secure electronic files accumulate, and after verification, the secure electronic file is returned to the main financial institution.

[0047] In particular, online encryption is performed using asymmetric encryption using elliptic curves, which utilize public and private encryption keys at the level of the financial institution and the host financial institution.

[0048] In particular, offline authentication is performed by the user receiving the secure electronic file by checking the encrypted information supplemented by the sending user and / or financial institution with its public key.

[0049] In particular, the user's electronic device may be a desktop or laptop computer, a smartphone, or a tablet. Implementation of the invention

[0050] The method for carrying out financial transactions is implemented as follows.

[0051] At least one secure electronic file containing encrypted information, including the denomination of the currency backed by the secure electronic file, is created on the issuer's computer. The encrypted information may also include additional information, such as the currency code, file identifier, issue date, organization code, and other technical information.

[0052] At least one secure electronic file is transferred to the primary financial institution's computer. The file may be transferred via the internet, a local area network, or secure communication channels between organizations.

[0053] At the primary financial institution level, the secure electronic file is supplemented with encrypted information, including information about the primary financial institution, and transferred to the financial institution's computer. The encrypted information supplementing the electronic file may include the primary financial institution's electronic signature, the institution's code, the date of receipt, and / or the date of transmission of the secure electronic file.

[0054] At the financial institution level, the secure electronic file is supplemented with encrypted information, including the financial institution's details, and transferred to the user's e-wallet. The encrypted information supplementing the electronic file may include the financial institution's electronic signature, the institution's code, and the date of receipt and / or transfer of the secure electronic file.

[0055] At least one secure electronic file is selected from the user's e-wallet for transfer to another user and supplemented with encrypted information containing user information. The encrypted information supplementing the electronic file may include the user's electronic signature, user ID, and the date of receipt and / or transfer of the secure electronic file.

[0056] A secure electronic file is transferred from one user's e-wallet to another user's e-wallet online via the internet, with authentication at the user, financial institution, primary financial institution, and issuer levels. The authenticity of the encrypted information contained in the secure electronic file is verified to ensure that the original and supplemented encrypted information have not been altered. If the secure electronic file contains an electronic signature, it is verified using its public key.

[0057] Encryption is performed using asymmetric encryption using elliptic curves, which utilize public and private encryption keys at the level of the financial institution and the host financial institution.

[0058] In the absence of an internet connection, it is possible to transfer a secure electronic file offline via wired or wireless data transfer (e.g., Bluetooth, NFC, or by scanning a QR code from the screen) from the electronic device of one user to the electronic device of another user with authentication at the user level, while, upon subsequent access to the internet, verification is carried out at the level of the financial institution and the main financial institution.

[0059] Offline authentication can be performed by the user receiving the secure electronic file by verifying the encrypted information supplemented by the sending user and / or financial institution with its public key.

[0060] The user's electronic device can be a desktop or laptop computer, a smartphone, or a tablet.

[0061] The verification process is as follows. After the user receives the secure electronic file, it is transferred from the user to the financial institution for verification, authenticating it at the financial institution level, then to the host financial institution, authenticating it at the host financial institution level, and the secure electronic file is returned to the user's digital wallet.

[0062] The secure electronic file is stored either in the user's digital wallet, or in the financial institution's digital safe, or in the host financial institution's digital safe, or in the issuer's digital storage.

[0063] The secure electronic file can be returned by the user to the financial institution. In this case, after verification by the primary financial institution, it is exchanged for non-cash funds in the user's commercial account at the financial institution or for cash. The secure electronic file is stored in the financial institution's digital safe.

[0064] If necessary, additional authentication is performed at the issuer level. For this purpose, the primary financial institution transmits a secure electronic file to the issuer. Issuer-level authentication is performed for each transaction or periodically as secure electronic files accumulate. After verification, the issuer returns the secure electronic file to the primary financial institution.

[0065] Thus, the implementation of the invention provides the ability to make secure payments both online and offline.

Claims

A method for carrying out financial transactions, according to which: - at least one secure electronic file is created on the issuer’s computer, containing encrypted information, including information on the denomination of money secured by the secure electronic file, - at least one secure electronic file is transferred to the computer of the main financial institution, - at the level of the main financial institution, the secure electronic file is supplemented with encrypted information, including information on the main financial institution, and transferred to the computer of the financial institution, - at the level of the financial institution, the secure electronic file is supplemented with encrypted information, including information on the financial institution, and transferred to the user’s electronic wallet, - at least one secure electronic file is selected in the user’s electronic wallet for its transfer to another user and is supplemented with encrypted information, including information on the user,- transfer a secure electronic file from the electronic wallet of one user to the electronic wallet of another user online via the Internet with authentication at the level of the user, financial institution and the main financial institution, or offline via wired or wireless data transfer from the electronic device of one user to the electronic device of another user with authentication at the user level, whereby upon subsequent access to the Internet, verification is carried out at the level of the financial institution and the main financial institution. The method according to paragraph 1, characterized in that after the user receives the secure electronic file, it is transferred for verification from the user to the financial institution with authentication at the level of the financial institution, then to the main financial institution with authentication at the level of the main financial institution, and the secure electronic file is returned to the user's digital wallet. The method according to paragraphs 1 or 2, characterized in that the protected electronic file is stored in the user’s digital wallet or in the digital safe of the financial institution, or in the digital safe of the main financial institution, or in the digital storage of the issuer. The method according to any of paragraphs 1-3, characterized in that the secure electronic file received from the user by the financial organization and verified by the main financial organization is exchanged for non-cash funds in the commercial account of the user of the financial organization or for cash. The method according to any of paragraphs 1-4, characterized in that additional authentication is performed at the issuer level by transferring a secure electronic file from the main financial institution to the issuer, with the verification being performed for each transaction or periodically as secure electronic files accumulate, and after verification, the secure electronic file is returned to the main financial institution. The method according to any of paragraphs 1-5, characterized in that the encryption carried out online is carried out on the basis of asymmetric encryption using elliptic curves, using public and private encryption keys at the level of the financial institution and the main financial institution. The method according to any of paragraphs 1-5, characterized in that the authentication in offline mode is carried out by the user receiving the protected electronic file by checking the encrypted information supplemented by the sending user and / or financial organization with its public key. The method according to any of paragraphs 1-7, characterized in that a stationary or portable computer, or a smartphone, or a tablet is used as the user’s electronic device.