Blockchain Bilateral Negotiation With Encrypted Agreement Validation
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Solution Overview
Problem
Existing blockchain systems face challenges in facilitating bilateral negotiations while maintaining the confidentiality and privacy of negotiating parties, as well as ensuring the integrity and authenticity of agreement content, especially in permissioned blockchains with multiple participants.
Innovation Solution
Utilizing a permissioned blockchain with public key cryptography and smart contracts to manage bilateral negotiations by generating universally unique identifiers (UUIDs) and encrypting agreement proposals, ensuring only intended parties can access and validate agreements through digital signatures.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a public blockchain is used to store negotiation proposals, then transparency and verifiability are improved, but confidentiality and privacy of negotiating parties deteriorate
Solution Approach 1:
The system segments information into public elements (proposal UUID, timestamp, parties involved) stored on-chain for transparency, and private elements (actual proposal content, digital signatures) kept confidential through encryption. This allows different parts of the negotiation data to have different visibility levels, resolving the contradiction between transparency and confidentiality.
Solution Approach 2:
The patent introduces an intermediary encryption mechanism that mediates between the need for public verification and private confidentiality. The encryption layer acts as a buffer, allowing the system to maintain public transparency while protecting private information, thus resolving the contradiction.
2Reliability
If digital signatures are required for all proposals, then authenticity and integrity are improved, but device complexity increases
Solution Approach 1:
The system implements self-service authentication where each party automatically generates and applies their own digital signature to proposals without requiring manual intervention or complex verification protocols. The blockchain network automatically verifies signatures, reducing the burden on individual devices and simplifying the overall system while maintaining high authenticity and integrity.
Data Source
AI summary
An example operation may include one or more of identifying a proposal associated with a first blockchain member and a second blockchain member, generating a key/value pair for the proposal, creating a writeset including the key/value pair, storing the writeset in a blockchain, receiving digital signatures at the blockchain from the first blockchain member and the second blockchain member, and validating the proposal as an agreement.