Multi-Party Blockchain Records Using a Signed Data Package
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Solution Overview
Problem
Blockchain technology is not suited for recording interactions between multiple actors contributing to a single project, as each actor has a separate private key, leading to disconnected and difficult-to-track entries that make it challenging to verify the completion of the entire project.
Innovation Solution
A data package is created that defines multiple interactions, each associated with a different entity, and each node computer approves and digitally signs the package using its unique private key, allowing the package to be added to a blockchain record once all parties agree.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If each actor records their own promise separately on the blockchain using their private key, then each individual's commitment is secured and verified, but the blockchain entries become disconnected and difficult to track, making it challenging to verify completion of the entire project
Solution Approach 1:
The patent combines multiple separate blockchain entries into a single unified entry by introducing a project manager account that consolidates promises from multiple actors. Instead of each actor creating separate entries that are difficult to track, all promises are merged into one blockchain entry associated with the project manager, making the entire project's progress trackable through a single record while maintaining the reliability of individual commitments through digital signatures.
2Reliability
If multiple actors contribute to a single project with separate blockchain entries, then each actor's individual promise is recorded immutably, but there is no simple way to record that the entire project will be finished
Solution Approach 1:
The patent introduces a project manager account as an intermediary that collects and consolidates promises from multiple actors into a single blockchain entry. This intermediary structure allows the system to maintain the immutability and reliability of individual records while simultaneously preserving the overall project completion status, as the project manager's unified entry serves as a complete record of all contributions needed to finish the project.
3Reliability
If each actor has a separate private key for blockchain access, then security and individual accountability are maintained, but collaboration on a single project becomes fragmented and difficult to coordinate
Solution Approach 1:
The patent creates a multi-functional system where the project manager account serves multiple purposes: it maintains security through cryptographic verification of individual promises, enables easy coordination by providing a single point of contact for all project contributions, and tracks overall progress through a unified blockchain entry. This universal account structure allows the system to simultaneously maintain security/accountability and ease of operation, resolving the contradiction between these two requirements.
Data Source
AI summary
A method for combining multiple interactions into a single record entry is disclosed. A data package can be created that represents a set of interactions, and each entity associated with an interaction can review the data package. Each entity can indicate agreement with the interactions by digitally signing the data package. Once signed by each involved entity, the data package can be stored in a record such as a blockchain.