Distributed Ledger Transaction Verification via Cryptographic Attestation
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Solution Overview
Problem
Current systems face challenges in securely validating and recording transactions, particularly in preventing fraud and misuse of customer information, as existing methods rely on GPS and signature proofs that can be manipulated or forged, leading to issues with transaction authenticity and privacy.
Innovation Solution
The implementation of a method to create a verifiable record of transactions on a distributed ledger using secured representations of distributed ledger addresses, hiding the identities of the parties involved and transaction location, ensuring only approved parties can validate and review transactions, thereby maintaining privacy and security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If GPS and signature proofs are used to validate transactions, then transaction verification can be performed, but the system becomes vulnerable to fraud and manipulation
Solution Approach 1:
The patent introduces a distributed ledger as an intermediary that mediates transaction verification. Instead of relying on GPS and signature proofs that can be manipulated, the system uses a decentralized ledger where multiple nodes collectively verify and record transactions. This intermediary layer eliminates the need for trusted third parties while preventing fraud through cryptographic verification and distributed consensus, directly resolving the contradiction between verification reliability and fraud vulnerability.
Solution Approach 2:
The patent replaces mechanical verification methods (GPS location tracking, physical signature collection) with cryptographic and distributed systems. Transaction verification transitions from relying on manipulable physical evidence to immutable cryptographic proofs stored across a distributed network. This substitution eliminates the inherent vulnerabilities of mechanical systems while maintaining verification capabilities, addressing the contradiction between reliability and security.
2Reliability
If transaction details including party identities are recorded on a distributed ledger, then transaction transparency and verifiability are improved, but privacy of the parties is compromised
Solution Approach 1:
The patent segments transaction data into distinct components: identifying information (public keys, addresses) is recorded on the distributed ledger for verification purposes, while sensitive personal information (names, social security numbers, detailed personal identifiers) is kept off-chain in encrypted form or omitted entirely. This segmentation allows the system to maintain transaction verifiability through public key cryptography while preserving privacy by not exposing sensitive personal data on the public ledger.
Solution Approach 2:
The patent uses cryptographic hashes and digital signatures as copies that preserve verification functionality without exposing original sensitive data. Instead of recording actual party identities on the ledger, the system records cryptographic representations (hashes of transaction data, digital signatures) that can be verified by anyone but cannot be reverse-engineered to reveal personal information. This copying approach maintains transparency and verifiability while protecting privacy.
Data Source
AI summary
Some implementations of the disclosure are directed to: receiving an encrypted message from an entity, the encrypted message including a request to determine if a claimant of a distributed attestation is a holder of the distributed attestation; decrypting the encrypted message; using at least a public key of the entity to determine whether the entity is authorized to obtain information about the distributed attestation; and if the entity is authorized to obtain information about the distributed attestation, transmitting a response message to the entity indicating if the claimant of the distributed attestation is the holder of the distributed attestation. Authorization of the entity to obtain information about the distributed attestation may be based on role based access control rights to obtain information about the distributed attestation.