Digital Asset Transfer Using Encrypted Assets and Release Criteria
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Solution Overview
Problem
Current solutions for transferring digital assets, such as cryptographic keys, compromise privacy and do not allow for secure, automatic transfer to designated receivers, and lack the ability to revoke access if necessary.
Innovation Solution
A method involving a server that receives an encrypted digital asset and release criteria from the owner, provides a decryption key to the designated receiver, and transfers the asset upon meeting predefined criteria, ensuring the receiver's identity and activity are verified, and allowing for revocation of access.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If digital assets are shared with designated receivers using current solutions, then the receiver can access the asset, but the owner's privacy is compromised as the receiver can view the data before transfer criteria are met
Solution Approach 1:
The system performs preliminary actions by encrypting the digital asset with the owner's public key and storing it on the server before the transfer criteria are met. The receiver is given only a decryption key, not the asset itself, so they cannot view the data prematurely. This preliminary encryption and selective key distribution resolves the contradiction by enabling future access while preserving current privacy.
Solution Approach 2:
The server acts as an intermediary that holds the encrypted digital asset and facilitates the transfer process. It verifies transfer criteria (such as death certification) and releases the decryption key to the receiver only when conditions are met. This intermediary mechanism prevents direct access for the receiver while ensuring controlled transfer, thus maintaining privacy until the appropriate moment.
2Reliability
If a trusted third party holds the digital asset or decryption key, then transfer can be controlled, but the service can gain access to owner personal data if it becomes rogue or hacked
Solution Approach 1:
The system extracts the decryption key from the trusted third party's control and gives it directly to the receiver. The server only holds the encrypted asset and verification logic, not the decryption key itself. This extraction eliminates the risk of the third party misusing the key while maintaining controlled transfer through server-verified criteria checking.
Solution Approach 2:
The owner performs preliminary action by encrypting the asset with their own key pair and distributing only the decryption key to the receiver. The trusted third party never possesses the decryption key, only the ability to verify transfer conditions. This preliminary key distribution architecture prevents the third party from accessing personal data while maintaining transfer control.
3Productivity
If digital assets are transferred immediately upon meeting transfer criteria, then automatic transfer is achieved, but there is no mechanism for digital legacy transfer in case of death or other contingencies
Solution Approach 1:
The system implements dynamic transfer criteria that can adapt to different scenarios. The owner can specify various conditions for transfer (time-based delays, death certification, other contingencies) rather than immediate transfer. The server dynamically evaluates these criteria and triggers transfer only when appropriate, enabling both speedy automatic transfer when conditions are met and flexible legacy transfer for various contingencies.
4Ease of operation
If current sharing solutions are used, then the receiver can access the asset, but the receiver cannot be revoked once access is granted
Solution Approach 1:
The server implements feedback mechanisms by continuously monitoring owner status and transfer criteria. If the owner revokes access before transfer criteria are met, the server receives this feedback and prevents the transfer by not releasing the decryption key. This feedback loop enables dynamic control of access rights while maintaining receiver accessibility when conditions are appropriate.
Data Source
AI summary
A method for digital asset transfer between an owner of the digital asset and a designated receiver is provided. The digital asset transfer can involve receiving from the owner of the digital asset an encrypted digital asset, wherein the encrypted digital asset is encrypted by a cryptographic key and a release criteria, upon which the owner of the encrypted digital asset is to transfer the encrypted digital asset. A decryption key can be received to decrypt the encrypted digital asset, wherein the decryption key is received from the owner of the encrypted digital asset, and wherein the decryption key corresponds to the cryptographic key. When the release criteria is met, the encrypted digital asset can be sent to the designated receiver.