ESCROW SYSTEM AND TRANSACTION METHOD
It is provided the technology to ensure the execution of proper transactions. One aspect of the present disclosure is an escrow system that includes a group of nodes and a blockchain network that connects each node of the group of nodes. In the escrow system, an escrow node sets, with respect to a t...
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| creator | FUJIMOTO, Shinichirou |
| description | It is provided the technology to ensure the execution of proper transactions. One aspect of the present disclosure is an escrow system that includes a group of nodes and a blockchain network that connects each node of the group of nodes. In the escrow system, an escrow node sets, with respect to a transaction relating to a product or a service between a user and a first node, a multi-signature address between the first node and the escrow node in the blockchain network. The first node, in response to a completion notification of payment of a cost relating to the transaction by the user to the escrow node, executes the transaction and transmits a signature and a fulfillment notification of the transaction to the multi-signature address. The escrow node, in response to an execution of the transaction by the first node, transmits a signature and a fulfillment notification of the transaction to the multi-signature address. The first node, in response to the signature and the fulfillment notification of the transaction from the first node and the escrow node to the multi-signature address, receives a payment notification of the cost. |
| format | Patent |
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One aspect of the present disclosure is an escrow system that includes a group of nodes and a blockchain network that connects each node of the group of nodes. In the escrow system, an escrow node sets, with respect to a transaction relating to a product or a service between a user and a first node, a multi-signature address between the first node and the escrow node in the blockchain network. The first node, in response to a completion notification of payment of a cost relating to the transaction by the user to the escrow node, executes the transaction and transmits a signature and a fulfillment notification of the transaction to the multi-signature address. The escrow node, in response to an execution of the transaction by the first node, transmits a signature and a fulfillment notification of the transaction to the multi-signature address. 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One aspect of the present disclosure is an escrow system that includes a group of nodes and a blockchain network that connects each node of the group of nodes. In the escrow system, an escrow node sets, with respect to a transaction relating to a product or a service between a user and a first node, a multi-signature address between the first node and the escrow node in the blockchain network. The first node, in response to a completion notification of payment of a cost relating to the transaction by the user to the escrow node, executes the transaction and transmits a signature and a fulfillment notification of the transaction to the multi-signature address. The escrow node, in response to an execution of the transaction by the first node, transmits a signature and a fulfillment notification of the transaction to the multi-signature address. The first node, in response to the signature and the fulfillment notification of the transaction from the first node and the escrow node to the multi-signature address, receives a payment notification of the cost.</abstract><oa>free_for_read</oa></addata></record> |
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| subjects | CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR |
| title | ESCROW SYSTEM AND TRANSACTION METHOD |
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