US20210035096A1 - Stored value smart contracts on a blockchain - Google Patents

Abstract

Technologies are shown for managing stored value on a blockchain involving creating a stored value contract block on a blockchain having an identifier of a first entity and code for transferring a portion of a stored value to a designated party. Funds data is stored to the blockchain indicating the stored value committed to the stored value contract block by the first entity. Code is invoked with an identifier of a second entity to transfer a portion of the stored value to the second entity. Some examples involve an intermediary entity verifying conditions defined in the stored value contract block in order to complete transfer. Other examples involve an intermediary entity monitoring conditions in order to initiate transfer when the conditions are satisfied.

Description

CROSS REFERENCE TO RELATED APPLICATIONS
• This application is a continuation of U.S. application Ser. No. 16/181,814 for “Stored Value Smart Contracts on a Blockchain” filed Nov. 6, 2018, which claims the benefit of U.S. Provisional Patent Application No. 62/612,091 for “Enhanced Distributed Database and Data Communications Operations” filed Dec. 29, 2017, both are herein incorporated by reference in their entirety for all purposes.
BACKGROUND
• Traditional transactions, such as installment plans or bonds, often require periodic or scheduled payments in accordance with the transaction conditions, which typically set forth the amount and timing of payments from a buyer or debtor to a seller or creditor. These transactions normally rely on the good faith and financial stability of the buyer or debtor. The possibility of a default, e.g. a failure to pay by the buyer or debtor, can result in terms that require an overall higher amount to be paid by to the seller or creditor in order to compensate for the risk of default. Also, these transactions normally require that the seller or creditor be known and identified within a contract for a transaction.
• Current e-commerce or e-tailing platforms generally do not provide effective and readily usable approaches for executing contracts based on the conditions of the contracts in a manner that allows for safe and traceable scheduled payments between parties. Further, the contracts themselves and the manner in which the contracts and transaction under the contracts are often not transparent to parties to the contracts or to other parties that may have an interest in a history of transactions under a contract or the manner in which a contract is manage.
• It is with respect to these and other considerations that the disclosure made herein is presented.
SUMMARY
• The disclosed technology is directed toward managing stored value on a secure blockchain, e.g. the ETHERIUM blockchain, that provides a traceable, recallable, and non-volatile system for managing stored value and stored value smart contract code on a secure blockchain. Smart contracts are programs with code that can be executed on a blockchain platform and allow logic to be introduced on top of a transaction.
• Technologies are disclosed herein for managing stored value on a blockchain, where a stored value block owned by a first party is generated on the blockchain and the first party is set as a holder of the stored value block. The stored value block includes code that, when invoked, operates to make payment from the first party to a second party in accordance with conditions specified in the stored value smart contract. The stored value, stored value smart contract code, and transaction history can be securely and transparently stored on a blockchain.
• In certain simplified examples of the disclosed technologies, a method, system or computer readable medium for managing stored value on a blockchain involves creating a stored value contract block on a blockchain that includes an identifier for a first entity, such as a buyer entity, and includes code for transferring at least a portion of a stored value to a designated party. To create the stored value on the stored value blockchain, funds data is stored to the blockchain, where the funds data indicates the stored value that is committed to the stored value contract block by the first entity. To transfer value from the stored value, the code for transferring at least a portion of the stored value to a designated party is invoked with an identifier of a second entity, such as a seller entity, to transfer a portion of the stored value to the second entity.
• In some examples where a transfer requires only the buyer's signature on a payment block, the code for transferring at least a portion of the stored value to a designated party involves creating a stored value payment block on the blockchain for the portion of the stored value that identifies the second entity to receive the portion of the stored value and requires a signature of the first entity to release the portion of the stored value, linking the stored value payment block to the stored value block on the blockchain, and signing the stored value payment block to release the portion of the stored value.
• In other examples where a transfer requires verification by an intermediate entity, such as an e-commerce platform, the code for transferring at least a portion of the stored value to a designated party in the stored value contract block includes prompting an intermediary entity to verify the transfer, creating a stored value payment block on the blockchain for the portion of the stored value that identifies the designated party to receive the portion of the stored value and requires a signature of the intermediary entity to release the portion of the stored value, and linking the stored value payment block to the stored value block on the blockchain.
• Some examples can require the signatures of both the buyer entity and the intermediary entity on a payment block, which allows for both buyer entity control over transfers and intermediary verification of the transfers. In other examples, where the intermediate entity verifies compliance with conditions defined in the stored value contract block, the stored value contract block includes one or more terms or conditions for transfer of portion of the stored value and, responsive to the prompting to verify the transfer, the intermediary entity verifies the one or more terms or conditions are satisfied and, if the one or more terms or conditions are satisfied, signs the stored value payment block to release the portion of the stored value.
• In other examples, where an intermediary monitors to detect whether conditions have been met, the stored value contract block includes one or more terms or condition for transfer of a portion of the stored value and the code for transferring at least a portion of the stored value to a designated party in the stored value contract block involves creating a stored value payment block on the blockchain for the portion of the stored value that identifies the designated party to receive the portion of the stored value and requires a signature of the intermediary entity to release the portion of the stored value, and linking the stored value payment block to the stored value block on the blockchain, The intermediary entity monitors the one or more terms or conditions to detect that the one or more terms or conditions are satisfied and, if the terms or conditions are satisfied, the intermediary entity signs the payment block to release the portion of the stored value.
• It should be appreciated that the above-described subject matter may also be implemented as a computer-controlled apparatus, a computer process, a computing system, or as an article of manufacture such as a computer-readable medium. These and various other features will be apparent from a reading of the following Detailed Description and a review of the associated drawings. This Summary is provided to introduce a selection of concepts in a simplified form that are further described below in the Detailed Description.
• This Summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended that this Summary be used to limit the scope of the claimed subject matter. Furthermore, the claimed subject matter is not limited to implementations that solve any or all disadvantages noted in any part of this disclosure.
BRIEF DESCRIPTION OF THE DRAWINGS
• The Detailed Description is described with reference to the accompanying figures. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The same reference numbers in different figures indicate similar or identical items.
• FIG. 1 is an architectural diagram showing an illustrative example of a system for managing stored value on a blockchain;
• FIG. 2A is a data architecture diagram showing an illustrative example of a stored value blockchain securing stored value in stored value blocks on the blockchain;
• FIG. 2B is a data architecture diagram showing another illustrative example of a stored value blockchain where each block on the blockchain stores and controls transfers from the stored value;
• FIG. 3A is a data architecture diagram showing an illustrative example of buyer environment creating a stored value block for storing value and controlling transfers from the stored value according to defined terms;
• FIG. 3B is a data architecture diagram showing an illustrative example of a stored value block on a stored value blockchain that includes code for methods for controlling transfer of stored value maintained on the stored value blockchain;
• FIG. 4A is a control flow diagram showing an illustrative example of a process for a buyer entity to create a stored value block on a stored value blockchain for storing value;
• FIG. 4B is a control flow diagram showing an illustrative example of a process for transferring a portion of the stored value to a seller entity using a stored value block on a stored value blockchain;
• FIG. 4C is a control flow diagram illustrating an example of a process for transferring a portion of the stored value to a seller entity using a stored value block on a stored value blockchain involving an intermediary entity;
• FIG. 4D is a control flow diagram illustrating another example of a process for transferring a portion of the stored value to a seller entity using a stored value block on a stored value blockchain under control of an intermediary entity;
• FIG. 4E is a control flow diagram illustrating still another example of a process for transferring a portion of the stored value to a seller entity using a stored value block on a stored value blockchain involving an intermediary entity;
• FIG. 4F is a control flow diagram illustrating an example of a validation process for blocks added to the stored value blockchain distributed to untrusted nodes;
• FIG. 5 is a data architecture diagram showing an illustrative example of a user using an application programming interface to manage stored value on a stored value blockchain;
• FIG. 6A is a data architecture diagram illustrating a simplified example of a blockchain ledger based on the stored value blocks of the stored value blockchain ofFIG. 1;
• FIG. 6B is a data architecture diagram showing an illustrative example of smart contract code, transactions and messages that are bundled into a block so that their integrity is cryptographically secure and so that they may be appended to a blockchain ledger;
• FIG. 7 is a computer architecture diagram illustrating an illustrative computer hardware and software architecture for a computing system capable of implementing aspects of the techniques and technologies presented herein;
• FIG. 8 is a diagram illustrating a distributed computing environment capable of implementing aspects of the techniques and technologies presented herein; and
• FIG. 9 is a computer architecture diagram illustrating a computing device architecture for a computing device capable of implementing aspects of the techniques and technologies presented herein.
DETAILED DESCRIPTION
• Conventional contracts are often fraught with delinquencies and defaults between a seller and buyer. In the context of e-commerce or e-tailing, it is sometimes advantageous to avoid such issues by storing a selected value on a smart contract that is accessed by the seller according to the conditions of the installment plan as memorialized in and controlled by the smart contract. The stored value of the smart contract can be deployed in other contexts outside of defined installment payment plans including but not limited to insurance plans/contracts (e.g., subscriptions, surety contracts, indemnity contracts, self-funded health plans, life insurance, etc.), guarantee contracts, deposits, and bail bonds. As between the transacting parties, various incentives and rewards can be offered to use stored value smart contracts including but not limited to price discounts, shipping/handling discounts, and product/service upgrades.
• Specific techniques described herein with regard to stored value smart contracts include: 1) techniques for a blockchain smart contract having stored value for various uses including product/service purchase, insurance, deposits, guaranty contracts, surety, bail bonds and other bonding, 2) techniques for the use of incentives, rewards, and/or favorable transaction terms to incent the use of stored value smart contracts, 3) techniques for mitigating one or more risks associated with installment payment plans (deposits, guaranty, bonds, etc.) using stored value smart contracts, and 4) techniques for use of a third party to validate payment from a stored value smart contract.
• The creditee (e.g., buyer) of a transaction (e.g., installment plan, bond issuer, deposit issuer, etc.) creates a blockchain stored value smart contract representing a required payment that is required according to a selected payment plan having various conditions for the amount and timing of payment between the creditee and creditor (e.g., seller). Payments are operatively made and tracked from the creditee to the creditor in the stored value smart contract on the blockchain according to the set conditions of the payment plan established between the creditee and creditor as defined in the smart contract. In some examples, the creditee and creditor can utilize a third party to verify the continuing timing and amount of any required payments. The disclosed technology supports safe and traceable payments between a creditee and creditor according to a defined payment plan using stored value smart contracts on a blockchain, e.g. the ETHERIUM blockchain.
• The disclosed technology utilizes a blockchain smart contract that can include therein selected restrictions for the transfer of stored value stored on a stored value blockchain. With the use of blockchain smart contracts having transfer restrictions, such as conditions defining a transferee, an amount, timing, entities with control over transfers, and entities that can initiate transfers, entities can efficiently and effectively control stored value on a blockchain leading to the benefit of buyers, sellers, or intermediaries.
• The following Detailed Description describes technologies for a buyer entity to commit funds to establish stored value on a stored value blockchain along with code and conditions governing transfers from the stored value. The disclosed technology utilizing blockchain technology can provide a high level of security and traceability for the stored value, the code controlling transfers, and conditions for transfers.
• In addition, the disclosed technology utilizing blockchain technology can provide a high level of flexibility in defining code and conditions for the transfer. For example, the code and conditions can be configured to provide and support a wide variety of contracts, such as an installment payment contract, a subscription contract, an insurance contract, an indemnity contract, a guarantee contract, a deposit contract, a bail bond contract, an incentive contract, and a pre-paid goods or services contract. The ability to manage stored value in smart contracts in accordance with the disclosed technology may lead more favorable conditions for contracts than may be offered utilizing conventional contracts.
• A stored value blockchain can be established by a buyer entity or by an intermediary entity in concert with a buyer entity. The stored value blockchain can be generated on a private blockchain or the stored value blocks can be generated and linked to an existing blockchain, such as the ETHERIUM blockchain.
• The buyer entity can generate a stored value block that includes the stored value and methods for controlling transfers from the stored value as well as, in some examples, conditions for the transfers. Alternatively, an intermediary entity can generate a stored value block with methods and conditions for controlling transfers for a buyer entity to which the buyer entity commits funds to establish stored value on the stored value blockchain.
• One technical advantage of the disclosed technology is that all or parts of the entity identifying data and data tracing transfers as well as the code and conditions for transfers can be encrypted so that they can only be accessed through the methods of the block. For example, the data and code in the stored value blockchain can be encrypted using a public-private key pair, where a public key for an entity, such as a buyer entity or an intermediary entity, is used to encrypt data and a corresponding private key is used to decrypt data. Thus, identifying data, transfer history, code, conditions can be selectively exposed for transparency purposes or protected for security purposes using the disclosed technology.
• Another technical advantage of the disclosed stored value management technology includes securely maintaining the stored value, transaction history, and code on a blockchain that can be widely accessed through the internet. Thus, the stored value information, transaction, and code can be securely distributed. Still another technical advantage of the disclosed stored value technology is the distributed nature of the blockchain, which prevents an unauthorized entity from modifying or corrupting the stored value and code at any single point.
• Other technical effects other than those mentioned herein can also be realized from implementation of the technologies disclosed herein.
• As will be described in more detail herein, it can be appreciated that implementations of the techniques and technologies described herein may include the use of solid state circuits, digital logic circuits, computer components, and/or software executing on one or more input devices. Signals described herein may include analog and/or digital signals for communicating a changed state of the data file or other information pertaining to the data file.
• While the subject matter described herein is presented in the general context of program modules that execute in conjunction with the execution of an operating system and application programs on a computer system, those skilled in the art will recognize that other implementations may be performed in combination with other types of program modules. Generally, program modules include routines, programs, components, data structures, and other types of structures that perform particular tasks or implement particular abstract data types. Moreover, those skilled in the art will appreciate that the subject matter described herein may be practiced with other computer system configurations, including multiprocessor systems, mainframe computers, microprocessor-based or programmable consumer electronics, minicomputers, hand-held devices, and the like.
• By the use of the technologies described herein, a blockchain is used for managing stored value on the blockchain. In a stored value blockchain, stored value blocks securely store value as well as data for transfers from the stored value in a manner that provides wide access so that the data can be readily accessed by users with network access to the blockchain. The stored value blocks can also store definitions for one or more or conditions required for transfers that are defined by a buyer entity who commits funds for the stored value or an intermediary entity to provide effective and flexible control over transfers from the stored value. For increased transparency, code for controlling transfers from the stored value can be included and secured in the stored value blocks.
• In the following detailed description, references are made to the accompanying drawings that form a part hereof, and in which are shown by way of illustration specific configurations or examples. Referring now to the drawings, in which like numerals represent like elements throughout the several figures, aspects of a computing system, computer-readable storage medium, and computer-implemented methodologies for a stored value blockchain ledger will be described. As will be described in more detail below with respect to the figures, there are a number of applications and services that may embody the functionality and techniques described herein.
• FIG. 1 is an architectural diagram showing an illustrative example of a stored valuemanagement distribution system100 utilizing a storedvalue blockchain140. A stored value blockchain can be utilized to securely maintain stored value and control transfers from the stored value. In the embodiment ofFIG. 1,blockchain140 can be a publicly available blockchain that supports scripting, such the ETHEREUM blockchain, which supports a SOLIDIFY scripting language, or BITCOIN, which supports a scripting language called SCRIPT.
• In this example, abuyer environment110, such as a client device, one or more servers, or remote computing resources, is controlled by a buyer entity that commits a stored value to storedvalue blockchain140. In one example,buyer environment110 initiates storedvalue blockchain140 by creatinggenesis block142A. For a stored value blockchain, genesis data block142A, in this example, includes an identifier for a buyer, e.g. the user ofbuyer environment110, the value stored in the storedvalue blockchain140, and the conditions for payments from the stored value. In other examples, thebuyer environment110 creates a stored value data block that is linked to an existing blockchain, such as the ETHERIUM blockchain.
• In some embodiments, thebuyer environment110 can be replaced by another computing node, such as a computer on a peer-to-peer network, or other computing device.
• In the example ofFIG. 1, the user ofbuyer environment110 provides the stored value funds secured on storedvalue blockchain140. Payments from the stored value onblockchain140 can be made to seller or provider entities, such as sellers or providers supported by client/servers120A,120B or120C. In this example, the client/servers120 can communicate withbuyer environment110,intermediary server112, such as an e-commerce platform, as well as a network of servers forblockchain platform130 that supports and maintainsblockchain140. For example, the ETHERIUM blockchain platform from the ETHERIUM FOUNDATION of Switzerland provides a decentralized, distributed computing platform and operating system that provides scripting functionality.
• In one example,buyer environment110 owns the payment blocks142B-E in storedvalue blockchain140. Eachpayment block142B-E transfers a portion of the stored value to a seller under the conditions of the blocks142. The payment blocks142B-E identify a recipient of the transfer and an amount of the transfer and generally require a signature frombuyer environment110 to release funds committed to theblockchain140. In another example, a signature fromintermediary server112, e.g. an e-commerce platform, is required to release funds committed to theblockchain140. In still another example, signatures from both buyer environment andintermediary server112 are required to release funds committed to theblockchain140.
• In one example, buyer environment controls the blocks142 on storedvalue blockchain140. A payment transaction block that pays funds to a seller entity can require a signature from thebuyer environment110 so that the buyer entity maintains control over release of funds committed to the storedvalue blockchain140.
• In another example,intermediary server112 can control the blocks142 on storedvalue blockchain140. A payment transaction block that pays funds to a seller entity can require a signature from theintermediary server112. Theintermediary server112 maintains control over release of funds committed to thetransaction data blockchain140.
• In still another example, a payment transaction block that pays funds to a seller entity can require a signature from theintermediary server112 and the buyer entity ofbuyer environment110 so that the buyer can retain control over release of funds.
• By securing commitment of stored value funds for the transaction on the blockchain, this approach ensures that the funds for a series of transactions are committed so that the payments are assured to be completed. By providing a mechanism that assures a stored value is committed by the buyer for payments to a seller entity upon signature of the intermediary and/or the buyer entity, this approach can result in lower transaction costs due to low risk of default. This approach can also provide for incentives to be offered to a buyer, such as a discount for the stored value amount based on present value of the future payments or reduced payment amounts. By providing access to the storedvalue blockchain140, this approach can provide full or partial transparency to payments maintained on the blockchain.
• FIG. 2A is a data architecture diagram illustrating a simplified example of a storedvalue blockchain ledger200 based on theblocks142A-E of the storedvalue blockchain ledger140 ofFIG. 1. The storedvalue blockchain ledger200 example ofFIG. 2A is simplified to show block headers, metadata and signatures ofblocks210A-E in order to demonstrate storage of stored value and payments from the stored value using a blockchain. In outline, a blockchain ledger may be a globally shared transactional database. Signatures can, in some examples, involve all or part of the data stored in the data theblocks142A-E and can also involve public key addresses corresponding to entities involved in a payment transaction, e.g. a buyer entity, a seller entity, or an intermediary entity.
• Theblockchain ledger200 may be arranged as a Merkle tree data structure, as a linked list, or as any similar data structure that allows for cryptographic integrity. Theblockchain ledger200 allows for verification that the transaction data has not been corrupted or tampered with because any attempt to tamper will change a Message Authentication Code (or has) of a block, and other blocks pointing to that block will be out of correspondence. In one embodiment ofFIG. 2A, each block may point to another block. Each block may include a pointer to the other block, and a hash (or Message Authentication Code function) of the other block.
• Each block in the blockchain ledger may optionally contain a proof data field. The proof data field may indicate a reward that is due. The proof may be a proof of work, a proof of stake, a proof of research, or any other data field indicating a reward is due. For example, a proof of work may indicate that computational work was performed. As another example, a proof of stake may indicate that an amount of cryptocurrency has been held for a certain amount of time. For example, if 10 units of cryptocurrency have been held for 10 days, a proof of stake may indicate 10*10=100 time units have accrued. A proof of research may indicate that research has been performed. In one example, a proof of research may indicate that a certain amount of computational work has been performed—such as exploring whether molecules interact a certain way during a computational search for an efficacious drug compound.
• The blocks210 of storedvalue blockchain200 in the example ofFIG. 2A shows securing a stored value in a genesis stored value block on the blockchain. In one example,buyer environment110 ofFIG. 1 creates genesis stored value block identifying the buyer as the owner with stored_value1 along with conditions for payment from the stored_value1 secured on the blockchain. Thebuyer environment110 commits stored_value1 and signs thegenesis block210A and the blockchain system within which blockchain200 is created verifies the genesis data block based on a proof function.
• Note that a variety of approaches may be utilized that remain consistent with the disclosed technology. In some examples relating to payments, the user ofbuyer environment110 is a required entity or the only entity permitted to verify or validate payment blocks142 on the blockchain. In other examples, an intermediary entity, such as an e-commerce platform, can verify or validate payment blocks.
• In the example ofFIG. 2A, transaction data, such as a public key or other identifier for a seller, is stored in the stored value blocks142. In the example ofFIG. 2A,buyer environment110 creates storedvalue genesis block210A, which is owned by the buyer and stores a value committed to the blockchain by the buyer, e.g. stored_value1, along with data and code defining conditions for payment. In this example,buyer environment110 creates storedvalue payment block210B to transfer a portion of stored_value1 e.g. trans_value2, to a seller, e.g. seller_ID2, and links block210B to block210A. Thebuyer environment110 signs storedvalue payment block210B and commits block210B to blockchain200 for verification by the blockchain platform. Similarly, subsequent payment transactions result in additional stored value payment blocks210C-E being created and linked to storedvalue blockchain200.
• Note that in some examples,intermediary server112 can create the stored value blocks210. For example,intermediary server112 creates storedvalue payment block210B based on term and conditions defined in storedvalue genesis block210A. One possible scenario is a defined payment to a specified entity on a defined schedule, e.g. pay seller_ID2 $100 on the first of each month.Intermediate server112 monitors the date and transfers $100 from the stored value committed by buyer_ID1 to the storedvalue blockchain200 when it detects that the date is the first of the month.
• FIG. 2B is a data architecture diagram showing another illustrative example of a storedvalue blockchain240, where the stored value blocks242 track stored value committed to a storedvalue blockchain240. Storedvalue genesis block242A identifies the owner as buyer_ID1, indicates the amount of stored value stored_value1, payment_req is initially set to FALSE, and, in this example, conditions A, B and C are defined for the contract to transfer a portion of the stored value to a transferee. In this example, storedvalue genesis block242A is signed by the buyer buyer_ID1.
• When a transfer payment is to be executed, such as responsive to a request to pay from buyer_ID1 or instructions to pay by the intermediary entity, storedvalue payment block242B is created that identifies a transferee of the payment and an amount of the payment. In this example, a payment of trans_value2 is to be made to seller_ID2. The amount to be transferred and the transferee can, for example, be defined in the request or instruction or defined in the conditions conds(A, B, C) defined in storedvalue genesis block242A.
• In this example, a signature from the intermediary entity is required to transfer the funds to seller_ID2, which provides for an intermediary to maintain control over the payments. For example, where the intermediate entity monitors the conditions defined inblocks242 and initiates payment when the conditions are satisfied, only the signature of the intermediary entity is required. Other variations are possible without departing from the teaching of the disclosed technology.
• A stored value blockchain, such asblockchain140 inFIG. 1 orblockchain240 inFIG. 2B, enables stored value to be securely stored on a blockchain and transfers from the stored value managed and tracked.FIG. 3A is a data architecture diagram showing two simplified illustrative examples of the use of a stored value blockchain for securely managing stored value.
• Storedvalue genesis block242A, as illustrated in this example, shows an initial state of the block when initially created bybuyer environment110 at302. Storedvalue genesis block242A identifies the owner as buyer_ID1, indicates the amount stored as stored_value1, initializes the payment required field payment_req to FALSE, and defines a set of conditions conds(A, B, C) that apply to transfers from the stored value.
• In one example, at304,buyer environment110 creates storedvalue payment block242B that identifies a transferee for the payment as seller_ID2, the amount of the transfer as trans_value2, and sets the payment_req flag to TRUE. If the conditions of the payment are satisfied, an intermediary signs the block with Intermediary signature2, at304, to transfer the trans_value2 amount to seller_ID2 at310.
• In another example, predicated on transfers requiring an intermediary entity to verify at least one condition of the conds(A, B, C) is satisfied in order to complete a transfer. Setting the payment_req flag to TRUE causes intermediary client/server112 to be prompted, at306, to verify that one of the conds(A, B, C) has been satisfied. At308, the intermediate entity verifies the condition has been satisfied and storedvalue payment block242C is created that identifies a transferee for the payment as seller_ID3 and the amount of the transfer as trans_value3. The storedvalue payment block242C is signed with Intermediary signature3 to transfer amount trans_value3 to seller_ID3 at314.
• For example, the stored value blocks are configured such that buyer_ID1 can identify a transferee and a transfer amount and set payment_req to TRUE. The intermediary entity is prompted to verify conds(A, B, C) at306 and, if the terms are satisfied, sign the stored value payment block at308 to transfer the funds.
• In another example, intermediary client/server112 can monitor conds(A, B, C) and make a transfer payment when the terms are satisfied. For example, the terms can identify a seller to receive a defined payment amount on a defined payment schedule, e.g. a subscription or payment plan.
• In another variation, the stored value blocks are configured such that a seller entity can request a transfer and the intermediary entity is prompted to verify the conds(A, B, C) are satisfied in order to make the transfer.
• It will be appreciated that the disclosed technology provides the flexibility in configuring the stored value blocks to implement a wide variety of scenarios as desired for particular applications without departing from the teachings of the disclosed technology. The disclosed technology enables a stored value to be securely managed on the storedvalue blockchain240. Theblockchain240 can be made widely accessible to other entities to confirm the availability of the stored value, view conditions defined for the stored value, and track transfers from the stored value. The blockchain platform supporting the stored value blockchain ensures the integrity of the stored value and its associated ownership, access, as well as the conditions.
• Scripts for payment and verification of the conditions can be secured by the stored value blocks242 of storedvalue blockchain240 and executed by the operating system of the decentralized, distributed blockchain platform.FIG. 3B is a data architecture diagram showing an illustrative example of storedvalue block242 that includes example of a Payment script to initiate payment and a Complete script for initiating third party verification by the intermediary entity. Also shown is aprocess320 in a blockchain environment that creates a storedvalue block242. An example ofblock state322 defined for the storedvalue block242 is also shown.
• In this example, the Distribution script is called by a seller entity to obtain payment of a payment amount. If paymentID.required is set to TRUE and the caller of the script is the seller entity, then the transfer is validated and the transferee is set to the seller. The Complete script is called by a buyer to set payment[id].required to true to obtain third party verification and allow a transfer to occur.
• FIG. 4A is a control flow diagram showing an illustrative example of aprocess400 for creating a stored value block for securely managing stored value on a blockchain in accordance with the disclosed technology. This example involves creating a stored value block, at402, that identifies a buyer entity as owner and includes code for transferring a portion of the stored value. At404, the buyer commits funds to the stored value block that constitute the stored value. At406, the stored value block created at402 is linked to the stored value blockchain and, at408, the block is ciphered and signed by the buyer entity to commit the block to the stored value blockchain, such as storedvalue blockchain140 inFIG. 1 or storedvalue blockchain240 ofFIG. 2B.
• FIG. 4B is a control flow diagram showing an illustrative example of aprocess410 for a buyer entity to initiate transfer of funds to an identified seller entity. At412, code in the stored value block is invoked to determine whether a set of conditions defined in the stored value block is satisfied for transfer of a portion of the stored value to a transferee party that is identified as having satisfied the set of conditions. At413, the set of conditions is checked to determine if the defined conditions are met. If the conditions are not met, then control returns to412. For example, the code can be invoked periodically to check the conditions or the code can be invoked by the buyer entity or a transferee entity to determine whether the conditions are satisfied.
• If the defined conditions are met, then, at414, code is invoked to transfer a portion of the stored value secured by the stored value block to a transferee entity identified as satisfying the defined conditions insteps412 and413. In the example illustrated inFIG. 4B, the transfer involves creating, at416, a stored value payment block with the identified transferee entity as the transferee for a portion of the stored value. At418, the stored value payment block is linked to the stored value blockchain.
• In one example, the buyer entity can define an amount of the portion of stored value to be transferred and identifies the designated party to receive the payment. In another example, an intermediate entity or a blockchain platform supporting the stored value blockchain for the stored value can invoke the code to determine whether the defined conditions are satisfied, the identity of the transferee entity that has satisfied the defined conditions, and, in some examples, the amount of the portion of the stored value to transfer to the transferee entity. The flexibility of the disclosed technology provides for a wide range of other possible variations without departing from the disclosed technology.
• FIG. 4C is a control flow diagram showing another illustrative example of aprocess420 for a buyer entity to initiate transfer of funds to an identified seller entity that includes verification by an intermediary entity. At422, the buyer entity invokes code in the stored value block for transfer of a portion of the stored value to a designated party, where the buyer entity defines an amount of the portion of stored value to be transferred and identifies the designated party to receive the payment. At423, an intermediary entity is prompted to verify whether conditions defined in the stored value block are satisfied. If the intermediary is unable to verify that the defined conditions are satisfied, then control returns, at424, back to423 to again prompt the intermediary.
• If the intermediary is able to verify that the defined conditions are satisfied, then control branches, at424, to426, where a stored value payment block is created with the identified transferee entity as the transferee for the defined portion of the stored value. At428, the stored value payment block is linked to the stored value blockchain. In some examples, the intermediate entity ciphers and signs the stored value payment block to transfer the defined portion to the transferee entity.
• FIG. 4D is a control flow diagram showing another illustrative example of aprocess430 for transfer of funds from the stored value to a seller entity. In this example, at432, a stored value block is created with conditions defined for transfer including an identity of the transferee entity and the amount to be transferred. For example, a particular transferee entity is to be paid a predefined amount on a defined schedule. At434, the stored value block is linked to the stored value blockchain.
• At436, an intermediary entity monitors one or more of the conditions for transfer to determine whether they have been satisfied, e.g. the intermediary entity detects that a payment date has arrived. If the defined conditions are satisfied, then control branches at440 to442, where a stored value payment block is created with the defined transferee entity and defined amount. Alternatively, the amount can be determined by the conditions.
• At446, the stored value payment block is linked to the stored value blockchain. At448, the intermediate entity ciphers and signs the stored value payment block to transfer the defined portion to the transferee. In this example, transfer of the stored value on the blockchain is determined by the conditions defined in the stored value block and transfer takes place under the control of the intermediary entity.
• FIG. 4E is a control flow diagram illustrating an example of process for transfers from the stored value on the blockchain based on the example ofFIG. 3B. At452, in order to make payment from a buyer entity to a seller entity according to a payment plan defined in the conditions of the stored value block, the buyer entity invokes the Payment method to make the required payment with the transferee identified as the seller. At454, if verification of a condition by an intermediate entity is required for payment, control branches to456. At456, an intermediary entity validates the payment as required and sets the block state to make payment, e.g. payment[id].required=TRUE. If the payment is validated, then control branches to458 where the Complete method is invoked to make payment to the seller.
• It should be appreciated that the processes shown for examples and a variety of other approaches may be utilized without departing from the disclosed technology.
• Depending upon the scripting capabilities of the blockchain platform, the data blocks of the stored value blockchain may include more extensive code execution. For example, a stored value management system that involves an intermediary entity or complex conditions may require more extensive code execution capability in the blockchain than a stored value management system that involves only the buyer entity or simple conditions.
• It should be appreciated that the utilization of blockchain technology, such as scripting technology within smart contracts, in this context provides a high degree of flexibility and variation in the configuration of implementations without departing from the teachings of the present disclosure.
• FIG. 5 is a data architecture diagram showing an illustrative example of an interface for accessing a stored value blockchain, such asblockchain140 inFIG. 1,blockchain200 inFIG. 2A,blockchain240 inFIG. 2B, orblockchain240 inFIG. 3A. In this example, stored value blockchain Application Program Interface (API)510 provides an interface to theblockchain platform520 that supports the stored value blockchain. Theblockchain platform520 supports asmart contract522, such as storedvalue block242 inFIG. 3B, which includes scripts524 with code that, when executed by theblockchain platform520, perform operations with respect to the stored value blockchain.
• In the example ofFIG. 5, three scripts are defined insmart contract522. ThePayment script524A andComplete script524B are described above with respect toFIGS. 3B and 4E. An additional script Condso is provided to permit a buyer entity or another entity to define the conditions for the stored value block.
• In the example ofFIG. 5, a buyer entity, e.g. a user of client/server502, sendsComplete request504 through the storedvalue blockchain API510 tosmart contract522 to invoke, at526, theComplete script524B. The Complete script performs as described above to complete transfer of funds to a seller.
Blockchain Ledger Data Structure
• FIG. 6A is a data architecture diagram illustrating a simplified example of ablockchain ledger600 based on theblocks142A-E of the storedvalue blockchain140 ofFIG. 1. Theblockchain ledger600 example ofFIG. 6A is simplified to show block headers, metadata and signatures ofblocks210A-E in order to demonstrate a stored value ledger using a blockchain. In outline, a blockchain ledger may be a globally shared transactional database.
• FIG. 6A is an illustrative example of ablockchain ledger600 with a data tree holding transaction data that is verified using cryptographic techniques. InFIG. 6A, each block610 includes a block header612 with information regarding previous and subsequent blocks and stores a transaction root node614 to a data tree620 holding transactional data. Transaction data may store smart contracts, data related to transactions, or any other data. The elements of smart contracts may also be stored within transaction nodes of the blocks.
• In the example ofFIG. 6A, a Merkle tree620 is used to cryptographically secure the transaction data. For example,Transaction Tx1 node634A ofdata tree620A ofblock610A can be hashed toHash1 node632A,Transaction Tx2 node638A may be hashed toHash2 node636A.Hash1 node632A andHash2 node636A may be hashed toHash12 node630A. A similar subtree may be formed to generateHash34 node640A.Hash12 node630A andHash34 node640A may be hashed toTransaction Root614A hash sorted in thedata block610A. By using a Merkle tree, or any similar data structure, the integrity of the transactions may be checked by verifying the hash is correct.
• FIG. 6B is a data architecture diagram showing an illustrative example of smart contract code, transactions and messages that are bundled into a block so that their integrity is cryptographically secure and so that they may be appended to a blockchain ledger. InFIG. 6B, smart contracts642 are code that executes on a computer. More specifically, the code of a smart contract may be stored in a blockchain ledger and executed by nodes of a distributed blockchain platform at a given time. The result of the smart code execution may be stored in a blockchain ledger. Optionally, a currency may be expended as smart contract code is executed. In the example ofFIG. 6B, smart contracts642 are executed in a virtual machine environment, although this is optional.
• InFIG. 6B, the aspects of smart contracts642 are stored in transaction data nodes in data tree620 in the blocks610 of the blockchain ledger ofFIG. 6A. In the example ofFIG. 6B,Smart Contract642A is stored in data blockTx1 node634A ofdata tree620A inblock610A,Smart Contract642B is stored inTx2 node638A,Contract Account654 associated withSmart Contract642B is stored inTx3 node644A, and External Account is stored inTx4 node648A.
Storage of Smart Contracts and Transaction Data in the Blockchain Ledger
• To ensure the smart contracts are secure and generate secure data, the blockchain ledger must be kept up to date. For example, if a smart contract is created, the code associated with a smart contract must be stored in a secure way. Similarly, when smart contract code executes and generates transaction data, the transaction data must be stored in a secure way.
• In the example ofFIG. 6B, two possible embodiments for maintenance of the blockchain ledger are shown. In one embodiment, untrusted miner nodes (“miners”)680 may be rewarded for solving a cryptographic puzzle and thereby be allowed to append a block to the blockchain. Alternatively, a set of trusted nodes690 may be used to append the next block to the blockchain ledger. Nodes may execute smart contract code, and then one winning node may append the next block to a blockchain ledger.
• Though aspects of the technology disclosed herein resemble a smart contract, in the present techniques, the policy of the contract may determine the way that the blockchain ledger is maintained. For example, the policy may require that the validation or authorization process for blocks on the ledger is determined by a centralized control of a cluster of trusted nodes. In this case, the centralized control may be a trusted node, such asbuyer environment110, authorized to attest and sign the transaction blocks to validate them and validation by miners may not be needed.
• Alternatively, the policy may provide for validation process decided by a decentralized cluster of untrusted nodes. In the situation where the blockchain ledger is distributed to a cluster of untrusted nodes, mining of blocks in the chain may be employed to validate the blockchain ledger.
• Blockchains may use various time-stamping schemes, such as proof-of-work, to serialize changes. Alternate consensus methods include proof-of-stake, proof-of-burn, proof-of-research may also be utilized to serialize changes.
• As noted above, in some examples, a blockchain ledger may be validated by miners to secure the blockchain. In this case, miners may collectively agree on a validation solution to be utilized. However, if a small network is utilized, e.g. private network, then the solution may be a Merkle tree and mining for the validation solution may not be required. When a transaction block is created, e.g. a stored value block142 for storedvalue blockchain140, the block is an unconfirmed and unidentified entity. To be part of the acknowledged “currency”, it may be added to the blockchain, and therefore relates to the concept of a trusted cluster.
• In a trusted cluster, when a stored value block142 is added, every node competes to acknowledge the next “transaction” (e.g. a new stored value block). In one example, the nodes compete to mine and get the lowest hash value: min{previous_hash, contents_hash, random_nonceto_be_guessed}->result. Transaction order is protected by the computational race (faith that no one entity can beat the collective resources of the blockchain network). Mutual authentication parameters are broadcast and acknowledged to prevent double entries in the blockchain.
• Alternatively, by broadcasting the meta-data for authenticating a secure ledger across a restricted network, e.g. only the signed hash is broadcast, the blockchain may reduce the risks that come with data being held centrally. Decentralized consensus makes blockchains suitable for the recording of secure transactions or events. The meta-data, which may contain information related to the data file, may also be ciphered for restricted access so that the meta-data does not disclose information pertaining to the data file.
• The mining process, such as may be used in concert with thevalidation process480 ofFIG. 4F, may be utilized to deter double accounting, overriding or replaying attacks, with the community arrangement on the agreement based on the “good faith” that no single node can control the entire cluster. A working assumption for mining is the existence of equivalent power distribution of honest parties with supremacy over dishonest or compromised ones. Every node or miner in a decentralized system has a copy of the blockchain. No centralized “official” copy exists and no user is “trusted” more than any other. Transactions are broadcast, at482, to the network using software. Mining nodes compete, at484, to compute a validation solution to validate transactions, and then broadcast, at486, the completed block validation to other nodes. Each node adds the block, at488, to its copy of the blockchain with transaction order established by the winning node.
• Note that in a restricted network, stake-holders who are authorized to check or mine for the data file may or may not access the transaction blocks themselves, but would need to have keys to the meta-data (since they are members of the restricted network, and are trusted) to get the details. As keys are applied on data with different data classifications, the stake-holders can be segmented.
• A decentralized blockchain may also use ad-hoc secure message passing and distributed networking. In this example, the stored value blockchain ledger may be different from a conventional blockchain in that there is a centralized clearing house, e.g. authorized central control for validation. Without the mining process, the trusted cluster can be contained in a centralized blockchain instead of a public or democratic blockchain. One way to view this is that a decentralized portion is as “democratic N honest parties” (multiparty honest party is a cryptography concept), and a centralized portion as a “trusted monarchy for blockchain information correction”. For example, there may be advantages to maintaining the data file as centrally authorized and kept offline.
• In some examples, access to a distributed stored value blockchain may be restricted by cryptographic means to be only open to authorized servers. Since the stored value blockchain ledger is distributed, the authorized servers can validate it. A public key may be used as an address on a public blockchain ledger.
• Note that growth of a decentralized blockchain may be accompanied by the risk of node centralization because the computer resources required to operate on bigger data become increasingly expensive.
• The present techniques may involve operations occurring in one or more machines. As used herein, “machine” means physical data-storage and processing hardware programed with instructions to perform specialized computing operations. It is to be understood that two or more different machines may share hardware components. For example, the same integrated circuit may be part of two or more different machines.
• One of ordinary skill in the art will recognize that a wide variety of approaches may be utilized and combined with the present approach involving a stored value blockchain ledger. The specific examples of different aspects of a stored value blockchain ledger described herein are illustrative and are not intended to limit the scope of the techniques shown.
Smart Contracts
• Smart contracts are defined by code. As described previously, the conditions of the smart contract may be encoded (e.g., by hash) into a blockchain ledger. Specifically, smart contracts may be compiled into a bytecode (if executed in a virtual machine), and then the bytecode may be stored in a blockchain ledger as described previously. Similarly, transaction data executed and generated by smart contracts may be stored in the blockchain ledger in the ways previously described.
Computer Architectures for Use of Smart Contracts and Blockchain Ledgers
• Note that at least parts ofprocesses400,410,420,430,450 and480 ofFIGS. 4A, 4B, 4C, 4D, 4E, and 4F, the scripts of stored value block242 ofFIG. 3B,smart contract522 ofFIG. 5, smart contracts642 ofFIG. 6B, and other processes and operations pertaining to a stored value blockchain ledger described herein may be implemented in one or more servers, such ascomputer environment800 inFIG. 8, or the cloud, and data defining the results of user control input signals translated or interpreted as discussed herein may be communicated to a user device for display. Alternatively, the stored value blockchain ledger processes may be implemented in a client device. In still other examples, some operations may be implemented in one set of computing resources, such as servers, and other steps may be implemented in other computing resources, such as a client device.
• It should be understood that the methods described herein can be ended at any time and need not be performed in their entireties. Some or all operations of the methods described herein, and/or substantially equivalent operations, can be performed by execution of computer-readable instructions included on a computer-storage media, as defined below. The term “computer-readable instructions,” and variants thereof, as used in the description and claims, is used expansively herein to include routines, applications, application modules, program modules, programs, components, data structures, algorithms, and the like. Computer-readable instructions can be implemented on various system configurations, including single-processor or multiprocessor systems, minicomputers, mainframe computers, personal computers, hand-held computing devices, microprocessor-based, programmable consumer electronics, combinations thereof, and the like.
• Thus, it should be appreciated that the logical operations described herein are implemented (1) as a sequence of computer implemented acts or program modules running on a computing system and/or (2) as interconnected machine logic circuits or circuit modules within the computing system. The implementation is a matter of choice dependent on the performance and other requirements of the computing system. Accordingly, the logical operations described herein are referred to variously as states, operations, structural devices, acts, or modules. These operations, structural devices, acts, and modules may be implemented in software, in firmware, in special purpose digital logic, and any combination thereof.
• As described herein, in conjunction with the FIGURES described herein, the operations of the routines (e.g. processes400,410,420,430,450 and480 ofFIGS. 4A, 4B, 4C, 4D, 4E, and 4F, the scripts of stored value block242 ofFIG. 3B,smart contract522 ofFIG. 5, smart contracts642 ofFIG. 6B) are described herein as being implemented, at least in part, by an application, component, and/or circuit. Although the following illustration refers to the components ofFIGS. 1, 3B, 4A, 4B, 4C, 4D, 4E, 4F, 5 and 6B, it can be appreciated that the operations of the routines may be also implemented in many other ways. For example, the routines may be implemented, at least in part, by a computer processor or a processor or processors of another computer. In addition, one or more of the operations of the routines may alternatively or additionally be implemented, at least in part, by a computer working alone or in conjunction with other software modules.
• For example, the operations of routines are described herein as being implemented, at least in part, by an application, component and/or circuit, which are generically referred to herein as modules. In some configurations, the modules can be a dynamically linked library (DLL), a statically linked library, functionality produced by an application programing interface (API), a compiled program, an interpreted program, a script or any other executable set of instructions. Data and/or modules, such as the data and modules disclosed herein, can be stored in a data structure in one or more memory components. Data can be retrieved from the data structure by addressing links or references to the data structure.
• Although the following illustration refers to the components of the FIGURES discussed above, it can be appreciated that the operations of the routines (e.g. processes400,410,420,430,450 and480 ofFIGS. 4A, 4B, 4C, 4D, 4E, and 4F, the scripts of stored value block242 ofFIG. 3B,smart contract522 ofFIG. 5, smart contracts642 ofFIG. 6B) may be also implemented in many other ways. For example, the routines may be implemented, at least in part, by a processor of another remote computer or a local computer or circuit. In addition, one or more of the operations of the routines may alternatively or additionally be implemented, at least in part, by a chipset working alone or in conjunction with other software modules. Any service, circuit or application suitable for providing the techniques disclosed herein can be used in operations described herein.
• FIG. 7 shows additional details of anexample computer architecture700 for a computer, such as thedevices110 and120A-C (FIG. 1), capable of executing the program components described herein. Thus, thecomputer architecture700 illustrated inFIG. 7 illustrates an architecture for a server computer, mobile phone, a PDA, a smart phone, a desktop computer, a netbook computer, a tablet computer, an on-board computer, a game console, and/or a laptop computer. Thecomputer architecture700 may be utilized to execute any aspects of the software components presented herein.
• Thecomputer architecture700 illustrated inFIG. 7 includes a central processing unit702 (“CPU”), asystem memory704, including a random access memory706 (“RAM”) and a read-only memory (“ROM”)708, and asystem bus710 that couples thememory704 to theCPU702. A basic input/output system containing the basic routines that help to transfer information between sub-elements within thecomputer architecture700, such as during startup, is stored in theROM708. Thecomputer architecture700 further includes amass storage device712 for storing anoperating system707, data (such as a copy of stored value blockchain data720), and one or more application programs.
• Themass storage device712 is connected to theCPU702 through a mass storage controller (not shown) connected to thebus710. Themass storage device712 and its associated computer-readable media provide non-volatile storage for thecomputer architecture700. Although the description of computer-readable media contained herein refers to a mass storage device, such as a solid-state drive, a hard disk or CD-ROM drive, it should be appreciated by those skilled in the art that computer-readable media can be any available computer storage media or communication media that can be accessed by thecomputer architecture700.
• Communication media includes computer readable instructions, data structures, program modules, or other data in a modulated data signal such as a carrier wave or other transport mechanism and includes any delivery media. The term “modulated data signal” means a signal that has one or more of its characteristics changed or set in a manner so as to encode information in the signal. By way of example, and not limitation, communication media includes wired media such as a wired network or direct-wired connection, and wireless media such as acoustic, RF, infrared and other wireless media. Combinations of any of the above should also be included within the scope of computer-readable media.
• By way of example, and not limitation, computer storage media may include volatile and non-volatile, removable and non-removable media implemented in any method or technology for storage of information such as computer-readable instructions, data structures, program modules or other data. For example, computer media includes, but is not limited to, RAM, ROM, EPROM, EEPROM, flash memory or other solid state memory technology, CD-ROM, digital versatile disks (“DVD”), HD-DVD, BLU-RAY, or other optical storage, magnetic cassettes, magnetic tape, magnetic disk storage or other magnetic storage devices, or any other medium which can be used to store the desired information and which can be accessed by thecomputer architecture700. For purposes the claims, the phrase “computer storage medium,” “computer-readable storage medium” and variations thereof, does not include waves, signals, and/or other transitory and/or intangible communication media, per se.
• According to various configurations, thecomputer architecture700 may operate in a networked environment using logical connections to remote computers through thenetwork756 and/or another network (not shown). Thecomputer architecture700 may connect to thenetwork756 through anetwork interface unit714 connected to thebus710. It should be appreciated that thenetwork interface unit714 also may be utilized to connect to other types of networks and remote computer systems. Thecomputer architecture700 also may include an input/output controller716 for receiving and processing input from a number of other devices, including a keyboard, mouse, game controller, television remote or electronic stylus (not shown inFIG. 7). Similarly, the input/output controller716 may provide output to a display screen, a printer, or other type of output device (also not shown inFIG. 7).
• It should be appreciated that the software components described herein may, when loaded into theCPU702 and executed, transform theCPU702 and theoverall computer architecture700 from a general-purpose computing system into a special-purpose computing system customized to facilitate the functionality presented herein. TheCPU702 may be constructed from any number of transistors or other discrete circuit elements, which may individually or collectively assume any number of states. More specifically, theCPU702 may operate as a finite-state machine, in response to executable instructions contained within the software modules disclosed herein. These computer-executable instructions may transform theCPU702 by specifying how theCPU702 transitions between states, thereby transforming the transistors or other discrete hardware elements constituting theCPU702.
• Encoding the software modules presented herein also may transform the physical structure of the computer-readable media presented herein. The specific transformation of physical structure may depend on various factors, in different implementations of this description. Examples of such factors may include, but are not limited to, the technology used to implement the computer-readable media, whether the computer-readable media is characterized as primary or secondary storage, and the like. For example, if the computer-readable media is implemented as semiconductor-based memory, the software disclosed herein may be encoded on the computer-readable media by transforming the physical state of the semiconductor memory. For example, the software may transform the state of transistors, capacitors, or other discrete circuit elements constituting the semiconductor memory. The software also may transform the physical state of such components in order to store data thereupon.
• As another example, the computer-readable media disclosed herein may be implemented using magnetic or optical technology. In such implementations, the software presented herein may transform the physical state of magnetic or optical media, when the software is encoded therein. These transformations may include altering the magnetic characteristics of particular locations within given magnetic media. These transformations also may include altering the physical features or characteristics of particular locations within given optical media, to change the optical characteristics of those locations. Other transformations of physical media are possible without departing from the scope and spirit of the present description, with the foregoing examples provided only to facilitate this discussion.
• In light of the above, it should be appreciated that many types of physical transformations take place in thecomputer architecture700 in order to store and execute the software components presented herein. It also should be appreciated that thecomputer architecture700 may include other types of computing devices, including hand-held computers, embedded computer systems, personal digital assistants, and other types of computing devices known to those skilled in the art. It is also contemplated that thecomputer architecture700 may not include all of the components shown inFIG. 7, may include other components that are not explicitly shown inFIG. 7, or may utilize an architecture completely different than that shown inFIG. 7.
• FIG. 8 depicts an illustrative distributedcomputing environment800 capable of executing the software components described herein for a stored value blockchain ledger. Thus, the distributedcomputing environment800 illustrated inFIG. 8 can be utilized to execute many aspects of the software components presented herein. For example, the distributedcomputing environment800 can be utilized to execute one or more aspects of the software components described herein. Also, the distributedcomputing environment800 may represent components of the distributed blockchain platform discussed above.
• According to various implementations, the distributedcomputing environment800 includes acomputing environment802 operating on, in communication with, or as part of thenetwork804. Thenetwork804 may be or may include the network556, described above. Thenetwork804 also can include various access networks. One ormore client devices806A-806N (hereinafter referred to collectively and/or generically as “clients806”) can communicate with thecomputing environment802 via thenetwork804 and/or other connections (not illustrated inFIG. 8). In one illustrated configuration, the clients806 include acomputing device806A, such as a laptop computer, a desktop computer, or other computing device; a slate or tablet computing device (“tablet computing device”)806B; amobile computing device806C such as a mobile telephone, a smart phone, an on-board computer, or other mobile computing device; aserver computer806D; and/orother devices806N, which can include a hardware security module. It should be understood that any number of devices806 can communicate with thecomputing environment802. Two example computing architectures for the devices806 are illustrated and described herein with reference toFIGS. 7 and 8. It should be understood that the illustrated devices806 and computing architectures illustrated and described herein are illustrative only and should not be construed as being limited in any way.
• In the illustrated configuration, thecomputing environment802 includesapplication servers808,data storage810, and one or more network interfaces812. According to various implementations, the functionality of theapplication servers808 can be provided by one or more server computers that are executing as part of, or in communication with, thenetwork804. Theapplication servers808 can host various services, virtual machines, portals, and/or other resources. In the illustrated configuration, theapplication servers808 host one or morevirtual machines814 for hosting applications or other functionality. According to various implementations, thevirtual machines814 host one or more applications and/or software modules for a data management blockchain ledger. It should be understood that this configuration is illustrative only and should not be construed as being limiting in any way.
• According to various implementations, theapplication servers808 also include one or more storedvalue management services820 and one ormore blockchain services822. The storedvalue management services820 can include services for managing stored value on a stored value blockchain, such as storedvalue blockchain140 inFIG. 1. Theblockchain services822 can include services for participating in management of one or more blockchains, such as by creating genesis blocks, stored value blocks, and performing validation.
• As shown inFIG. 8, theapplication servers808 also can host other services, applications, portals, and/or other resources (“other resources”)824. Theother resources824 can include, but are not limited to, data encryption, data sharing, or any other functionality.
• As mentioned above, thecomputing environment802 can includedata storage810. According to various implementations, the functionality of thedata storage810 is provided by one or more databases or data stores operating on, or in communication with, thenetwork804. The functionality of thedata storage810 also can be provided by one or more server computers configured to host data for thecomputing environment802. Thedata storage810 can include, host, or provide one or more real orvirtual data stores826A-826N (hereinafter referred to collectively and/or generically as “datastores826”). The datastores826 are configured to host data used or created by theapplication servers808 and/or other data. Aspects of the datastores826 may be associated with services for a stored value blockchain. Although not illustrated inFIG. 8, the datastores826 also can host or store web page documents, word documents, presentation documents, data structures, algorithms for execution by a recommendation engine, and/or other data utilized by any application program or another module.
• Thecomputing environment802 can communicate with, or be accessed by, the network interfaces812. The network interfaces812 can include various types of network hardware and software for supporting communications between two or more computing devices including, but not limited to, the clients806 and theapplication servers808. It should be appreciated that the network interfaces812 also may be utilized to connect to other types of networks and/or computer systems.
• It should be understood that the distributedcomputing environment800 described herein can provide any aspects of the software elements described herein with any number of virtual computing resources and/or other distributed computing functionality that can be configured to execute any aspects of the software components disclosed herein. According to various implementations of the concepts and technologies disclosed herein, the distributedcomputing environment800 may provide the software functionality described herein as a service to the clients using devices806. It should be understood that the devices806 can include real or virtual machines including, but not limited to, server computers, web servers, personal computers, mobile computing devices, smart phones, and/or other devices, which can include user input devices. As such, various configurations of the concepts and technologies disclosed herein enable any device configured to access the distributedcomputing environment800 to utilize the functionality described herein for creating and supporting a stored value blockchain ledger, among other aspects.
• Turning now toFIG. 9, an illustrativecomputing device architecture900 for a computing device that is capable of executing various software components is described herein for a stored value blockchain ledger. Thecomputing device architecture900 is applicable to computing devices that can manage a stored value blockchain ledger. In some configurations, the computing devices include, but are not limited to, mobile telephones, on-board computers, tablet devices, slate devices, portable video game devices, traditional desktop computers, portable computers (e.g., laptops, notebooks, ultra-portables, and netbooks), server computers, game consoles, and other computer systems. Thecomputing device architecture900 is applicable to thebuyer environment110, verification client/server(s)112, and client/servers120A-C shown inFIG. 1 andcomputing device806A-N shown inFIG. 8.
• Thecomputing device architecture900 illustrated inFIG. 9 includes aprocessor902,memory components904,network connectivity components906,sensor components908, input/output components910, andpower components912. In the illustrated configuration, theprocessor902 is in communication with thememory components904, thenetwork connectivity components906, thesensor components908, the input/output (“I/O”)components910, and thepower components912. Although no connections are shown between the individual components illustrated inFIG. 9, the components can interact to carry out device functions. In some configurations, the components are arranged so as to communicate via one or more busses (not shown).
• Theprocessor902 includes a central processing unit (“CPU”) configured to process data, execute computer-executable instructions of one or more application programs, and communicate with other components of thecomputing device architecture900 in order to perform various functionality described herein. Theprocessor902 may be utilized to execute aspects of the software components presented herein and, particularly, those that utilize, at least in part, secure data.
• In some configurations, theprocessor902 includes a graphics processing unit (“GPU”) configured to accelerate operations performed by the CPU, including, but not limited to, operations performed by executing secure computing applications, general-purpose scientific and/or engineering computing applications, as well as graphics-intensive computing applications such as high resolution video (e.g.,620P,1080P, and higher resolution), video games, three-dimensional (“3D”) modeling applications, and the like. In some configurations, theprocessor902 is configured to communicate with a discrete GPU (not shown). In any case, the CPU and GPU may be configured in accordance with a co-processing CPU/GPU computing model, wherein a sequential part of an application executes on the CPU and a computationally-intensive part is accelerated by the GPU.
• In some configurations, theprocessor902 is, or is included in, a system-on-chip (“SoC”) along with one or more of the other components described herein below. For example, the SoC may include theprocessor902, a GPU, one or more of thenetwork connectivity components906, and one or more of thesensor components908. In some configurations, theprocessor902 is fabricated, in part, utilizing a package-on-package (“PoP”) integrated circuit packaging technique. Theprocessor902 may be a single core or multi-core processor.
• Theprocessor902 may be created in accordance with an ARM architecture, available for license from ARM HOLDINGS of Cambridge, United Kingdom. Alternatively, theprocessor902 may be created in accordance with an x86 architecture, such as is available from INTEL CORPORATION of Mountain View, Calif. and others. In some configurations, theprocessor902 is a SNAPDRAGON SoC, available from QUALCOMM of San Diego, Calif., a TEGRA SoC, available from NVIDIA of Santa Clara, Calif., a HUMMINGBIRD SoC, available from SAMSUNG of Seoul, South Korea, an Open Multimedia Application Platform (“OMAP”) SoC, available from TEXAS INSTRUMENTS of Dallas, Tex., a customized version of any of the above SoCs, or a proprietary SoC.
• Thememory components904 include a random access memory (“RAM”)914, a read-only memory (“ROM”)916, an integrated storage memory (“integrated storage”)918, and a removable storage memory (“removable storage”)920. In some configurations, theRAM914 or a portion thereof, theROM916 or a portion thereof, and/or some combination of theRAM914 and theROM916 is integrated in theprocessor902. In some configurations, theROM916 is configured to store a firmware, an operating system or a portion thereof (e.g., operating system kernel), and/or a bootloader to load an operating system kernel from theintegrated storage918 and/or theremovable storage920.
• Theintegrated storage918 can include a solid-state memory, a hard disk, or a combination of solid-state memory and a hard disk. Theintegrated storage918 may be soldered or otherwise connected to a logic board upon which theprocessor902 and other components described herein also may be connected. As such, theintegrated storage918 is integrated in the computing device. Theintegrated storage918 is configured to store an operating system or portions thereof, application programs, data, and other software components described herein.
• Theremovable storage920 can include a solid-state memory, a hard disk, or a combination of solid-state memory and a hard disk. In some configurations, theremovable storage920 is provided in lieu of theintegrated storage918. In other configurations, theremovable storage920 is provided as additional optional storage. In some configurations, theremovable storage920 is logically combined with theintegrated storage918 such that the total available storage is made available as a total combined storage capacity. In some configurations, the total combined capacity of theintegrated storage918 and theremovable storage920 is shown to a user instead of separate storage capacities for theintegrated storage918 and theremovable storage920.
• Theremovable storage920 is configured to be inserted into a removable storage memory slot (not shown) or other mechanism by which theremovable storage920 is inserted and secured to facilitate a connection over which theremovable storage920 can communicate with other components of the computing device, such as theprocessor902. Theremovable storage920 may be embodied in various memory card formats including, but not limited to, PC card, CompactFlash card, memory stick, secure digital (“SD”), miniSD, microSD, universal integrated circuit card (“UICC”) (e.g., a subscriber identity module (“SIM”) or universal SIM (“USIM”)), a proprietary format, or the like.
• It can be understood that one or more of thememory components904 can store an operating system. According to various configurations, the operating system may include, but is not limited to, server operating systems such as various forms of UNIX certified by The Open Group and LINUX certified by the Free Software Foundation, or aspects of Software-as-a-Service (SaaS) architectures, such as MICROSOFT AZURE from Microsoft Corporation of Redmond, Wash. or AWS from Amazon Corporation of Seattle, Wash. The operating system may also include WINDOWS from Microsoft Corporation of Redmond, Wash., MAC OS or IOS from Apple Inc. of Cupertino, Calif., and ANDROID OS from Google Inc. of Mountain View, Calif. Other operating systems are contemplated.
• Thenetwork connectivity components906 include a wireless wide area network component (“WWAN component”)922, a wireless local area network component (“WLAN component”)924, and a wireless personal area network component (“WPAN component”)926. Thenetwork connectivity components906 facilitate communications to and from thenetwork956 or another network, which may be a WWAN, a WLAN, or a WPAN. Although only thenetwork956 is illustrated, thenetwork connectivity components906 may facilitate simultaneous communication with multiple networks, including thenetwork956 ofFIG. 9. For example, thenetwork connectivity components906 may facilitate simultaneous communications with multiple networks via one or more of a WWAN, a WLAN, or a WPAN.
• Thenetwork956 may be or may include a WWAN, such as a mobile telecommunications network utilizing one or more mobile telecommunications technologies to provide voice and/or data services to a computing device utilizing thecomputing device architecture900 via theWWAN component922. The mobile telecommunications technologies can include, but are not limited to, Global System for Mobile communications (“GSM”), Code Division Multiple Access (“CDMA”) ONE, CDMA7000, Universal Mobile Telecommunications System (“UMTS”), Long Term Evolution (“LTE”), and Worldwide Interoperability for Microwave Access (“WiMAX”). Moreover, thenetwork956 may utilize various channel access methods (which may or may not be used by the aforementioned standards) including, but not limited to, Time Division Multiple Access (“TDMA”), Frequency Division Multiple Access (“FDMA”), CDMA, wideband CDMA (“W-CDMA”), Orthogonal Frequency Division Multiplexing (“OFDM”), Space Division Multiple Access (“SDMA”), and the like. Data communications may be provided using General Packet Radio Service (“GPRS”), Enhanced Data rates for Global Evolution (“EDGE”), the High-Speed Packet Access (“HSPA”) protocol family including High-Speed Downlink Packet Access (“HSDPA”), Enhanced Uplink (“EUL”) or otherwise termed High-Speed Uplink Packet Access (“HSUPA”), Evolved HSPA (“HSPA+”), LTE, and various other current and future wireless data access standards. Thenetwork956 may be configured to provide voice and/or data communications with any combination of the above technologies. Thenetwork956 may be configured to or be adapted to provide voice and/or data communications in accordance with future generation technologies.
• In some configurations, theWWAN component922 is configured to provide dual-multi-mode connectivity to thenetwork956. For example, theWWAN component922 may be configured to provide connectivity to thenetwork956, wherein thenetwork956 provides service via GSM and UMTS technologies, or via some other combination of technologies. Alternatively,multiple WWAN components922 may be utilized to perform such functionality, and/or provide additional functionality to support other non-compatible technologies (i.e., incapable of being supported by a single WWAN component). TheWWAN component922 may facilitate similar connectivity to multiple networks (e.g., a UMTS network and an LTE network).
• Thenetwork956 may be a WLAN operating in accordance with one or more Institute of Electrical and Electronic Engineers (“IEEE”) 802.11 standards, such as IEEE 802.11a, 802.11b, 802.11g, 802.11n, and/or future 802.11 standard (referred to herein collectively as WI-FI). Draft 802.11 standards are also contemplated. In some configurations, the WLAN is implemented utilizing one or more wireless WI-FI access points. In some configurations, one or more of the wireless WI-FI access points are another computing device with connectivity to a WWAN that are functioning as a WI-FI hotspot. TheWLAN component924 is configured to connect to thenetwork956 via the WI-FI access points. Such connections may be secured via various encryption technologies including, but not limited to, WI-FI Protected Access (“WPA”), WPA2, Wired Equivalent Privacy (“WEP”), and the like.
• Thenetwork956 may be a WPAN operating in accordance with Infrared Data Association (“IrDA”), BLUETOOTH, wireless Universal Serial Bus (“USB”), Z-Wave, ZIGBEE, or some other short-range wireless technology. In some configurations, theWPAN component926 is configured to facilitate communications with other devices, such as peripherals, computers, or other computing devices via the WPAN.
• Thesensor components908 include amagnetometer928, an ambientlight sensor930, aproximity sensor932, anaccelerometer934, agyroscope936, and a Global Positioning System sensor (“GPS sensor”)938. It is contemplated that other sensors, such as, but not limited to, temperature sensors or shock detection sensors, also may be incorporated in thecomputing device architecture900.
• The I/O components910 include adisplay940, atouchscreen942, a data I/O interface component (“data I/O”)944, an audio I/O interface component (“audio I/O”)946, a video I/O interface component (“video I/O”)948, and acamera950. In some configurations, thedisplay940 and thetouchscreen942 are combined. In some configurations two or more of the data I/O component944, the audio I/O component946, and the video I/O component948 are combined. The I/O components910 may include discrete processors configured to support the various interfaces described below or may include processing functionality built-in to theprocessor902.
• The illustratedpower components912 include one ormore batteries952, which can be connected to abattery gauge954. Thebatteries952 may be rechargeable or disposable. Rechargeable battery types include, but are not limited to, lithium polymer, lithium ion, nickel cadmium, and nickel metal hydride. Each of thebatteries952 may be made of one or more cells.
• Thepower components912 may also include a power connector, which may be combined with one or more of the aforementioned I/O components910. Thepower components912 may interface with an external power system or charging equipment via an I/O component.
Examples of Various Implementations
• In closing, although the various configurations have been described in language specific to structural features and/or methodological acts, it is to be understood that the subject matter defined in the appended representations is not necessarily limited to the specific features or acts described. Rather, the specific features and acts are disclosed as example forms of implementing the claimed subject matter.
• The present disclosure is made in light of the following examples:
• Example 1. A computer-implemented method for managing stored value on a blockchain, where the method includes: creating a stored value contract block on a blockchain, the stored value contract block storing an identifier of a first entity and including: a set of conditions defining when at least a portion of a stored value is to be released, code for determining that the set of conditions is satisfied and identifying a transferee entity that has satisfied the set of conditions, and code for transferring at least a portion of the stored value to the identified transferee entity; and storing funds data to the blockchain, the funds data indicating the stored value that is committed to the stored value contract block by the first entity.
• Example 2. The computer-implemented method of Example 1, the method including: invoking the code for determining when the set of conditions is satisfied and identifying a transferee entity that has satisfied the set of conditions; determining that a second entity has satisfied the set of conditions and identifying the second entity as the transferee entity that has satisfied the set of conditions; and transferring the portion of the stored value to the second entity.
• Example 3. The computer-implemented method of Example 2, where: the code for determining when the set of conditions is satisfied includes code for prompting an intermediary entity to verify that at least one condition of the set of conditions is satisfied; and the code for transferring the portion of the stored value to the second entity includes code for: responsive to verification from the intermediary entity that the one condition of the set of conditions is satisfied, creating a stored value payment block on the blockchain for transferring the portion of the stored value to the transferee entity identified as having satisfied the set of conditions, and linking the stored value payment block to the stored value block on the blockchain.
• Example 4. The computer-implemented method of Example 3, where the stored value payment block on the blockchain requires the signature of the intermediary to release the portion of the stored value.
• Example 5. The computer-implemented method of Example 4, where: responsive to the prompting to verify the transfer, the intermediary entity verifies that the one condition of the set of conditions is satisfied; and signs the stored value payment block to release the portion of the stored value.
• Example 6. The computer-implemented method of Example 1, where: the method includes creating a stored value payment block on the blockchain for transferring the portion of the stored value that requires a signature of an intermediary entity to release the portion of the stored value; linking the stored value payment block to the stored value block on the blockchain; in the intermediary entity, monitoring at least one condition of the set of conditions to detect that the set of conditions is satisfied and, when the one condition of the set of conditions is satisfied, verifying that the one condition of the set of conditions is satisfied and signing the stored value payment block; and the code for determining when the set of conditions is satisfied includes code for including the verification from the intermediary entity that the one condition of the set of conditions is satisfied in determining that the set of conditions is satisfied.
• Example 7. The computer-implemented method of Example 1, where the set of conditions in the stored value contract block comprise conditions for one of an installment payment contract, a subscription contract, an insurance contract, an indemnity contract, a guarantee contract, a deposit contract, a bail bond contract, an incentive contract, and a pre-paid goods or services contract.
• Example 8. A system for managing stored value on a blockchain, the system comprising: one or more processors; and one or more memory devices in communication with the one or more processors, the memory devices having computer-readable instructions stored thereupon that, when executed by the processors, cause the processors to execute operations for: creating a stored value contract block on a blockchain, the stored value contract block storing an identifier of a first entity and including: a set of conditions defining when at least a portion of a stored value is to be released, code for determining that the set of conditions is satisfied and identifying a transferee entity that has satisfied the set of conditions, and code for transferring at least a portion of the stored value to the identified transferee entity; and storing funds data to the blockchain, the funds data indicating the stored value that is committed to the stored value contract block by the first entity.
• Example 9. The system of Example 8, where the memory devices further include instructions for: invoking the code for determining when the set of conditions is satisfied and identifying a transferee entity that has satisfied the set of conditions; determining that a second entity has satisfied the set of conditions and identifying the second entity as the transferee entity that has satisfied the set of conditions; and transferring the portion of the stored value to the second entity.
• Example 10. The system of Example 9, where: the code for determining when the set of conditions is satisfied includes code for prompting an intermediary entity to verify that at least one condition of the set of conditions is satisfied; and the code for transferring the portion of the stored value to the second entity includes code for: responsive to verification from the intermediary entity that the one condition of the set of conditions is satisfied, creating a stored value payment block on the blockchain for transferring the portion of the stored value to the transferee entity identified as having satisfied the set of conditions, and linking the stored value payment block to the stored value block on the blockchain.
• Example 11. The system of Example 10, where the stored value payment block on the blockchain requires the signature of the intermediary to release the portion of the stored value.
• Example 12. The system of Example 11, where: responsive to the prompting to verify the transfer, the intermediary entity verifies that the one condition of the set of conditions is satisfied; and signs the stored value payment block to release the portion of the stored value.
• Example 13. The system of Example 8, where: the one or more storage devices include instructions for creating a stored value payment block on the blockchain for transferring the portion of the stored value that requires a signature of an intermediary entity to release the portion of the stored value; linking the stored value payment block to the stored value block on the blockchain; in the intermediary entity, monitoring at least one condition of the set of conditions to detect that the set of conditions is satisfied and, when the one condition of the set of conditions is satisfied, verifying that the one condition of the set of conditions is satisfied and signing the stored value payment block; and the code for determining when the set of conditions is satisfied includes code for including the verification from the intermediary entity that the one condition of the set of conditions is satisfied in determining that the set of conditions is satisfied.
• Example 14. The system of Example 13, where the set of conditions in the stored value contract block comprises at least one of an installment payment contract, a subscription contract, an insurance contract, an indemnity contract, a guarantee contract, a deposit contract, a bail bond contract, an incentive contract, and a pre-paid goods or services contract.
• Example 15. One or more computer storage media having computer executable instructions stored thereon which, when executed by one or more processors, cause the processors to execute operations for managing stored value on a blockchain comprising: creating a stored value contract block on a blockchain, the stored value contract block storing an identifier of a first entity and including: a set of conditions defining when at least a portion of a stored value is to be released, code for determining that the set of conditions is satisfied and identifying a transferee entity that has satisfied the set of conditions, and code for transferring at least a portion of the stored value to the identified transferee entity; and storing funds data to the blockchain, the funds data indicating the stored value that is committed to the stored value contract block by the first entity.
• Example 16. The computer storage media of Example 15, the media further including instructions for: invoking the code for determining when the set of conditions is satisfied and identifying a transferee entity that has satisfied the set of conditions; determining that a second entity has satisfied the set of conditions and identifying the second entity as the transferee entity that has satisfied the set of conditions; and transferring the portion of the stored value to the second entity.
• Example 17. The computer storage media of Example 16, where: the code for determining when the set of conditions is satisfied includes code for prompting an intermediary entity to verify that at least one condition of the set of conditions is satisfied; and the code for transferring the portion of the stored value to the second entity includes code for: responsive to verification from the intermediary entity that the one condition of the set of conditions is satisfied, creating a stored value payment block on the blockchain for transferring the portion of the stored value to the transferee entity identified as having satisfied the set of conditions, and linking the stored value payment block to the stored value block on the blockchain.
• Example 18. The computer storage media of Example 17, where the stored value payment block on the blockchain requires the signature of the intermediary entity to release the portion of the stored value.
• Example 19. The computer storage media of Example 17, where: responsive to the prompting to verify the transfer, the intermediary entity verifies that the one condition of the set of conditions is satisfied; and signs the stored value payment block to release the portion of the stored value.
• Example 20. The computer storage media of Example 17, the media further including instructions for: creating a stored value payment block on the blockchain for transferring the portion of the stored value that requires a signature of an intermediary entity to release the portion of the stored value; linking the stored value payment block to the stored value block on the blockchain; in the intermediary entity, monitoring at least one condition of the set of conditions to detect that the set of conditions is satisfied and, when the one condition of the set of conditions is satisfied, verifying that the one condition of the set of conditions is satisfied and signing the stored value payment block; and the code for determining when the set of conditions is satisfied includes code for including the verification from the intermediary entity that the one condition of the set of conditions is satisfied in determining that the set of conditions is satisfied.
• Although the subject matter presented herein has been described in language specific to computer structural features, methodological and transformative acts, specific computing machinery, and computer readable media, it is to be understood that the subject matter set forth in the appended claims is not necessarily limited to the specific features, acts, or media described herein. Rather, the specific features, acts and mediums are disclosed as example forms of implementing the claimed subject matter.
• The subject matter described above is provided by way of illustration only and should not be construed as limiting. Various modifications and changes can be made to the subject matter described herein without following the example configurations and applications illustrated and described, and without departing from the scope of the present disclosure, which is set forth in the following claims.

Claims (20)

What is claimed is:

1. A computer-implemented method for managing stored value on a blockchain, where the method includes, by one or more computers:

creating a stored value contract block on a blockchain, the stored value contract block storing an identifier of a first entity and including:

a set of conditions defining when at least a portion of a stored value is to be released;

code for determining that a condition of the set of conditions is satisfied and identifying a transferee entity that has satisfied the condition;

code for receiving a verification from an intermediary entity that the condition is satisfied;

responsive to the verification from the intermediary entity, code for transferring the portion of the stored value to the identified transferee entity; and

storing funds data to the blockchain, the funds data indicating the stored value that is committed to the stored value contract block by the first entity.

2. The computer-implemented method ofclaim 1, the method including:

invoking the code for determining when a condition of the set of conditions is satisfied and identifying a transferee entity that has satisfied the condition;

determining that a second entity has satisfied the condition including receiving verification from the intermediary entity that the condition is satisfied and identifying the second entity as the transferee entity that has satisfied the condition; and

transferring the portion of the stored value to the second entity.

3. The computer-implemented method ofclaim 2, where:

the code for determining when a condition of the set of conditions is satisfied includes code for prompting an intermediary entity to verify that the condition is satisfied; and

the code for transferring the portion of the stored value to the identified transferee entity includes code for:

responsive to verification from the intermediary entity that the condition is satisfied, creating a stored value payment block on the blockchain for transferring the portion of the stored value to the transferee entity identified as having satisfied the condition, and

linking the stored value payment block to the stored value block on the blockchain.

4. The computer-implemented method ofclaim 3, where the stored value payment block on the blockchain requires the signature of the intermediary to release the portion of the stored value.

5. The computer-implemented method ofclaim 4, where:

the intermediate entity signs the stored value payment block to release the portion of the stored value.

6. The computer-implemented method ofclaim 1, where:

the method includes creating a stored value payment block on the blockchain for transferring the portion of the stored value;

linking the stored value payment block to the stored value contract block on the blockchain;

in the intermediary entity, monitoring the set of conditions to detect that the condition is satisfied, verifying that the condition is satisfied and signing the stored value payment block; and

the code for determining when the condition is satisfied includes code for including the verification from the intermediary entity that the condition is satisfied in determining that the condition is satisfied.

7. The computer-implemented method ofclaim 1, where the set of conditions in the stored value contract block comprise conditions for one of an installment payment contract, a subscription contract, an insurance contract, an indemnity contract, a guarantee contract, a deposit contract, a bail bond contract, an incentive contract, and a pre-paid goods or services contract.

8. A system for managing stored value on a blockchain, the system comprising:

one or more processors; and

one or more memory devices in communication with the one or more processors, the memory devices having computer-readable instructions stored thereupon that, when executed by the processors, cause the processors to execute operations for:

creating a stored value contract block on a blockchain, the stored value contract block storing an identifier of a first entity and including:

a set of conditions defining when at least a portion of a stored value is to be released;

code for determining that a condition of the set of conditions is satisfied and identifying a transferee entity that has satisfied a condition; code for receiving a verification from an intermediary entity that the condition is satisfied;

responsive to the verification from the intermediary entity, code for transferring the portion of the stored value to the identified transferee entity;

and storing funds data to the blockchain, the funds data indicating the stored value that is committed to the stored value contract block by the first entity.

9. The system ofclaim 8, where the memory devices further include instructions for:

invoking the code for determining when a condition of the set of conditions is satisfied and identifying a transferee entity that has satisfied the condition;

determining that a second entity has satisfied the condition including receiving verification from the intermediary entity that the condition is satisfied and identifying the second entity as the transferee entity that has satisfied the condition; and

transferring the portion of the stored value to the second entity.

10. The system ofclaim 9, where:

the code for determining when a condition of the set of conditions is satisfied includes code for prompting an intermediary entity to verify that the condition is satisfied; and

the code for transferring the portion of the stored value to the identified transferee entity includes code for:

responsive to verification from the intermediary entity that the condition is satisfied, creating a stored value payment block on the blockchain for transferring the portion of the stored value to the transferee entity identified as having satisfied the condition, and

linking the stored value payment block to the stored value block on the blockchain.

11. The system ofclaim 10, where the stored value payment block on the blockchain requires the signature of the intermediary to release the portion of the stored value.

12. The system ofclaim 11, where:

the intermediate entity signs the stored value payment block to release the portion of the stored value.

13. The system ofclaim 8, further comprising:

creating a stored value payment block on the blockchain for transferring the portion of the stored value;

linking the stored value payment block to the stored value contract block on the blockchain;

in the intermediary entity, monitoring the condition to detect that the condition is satisfied and, when the condition is satisfied, verifying that the condition is satisfied and signing the stored value payment block; and

the code for determining when the condition is satisfied includes code for including the verification from the intermediary entity that the condition is satisfied in determining that the condition is satisfied.

14. The system ofclaim 8, where the set of conditions in the stored value contract block comprises at least one of an installment payment contract, a subscription contract, an insurance contract, an indemnity contract, a guarantee contract, a deposit contract, a bail bond contract, an incentive contract, and a pre-paid goods or services contract.

15. One or more non-transitory computer storage media having computer executable instructions stored thereon which, when executed by one or more processors, cause the processors to execute operations for managing stored value on a blockchain comprising:

creating a stored value contract block on a blockchain, the stored value contract block storing an identifier of a first entity and including:

a set of conditions defining when at least a portion of a stored value is to be released;

code for determining that a condition of the set of conditions is satisfied and identifying a transferee entity that has satisfied a condition;

code for receiving a verification from an intermediary entity that the condition is satisfied;

responsive to the verification from the intermediary entity, code for transferring the portion of the stored value to the identified transferee entity; and

storing funds data to the blockchain, the funds data indicating the stored value that is committed to the stored value contract block by the first entity.

16. The computer storage media ofclaim 15, the media further including instructions for:

invoking the code for determining when a condition of the set of conditions is satisfied and identifying a transferee entity that has satisfied the condition;

determining that a second entity has satisfied the condition including receiving verification from the intermediary entity that the condition is satisfied and identifying the second entity as the transferee entity that has satisfied the condition; and

transferring the portion of the stored value to the second entity.

17. The computer storage media ofclaim 16, where:

the code for determining when a condition of the set of conditions is satisfied includes code for prompting an intermediary entity to verify that the condition is satisfied; and

the code for transferring the portion of the stored value to the identified transferee entity includes code for:

responsive to verification from the intermediary entity that the condition is satisfied, creating a stored value payment block on the blockchain for transferring the portion of the stored value to the transferee entity identified as having satisfied the condition, and

linking the stored value payment block to the stored value block on the blockchain.

18. The computer storage media ofclaim 16, where:

the stored value payment block on the blockchain requires the signature of the intermediary entity to release the portion of the stored value.

19. The computer storage media ofclaim 18, where:

the intermediate entity signs the stored value payment block to release the portion of the stored value.

20. The computer storage media ofclaim 15, the media further including instructions for:

creating a stored value payment block on the blockchain for transferring the portion of the stored value;

linking the stored value payment block to the stored value contract block on the blockchain;

in the intermediary entity, monitoring the condition to detect that the condition is satisfied;

when the condition is satisfied, verifying that the condition is satisfied and signing the stored value payment block; and

the code for determining when the condition is satisfied includes code for including the verification from the intermediary entity that the condition is satisfied in determining that the condition is satisfied.

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