Bank of Montreal
SYSTEMS AND METHODS FOR ENCRYPTION OF DATA ON A BLOCKCHAIN

Abstract:

Methods and systems for encrypting and decrypting data on a blockchain may comprise, upon receiving a request to encrypt data elements of a first data block of a blockchain to only be accessible to a subset of nodes of the blockchain, generating an encryption key configured to encrypt the data elements of the first data block; encrypting the data elements of the first data block using the encryption key; retrieving a public key corresponding to each node within the subset of nodes; encrypting the encryption key using the public key corresponding to each node within the subset of nodes, generating an encrypted encryption key for each node within the subset of nodes; generating a second data block comprising the encrypted encryption key for each node and the encrypted data elements of the first data block; and appending the second data block to the blockchain.