Honda Motor Co., Ltd.
SYSTEM AND METHOD FOR SECURING A PRIVATE KEY TRANSACTION WITHIN BLOCKCHAIN

Abstract:

A system and method for securing a private key transaction within blockchain that include receiving an input for initiating a financial transaction between a sender and a recipient. The system and method also include processing a secure wallet that is configured as an encrypted data packet that stores transaction data associated with the financial transaction and account information associated with the sender and the recipient. The system and method additionally include generating a first private key for the sender and a second private key for the recipient. The system and method further include generating a public key that includes encrypted data from the first private key and the second private key and includes the account information associated with the sender and the recipient that is used by at least one blockchain technology provider to pass the financial transaction through the blockchain.