LendingClub Corporation
MULTI-LAYERED BLOCKCHAIN FOR DIGITAL ASSETS

Abstract:

An item is cryptographically encrypted to create a unique hash-value for the item. From this hash-value, an item can be uniquely identified. The hash-value for the item is stored in a first blockchain. When the item is included in a transaction, a transaction entry is stored in a block of the first blockchain. When an item participates in a group of items, a group of items is formed. The group of items is cryptographically encrypted to create a unique hash-value for the group of items. The hash-value for the group of items may be based on hash-values from the items included in the group of items. From this hash-value the group of items can be uniquely identified. The hash-value for the group of items is stored in a second blockchain that is distinct from the first blockchain. When the group of items is included in a transaction, a transaction entry is stored in a block of a second blockchain. By decrypting hash-values for groups of items, groups of items can be traced back to individual items stored in different blockchains. The mechanism of using multiple blockchains and multiple layers of hashing ensures that data in a group of digital items can not be tampered.