SYSTEM AND METHOD OF MANAGEMENT OF A SHARED CRYPTOGRAPHIC ACCOUNT

• Main Authors: OHAYON, Ouriel, SHLOMOVITS, Omer, BE ERY, Tal Arieh, BENATTAR, Gary
• Format: Patent
• Language: English; French; German
• Published: 14.06.2023
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; ELECTRIC COMMUNICATION TECHNIQUE; ELECTRICITY; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR; TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHICCOMMUNICATION

Systems and methods of managing a shared cryptographic account for a first user and at least one second user in a blockchain based computer network, including: generating, by a first computing device of the first user, a first share of a cryptographic key, generating, by a server, a corresponding second share of the cryptographic key, wherein the cryptographic key corresponds to a public key and private key pair, and wherein the private key is configured to decrypt shares of the cryptographic key that are encrypted by the public key, generating a group ID for a group of users of the shared cryptographic account, distributing, by the server, the first share among each of the at least one second user, and enforcing a signing logic scheme for users of the group when signing with the shared cryptographic account.