A System For Digital Asset Transfer In A Digital Transaction And A Method Thereof

• Main Author: DESHPANDE PRALHAD DINESH
• Format: Patent
• Language: English
• Published: 29.11.2021
• 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

The present invention discloses a system for transferring digital assets in a digital transaction and a method thereof. The method comprising the steps of providing user authentication information by a user by using an input module, authenticating the user authentication information by the input module, creating a request for either a new bearer digital asset or transferring an existing bearer digital asset, wherein a new digital asset is created by the input module and signed by the hardware module if the new bearer digital asset request is created, or a non-inclusion poof is generated for the existing bearer digital asset by the input module and signed by the hardware module along with the non-inclusion proof, creating a digital asset transfer message by the hardware module, updating a database of the input module; the database configured to maintain a digital asset balance information wherein the database is updated if the new bearer digital asset is created or the existing bearer digital asset is transferred, and sending a signed digital asset transfer message by the hardware module to the input module.