Encrypt metadata of a transaction to make it readable only for recipient

Question

I'm trying to implement a functionality where the metadata embedded in a transaction is encrypted in such a way that only the recipient of the transaction will be able to decrypt it. Can this functionality be achieved with the key pair associated with the recipient address? As of now I cannot see any RPC method to encrypt/decrypt information by feeding in an address.

Answer 1

The type of digital signature scheme used by MultiChain does not lend itself easily to being used for public key encryption -> private key decryption, and this functionality is not yet built in to MultiChain. But there has been lots of discussion in this area, e.g.: https://bitcointalk.org/index.php?topic=685269.0

In general you'll be better off using a separate asymmetric encryption scheme designed for what you need, such as RSA. Users can publish RSA public keys on a stream to provably associate those public keys with particular blockchain addresses.