System for external validation of distributed resource status

• US 10,140,470 B2
• Filed: 02/22/2016
• Issued: 11/27/2018
• Est. Priority Date: 02/22/2016
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Kurian, Manu Jacob, Johnsrud, Darrell
• Primary Examiner(s): Zoubair, Noura
• Application Number:
  US15/049,852
• Publication Number:
  US 20170243025A1
• Time in Patent Office: 1,009 Days
• CPC Class Codes: G06F 21/6245 Protecting personal data, e.g. for financial or medical purposes
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 9/3236 using cryptographic hash functions
• CPC Class Codes: H04L 9/50 using hash chains, e.g. blockchains or hash trees

Abstract

Embodiments of the invention are directed to a system, method, or computer program product for generating and using a block chain distributed network for tracking and validating the status of distributed portions of a finite resource and the obligations of users to return portions of the finite resource. In example implementations, the block chain database comprises a distributed ledger that is updated to reflect the status and availability of particular portions of the finite resource, including the fractional return of resource portions by users to whom such portion had previously been assigned. Example implementations also implement the use of queries to the block chain to validate requests for access to particular portions of a finite resource, determine the availability of the portion and verify the satisfaction of resource-return obligations incurred by users.

Claims

1. A system for validating a status of a distributed resource, the system comprising:

a memory device with computer-readable program code stored thereon;

a communication device;

a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute the computer-readable program code to;

recognize a finite divisible resource associated with a plurality of users, wherein the finite divisible resource is a pool of loanable funds of an entity;

identify a first portion of the divisible resource to be assigned to a first user from among the plurality of users;

transmit to a block chain distributed ledger an indication that the first portion of the divisible resource is to be assigned to the first user;

receive from the block chain distributed ledger an indication that the first portion of the divisible resource is available to be assigned to the first user;

transmit to the first user the first portion of the finite divisible resource;

receive from the first user documentation of an obligation of the first user to return the first portion of the finite divisible resource to the entity;

extract data from the documentation;

identify private information in the data extracted from the documentation;

associate one or more tokens with the private information;

store the private information on a private block chain distributed ledger;

transmit to the block chain distributed ledger a record associated with the first user, the first portion of the finite divisible resource, and the obligation of the first user to return the first portion to the entity, wherein the record includes the one or more tokens and does not include the private information;

validate, via one or more nodes of the block chain distributed ledger, the record associated with the first user, the first portion of the finite divisible resource, and the obligation of the first user to return the first portion to the entity;

receive from the block chain distributed ledger an indication that the block chain distributed ledger had been updated to reflect the transmission of the first portion of the finite divisible resource to the first user and the obligation of the first user to return the first portion to the entity;

receive an indication that the first user has assigned the first portion of the finite divisible resource to a second user from among the plurality of the users;

receive an indication of an obligation of the second user to return the first portion of the finite divisible resource to the first user;

transmit to the block chain distributed ledger a record associated with the second user, the first portion of the finite divisible resource, and the obligation of the second user to return the first portion to the first user;

validate, via the one or more nodes of the block chain distributed ledger, the record associated with the second user, the first portion of the finite divisible resource, and the obligation of the second user to return the first portion to the first user; and

receive from the block chain distributed ledger an indication that the block chain distributed ledger had been updated to reflect the transmission of the first portion of the finite divisible resource to the second user and the obligation of the second user to return the first portion to the first user.

2. The system of claim 1, wherein the processing device is further configured to execute the computer-readable program code to:

receive from a third user from among the plurality of users a request for the first portion of the finite divisible resource;

transmit to the block chain distributed ledger an indication that the third user has requested that the first portion of the divisible resource be assigned to the third user;

receive from the block chain distributed ledger an indication that the first portion of the divisible resource is unavailable to be assigned to the third user; and

reject the request from the third user for the first portion of the finite divisible resource.

3. The system of claim 2, wherein the processing device is further configured to execute the computer-readable program code to:

receive an indication that the first user has satisfied the obligation of the first user to return the first portion of the finite divisible resource to the entity;

receive a confirmation that the first portion of the finite divisible resource has been returned to the entity;

transmit to the block chain distributed ledger an indication that the first user has satisfied the obligation of the first user and that the first portion has been returned to the entity;

receive from the block chain distributed ledger an indication that the block chain distributed ledger has been updated to reflect the satisfaction of the obligation of the first user and the return of the first portion of the finite divisible resource to the entity; and

receive from the block chain distributed ledger an indication that the first portion of the finite divisible resource is available for redistribution.

4. The system of claim 1 wherein identifying a first portion of the divisible resource to be assigned to a first user from among the plurality of users comprises receiving an indication of authorization from a representative of the plurality of users.

17. The system of claim 1, wherein the private information comprises a name of the first user.

18. The system of claim 1, wherein the private information comprises an account number.

5. A computer program product for validating a status of a distributed resource, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:

an executable portion configured for recognizing a finite divisible resource associated with a plurality of users, wherein the finite divisible resource is a pool of loanable funds of an entity;

an executable portion configured for identifying a first portion of the divisible resource to be assigned to a first user from among the plurality of users;

an executable portion configured for transmitting to a block chain distributed ledger an indication that the first portion of the divisible resource is to be assigned to the first user;

an executable portion configured for receiving from the block chain distributed ledger an indication that the first portion of the divisible resource is available to be assigned to the first user;

an executable portion configured for transmitting to the first user the first portion of the finite divisible resource;

an executable portion configured for receiving from the first user documentation of an obligation of the first user to return the first portion of the finite divisible resource to the entity;

an executable portion configured for extracting data from the documentation;

an executable portion configured for identifying private information in the data extracted from the documentation;

an executable portion configured for associating one or more tokens with the private information;

an executable portion configured for storing the private information on a private block chain distributed ledger;

an executable portion configured for transmitting to the block chain distributed ledger a record associated with the first user, the first portion of the finite divisible resource, and the obligation of the first user to return the first portion to the entity, wherein the record includes the one or more tokens and does not include the private information;

an executable portion configured for validating, via one or more nodes of the block chain distributed ledger, the record associated with the first user, the first portion of the finite divisible resource, and the obligation of the first user to return the first portion to the entity;

an executable portion configured for receiving from the block chain distributed ledger an indication that the block chain distributed ledger had been updated to reflect the transmission of the first portion of the finite divisible resource to the first user and the obligation of the first user to return the first portion to the entity;

an executable portion configured for receiving an indication that the first user has assigned the first portion of the finite divisible resource to a second user from among the plurality of the users;

an executable portion configured for receiving an indication of an obligation of the second user to return the first portion of the finite divisible resource to the first user;

an executable portion configured for transmitting to the block chain distributed ledger a record associated with the second user, the first portion of the finite divisible resource, and the obligation of the second user to return the first portion to the first user;

an executable portion configured for validating, via the one or more nodes of the block chain distributed ledger, the record associated with the second user, the first portion of the finite divisible resource, and the obligation of the second user to return the first portion to the first user; and

an executable portion configured for receiving from the block chain distributed ledger an indication that the block chain distributed ledger had been updated to reflect the transmission of the first portion of the finite divisible resource to the second user and the obligation of the second user to return the first portion to the first user.

6. The computer program product of claim 5, wherein the computer-readable program code portions further comprise:

an executable portion configured for receiving from a third user from among the plurality of users a request for the first portion of the finite divisible resource;

an executable portion configured for transmitting to the block chain distributed ledger an indication that the third user has requested that the first portion of the divisible resource be assigned to the third user;

an executable portion configured for receiving from the block chain distributed ledger an indication that the first portion of the divisible resource is unavailable to be assigned to the third user; and

an executable portion configured for rejecting the request from the third user for the first portion of the finite divisible resource.

7. The computer program product of claim 6, wherein the computer-readable program code portions further comprise:

an executable portion configured for receiving an indication that the first user has satisfied the obligation of the first user to return the first portion of the finite divisible resource to the entity;

an executable portion configured for receiving a confirmation that the first portion of the finite divisible resource has been returned to the entity;

an executable portion configured for transmitting to the block chain distributed ledger an indication that the first user has satisfied the obligation of the first user and that the first portion has been returned to the entity;

an executable portion configured for receiving from the block chain distributed ledger an indication that the block chain distributed ledger has been updated to reflect the satisfaction of the obligation of the first user and the return of the first portion of the finite divisible resource to the entity; and

an executable portion configured for receiving from the block chain distributed ledger an indication that the first portion of the finite divisible resource is available for redistribution.

8. The computer program product of claim 5 wherein identifying a first portion of the divisible resource to be assigned to a first user from among the plurality of users comprises receiving an indication of authorization from a representative of the plurality of users.

15. The computer program product of claim 5, wherein the private information comprises a name of the first user.

16. The computer program product of claim 5, wherein the private information comprises an account number.

9. A computer-implemented method for tracking and validating multiple instance of a user, the method comprising:

providing a computing system comprising a computer processing device and a non-transitory computer readable medium, where the computer readable medium comprises configured computer program instruction code, such that when said instruction code is operated by said computer processing device, said computer processing device performs the following operations;

recognizing a finite divisible resource associated with a plurality of users, wherein the finite divisible resource is a pool of loanable funds of an entity;

identifying a first portion of the divisible resource to be assigned to a first user from among the plurality of users;

transmitting to a block chain distributed ledger an indication that the first portion of the divisible resource is to be assigned to the first user;

receiving from the block chain distributed ledger an indication that the first portion of the divisible resource is available to be assigned to the first user;

transmitting to the first user the first portion of the finite divisible resource;

receiving from the first user documentation of an obligation of the first user to return the first portion of the finite divisible resource to the entity;

extracting data from the documentation;

identifying private information in the data extracted from the documentation;

associating one or more tokens with the private information;

storing the private information on a private block chain distributed ledger;

transmitting to the block chain distributed ledger a record associated with the first user, the first portion of the finite divisible resource, and the obligation of the first user to return the first portion to the entity, wherein the record includes the one or more tokens and does not include the private information;

validating, via one or more nodes of the block chain distributed ledger, the record associated with the first user, the first portion of the finite divisible resource, and the obligation of the first user to return the first portion to the entity;

receiving from the block chain distributed ledger an indication that the block chain distributed ledger had been updated to reflect the transmission of the first portion of the finite divisible resource to the first user and the obligation of the first user to return the first portion to the entity

receiving an indication that the first user has assigned the first portion of the finite divisible resource to a second user from among the plurality of the users;

receiving an indication of an obligation of the second user to return the first portion of the finite divisible resource to the first user;

transmitting to the block chain distributed ledger a record associated with the second user, the first portion of the finite divisible resource, and the obligation of the second user to return the first portion to the first user;

validating, via the one or more nodes of the block chain distributed ledger, the record associated with the second user, the first portion of the finite divisible resource, and the obligation of the second user to return the first portion to the first user; and

receiving from the block chain distributed ledger an indication that the block chain distributed ledger had been updated to reflect the transmission of the first portion of the finite divisible resource to the second user and the obligation of the second user to return the first portion to the first user.

10. The computer-implemented method of claim 9, wherein the computer processing device further performs the following operations:

receiving from a third user from among the plurality of users a request for the first portion of the finite divisible resource;

transmitting to the block chain distributed ledger an indication that the third user has requested that the first portion of the divisible resource be assigned to the third user;

receiving from the block chain distributed ledger an indication that the first portion of the divisible resource is unavailable to be assigned to the third user; and

rejecting the request from the third user for the first portion of the finite divisible resource.

11. The computer-implemented method of claim 10, wherein the computer processing device further performs the following operations:

receiving an indication that the first user has satisfied the obligation of the first user to return the first portion of the finite divisible resource to the entity;

receiving a confirmation that the first portion of the finite divisible resource has been returned to the entity;

transmitting to the block chain distributed ledger an indication that the first user has satisfied the obligation of the first user and that the first portion has been returned to the entity;

receiving from the block chain distributed ledger an indication that the block chain distributed ledger has been updated to reflect the satisfaction of the obligation of the first user and the return of the first portion of the finite divisible resource to the entity; and

receiving from the block chain distributed ledger an indication that the first portion of the finite divisible resource is available for redistribution.

12. The computer-implemented method of claim 9, wherein identifying a first portion of the divisible resource to be assigned to a first user from among the plurality of users comprises receiving an indication of authorization from a representative of the plurality of users.

13. The computer-implemented method of claim 9, wherein the private information comprises a name of the first user.

14. The computer-implemented method of claim 9, wherein the private information comprises an account number.