METHOD AND SYSTEM FOR USE OF A BLOCKCHAIN IN A TRANSACTION PROCESSING NETWORK
First Claim
1. A method for validating electronic transactions using a private blockchain, comprising:
- storing, in a memory of a processing server, a blockchain, wherein the blockchain is a distributed database that includes a plurality of data records, each data record being associated with a processed electronic transaction;
receiving, by a receiving device of the processing server, a transaction message, wherein the transaction message is associated with an electronic transaction, is formatted based on one or more standards, and includes at least a message type indicator indicative of a type of transaction and a plurality of data elements, each data element configured to store a transaction data value;
generating, by a generation module of the processing server, a data record, wherein the data record is associated with the electronic transaction and includes at least the message type indicator and one or more transaction data values stored in the plurality of data elements included in the received transaction message;
updating, by an updating module of the processing server, the blockchain to include the generated data record;
electronically transmitting, by a transmitting device of the processing server, the received transaction message to a payment network for processing; and
electronically transmitting, by the transmitting device of the processing server, the updated blockchain to a plurality of transaction processing devices for validation.
1 Assignment
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Accused Products
Abstract
A method for validating electronic transactions using a private blockchain includes: storing a blockchain, wherein the blockchain is a distributed database that includes a plurality of data records, each being associated with a processed transaction; receiving a transaction message, the transaction message including a message type indicator and a plurality of data elements, each configured to store a transaction data value; generating a data record, the data record including the message type indicator and one or more transaction data values; updating the blockchain to include the generated data record; electronically transmitting the received transaction message to a payment network for processing; and electronically transmitting the updated blockchain to a plurality of transaction processing devices for validation.
262 Citations
20 Claims
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1. A method for validating electronic transactions using a private blockchain, comprising:
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storing, in a memory of a processing server, a blockchain, wherein the blockchain is a distributed database that includes a plurality of data records, each data record being associated with a processed electronic transaction; receiving, by a receiving device of the processing server, a transaction message, wherein the transaction message is associated with an electronic transaction, is formatted based on one or more standards, and includes at least a message type indicator indicative of a type of transaction and a plurality of data elements, each data element configured to store a transaction data value; generating, by a generation module of the processing server, a data record, wherein the data record is associated with the electronic transaction and includes at least the message type indicator and one or more transaction data values stored in the plurality of data elements included in the received transaction message; updating, by an updating module of the processing server, the blockchain to include the generated data record; electronically transmitting, by a transmitting device of the processing server, the received transaction message to a payment network for processing; and electronically transmitting, by the transmitting device of the processing server, the updated blockchain to a plurality of transaction processing devices for validation. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for validating electronic transactions using a private blockchain, comprising:
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a memory of a processing server configured to store a blockchain, wherein the blockchain is a distributed database that includes a plurality of data records, each data record being associated with a processed electronic transaction; a receiving device of the processing server configured to receive a transaction message, wherein the transaction message is associated with an electronic transaction, is formatted based on one or more standards, and includes at least a message type indicator indicative of a type of transaction and a plurality of data elements, each data element configured to store a transaction data value; a generation module of the processing server configured to generate a data record, wherein the data record is associated with the electronic transaction and includes at least the message type indicator and one or more transaction data values stored in the plurality of data elements included in the received transaction message; an updating module of the processing server configured to update the blockchain to include the generated data record; and a transmitting device of the processing server configured to electronically transmit the received transaction message to a payment network for processing, and the updated blockchain to a plurality of transaction processing devices for validation. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification