REAL-TIME PROCESSING DISTRIBUTED LEDGER SYSTEM
First Claim
1. A system for processing a real-time resource transfer using distributed ledger technology, the system comprising:
- a first entity node comprising;
a processor;
a communication interface; and
a memory having a blockchain application stored therein, wherein the blockchain application comprises a blockchain comprising a plurality of data records, wherein the blockchain application, when executed by the processor, causes the processor to;
receive a resource transfer request from a user device;
generate a pending data record on the blockchain;
validate the pending data record for a first entity;
detect that the pending data record has been validated by a second entity;
convert the pending data record to a permanent data record; and
append the permanent data record to the blockchain.
1 Assignment
0 Petitions
Accused Products
Abstract
A system, computer program product, and method for executing real-time processing of resource transfers using distributed ledger technology is provided. In particular, the system utilizes a private or semi-private blockchain to create a distributed ledger which comprises a record of all resource transfers between a number of entities. The real-time processing system addresses a number of computer technology-centric challenges associated with executing resource transfers. In particular, executing resource transfers on a real-time basis allows the nodes of the blockchain to more evenly distribute computing workload over time when compared to more traditional resource transfer systems that use batch processing to execute transfers.
26 Citations
18 Claims
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1. A system for processing a real-time resource transfer using distributed ledger technology, the system comprising:
a first entity node comprising; a processor; a communication interface; and a memory having a blockchain application stored therein, wherein the blockchain application comprises a blockchain comprising a plurality of data records, wherein the blockchain application, when executed by the processor, causes the processor to; receive a resource transfer request from a user device; generate a pending data record on the blockchain; validate the pending data record for a first entity; detect that the pending data record has been validated by a second entity; convert the pending data record to a permanent data record; and append the permanent data record to the blockchain. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A computer program product for processing a real-time resource transfer using distributed ledger technology, 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:
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an executable portion for receiving a resource transfer request from a user device; an executable portion for generating a pending data record on the blockchain; an executable portion for validating the pending data record for a first entity; an executable portion for detecting that the pending data record has been validated by a second entity; an executable portion for converting the pending data record to a permanent data record; and an executable portion for appending the permanent data record to the blockchain. - View Dependent Claims (8, 9, 10, 11, 12)
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13. A computer-implemented method for processing a real-time resource transfer using distributed ledger technology, said method comprising:
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receiving a resource transfer request from a user device; generating a pending data record on the blockchain; validating the pending data record for a first entity; detecting that the pending data record has been validated by a second entity; converting the pending data record to a permanent data record; and appending the permanent data record to the blockchain. - View Dependent Claims (14, 15, 16, 17, 18)
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Specification