Location aware trust-based peer-to-peer currency exchange

• US 10,748,143 B2
• Filed: 11/19/2015
• Issued: 08/18/2020
• Est. Priority Date: 11/19/2015
• Status: Active Grant

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Edgington, Jeff L., Jones, Kristina E., Kwan, Hung Tack, Mathai, Shiju
• Primary Examiner(s): Shrestha, Bijendra K
• Application Number:
  US14/945,811
• Publication Number:
  US 20170148015A1
• Time in Patent Office: 1,734 Days
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules

Abstract

Embodiments of the invention provide for a location aware trust based currency exchange. A method for location aware trust based currency exchange includes receiving in a mobile device on behalf of an end user a request to conduct a peer-to-peer currency exchange transaction. A database is then queried for a listing of partners geographically proximate to a location indicated by the request, the listing including both a trust value for each of the partners indicative of a trustworthiness for a corresponding one of the partners and also an exchange rate offered for each of the partners. The listing is then displayed in the mobile device. Finally, in response to the end user selecting one of the partners in the listing, a message is transmitted to the selected one of the partners indicating a desire by the end user to conduct the peer-to-peer currency exchange transaction.

Claims

1. A method for location aware trust based currency exchange, the method comprising:

recording in a database different exchange rates offered by different partners for different transactions conducted by the different partners in a peer-to-peer currency exchange;

receiving in a mobile device on behalf of an end user a request to conduct a peer-to-peer currency exchange transaction, the request specifying an amount of currency and both a source and target currency and a location of the mobile device;

querying the database for a listing of the different partners that are geographically proximate to the location indicated by the request, the listing comprising each of a trust value and a safety risk score for each of the partners indicative, respectively, of a trustworthiness for a corresponding one of the partners computed by modifying negatively an existing trust value for the corresponding one of the partners after parsing content in published Web sites and locating in the Web sites in consequence of the parsing, negative terminology associated with the corresponding one of the partners, and a safety risk in engaging in a currency exchange transaction with the corresponding one of the partners, and also an exchange rate most recently offered by each of the partners;

displaying the listing in the mobile device; and

,

responsive to the end user selecting one of the partners in the listing, transmitting a message to the selected one of the partners indicating a desire by the end user to conduct the peer-to-peer currency exchange transaction.

2. The method of claim 1, wherein the listing is filtered according to a minimum threshold value of trustworthiness for each of the partners.

3. The method of claim 1, wherein the listing is filtered according to a maximum threshold geographic distance from the location of the mobile device.

4. The method of claim 1, wherein the listing is sorted according to exchange rate.

5. The method of claim 1, wherein the trust value for each of the partners is computed at least in part on negative information published in one or more Web site and discovered through Web crawling.

6. A mobile data processing system configured for location aware trust based currency exchange, the system comprising:

a host computing system comprising one or more computers, each with memory and at least one processor;

a database of currency exchange transaction partners, the database comprising a multiplicity of records each record corresponding to a currency exchange transaction partner, a geographic location of the currency exchange transaction partner, a currency, a corresponding offered exchange rate, and a trust value; and

,

a currency exchange computer program executing in the memory of the host computing system, the program comprising program instructions enabled to;

record in the database different exchange rates offered by the currency exchange transaction partners for different transactions previously conducted by the partners;

receive from a communicatively coupled mobile device on behalf of an end user a request to conduct a peer-to-peer currency exchange transaction, the request specifying an amount of currency and both a source and target currency and a location of the mobile device;

query a database for a listing of the partners that are geographically proximate to the location indicated by the request, the listing comprising each of a trust value computed by modifying negatively an existing trust value for the corresponding one of the partners after parsing content in published Web sites and locating in the Web sites in consequence of the parsing, negative terminology associated with the corresponding one of the partners, and a safety risk score for each of the partners indicative, respectively, of a trustworthiness for a corresponding one of the partners and a safety risk in engaging in a currency exchange transaction with the corresponding one of the partners, and also an exchange rate most recently offered by each of the partners;

transmit the listing to the mobile device; and

,

respond to the end user selecting one of the partners in the listing by transmitting a message to the selected one of the partners indicating a desire by the end user to conduct the peer-to-peer currency exchange transaction.

7. The system of claim 6, wherein the listing is filtered according to a minimum threshold value of trustworthiness for each of the partners.

8. The system of claim 6, wherein the listing is filtered according to a maximum threshold geographic distance from the location of the mobile device.

9. The system of claim 6, wherein the listing is sorted according to exchange rate.

10. The system of claim 6, wherein the trust value for each of the partners is computed at least in part on negative information published in one or more Web site and discovered through Web crawling.

11. A computer program product for location aware trust based currency exchange, the computer program product comprising a non-transitory computer readable storage medium having program instructions embodied therewith, the program instructions executable by a device to cause the device to perform a method comprising:

recording in a database different exchange rates offered by different partners for different transactions conducted by the different partners in a peer-to-peer currency exchange;

receiving in a mobile device on behalf of an end user a request to conduct a peer-to-peer currency exchange transaction, the request specifying an amount of currency and both a source and target currency and a location of the mobile device;

querying the database for a listing of the different partners that are geographically proximate to the location indicated by the request, the listing comprising each of a trust value computed by modifying negatively an existing trust value for the corresponding one of the partners after parsing content in published Web sites and locating in the Web sites in consequence of the parsing, negative terminology associated with the corresponding one of the partners, and a safety risk score for each of the partners indicative, respectively, of a trustworthiness for a corresponding one of the partners and a safety risk in engaging in a currency exchange transaction with the corresponding one of the partners, and also an exchange rate most recently offered by each of the partners;

displaying the listing in the mobile device; and

,

responsive to the end user selecting one of the partners in the listing, transmitting a message to the selected one of the partners indicating a desire by the end user to conduct the peer-to-peer currency exchange transaction.

12. The computer program product of claim 11, wherein the listing is filtered according to a minimum threshold value of trustworthiness for each of the partners.

13. The computer program product of claim 11, wherein the listing is filtered according to a maximum threshold geographic distance from the location of the mobile device.

14. The computer program product of claim 11, wherein the listing is sorted according to exchange rate.

15. The computer program product of claim 11, wherein the trust value for each of the partners is computed at least in part on negative information published in one or more Web site and discovered through Web crawling.