System for conversion of an instrument from a non-secured instrument to a secured instrument in a process data network

Patent metadata

Field	Value
Publication number	US-10116667-B2
Application number	US-201615050094-A
Country	US
Kind code	B2
Filing date	Feb 22, 2016
Priority date	Jan 26, 2016
Publication date	Oct 30, 2018
Grant date	Oct 30, 2018

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 facilitating the conversion of an instrument into a verified secured instrument. The block chain database comprises a distributed ledger that is updated with resource availability based on database node communication. The resource availability is compared to a distribution amount associated with an instrument presented to a receiver for resource distribution. Prior to resource distribution the block chain distributed network confirms the resource availability and marks the resources as unavailable. As such, the invention converts instrument into a verified secure instrument based on an identification of sufficient resources available in association with the instrument.

First claim

What is claimed is:

1. A system for validating resource availability using a block chain distributed network, 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:
generate an availability check configuration for confirming resource availability from an originating entity by receiving information corresponding to available resources associated with the user and updating real time resource availability of user resources on a distributed ledger shared between one or more nodes, wherein the resources associated with the user are processed to the distributed ledger as a token representing a user name and account number comprising the resource availability, wherein the token is associated with the account number via a resource application associated with a financial institution;
receive, physically or electronically, an instrument for resource distribution usage by a user, wherein the instrument is received at the one or more nodes associated with the block chain distributed network;
extract and read data from a scanned or electronic copy of the instrument including a resource distribution amount and a user associated with the instrument, wherein the data is stored at the one or more nodes;
integrate the one or more nodes of the block chain distributed network into resource distribution channel systems to identify available resources associated with the user and provide a real-time resource availability of fluctuations to the distributed ledger validate the instrument against the block chain distributed network, wherein validating the instrument confirms instrument validity for the resource distribution;
confirm resource availability for the resource distribution amount of the instrument by generating a confirmation issued by the originating entity;
marking on the distributed ledger of the block chain distributed network the resource distribution amount required as unavailable;
convert the instrument to a validated secure instrument based on marking on the block chain distributed network the resource distribution amount as unavailable;
and communicate the converting to a receiver of the instrument for completion of the resource distribution.

2. The system of claim 1 , further comprising confirming a lack of resource availability for the resource distribution amount of the instrument by generating a comparison of the distributed ledger with the resource availability to the resource distribution amount of the instrument, wherein the lack of resource availability is communicated to the user for alternative resource allocation.

3. The system of claim 1 , further comprising storing an amount of available resources together with a token representing an account number and a token representing an account owner of an account comprising the available resources, wherein the token allows for account number identification without exposing the account number and account owner identity.

4. The system of claim 1 , wherein the resource distribution channel systems comprise a financial institution system, a receiver system, and a merchant system.

5. The system of claim 1 , wherein receiving an instrument usage for resource distribution further comprises receiving an electronic copy of the instrument, wherein the instrument is a non-secure instrument for resource distribution that is not backed by resources.

6. A computer program product for validating resource availability using a block chain distributed network, 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: first executable portion configured for generating an availability check configuration for confirming resource availability from an originating entity by receiving information corresponding to available resources associated with the user and updating real time resource availability of user resources on a distributed ledger shared between one or more nodes, wherein the resources associated with the user are processed to the distributed ledger as a token representing a user name and account number comprising the resource availability, wherein the token is associated with the account number via a resource application associated with a financial institution; second executable portion configured for receiving, physically or electronically, an instrument for resource distribution usage by a user, wherein the instrument is received at the one or more nodes associated with the block chain distributed network: third executable portion configured for extracting and reading data from a scanned or electronic copy of the instrument including a resource distribution amount and a user associated with the instrument, wherein the data is stored at the one or more nodes; fourth executable portion configured for integrating the one or more nodes of the block chain distributed network into resource distribution channel systems to identify available resources associated with the user and provide a real-time resource availability of fluctuations to the distributed ledger of the block chain distributed network; fifth executable portion configured for validating the instrument against the block chain distributed network, wherein validating the instrument confirms instrument validity for resource distribution; sixth executable portion configured for confirming resource availability for the resource distribution amount of the instrument by generating a confirmation issued by the originating entity; seventh executable portion configured for marking on the distributed ledger or the block chain distributed network the resource distribution amount required as unavailable; eighth executable portion configured for converting the instrument to a validated secure instrument based marking on the block chain distributed network the resource distribution amount as unavailable; and ninth executable portion configured for communicating the converting to a receiver of the instrument for completion of the resource distribution.

7. The computer program product of claim 6 , further comprising an executable portion configured for confirming a lack of resource availability for the resource distribution amount of the instrument by generating a comparison of the distributed ledger with the resource availability to the resource distribution amount of the instrument, wherein the lack of resource availability is communicated to the user for alternative resource allocation.

8. The computer program product of claim 6 , further comprising an executable portion configured for storing an amount of available resources together with a token representing an account number and a token representing an account owner of an account comprising the available resources, wherein the token allows for account number identification without exposing the account number and account owner identity.

9. The computer program product of claim 6 , wherein the resource distribution channel systems comprise a financial institution system, a receiver system, and a merchant system.

10. The computer program product of claim 6 , wherein receiving an instrument usage for resource distribution further comprises receiving an electronic copy of the instrument, wherein the instrument is a non-secure instrument for resource distribution that is not backed by resources.

11. A computer-implemented method for validating resource availability using a block chain distrib

Assignees

• Bank Of America

Inventors

• Johnsrud Darrell

Classifications

• H04L63/126 Primary

  the source of the received data · CPC title

• G06Q20/40

  Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists · CPC title

• H04L9/3236

  using cryptographic hash functions · CPC title

• H04L2209/38

  Electricity · mapped topic

• H04L9/3239

  involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD · CPC title