System for external validation of distributed resource status

Patent metadata

Field	Value
Publication number	US-10140470-B2
Application number	US-201615049852-A
Country	US
Kind code	B2
Filing date	Feb 22, 2016
Priority date	Feb 22, 2016
Publication date	Nov 27, 2018
Grant date	Nov 27, 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 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.

First claim

What is claimed is:

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.

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 distribut

Assignees

• Bank Of America

Inventors

• Kurian Manu Jacob
• Johnsrud Darrell

Classifications

• H04L9/3236

  using cryptographic hash functions · CPC title

• H04L2463/102

  applying security measure for e-commerce · CPC title

• H04L2209/38

  Electricity · mapped topic

• G06F21/6245 Primary

  Protecting personal data, e.g. for financial or medical purposes · CPC title

• H04L2209/56

  Financial cryptography, e.g. electronic payment or e-cash · CPC title