System for allowing external validation of data in a process data network

Patent metadata

Field	Value
Publication number	US-2017243286-A1
Application number	US-201615049835-A
Country	US
Kind code	A1
Filing date	Feb 22, 2016
Priority date	Feb 22, 2016
Publication date	Aug 24, 2017
Grant date	—

Abstract

Systems, computer program products, and methods are described herein for a system for allowing external validation of data in a process data network. The present invention is configured to create a block chain of resource information based on at least aggregated information associated with past transfer of resources executed by an entity; receive an indication that the entity has executed a transfer of resources at a terminal; receive information associated with the transfer of resources based on at least receiving the indication that the entity has executed the transfer of resources; and update the block chain of transaction information with the transaction activity executed by the entity.

First claim

What is claimed is:

1 . A system operatively connected with a block chain distributed network and for using the block chain distributed network for allowing external validation of data in a process data network, the system comprising:
a memory device storing logic and rules for the block chain; and a processing device operatively coupled to the memory device, wherein the processing device is configured to execute computer-readable program code to:
create a block chain of resource information based on at least aggregated information associated with past transfer of resources executed by an entity;
receive an indication that the entity has executed a transfer of resources at a terminal;
receive information associated with the transfer of resources based on at least receiving the indication that the entity has executed the transfer of resources; and
update the block chain of transaction information with the transaction activity executed by the entity.

2 . The system of claim 1 , wherein the processing device is configured to execute computer-readable program code further to:
create a block chain of transaction information based on at least aggregated information associated with past transfer of resources executed by an entity, wherein the past transfer of resources comprises past transactions of the entity with a financial institution; receive an indication that the entity has executed a transfer of resources, wherein the transfer of resources comprises a transaction executed using one or more financial credentials associated with the financial institution; receive information associated with the transaction based on at least receiving the indication that the entity has executed the transaction; and update the block chain of transaction information with the transaction activity executed by the entity.

3 . The system of claim 2 , wherein the processing device is configured to execute computer-readable program code further to:
determine a financial standing associated with the entity based on at least the block chain of transaction information.

4 . The system of claim 2 , wherein the processing device is configured to execute computer-readable program code further to:
receive a request from one or more financial institutions to access the block chain to update the block chain with information associated with transaction activity of the entity, wherein the entity is associated with the one or more financial institutions; determine that the one or more financial institutions is a member institution, wherein a member institution has authorized access to the block chain; enable the one or more financial institutions to access the block chain; receive information associated with past transactions associated with the entity from one or more financial institutions, wherein the one or more financial institutions has authorized access to the block chain; and update the block chain with the information received from the one or more financial institutions.

5 . The system of claim 4 , wherein the processing device is configured to execute computer-readable program code further to:
receive one or more authentication credentials from the one or more financial institutions to enable the one or more financial institutions to access the block chain; validate the one or more authentication credentials; and enable the one or more financial institutions to access the block chain in response to validating the one or more authentication credentials.

6 . The system of claim 2 , wherein the processing device is configured to execute computer-readable program code further to:
initiate a request to receive information associated with transaction activity of the entity with one or more member institutions having access to the block chain; receive information associated with the transaction activity of the entity with the one or more member institutions based on at least the initiated request; and update the block chain of transaction information with the transaction activity executed by the entity.

7 . The system of claim 2 , wherein the processing device is configured to execute computer-readable program code further to:
initiate a request to receive information associated with transaction activity of the entity with one or more member institutions having access to the block chain based on at least one or more specific transaction types; receive information associated with the transaction activity of the entity with the one or more member institutions based on at least the initiated request, wherein the transaction activity is associated with a transaction type; and update the block chain of transaction information with the transaction activity of the entity associated with the one or more specific transaction types executed by the entity with the one or more member institutions.

8 . The system of claim 2 , wherein the processing device is configured to execute computer-readable program code further to:
update the block chain of transaction information with the transaction activity executed by the entity with a financial institution; transmit a request to the one or more member institutions to validate the transaction activity based on the logic and rules for the block chain; and post validated transaction activity to distributed memory of the block chain.

9 . The system of claim 2 , wherein the transaction terminal comprises at least a point of sale terminal associated with a merchant, an e-commerce transaction interface, and/or a terminal associated with a financial institution.

10 . A computerized method for using the block chain distributed network for using the block chain distributed network for allowing external validation of data in a process data network, the method comprising:
creating a block chain of resource information based on at least aggregated information associated with past transfer of resources executed by an entity; receiving an indication that the entity has executed a transfer of resources at a terminal; receiving information associated with the transfer of resources based on at least receiving the indication that the entity has executed the transfer of resources; and updating the block chain of transaction information with the transaction activity executed by the entity.

11 . The method of claim 10 , wherein the method further comprises:
creating a block chain of transaction information based on at least aggregated information associated with past transfer of resources executed by an entity, wherein the past transfer of resources comprises past transactions of the entity with a financial institution; receiving an indication that the entity has executed a transfer of resources, wherein the transfer of resources comprises a transaction executed using one or more financial credentials associated with the financial institution; receiving information associated with the transaction based on at least receiving the indication that the entity has executed the transaction; and updating the block chain of transaction information with the transaction activity executed by the entity.

12 . The system of claim 11 , wherein the method further comprises:
determining a financial standing associated with the entity based on at least the block chain of transaction information.

13 . The method of claim 11 , wherein the method further comprises:
receiving a request from one or more financial institutions to access the block chain to update the block chain with information associated with transaction activity of the entity, wherein the entity is associated with the one or more financial institutions; de

Assignees

• Bank Of America

Inventors

• Castinado Joseph Benjamin
• Wuehler Michael

Classifications

• H04L63/102

  Entity profiles · CPC title

• H04L9/3239

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

• G06F21/6245

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

• H04L63/08

  for authentication of entities (cryptographic mechanisms or cryptographic arrangements for entity authentication H04L9/32) · CPC title

• H04L2463/102

  applying security measure for e-commerce · CPC title