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Linked multiple blockchain system

A blockchain and computing system technology, which is applied in multiple linked blockchain systems, can solve problems such as unacceptable settlement delays

Pending Publication Date: 2020-01-17
VISA INT SERVICE ASSOC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

Delays in the settlement of these transactions are undesirable when considering the risks faced by the parties to the transaction

Method used

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  • Linked multiple blockchain system
  • Linked multiple blockchain system
  • Linked multiple blockchain system

Examples

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Embodiment Construction

[0028] introduction

[0029] As previously discussed, transactions are often settled after they have occurred. Settlement involves the actual physical delivery of funds and occurs after the transaction is cleared, and sometimes later. For example, customers of two different financial institutions (eg, banks) may conduct transactions with each other throughout the day. As the transaction clears, the customer account balances within those financial institutions may be updated. However, payment transfers between financial institutions are not actually made until settlement occurs. For example, at the end of the day, the net flow of funds between various financial institutions can be determined by summarizing the many transactions between customers that occurred during the day. These differences are then settled, often by electronic funds transfer (in the United States, a bank wire through the Federal Reserve's Fedwire system). Therefore, settlement is not performed on a per...

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PUM

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Abstract

Embodiments of the disclosure are directed to a real-time payments settlement system based on distributed ledgers, which may be implemented with blockchain technology. The distributed ledgers may be separate and distinct and each ledger can be used to track, record, and settle transactions between users of a pool account. The ledgers may also be interconnected with one another by being connected to a main ledger, and this network of ledgers can be used to track, record, and facilitate settlement of transactions between users of different pool accounts that are associated with different ledgers. This provides redundancy, transparency, and data access controls, while enabling multicurrency, cross-border transactions to be quickly verified, performed, and settled on a per-transaction basis while reducing the capital requirements of its users.

Description

[0001] Related Application Cross Reference [0002] This application is a formal application of U.S. Provisional Application No. 62 / 515,991 filed June 6, 2017, and claims the benefit and priority of said provisional application pursuant to 35 U.S.C.119(e), the entire contents of which are Incorporated herein by reference for all purposes. Background technique [0003] In today's technological environment, users may interact with a variety of computer systems to initiate transactions, which may include any exchange or interaction between two or more entities (e.g., between a user and a resource provider) . Transactions may include the exchange of specific resources, goods, services, financial instruments, access (eg, access to secure resources or areas), and the like. [0004] However, the contractual obligations in the transaction may not all occur at the same time. For example, a user interacting with a computer system to purchase coffee may actually be exchanging a promis...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q20/38G06Q20/10H04L9/12H04L29/06
CPCG06Q20/10H04L9/3239H04L9/3247H04L9/3297H04L2209/56G06Q20/02H04L9/50G06Q20/3827H04L9/0643G06F16/27
Inventor K·瑟文卡K·瓦格纳
Owner VISA INT SERVICE ASSOC
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