Electronic document platform

Abstract

This invention provides a computer system and method for managing electronic trade finance transaction conditions using a distributed ledger of a blockchain system. The method includes: receiving a new electronic trade finance transaction request, requesting identification of trade finance transaction parameters and at least one condition of a trade finance transaction associated with one or more inventory management devices or one or more shipping management devices; providing a public key associated with a party's file for the inventory management device or shipping management device associated with the condition of the at least one condition of the trade finance transaction; generating a digital signature or encrypted block for insertion into a sequence of encrypted blocks on the blockchain system; and interacting with the digital signature or encrypted block using at least one private key corresponding to the public key; wherein, when all blocks in the sequence of encrypted blocks representing the electronic trade finance transaction request have been interacted with, the trade finance transaction parameters are satisfied and payment is triggered.

Description

[0001] This application is a divisional application of a Chinese invention patent application filed by the same applicant, with application number 201780025143.X, application date February 22, 2017, and title "Electronic Document Platform".

[0002] Cross-reference to related applications

[0003] This application claims all benefits, including priority, against U.S. Provisional Patent Application No. 62 / 298,434, entitled “Electronic Document Platform,” filed February 22, 2016, which is incorporated herein by reference in its entirety. Technical Field

[0004] Some of the embodiments provided in this application are generally related to the field of electronic document platforms, and in particular, systems and methods for utilizing blockchain technology in the context of trade finance are provided. Background Technology

[0005] Electronic document platforms can reduce the burden of physical paper documents, but their technical characteristics also bring various technical challenges. Summary of the Invention

[0006] According to one aspect, this application provides a method for electronic trade finance transactions utilizing a distributed ledger. The method includes: receiving a new electronic letter of credit request, the request identifying letter of credit parameters and at least one condition of the letter of credit associated with a corresponding party's file; obtaining a string of public keys associated with each of the party's files; generating multiple blocks on the distributed ledger on one of the distributed multi-nodes, each block being associated with a corresponding condition of the at least one condition to be implemented, and encrypted with the public key corresponding to the file of the corresponding party associated with the condition; and generating a signal for initiating a transmission activity to send the multiple blocks to the distributed multi-nodes.

[0007] In some embodiments, the method includes: at one node in the distributed multi-node system, receiving a request to record a transaction associated with one of the plurality of blocks, the request indicating that at least a portion of a condition associated with the block has been met, the request including a string of private keys; recording the transaction on the distributed ledger of the node after verifying that the private keys correspond to a public key in the block representing at least a portion of the condition in the request to record the transaction; and generating a signal to initiate a transmission activity to transmit the transaction to the entire distributed multi-node system.

[0008] In any of the above embodiments, the method may include: the ledger of one of the distributed multi-node nodes is associated with a fund holder, the fund holder being in a state where, after each of the plurality of blocks associated with the corresponding conditions is satisfied by one or more transmitted transactions, a trigger signal is generated to initiate the disbursement of funds according to the letter of credit parameters.

[0009] In any of the above embodiments, the letter of credit parameters may include data that needs to be verified as the conditions have been confirmed by the corresponding party; the method further includes encrypting the data to be verified with the public key associated with the corresponding party's file.

[0010] In any of the above embodiments, each party's file corresponding to at least one condition of the letter of credit may be associated with at least one node in the distributed multi-node system.

[0011] In any of the above embodiments, the party file may include files associated with the relevant parties involved in the shipment process related to the letter of credit; wherein at least one of the conditions of the letter of credit is based on the shipment process.

[0012] In any of the above embodiments, the party files may include files associated with at least one of the following: shipping carrier, stevedore, vessel, port, customs broker, warehouse, or inspector.

[0013] In any of the above embodiments, the method may include: at one of the plurality of distributed nodes, receiving a modification request to modify at least one parameter or condition associated with the shipping process, the request being encoded by the public key associated with the file of the party required to verify the modification request; recording a block branch on the distributed ledger of the node, the block branch displaying the modification request for the shipping process, the block branch including an initial block, the initial block being affected by a transaction and encrypted by a public key associated with at least one authorizing party; and generating a signal for initiating a transmission activity to transmit the branch to the entire distributed multi-node network.

[0014] In any of the above embodiments, the multiple blocks can be cascaded hashed so that a second transaction cannot be recorded before the first transaction is recorded on the distributed ledger.

[0015] In any of the above embodiments, the method may include: receiving a status request; and querying the distributed ledger to confirm a recently recorded transaction.

[0016] In any of the above embodiments, obtaining the public key associated with each of the party files may include: generating a public-private key pair for each of the party files; and transmitting the private key from the public-private key pair to the corresponding party.

[0017] In any of the above embodiments, the letter of credit parameters may include at least one of the following: commodity identification code, quantity, shipping trade terms, or carrier conditions.

[0018] In any of the above embodiments, the generated plurality of blocks may include blocks of a generated tree structure, each branch of which defines a condition for partial satisfaction of the conditions of the letter of credit, wherein the fulfillment of the condition associated with a particular branch can trigger a partial disbursement of funds according to the parameters of the letter of credit.

[0019] In any of the above embodiments, the conditions of the specific branch can be associated with the partial shipment of goods based on the letter of credit parameters.

[0020] In any of the above embodiments, the operation of generating multiple blocks on a distributed ledger includes encrypting parameters associated with one or more blocks using a key based on the access level associated with the block.

[0021] According to one aspect, this application provides a system for managing electronic trade finance transaction conditions using a distributed ledger across multiple nodes. The system includes: a storage device for storing distributed ledger data; and at least one processor for one or more of the multiple nodes. The at least one processor is configured to: receive a new electronic letter of credit request, the request identifying letter of credit parameters and at least one condition of the letter of credit associated with a corresponding party's file; obtain a public key associated with each of the party's files; generate a plurality of blocks on the distributed ledger on one of the distributed nodes, each block being associated with a corresponding condition of the at least one condition to be implemented, and encrypted with the public key corresponding to the file of the corresponding party associated with the condition; and generate a signal for initiating a transmission activity to send the plurality of blocks to the distributed nodes.

[0022] According to one aspect, this application provides one or more computer-readable media in which computer-readable instructions are stored. When executed by at least one processor of one or more multi-nodes, the at least one processor is configured to: receive a new electronic letter of credit request, the request identifying letter of credit parameters and at least one condition of the letter of credit associated with a corresponding party file; obtain a public key associated with each of the party files; generate a plurality of blocks on a distributed ledger on one of the distributed multi-nodes, each block being associated with a corresponding condition of the at least one condition to be implemented and encrypted with a public key corresponding to the file of the corresponding party associated with the condition; and generate a signal for initiating a transmission activity to transmit the plurality of blocks to the distributed multi-nodes.

[0023] According to one aspect, this application provides a system for providing an electronic document platform, the electronic document platform comprising at least a plurality of distributed electronic ledgers, each distributed electronic ledger storing at least one encrypted linked sequence of records, the system comprising: a plurality of distributed computing nodes, each distributed computing node comprising: a processor and a computer-readable medium therein storing computer-readable instructions, which, when executed by the processor, configure the processor as a host of the distributed ledger corresponding to the distributed computing node; applying a set of rules adapted to control modifications to the at least one encrypted linked sequence of records, wherein modifications made to a single distributed computing node are synchronized to other distributed computing nodes linked to the single distributed computing node; receiving electronic information from a party to a transaction having form field objects representing the evidentiary characteristics and changes of trade finance documents; and generating a new information block, the new information block being encrypted linked to an existing block in the record sequence, or representing a new record sequence, the new information block being adapted to include at least the electronic information received from the party to the transaction.

[0024] On the other hand, the transaction involves the sale or exchange of goods, and one or more contracts involved in the transaction are represented by trade finance documents.

[0025] On the other hand, each of the one or more contracts is represented by a sequence of records linked by an encrypted link corresponding to the contract.

[0026] On the other hand, the sequence of records for each cipher link corresponding to one or more contracts is linked to each other.

[0027] On the other hand, the machine-readable instructions further cause the processor to: traverse the record sequence of the at least one cryptographic link to determine whether one or more conditions are met; and, after determining that the one or more conditions are met, generate a notification representing successful completion.

[0028] On the other hand, trade finance documents include at least one of a bill of lading and a letter of credit, and the trade finance documents include electronic form fields corresponding to the evidentiary characteristics of the trade finance documents.

[0029] On the other hand, the trade finance document includes at least one electronic link to one or more inventory management devices and one or more shipment management devices, and when updated inventory or shipment information is received or after a period of time, at least one distributed computing node uses the electronic link to transmit the latest message to the record sequence of the encrypted link.

[0030] On the other hand, trade finance documents include one or more contractual terms that are adaptable to modification or acceptance by the parties to the transaction, and the parties’ acceptance of the transaction is evidenced by electronic signatures.

[0031] On the other hand, the electronic signature is associated with triggering conditions, which include characteristics associated with the trade finance document evidence.

[0032] On the other hand, the rule set includes one or more consensus rules, which, when applied, restrict the transmission of corresponding modifications, except for the first modification of the longest linked sequence of records stored in the multiple electronic ledgers to reach a majority consensus.

[0033] On the other hand, multiple distributed computing nodes include at least one computing device associated with financial institutions, insurance organizations, importing organizations, exporting organizations, management departments, and shipping organizations.

[0034] On the other hand, multiple distributed computing nodes contain multiple groups of one or more distributed computing nodes, and each group has a corresponding set of rules for managing access to information stored on the encrypted linked record sequence. The corresponding set of rules manages access related to the privacy level associated with each group.

[0035] On the other hand, multiple distributed computing nodes contain multiple groups of one or more distributed computing nodes, and each group has a corresponding set of rules for controlling modifications to the information stored on the record sequence of the encrypted link. The corresponding set of rules controls modifications related to the modification level associated with each group.

[0036] On the other hand, the machine-readable instructions further cause the processor to traverse at least one encrypted link of the record sequence to perform one or more electronic queries on the information stored on the encrypted link of the record sequence.

[0037] On the other hand, the one or more electronic queries include access queries for at least one of record integrity, condition satisfaction, and record accuracy.

[0038] On the other hand, the one or more electronic queries include queries that generate one or more reports, the generation of which is based at least on a comparison between characteristics stored on a sequence of records in at least one encrypted link and information stored on (i) one or more inventory management devices, or (ii) one or more shipping management devices.

[0039] On the other hand, the one or more electronic inquiries include inquiries to perform one or more audits of trade finance documents.

[0040] In various other respects, the disclosure provides corresponding systems and apparatuses, as well as logical structures, such as machine-readable coded instructions configured for implementing the systems, apparatuses, and methods.

[0041] In this regard, before explaining at least one embodiment in detail, it is important to understand that the application of the embodiments in the construction details or arrangement of components given in the following description or drawings is not limited. Furthermore, it should be understood that the wording herein is illustrative and should not be considered limiting.

[0042] Many more features and combinations thereof with respect to the embodiments described herein will be disclosed to those skilled in the art in a timely manner. Attached Figure Description

[0043] In the accompanying drawings, the embodiments are illustrated by way of example. It should be clearly understood that the specification and drawings are for illustrative purposes only and to facilitate understanding.

[0044] The embodiments will now be described by way of example only, with reference to the accompanying drawings, in which:

[0045] Figure 1 This is a block diagram of an example system of blockchain-based smart contracts, illustrated according to some embodiments.

[0046] Figure 2 This is an example of a certificate according to some embodiments.

[0047] Figure 3 Here are some examples of letter of credit applications shown according to certain embodiments.

[0048] Figure 4 Examples of letters of credit with various characteristics are shown according to some embodiments.

[0049] Figure 5 Examples of letter of credit guarantees are shown according to some embodiments.

[0050] Figure 6 Here is a flowchart example illustrating the process of providing a letter of credit according to some embodiments.

[0051] Figure 7 The flowchart example illustrates the process of providing contracts, managing transactions, and / or saving trade documents.

[0052] Figure 8 The following is a flowchart example illustrating the process by which a blockchain-based distributed ledger can be implemented, according to some embodiments.

[0053] Figure 9 This is an example block diagram illustrating an example node, shown according to some embodiments.

[0054] Figure 10 Examples of possible functional settings are shown according to some embodiments.

[0055] Figure 11 An example of a possible system relationship diagram is shown to illustrate how the system can be implemented within the context of an organization's computing system.

[0056] Figure 12 An example information model diagram is shown to illustrate some variable factors and / or characteristics that can be tracked by the example system.

[0057] Figure 13 The provided workflow example illustrates how the buyer / applicant opens a letter of credit contract, and a blockchain distributed ledger is used to generate a letter of credit instance after several verification steps.

[0058] Figure 14 The following is an example illustrating the workflow of a sampling method according to some embodiments.

[0059] Figure 15 This is a workflow example illustrating multiple aspects of an example method, shown according to some embodiments.

[0060] Figure 16 This is a workflow example illustrating multiple aspects of an example method, shown according to some embodiments.

[0061] Figure 17 A schematic diagram of a computing device is shown as an example of an embodiment. Detailed Implementation

[0062] In some embodiments, various systems, methods and / or computer-readable media in relation to electronic document platforms are provided, and in particular, systems, methods and / or computer-readable media for blockchain-based smart contracts are provided.

[0063] In some embodiments, a blockchain implementation is described as distributed ledger blocks corresponding to multiple conditions of an electronic document being stored on a series of decentralized devices, which operate as node computing devices. Each decentralized device has a copy of the distributed ledger managed on the node computing device according to an electronic transmission mechanism (e.g., utilizing a consensus mechanism capable of enabling state transitions related to node updates so that the distributed ledger contains identical entries across the decentralized network). The electronic transmission mechanism is used to verify and confirm transactions / activities associated with the successful or failed transmission of the electronic document. The blockchain implementation provides improvements in the following areas: event ordering (e.g., transactions are ordered based on their timestamps, arranged in a first-in-first-out (FIFO) queue), block creation (e.g., transactions are stored in immutable corresponding blocks), blockchain linking (e.g., blocks are linked using previous hash blocks before being encoded into the system chain to improve the integrity of events stored in the blockchain and allow for simple traversal queries), and the ability for parties to register transactions.

[0064] In some embodiments, blockchain systems offer technological improvements over centralized document management systems in several ways, while also providing corresponding trade-offs in distributed control and overall complexity. For example, the complexity of configuring nodes to manage a distributed ledger increases, thus enhancing the single view of the distributed ledger at any given time (e.g., preventing disagreements and conflicts in ledger entry generation). Distributed ledger-specific considerations require technical approaches to correct / avoid (e.g., the possibility of transaction conflicts) while maintaining sufficient transaction comfort (e.g., the probability of a transaction being correctly confirmed and propagated across the distributed ledger) and security.

[0065] Import / export transactions often involve the sale or exchange of goods, and the transaction may be based on and / or characterized by one or more contracts represented by trade finance documents. For example, trade finance documents may include at least one bill of lading and one letter of credit, and may include electronic form fields corresponding to the characteristics of the trade finance document. Other trade finance documents may include invoices, covers, regulatory declarations, certificates of origin, certificates, packing lists, proof of origin, customs invoices, etc.

[0066] A letter of credit is a combination of a bank guarantee (issued by an advising bank) and a document payable on demand or upon presentation of the bill in accordance with the stipulated terms and conditions, issued by a bank at the buyer's request and in favor of the seller. The purpose of a letter of credit is to facilitate trade by substituting the bank's credit for the customer's credit. Letters of credit can have various characteristics (e.g., expressed through contractual terms), such as:

[0067] • Validity period: The letter of credit may be an irrevocable letter of credit or a revocable letter of credit (although the International Chamber of Commerce (ICC) stipulates that it is irrevocable).

[0068] • Payment time: The time when payment is made to the seller. Payment can be made on demand, or at a specific time, through deferred payment or acceptance.

[0069] • Payable on demand: Payment is made upon presentation of the document, through the issuing bank, advising bank, or other nominated bank.

[0070] • Payment within a specified period: Payment can be made by presenting a draft (accepted by a financial institution) or by deferring payment in accordance with the terms of the letter of credit.

[0071] • Location for presenting documents: Location for making payment.

[0072] • Security level: The issuing bank can guarantee the letter of credit without exception for the entire validity period of the letter of credit.

[0073] A bill of lading is a document issued by the carrier that details the shipment of goods and transfers ownership to a designated party. There may be various relationships between the fields and / or characteristics recorded on a bill of lading; for example, a bill of lading may be linked to the terms of a letter of credit, and it may also require cross-verification to ensure compliance with the contract. Signing a bill of lading may require signatures in various aspects, which may be related to the conditions and / or terms representing contractual obligations.

[0074] Accordingly, trade finance documents include one or more contractual terms for the parties to modify or accept, and electronic signatures serve as proof of their acceptance of the transaction. Contractual obligations can be tracked electronically so that the signing, conditions, and events of various requirements may need to be recorded. The intersection between physical characteristics and electronic monitoring may be applied and could influence many interactions within the transaction.

[0075] For example, goods may originate from manufacturers who produce goods using raw materials. Goods may be transported to their destination by multiple different carriers, who may operate different modes of transport (e.g., road, air, sea). As goods are loaded and unloaded (e.g., by loading and unloading personnel or baggage handlers), mixed, and separated at various locations, they may be damaged during transport.

[0076] Therefore, import / export transactions can be complex because various contractual terms may be in effect at any given time. Trade finance documents can be electronically linked to inventory management and / or shipment management devices so that when updated inventory or shipment information is received, or when updated inventory or shipment information is received after a period of time, the update message is transmitted via the link to an encrypted sequence of records.

[0077] In some embodiments, a blockchain system may allow all parties involved in trade finance to update conditions and / or documents on the blockchain under certain circumstances. In some cases, this allows near real-time status of the trade finance process (considering blockchain transmission delays, etc.) to be available to any number of participants involved in the process.

[0078] In traditional trade finance processes, physical bills of lading and other document parameters must be verified by the person who initiates and / or physically signs the specific documents containing limited information (e.g., commodity characteristics, condition of the shipping route, and quantity).

[0079] In contrast, the distributed nature of blockchain allows all parties access to each block within the blockchain. In some cases, unlike traditional trade finance processes, blockchain systems may involve privacy and data access control issues that are not apparent in traditional processes.

[0080] In some embodiments, while maintaining the distributed nature and blockchain accessibility, various aspects of the system can provide electronic protection parameters for the trade finance blockchain, so that the trade finance blockchain can only be accessed by specific parties.

[0081] Embodiments of the methods, systems, and apparatus are described with reference to the accompanying drawings.

[0082] The following discussion provides several example embodiments of the inventive subject matter. Although each embodiment represents a single combination of inventive elements, the inventive subject matter is considered to include all possible combinations of the disclosed elements. Thus, if one embodiment includes elements A, B, and C, and another embodiment includes elements B and D, then even if not explicitly disclosed, the inventive subject matter should be considered to include other remaining combinations of A, B, C, or D.

[0083] like Figure 7 As shown, a centralized system may include manual record keeping and records signed by relevant parties. Maintaining accurate records is crucial not only for determining whether contractual terms have been properly fulfilled, but also for determining when and where the breach occurred, and which party is responsible for the breach, should the contractual terms be breached. Figure 7 Centralized systems in the context of this issue may face challenges in tracking such violations due to the lack of an updated ledger that stores records of interactions, which may consequently make it difficult to determine which party is responsible for suboptimal outcomes.

[0084] Figure 1 According to some embodiments, a block diagram of an example system 100 based on blockchain smart contracts is shown.

[0085] System 100 is adapted to provide an electronic document platform. System 100 includes, for example, distributed electronic ledgers, each storing at least one encrypted linked sequence of records. One potential benefit of the electronic document platform of System 100 may be that customers can transact more efficiently and securely within the system, accessing their trade transaction information in real time (or near real time). From a transaction process perspective, the letter of credit verification process can be simplified, and the number of times letters of credit need to be processed can be reduced.

[0086] Regarding importers and exporters, use as... Figure 1 In the systems shown, they may have various types of objectives. For example, importers and exporters may have an incentive to achieve the following:

[0087] • Manage business contracts and agreements during the digitalization process, including creation, verification, tracking, and approval;

[0088] • Automatically validates the terms provided in the import / export agreement;

[0089] • Real-time execution of contract terms; ability to track life events that impact import / export transactions.

[0090] • Ensure transparent, real-time access to data related to global trade transactions;

[0091] • Provides an accelerated cycle for the entire import / export operation;

[0092] • Ensure the trust, security, and compliance of all import / export operations; and

[0093] • Reduce risks related to finance, counterparties, and documentation.

[0094] The notifying bank and the issuing bank may be motivated to achieve the following:

[0095] •Automate and digitize import / export operations;

[0096] • Reduce reliance on manual review, preparation, and processing of trade documents;

[0097] • Eliminate discrepancies / errors in letters of credit by agreeing on terms and conditions between importers / exporters online;

[0098] • An inline negotiation device that allows both parties to confirm, reject, and request terms regarding credit details before involving the bank partner;

[0099] • Reduce operational overhead during document creation, acceptance, and verification;

[0100] • By eliminating acceptance deadlines, the time required for creating, accepting, and verifying the necessary documents in import / export agreements is accelerated;

[0101] • Provisions ensuring secure transfer and non-repudiation of import / export operations;

[0102] • Provides immutable trade finance instruments, securely coded and authenticated in the ledger;

[0103] • Provides immutable auditing and tracking of the entire trade / financial process;

[0104] • Provides real-time reconciliation and settlement of recorded transactions; and

[0105] • Reduce risks related to finances, documentation (disputes), and fraud.

[0106] In some embodiments, System 100, described below, provides a blockchain-based contract system adapted to compute oversight, tracking, and / or auditing of one or more contracts represented by trade finance documents. System 100 may be provided in a decentralized architecture; a decentralized architecture manages the trade finance processes of import / export transactions by providing a distributed, private blockchain ledger network to all supply chain partners. System 100 may encode the record-keeping instruments of trade finance existing in the blockchain network as smart contracts / agents.

[0107] As shown in System 100, because documents exist in various forms in a distributed ledger, digital documents and trade finance instruments are verified, immutable, and traceable throughout their entire lifecycle. There may be stringent regulatory requirements regarding the regulations and / or use of trade finance instruments. The requirements for the accuracy, reliability, and auditability of such instruments are increasingly stringent.

[0108] A decentralized contract system based on blockchain 100 can offer potentially beneficial features, such as: secure, immutable storage of letters of credit; automated processing of unstructured documents and metadata extraction, etc. By traversing the blockchain, operators and / or entities may be able to perform verification, transparent process tracking, and / or reporting.

[0109] Entities may be able to facilitate operations more efficiently, for example, by eliminating and / or reducing various forms of manual processing, reducing incomplete verification, and / or by enabling secure and up-to-date tracking of various databases and records to mitigate risks involved in various transactions. System 100 can be configured to provide different levels of access so that, for example, administrators and / or auditors can access the system by traversing entries without altering the generated self-reports, which are based on actual, immutable record data stored on the distributed ledger.

[0110] Each one or more contracts can be represented by a sequence of records with cryptographic links corresponding to the contract, and the sequence of records with cryptographic links corresponding to one or more contracts are all linked to each other.

[0111] The distributed electronic ledger is stored on distributed computing nodes 106a-106p, each of which is a computing device with a processor and a computer-readable medium storing machine-readable instructions. Nodes 106a-106p can be adapted to associate with various types of organizations and / or computing systems. For example, such organizations may include financial organizations (e.g., banks), insurance organizations (e.g., transportation insurance), public carriers, shipping companies, port companies, managers, etc. Computing systems may include inventory management systems, shipment and / or delivery tracking systems, stock-quantity unit (SKU) databases, etc.

[0112] Each distributed computing node 106 can be configured as a host for a distributed ledger corresponding to the distributed computing node. The distributed ledger is adapted to implement a blockchain, where computational rules and / or conditions are used to determine how the blockchain interacts with various record entries, queries, etc. For example, the distributed computing node 106 can be configured to apply a set of rules adapted to control modifications to a sequence of records with at least one cryptographic link.

[0113] Modifications made on a single distributed computing node will be synchronized to other distributed computing nodes linked to that single distributed computing node.

[0114] The distributed computing node 106 is configured to receive electronic information from one party to a transaction, which consists of form field objects representing the characteristics and changes of trade finance documents.

[0115] When the distributed computing node 106 receives such information, it can be configured to encapsulate the information to generate an information block. This new information block can be cryptographically linked to an existing block in the record sequence.

[0116] When a new information block represents a new sequence of records, the new information block is adapted to include at least the electronic information received from one party to the transaction, and a new sequence of records may begin (e.g., a new blockchain may begin with a new contract or document).

[0117] A set of rules includes one or more consensus rules. When a consensus rule is applied, the transmission of the corresponding modification is restricted, except when the first modification is made to the longest linked sequence of records stored in multiple electronic ledgers to reach a majority consensus.

[0118] System 100 can be used to track changes to contract terms during contract negotiation. When monitoring and / or tracking contract performance, contracts can be tracked at the item and / or clause level to determine whether various items and / or clauses are being met.

[0119] Furthermore, contracts can be "signed" by using various mechanisms to track the performance of authorized signatures and / or manual instructions. Configurable distributed computing nodes 106 can apply various conditions and trigger points to determine the contract's status (e.g., fully performed, partially performed, in progress, breached). Examples include: incorrect delivery order of goods, goods may be damaged in transit, incorrect temperature (e.g., spoilage), dampness, incorrect labeling, missing items, incorrect shipping terms, etc.

[0120] It can connect to distributed computing nodes 106 (e.g., via a programming interface application) for robust and stable tracking of shipments, imports, and / or exports. Personal electronic signatures can be tracked, and conditions can be compared with records stored in an external database, such as an inventory system.

[0121] The encrypted linked record sequence can be configured to enable blockchain-type technology to establish relationships between stored records, and the collected records and sequences form various distributed ledgers stored on a distributed set of nodes.

[0122] The aforementioned nodes are computing devices that maintain the ledger stored within them and modify the ledger based on a clearly defined set of logical rules. Based on these rules (e.g., consensus update rules), changes are propagated throughout the ledger, and cryptographic techniques can be used to determine how and when changes should be propagated.

[0123] Encryption techniques may also be used to obfuscate and / or control access to information stored in the distributed ledger. In some embodiments, various levels of permission and access can be established by using combined keys and / or encryption techniques that allow the use of multiple keys and / or keys with different permission levels and / or capability levels (e.g., read / write and their limitations).

[0124] For example, the linked record sequence can be traversed in various ways to analyze the distributed ledger using a variety of reporting, auditing, tracing and / or monitoring techniques.

[0125] In one embodiment, a tool is used to traverse a sequence of records of at least one encrypted link to determine whether one or more conditions are met; and upon determining that one or more conditions are met, a notification representing successful or unsuccessful completion is generated. The aforementioned tool can also be used to track the status of import / export contracts in real-time or near-on-site to determine progress and / or compare progress against various metrics. For example, when an electronic signature is required, it can be associated with triggering conditions, including characteristics associated with trade finance documents.

[0126] Multiple distributed computing nodes 106a-106p may contain multiple groups of one or more distributed computing nodes, each group having a corresponding set of rules for controlling access to information stored on a sequence of records in an encrypted link, the corresponding set of rules controlling access related to the privacy level associated with each group.

[0127] On the other hand, multiple distributed computing nodes contain multiple groups of one or more distributed computing nodes, each group having a corresponding set of rules for controlling modifications to information stored on a sequence of records in an encrypted link, the corresponding set of rules controlling modifications related to the modification level associated with each group.

[0128] When reporting is required on the distributed ledger, computing node 106a can be used to perform one or more electronic queries on the information stored on the encrypted linked record sequence. For example, one or more electronic queries include access queries for at least one of record integrity, condition fulfillment, and record accuracy. On the other hand, one or more electronic queries include queries to generate one or more reports, the generation of which is based at least on a comparison between characteristics stored on the at least one encrypted linked record sequence and information stored on (i) an inventory management device or (ii) a shipping management device. On the other hand, one or more electronic queries include queries to perform one or more audits of trade finance documents.

[0129] Therefore, system 100 can provide various benefits to entities conducting transactions related to the distributed ledger stored on computing nodes 106a-106p. For example, entities may be able to obtain real-time or near-real-time access to funds, and real-time clearing and settlement may be possible due to the consensus process involved in distributed ledger updates. Import / export processes may be more automated, and external databases can be monitored to increase reliability. Operational efficiency can be improved by eliminating manual processing, and due to the accessibility of the distributed ledger, there may be complete end-to-end transparency among participants, including, for example, real-time access to trade information of all or some of the relevant parties.

[0130] The provision of various rules, trigger points, and conditions facilitates automated execution between trading parties, thereby reducing and / or eliminating coordination and operational overhead. Because distributed ledgers can store records that are cryptographically linked to each other in the form of record blocks, contract information may be difficult and / or virtually impossible to modify, allowing for irreversible contracts to be executed only when predefined terms are fulfilled, thus minimizing and / or eliminating counterparty risk.

[0131] Figure 2 According to some embodiments, an example of certificate 200 is shown. Certificate 200 provides, for example, various informational elements that can be used to update records stored on a distributed ledger.

[0132] Figure 3 According to some embodiments, an example of an application 300 for a letter of credit is shown. As shown in application 300, the letter of credit may have various form field objects, which can be machine-interpreted after an individual completes the application. Form field objects may include, for example: the full names and addresses of the contracting parties, contract information, currency, expiry date, origin and destination of shipment, terms, container shipment, whether partial shipments are permitted, etc. In some embodiments, additional features such as whether a forward contract and credit guarantee are used may be included.

[0133] Figure 4 According to some embodiments, examples of letters of credit 400 with various characteristics are shown. Figure 4 An example of a Chinese Letter of Credit 400 may show that the letter of credit is revocable, has the required items, includes the required accompanying documents, specifies whether installment drawdowns are allowed, has extended terms, and applies standby letter of credit practices. A signature is required and / or attached to the Letter of Credit 400.

[0134] Figure 5 According to some embodiments, another example of a guarantee for a letter of credit 500 is shown. The letter of credit 500 may include transaction information and may also be related to… Figure 4 The examples are similar and also include various features and terms. The aforementioned Letter of Credit 500 is provided in the form of a SWIFT transaction system guarantee.

[0135] Figure 6 According to some embodiments, an example flowchart 600 of the process of providing a letter of credit is shown. As shown in 600, various combinations of characteristics may occur, which can affect the level of security and payment speed associated with the transaction.

[0136] Figure 7 Example flowchart 700 for providing the process of contracting, managing transactions, and / or storing trade documents. Figure 7 As shown, a centralized system can be used, in which information about payment, operation, and trade systems can be received, processed, and analyzed. Figure 7 Centralized systems can be paper-intensive processes, and the lack of automation and standardization forces entities to bear significant daily expenses and rising costs. Figure 7 Document verification processes can be inefficient, error-prone, and reliant on manual intervention (e.g., lost documents, incorrect terms, and incorrect product descriptions). When using centralized systems, multiple peer-to-peer connections may be required, and siloed systems may present risks associated with information flow.

[0137] Figure 8 According to some embodiments, an example flowchart 800 of a process for implementing a blockchain-based distributed ledger is shown. Figure 1 As shown, the blockchain ledger in 800 can be provided in the form of a distributed ledger stored on various nodes 106a-106n.

[0138] Figure 9 This is an example of a block diagram 900 illustrating example node 106a. Nodes 106a-106p provide a decentralized, peer-to-peer, secure network, offering ledger nodes to trading partner banks (issuing banks, advising banks, confirming banks, etc.) in a closed-loop, permissioned environment. The number of nodes may vary; for example, system 100 may scale nodes up or down under load to handle various request rates. Nodes 106a-106p may also be tracked to provide real-time (or near real-time) monitoring of system 100, ensuring high availability and the ability to react to and prevent system failures. Node 106a may consist of one or more units provided by various computing embodiments, such as a combination of hardware, software, and / or embedded firmware. For example, node 106a and its units may be implemented using servers, processors, computer-readable storage devices, and storage devices. In some embodiments, node 106a may be provided by distributed resources (e.g., implemented via "cloud computing").

[0139] Node 106a may consist of multiple units, including an information extraction unit 902, an encryption unit 904, a block tracking unit 906, a blockchain rule engine 908, a blockchain database 916, a storage unit 920, and a blockchain storage unit 922. Node 106a can be configured to interact with an interface unit 910, which may be, for example, a user system and / or any type of automated system capable of performing various blockchain-related activities (e.g., an inventory system and / or a shipping system) (e.g., connected via an application programming interface (API)). For example, interface unit 910 may be a financial institution's computing device that instructs contracts to be added to the blockchain ledger. Interface unit 910 may provide this information to information extraction unit 902 via network 950.

[0140] The configurable information extraction unit 902 can extract various information elements from information sources, such as contracts, transaction records, documents, financial statements, and inventory systems. These information sources can provide information in the form of electronic documents or other forms of evidence.

[0141] In some embodiments, the information extraction unit 902 is configured to anonymize and / or edit the information, and / or extract only a subset of information relevant to a specific purpose. This information may be stored in the memory 920.

[0142] Cryptographic unit 904 is configured to encrypt and / or otherwise transform the information provided by information extraction unit 902, for example, by applying multiple encryption algorithms and / or techniques to extract information elements (e.g., public / private key encryption). In some embodiments, cryptographic unit 904 may be configured to generate information that can be used to form and / or generate one or more blocks to be inserted into and / or added to the blockchain. In some embodiments, cryptographic unit 904 may utilize various combinations and / or versions of keys to provide different levels of access and / or modification capabilities. For example, some keys may only indicate read access, while other keys may allow modification. In some embodiments, it may be necessary to use multiple keys together to permit modification or access.

[0143] The configurable block tracking unit 906 maintains relationships and / or associations used to identify the relationships between blocks and / or the characteristics of various blocks (e.g., identifying what information is associated with each block).

[0144] The blockchain rule engine 908 can be configured to maintain and update one or more blockchains. It can be configured to, for example, apply, execute, and update various rules and / or logic associated with the blockchain. For example, rules can be associated with consensus requirements such as updating blocks, adding and / or deleting blocks, validating new blocks, and rejecting new blocks. Rules can be stored on storage 920 or blockchain storage 922. The blockchain rule engine 908 can operate in conjunction with the terms of various trade finance contracts, for example, by triggering various events only when certain conditions are met or trigger points are established.

[0145] The blockchain storage device 922 can be configured to store information associated with the blockchain, such as the blockchain ledger, blockchain entry points, information stored on various blocks, links between blocks, and rules associated with the blockchain. Storage devices 920 and / or blockchain storage devices 922 can use various types of storage technologies, such as solid-state drives, hard disk drives, and flash memory, and can also use various storage formats, such as relational databases, non-relational databases, flat documents, spreadsheets, and extended tag files. Figure 10 This is an exemplary set of features that may be provided by blockchain functionality, according to some embodiments.

[0146] Figure 11 As an example of a possible system diagram, the system diagram illustrates how System 100 is implemented within the context of an organization's computing system. For example... Figure 11 As shown, users can utilize various interface elements to import and / or export information from various aspects via access channels (such as mobile or online interfaces).

[0147] A security layer can be used for various aspects of authentication, identification management, access permission authorization, and login execution (e.g., for auditing purposes). Users can utilize the interface to, for example, publish information for modifying various records stored on the distributed ledger (e.g., by generating a new record block to be added to the distributed ledger) or perform queries based on the traversal and / or analysis of information stored on the distributed ledger (e.g., generating reports).

[0148] Distributed applications can be used to perform a variety of tasks. They interact with various layers, such as legal agreement layers and smart contract layers. These layers can track version control, template management (e.g., template clauses), contract metadata, and more.

[0149] The aforementioned layers can interact directly with the blockchain ledger through an application programming interface (API), compressing various instructions and encoding them in the form of blockchain-specific commands (e.g., adding a new record to the blockchain, traversing records stored on the blockchain). The blockchain ledger is configured to receive various instructions and / or commands and operate according to these instructions and commands by applying various ledger permission sets, encryption, and signing. The blockchain ledger is adapted to manage stored keys (e.g., multiple keys can be used to require a minimum number of signatures, signature consistency, and different access levels).

[0150] Blockchain ledgers can apply various cryptographic technologies, such as consensus proofs that track and / or maintain work. Blockchain ledgers can also track the number and characteristics of the nodes provided, such as the reliability and / or uptime associated with a node, and the characteristics and number of connections between nodes.

[0151] The aforementioned layer may be integrated with a blockchain integration gateway, which can provide various types of services for interacting with downstream components, such as customer profiles, payment systems, fraud detection programs, comparison reference data databases, and document management databases.

[0152] The layers can provide various features, including a distributed system where distributed applications can leverage event-driven design to clearly separate business logic from technical issues (security, login, etc.) to help control application complexity and promote continuous maintainability. The modularity of distributed applications can help provide a clear structure of contractual operations and a clear description of past events (transactions) and future events (contracts).

[0153] Each layer is adapted to perform dynamic, specific, and complex queries (joins, aggregations, filtering, etc.) on a resilient and fault-tolerant platform. Various connections and communication links can be established to support both synchronous and asynchronous communication, and in some embodiments, non-blocking application programming interfaces (APIs) can be supported to ensure system decoupling.

[0154] Figure 12 An example information model diagram is shown, illustrating some variables and / or characteristics that System 100 might track. Information can be tracked in the form of data stored in a distributed ledger, metadata, etc. Because records themselves may be cryptographically linked together, once a record is provided to the distributed ledger, the record stored therein may be difficult and / or virtually impossible to change.

[0155] As provided by the information model, its elements may include:

[0156] 1. Seller / Beneficiary: The full company name and address of the seller / beneficiary.

[0157] 2. Amount: The actual amount of the seller's letter of credit. "Approximately," "about," or "around" may also be used to indicate an acceptable stated amount with a fluctuation range of 10%.

[0158] 3. Validity period: This may include the time for shipment and preparation of required documents.

[0159] 4. Seller's Bank: If applicable, the seller may list its advising bank and reimbursing bank. The reimbursing bank is the local bank designated by the issuing bank as the payment bank.

[0160] 5. Payment options availability: The buyer and seller may agree to use sight drafts, original drafts, or some form of deferred payment mechanism.

[0161] 6. Required documents: Documents specified by the buyer (e.g., bill of lading, commercial invoice, certificate of origin, analysis certificate, etc.).

[0162] 7. Notification Address: The address to which the goods arrive at their destination (e.g., port, airport).

[0163] 8. Product Description: The seller shall provide a brief and accurate description of the product and the quantity involved.

[0164] 9. Confirmation Letter: Among many banks, the seller may wish to have the letter of credit confirmed by a bank in their home country.

[0165] As noted, files may include, for example, the following:

[0166] 1. Invoice: An invoice issued for goods and services. The invoice includes a description of the goods, price, shipping terms (e.g., FOB (Free On Board) pricing at country of origin), and the name and address of the buyer and seller.

[0167] 2. Bill of Lading: A document describing the receipt of shipped goods, issued by a freight forwarder or freight carrier engaged in freight forwarding or transporting goods.

[0168] 3. Warranty of Title: The seller's stated rights to the buyer regarding the transfer of the goods are valid and the transfer of those rights is legal.

[0169] 4. Guarantee of Indemnity: This document indemnifies the purchaser for a specified circumstance. Indemnity is typically used to guarantee that shipping documents will be in good order when valid.

[0170] In some embodiments, the letter of credit blockchain may include one or more contractual terms as parameters and / or conditions to enable subsequent terms to be satisfied and / or to indicate the completion and / or failure of the letter of credit.

[0171] Figure 13 An example workflow is shown where the buyer / applicant opens a letter of credit contract, and a blockchain distributed ledger is used to generate a sample letter of credit after several verification steps. In this example, the following parties might be involved:

[0172] • Applicant (Buyer): The bank issues a letter of credit at the applicant's request.

[0173] • Beneficiary (Seller): The beneficiary is entitled to payment as long as the required documentation is provided under the letter of credit.

[0174] • Issuing Bank: The bank that issues the letter of credit on behalf of the applicant (buyer). Also known as the issuing bank. The issuing bank guarantees payment on the due date.

[0175] • Advising Bank: This is usually a bank in the seller's country. The advising bank's task is to reasonably verify the authenticity of the letter of credit and notify the seller according to instructions.

[0176] • Confirming Bank: A bank that confirms a letter of credit for the beneficiary. It is usually an advising bank.

[0177] Signing, modification, and contract review (e.g., by the issuing party) are based on records stored on a blockchain distributed ledger. The issuing party's signature can be tracked by the blockchain distributed ledger.

[0178] After the issuing party signs, a notification can be generated and provided to the notifying bank, which then provides the notification to the seller / beneficiary. The seller / beneficiary's signature can be tracked and applied, potentially providing a payment request, in which case the seller / beneficiary's signature can be applied to the blockchain distributed ledger. After applying various rules in the blockchain distributed ledger (and its associated rules), a notification can be issued, which can provide the requested payment.

[0179] In some embodiments, receiving a signature may be represented by a request to record a transaction on a distributed ledger on a node. The transaction includes a private key associated with the file of the party requiring the signature. In some embodiments, the transaction includes an indication that the transaction is a signature. In some embodiments, the transaction may include a digital signature or an image of a signature from the party requiring the signature.

[0180] Various verifications can be performed by the notifying bank, such as:

[0181] • The letter of credit has not expired;

[0182] • Documents were not submitted by the deadline;

[0183] • File lost;

[0184] • Document issuance error;

[0185] • The name does not match the name in the letter of credit;

[0186] • Inconsistent product descriptions: quantity, quality;

[0187] • The delivery date on the bill of lading is either before or after the delivery date range of the letter of credit;

[0188] • The invoice amount does not match the bill amount;

[0189] • The invoice was unsigned, in accordance with the terms of the letter of credit;

[0190] • Shipment time is later than the stipulated shipment time; and

[0191] • Incorrect shipping details (e.g., loading / unloading at the wrong port, not using the specified vessel, issuing the wrong order; showing partial shipments or transshipments (if not permitted in the terms); not packing / marking according to the terms) etc.

[0192] When a letter of credit is approved, payment is disbursed from the buyer's issuing bank to the seller's account, and the documents are also issued to the buyer by the issuing bank. If the letter of credit is not approved by the buyer, the buyer and seller may need to continue further negotiations. In any case, the letter of credit is updated and recorded in the aforementioned ledger.

[0193] Figure 14 According to some embodiments, an example of workflow 1400 is shown, which illustrates a sampling method.

[0194] An example of workflow 1400 can be performed on a system that provides, for example, an electronic document platform comprising at least a plurality of distributed electronic ledgers, each of which stores at least one encrypted linked sequence of records. The system includes: a plurality of distributed computing nodes, each of which includes: a processor and a computer-readable medium in which computer-readable instructions are stored.

[0195] When the processor executes stored machine-readable instructions, at 1402 the processor is configured as the host of the distributed ledger corresponding to the distributed computing nodes.

[0196] In 1404, distributed computing nodes can apply a set of rules to manage modifications to a sequence of records of at least one cryptographic link, wherein modifications made to a single distributed computing node are synchronized to other distributed computing nodes linked to that single distributed computing node.

[0197] In 1406, a distributed computing node can receive electronic information from one party in a transaction, consisting of form field objects that represent the evidentiary characteristics and changes of trade finance documents.

[0198] In 1408, a distributed computing node can generate a new information block that is cryptographically linked to an existing block in the record sequence, or represents a new record sequence, which is adapted to include at least electronic information received from one party to the transaction.

[0199] Figure 15 According to some embodiments, an example of a workflow 1500 is shown, illustrating aspects of an example method for managing conditions of electronic trade finance transactions. In some embodiments, aspects of this method may be implemented by one or more nodes 106. In some embodiments, aspects of this method may be implemented by one or more processors at node 106 and / or other locations in system 100.

[0200] At 1502, a request to create a new letter of credit is received by one or more processors at node 106 or elsewhere in system 100. In some embodiments, the letter of credit request identifies a number of parameters for the letter of credit. Parameters may include, but are not limited to: type of goods, quantity, shipper parameters, shipping terms, shipping route, date / expiration date, etc. In some embodiments, parameters may be identified as text, numbers, or enumerated values ​​of one or more fields. In some embodiments, parameters may be linked to or otherwise include text and / or images of an actual document defining the parameter. In some embodiments, parameters may provide shipping information that can be verified / verified by one party by recording the transaction on a distributed ledger.

[0201] In some embodiments, a letter of credit request may include one or more identifiers to identify one or more parties that may be involved in the letter of credit. For example, in some embodiments, parties may include the applicant / buyer, the issuing party, the advising bank, the beneficiary / seller, the carrier, the operator, customs / inspection entity, etc.

[0202] In some embodiments, a party’s file may include files associated with the carrier, stevedore, vessel, port, customs broker, warehouse, inspector, etc.

[0203] In some embodiments, a letter of credit request may include one or more conditions of the letter of credit. In some embodiments, these conditions are associated with a file of one or more parties. In some embodiments, the parties corresponding to the file are authorized to access the conditions and / or record transactions to verify whether the conditions are met. In some embodiments, the conditions include, but are not limited to: the party signing the document, the party handling the goods to verify the type / quantity / condition / location / ownership, etc.

[0204] At 1504, one or more processors at node 106 or elsewhere in system 100 retrieve the public key associated with the party profiles related to the conditions in the letter of credit request. In some embodiments, the public key may be stored in a database of system 100. In some embodiments, the public key may be managed by a certification authority. In some embodiments, the public key may be stored and / or managed by one or more trustees, such as financial institutions.

[0205] In some embodiments, one or more processors generate public-private key pairs for all party files associated with the condition. In some embodiments, one or more processors generate public-private key pairs for each party file for which the public key is no longer available. The one or more processors then communicate the private key to the party, such as an address, account, or device associated with the party file.

[0206] In 1506, one or more processors generate blocks on a distributed ledger on a node. In some embodiments, one or more processors create a new distributed ledger for each new letter of credit. In some embodiments, one or more blocks are associated with corresponding conditions of the letter of credit. In some embodiments, each block is influenced and / or encrypted with a public key, which corresponds to the party file associated with the conditions corresponding to the block. In some embodiments, blocks are encoded with a public key to require a private key to record a transaction relative to that block.

[0207] In some cases, blocks are ordered such that earlier blocks in the chain must be satisfied before subsequent blocks in the chain can be satisfied (e.g., a recorded transaction). In some embodiments, this can encapsulate the conditions for sequential satisfaction. For example, the condition for verifying that goods have arrived at their destination must be met before the condition for verifying that goods have been loaded onto the ship at their original location can be met. In some embodiments, the sequential condition can be encapsulated using a concatenated hash of the key.

[0208] In some instances, blocks can be arranged in parallel or tree structures so that conditions can be satisfied within a parallel structure. In some instances, the blocks can be arranged in any combination of serial, parallel, tree, or other arrangements.

[0209] In 1508, after a block is generated at the distributed ledger of the first node, the processor at the first node generates a signal to initiate the transmission of the block to the remaining nodes.

[0210] In some embodiments, after a block has been generated at the distributed ledger of the first node, the initial condition requires the requesting party, such as the applicant and / or issuer, to provide verification / confirmation / signature to prove that the distributed ledger instance reflects a letter of credit. In some embodiments, this condition is encapsulated in an initial block of the distributed ledger. In some embodiments, the initial condition may or may not be met before the distributed ledger is transmitted at 1508.

[0211] Figure 16 According to some embodiments, an example workflow 1600 is shown, illustrating aspects of an example method for managing conditions of electronic trade finance transactions. In some embodiments, aspects of this method may be implemented by one or more nodes 106. In some embodiments, aspects of this method may be implemented by one or more processors at node 106 and / or other locations in system 100.

[0212] In some embodiments, Figure 16 Various aspects of the Chinese method can be found in the discussion on Figure 15 The various aspects of the discussion will take place later.

[0213] At 1610, one or more processors at node 106 or elsewhere in system 100 receive a request to record a transaction associated with a block in the distributed ledger. In some embodiments, the request indicates that at least a portion of the conditions associated with the block have been met. In some embodiments, the request includes, or otherwise utilizes, recording the transaction using a private key.

[0214] In step 1612, after verifying the correspondence between the private key and the block's public key, the transaction is recorded on the distributed ledger. In some embodiments, the verification of the private key and the recording of the transaction are a single step, wherein the recording will fail if the key is incorrect.

[0215] In some embodiments, a transaction may indicate that a condition has been met. In some embodiments, a transaction may also indicate that a condition has not been met.

[0216] In some embodiments, a transaction may represent the partial fulfillment or partial non-fulfillment of a condition. For example, if one party verifies that part of the goods have arrived at a location, a transaction request may represent the partial fulfillment of that condition, and be encapsulated in a subsequent block based on the quality of the goods that have not yet been delivered as a new condition. In some embodiments, a new subsequent block may be generated using the public key of the same party recording the transaction or the public key of any other party that may be associated with the condition.

[0217] In another instance, if some or all of the intended goods are lost or damaged during shipment, the transaction may indicate that the conditions have not been met in part or in whole.

[0218] In another example, a transaction can trigger the creation of a new block. For instance, in some embodiments, a party may participate in a shipping process, and the transaction may represent a change in the route of goods. This situation triggers the generation of a new block and / or a new branch of a block in the distributed ledger. For example, the new block may encapsulate conditions associated with a new shipping process, such as arrival at a different port, verification / processing by a different carrier, loader / unloader, etc.

[0219] In some embodiments, the initial new block may require authorization from the issuing party, buyer, seller, and / or other party to verify changes in the shipment process approved by one party.

[0220] At 1614, the processor generates a signal to initiate the transmission of transactions and / or new blocks to the remaining nodes.

[0221] In 1616, when the distributed ledger at a node associated with the issuer, notify party, or other party holding funds is in a state where each block and its corresponding conditions are met, the node generates a trigger signal to initiate the disbursement or transfer of funds based on the letter of credit parameters.

[0222] In some embodiments, the trigger signal is a communication message that notifies one party that the conditions have been met and funds can be transferred.

[0223] In some embodiments, the trigger signal is an instruction or other signal that automatically triggers the transfer or disbursement of funds.

[0224] In some embodiments, when the distributed ledger at the node associated with the fund holder is in a state where one or more conditions are not met, the node generates a trigger signal to transmit the fault to one or more parties.

[0225] In some embodiments, when the distributed ledger at the node associated with the fund holder indicates the partial fulfillment of one or more conditions, the node may generate a trigger signal to initiate a partial disbursement or transfer of funds based on letter of credit parameters.

[0226] In some embodiments, a distributed ledger can be a public ledger accessible to all nodes in a system and stored and / or maintained by all nodes. In some embodiments, a node may receive status requests and may also be configured to query the ledger to identify and report the status of various conditions of recently recorded transactions and / or letters of credit.

[0227] In some embodiments, the public nature of the ledger can pose technical challenges when multiple aspects of different blocks contain sensitive information. For example, stevedores loading and unloading ships may not want complete access to information about commodity charges or trading parties and bank account information.

[0228] In some embodiments, the processor of a node 106 that creates a distributed ledger or a new block may be configured to encrypt parameters associated with one or more blocks or letters of credit as a whole using one or more encryption keys.

[0229] In some embodiments, the encryption key used to encrypt parameters may be based on the access level associated with a particular block or parameter. In some embodiments, the block associated with the shipping process may only include parameters accessible to the shipping process operator. For example, the loader or shipping process operator may only have access to information about the product description, quantity, shipping route, and location.

[0230] In some embodiments, financial and fee information may be available only to the financial party and the buyer or seller. Therefore, blocks relating to the above parameters may include only the necessary parameters accessible to the relevant parties.

[0231] In some embodiments, the parameters of a particular block can be encoded using the public key of a party's file associated with that block. Therefore, a party may only be able to decrypt its own block and read the parameters within it.

[0232] In some embodiments, parameters may be encoded using a set or class of keys. For example, a shipping process operator may have a shared key that can decrypt any block parameters associated with shipping process conditions.

[0233] In some embodiments, the financial institution, the buyer, and / or the seller may have a shared key that can decrypt any block parameters associated with the financial conditions. In some embodiments, the parties may also have a shipping process operation key so that they can monitor the shipping process.

[0234] Overview

[0235] The embodiments of apparatus, systems, and methods described herein can be implemented in a combination of hardware and software. These embodiments can be implemented on a programmable computer, each computer including at least one processor, a data storage system (including volatile or non-volatile memory or other data storage elements or combinations thereof), and at least one communication interface.

[0236] Program code is applied to input data to perform the functions described herein and generate output information. This output information is applied to one or more output devices. In some embodiments, the communication interface may be a network communication interface. In embodiments where elements can be combined, the communication interface may be a software communication interface, such as a software communication interface for inter-process communication. In other embodiments, combinations of communication interfaces may be implemented as hardware, software, or combinations thereof.

[0237] Throughout the foregoing discussion, the terms server, service, interface, entry point, platform, or other system formed by computing devices will be referenced multiple times. It is important to understand that the use of such terms should be understood to represent one or more computing devices having at least one processor configured to execute software instructions stored on a computer-readable, tangible, non-transitory medium. For example, a server may include one or more computers operating as a network server, data server, or other type of computer server to perform the described tasks, responsibilities, or functions.

[0238] The technical solutions of the embodiments may be presented in the form of a software product. This software product can be stored on a non-volatile or non-transitory storage medium, such as a laser disc read-only memory (CD-ROM), a universal serial bus (USB) flash drive, or a removable hard disk. The software product includes several instructions that enable a computer device (personal computer, server, or network device) to execute the methods provided in the embodiments.

[0239] The embodiments described herein are implemented using physical computer hardware, including computing devices, servers, receivers, transmitters, processors, memory banks, displays, and networks. The embodiments described herein provide useful physical machines and specially configured computer hardware configurations. The embodiments described herein are directed to electronic machines and methods implemented using electronic machines adapted to process and convert electromagnetic signals representing various types of information.

[0240] The embodiments described herein are generally and holistically related to machines and their use; and the embodiments described herein have no meaning or practicality other than being used with computer hardware, machines, and various hardware components. Various physical hardware alternatives to specific configurations for implementing non-physical hardware operations, such as using thought processes, can substantially affect the way the embodiments work. Such computer hardware limitations are clearly fundamental elements of the embodiments described herein and cannot be ignored or substituted for thought processes, without substantially affecting the operation and structure of the embodiments described herein. Computer hardware is essential for implementing the various embodiments described herein, and its use is not merely for the purpose of performing steps quickly and efficiently.

[0241] Although the above embodiments have been described in detail, it should be understood that various changes, substitutions and modifications can be made to this document.

[0242] Furthermore, the scope of this application is not limited to individual embodiments of the processes, machines, manufactures, material compositions, means, methods, and steps described in the specification. As will be readily understood by those skilled in the art from existing or undeveloped disclosures, processes, machines, manufactures, material compositions, means, methods, or steps, the same functions as the corresponding embodiments described herein or the same results as the corresponding embodiments described herein can be achieved.

[0243] It is understood that the above examples are for illustrative purposes only.

[0244] Figure 17 This is a schematic diagram of a computing device 1700, an example of one embodiment. As shown, the computing device 1700 includes at least one processor 1702, a memory 1704, at least one I / O interface 1706, and at least one network interface 1708.

[0245] Each processor 1702 can be, for example, any type of general-purpose microprocessor or microcontroller, digital signal processing (DSP) processor, integrated circuit, field-programmable gate array (FPGA), reconfigurable processor, programmable read-only memory (PROM), or any combination thereof.

[0246] The memory 1704 may include any suitable combination of computer memories of any type, located inside or outside the computer, such as, for example, random access memory (RAM), read-only memory (ROM), laser disc read-only memory (CD-ROM), electro-optical memory, magneto-optical memory, erasable programmable read-only memory (EPROM), electrically erasable programmable read-only memory (EEPROM), ferroelectric random access memory (FRAM), or the like.

[0247] Each I / O interface 1706 enables the computing device 1700 to connect to one or more input devices, such as a keyboard, mouse, camera, touch screen, and microphone, or enables the computing device 1700 to connect to one or more output devices, such as a display screen and speakers.

[0248] Each network interface 1708 enables the computing device 1700 to communicate with other components, exchange data with other components, access and connect to network resources, serve applications, and execute other computing applications by connecting to a network (or multiple networks) capable of carrying data. This network (or multiple networks) includes the Internet, Ethernet, POTS lines, the Public Switched Telephone Network (PSTN), Integrated Services Digital Network (ISDN), Digital Subscriber Line (DSL), coaxial cable, fiber optic, satellite, mobile networks, wireless networks (e.g., Wi-Fi, WiMAX), SS7 signaling networks, fixed-line networks, local area networks (LANs), wide area networks (WANs), and other networks including any combination of the above.

[0249] Before providing users with applications, local area networks, network resources, other network and network security devices, the operable computing device 1700 performs user registration and authentication (e.g., using registration, unique identifiers and passwords). The computing device 1700 can serve one or more users.

Claims

1. A method for managing the prerequisites for electronic trade finance transactions using a distributed ledger of a blockchain system, each electronic trade finance transaction including a bank guarantee and a payment triggered upon fulfillment of the terms of the trade finance transaction contract, the method comprising: Receive a new electronic trade finance transaction request, the request identifying trade finance transaction contract terms and at least one prerequisite for the trade finance transaction associated with one or more inventory management devices or one or more shipment management devices, the electronic trade finance transaction request being represented by a cryptographically related block sequence; Provides a public key associated with one party's file in the electronic trade finance transaction request to an inventory management device or shipment management device associated with at least one of the prerequisites of the trade finance transaction. Generate digitally signed or encrypted blocks for insertion into a sequence of cryptographically related blocks on the blockchain system, wherein the digitally signed or encrypted blocks are digitally signed or encrypted at least based on the public key; as well as The block associated with the digital signature or encryption is updated using at least one private key corresponding to the public key to indicate that at least a portion of the prerequisites associated with the digital signature or encryption block have been met; Specifically, when all blocks in the cryptographically related block sequence representing the electronic trade finance transaction request have been updated, the terms of the trade finance transaction contract are satisfied and payment is triggered.

2. The method according to claim 1, wherein, Updating a block with the digital signature or encryption involves recording the transaction in the blockchain system using the private key corresponding to the public key.

3. The method according to claim 2, wherein, The recorded transactions include digital signatures or signature images associated with the inventory management device or the shipment management device.

4. The method according to claim 1, wherein, The digital signature or encrypted block includes stored information representing shipping or transportation parameters associated with the inventory management device or the shipping management device related to the prerequisites for the trade finance transaction.

5. The method according to claim 4, wherein, The prerequisites to be met associated with the digital signature or encrypted block are based at least on the shipping or transport parameters.

6. The method according to claim 4, wherein, The public key is used to encrypt at least a portion of the stored information representing shipping or transport parameters.

7. The method according to claim 1, wherein, The financial institution system periodically traverses the cryptographically related block sequence to determine whether the terms of the trade finance transaction contract have been satisfied.

8. The method according to claim 7, wherein, Once it is determined that the terms of the trade finance transaction contract have been satisfied, the financial institution is triggered to make the payment.

9. The method according to claim 1, wherein, The public key is managed by a certificate authority server.

10. The method according to claim 9, wherein, The certificate authorization server stores public keys, and each public key corresponds to a corresponding inventory management device or shipment management device.

11. A computer system for managing the prerequisites of electronic trade finance transactions using a distributed ledger of a blockchain system, each electronic trade finance transaction including a bank guarantee and a payment triggered upon fulfillment of the terms of the trade finance transaction contract, said computer system comprising: The processor, connected to computer memory and computer storage, is configured to: Receive a new electronic trade finance transaction request, the request identifying trade finance transaction contract terms and at least one prerequisite for the trade finance transaction associated with one or more inventory management devices or one or more shipment management devices, the electronic trade finance transaction request being represented by a cryptographically related block sequence; Provides a public key associated with one party's file in the electronic trade finance transaction request to an inventory management device or shipment management device associated with at least one of the prerequisites of the trade finance transaction. Generate digitally signed or encrypted blocks for insertion into a sequence of cryptographically related blocks on the blockchain system, wherein the digitally signed or encrypted blocks are digitally signed or encrypted at least based on the public key; as well as The block associated with the digital signature or encryption is updated using at least one private key corresponding to the public key to indicate that at least a portion of the prerequisites associated with the digital signature or encryption block have been met; Specifically, when all blocks in the cryptographically related block sequence representing the electronic trade finance transaction request have been updated, the terms of the trade finance transaction contract are satisfied and payment is triggered.

12. The system according to claim 11, wherein, Updating a block with the digital signature or encryption involves recording the transaction in the blockchain system using the private key corresponding to the public key.

13. The system according to claim 12, wherein, The recorded transactions include digital signatures or signature images associated with the inventory management device or the shipment management device.

14. The system according to claim 11, wherein, The digital signature or encrypted block includes stored information representing shipping or transportation parameters associated with the inventory management device or the shipping management device related to the prerequisites for the trade finance transaction.

15. The system according to claim 14, wherein, The prerequisites to be met associated with the digital signature or encrypted block are based at least on the shipping or transport parameters.

16. The system according to claim 14, wherein, The public key is used to encrypt at least a portion of the stored information representing shipping or transport parameters.

17. The system according to claim 11, wherein, The financial institution system periodically traverses the cryptographically related block sequence to determine whether the terms of the trade finance transaction contract have been satisfied.

18. The system according to claim 17, wherein, Once it is determined that the terms of the trade finance transaction contract have been satisfied, the financial institution is triggered to make the payment.

19. The system according to claim 11, wherein, The public key is managed by a certificate authority server.

20. The system according to claim 19, wherein, The certificate authorization server stores public keys, and each public key corresponds to a corresponding inventory management device or shipment management device.

21. A non-volatile computer-readable medium storing a computer-interpretable instruction set, wherein when the non-volatile computer-readable medium is executed by a processor, the processor performs the method of any one of claims 1-10.

Images