Blockchain Dashboard Integrating Legacy Systems via API

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Solution Overview

Problem

Traditional methods for resource transfers using individual databases lead to data inconsistencies and inefficiencies due to manual reconciliation and vulnerability to modification or improper access, necessitating a more secure and reliable data storage solution.

Innovation Solution

A system integrating legacy systems with a permissioned blockchain using decentralized applications, where data is governed by a blockchain dashboard through an API, ensuring data authenticity and consistency via consensus algorithms and asymmetric cryptography.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If individual databases are used for resource transfers, then data storage is simple and accessible, but data consistency and security deteriorate due to manual reconciliation and vulnerability to modification

Engineering Contradiction:

Improvedata consistencyVSAvoidsystem complexity

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

Multiple individual databases are merged into a single shared blockchain ledger that all entities can access. The blockchain combines the data storage functions of multiple databases into one unified, distributed structure, eliminating the need for separate databases while ensuring all parties view the same consistent data.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The blockchain acts as an intermediary layer between legacy systems and the distributed network. Smart contracts serve as automated intermediaries that mediate resource transfers, automatically reconciling data across entities without manual intervention and ensuring consistency without requiring complex coordination between individual databases.

Inventive Principle:

Principle #24Intermediary (Mediator)

2Productivity

If manual reconciliation is used across entity databases, then system complexity is reduced, but productivity and efficiency deteriorate due to time-consuming reconciliation processes

Engineering Contradiction:

Improveresource transfer efficiencyVSAvoidreconciliation time

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The blockchain system performs automatic self-reconciliation through its distributed ledger mechanism. Each node independently validates transactions and maintains consistent data copies, eliminating the need for manual reconciliation processes. The system self-corrects and synchronizes data automatically, freeing entities from time-consuming manual reconciliation tasks.

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The blockchain maintains continuous, real-time synchronization of data across all entities through its distributed consensus mechanism. Instead of periodic batch reconciliation, the system continuously updates and validates transactions as they occur, ensuring data consistency is maintained without interruption to resource transfer operations.

Inventive Principle:

Principle #20Continuity of useful action

3Reliability

If individual databases are used without centralized control, then entity autonomy is maintained, but data security and access control deteriorate

Engineering Contradiction:

Improvedata securityVSAvoidsystem flexibility

Core Design Contradiction:

ReliabilityVSAdaptability or versatility

Solution Approach 1:

The system segments access control and data validation functions into modular smart contracts deployed on the blockchain. Each entity maintains autonomy over their own data and access rules through independently configured smart contracts, while the blockchain provides unified security enforcement. This segmentation allows customized access control for each entity without requiring centralized management.

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

The blockchain platform provides universal security and consensus mechanisms that work across all entities regardless of their specific requirements. The same distributed ledger technology and consensus protocol serve multiple functions: securing data, enabling transactions, maintaining consistency, and providing audit trails. This universal approach maintains entity flexibility while ensuring standardized security across the network.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS20230298014A1System for facilitating secure electronic communications between entities and processing resource transfers

Publication Date: 2023.09.21 HASHLYNX INC

AI summary

Embodiments of the present invention provide a system for utilizing one or more decentralized applications to allow entities to interface with a blockchain for the purposes of conducting a resource transfer. Typically, the blockchain is a permissioned blockchain which may be accessed only by the entities involved in the resource transfer. The decentralized applications may communicate with the legacy systems within each entity through an application programming interface (API) such that the data stored on the legacy systems may be governed by the blockchain. This ensures the authenticity of the data stored on the legacy systems while preventing the possibility of disparate versions of data being created over time.