Automated Blockchain Payment Metrics Storage
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Solution Overview
Problem
Current systems for storing data related to payments in a blockchain lack automation, leading to outdated and unreliable metrics, as manual processes are often required, which can result in inefficiencies and inaccuracies.
Innovation Solution
An automated system that processes payments and stores metrics in a blockchain by integrating a payment processing engine, payment gateway, database, and application server, allowing for real-time updates and permissions management, ensuring that payment metrics are accurately and promptly recorded.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual processes are used to store payment metrics in a blockchain, then system complexity is reduced, but data reliability and measurement precision deteriorate due to outdated and inaccurate metrics
Solution Approach 1:
The system performs preliminary actions by automatically capturing and storing payment metrics in the blockchain at the point of transaction occurrence. The payment processing engine integrates with the blockchain network to record metrics such as payment amount, timestamp, and transaction status immediately when a payment is processed, eliminating the need for manual data entry and ensuring data is captured at the source before any potential errors or delays can occur.
Solution Approach 2:
The patent introduces an intermediary payment processing engine that acts as a mediator between the payment gateway and the blockchain network. This engine automatically extracts relevant metrics from payment transactions and facilitates their storage in the blockchain, bridging the gap between traditional payment systems and distributed ledger technology without requiring manual intervention from users.
2Measurement precision
If automated systems are implemented to store payment metrics in real-time, then measurement precision and productivity improve, but device complexity increases due to integration requirements
Solution Approach 1:
The payment processing engine is designed with multi-functionality, serving both as a payment processor and as a blockchain interface. It can handle multiple types of payment metrics (transaction amounts, timestamps, statuses) and interact with different blockchain networks, making the system versatile and reducing the need for separate specialized components for each function.
Solution Approach 2:
The system architecture is segmented into distinct modular components: the payment gateway layer, the payment processing engine layer, and the blockchain interface layer. This segmentation allows each component to be developed, maintained, and scaled independently, reducing integration complexity while enabling real-time automated metric capture and storage across the distributed system.
3Productivity
If manual data entry is used for payment metrics, then ease of operation is maintained, but loss of time and productivity increase due to outdated metrics
Solution Approach 1:
The automated system establishes continuous action by maintaining a persistent connection between the payment processing engine and the blockchain network. As payments are continuously processed through the gateway, the engine continuously extracts metrics and transmits them to the blockchain in real-time, ensuring uninterrupted data flow and eliminating the time delays associated with periodic manual updates or batch processing.
Data Source
AI summary
Implementations are described for automatically storing, in a blockchain, metrics that relate to payments. In one implementation, permissions that identify a set of metrics are retrieved from a database. The permissions are stored by a tenant of a multi-tenant system to grant permission to the multi-tenant system to store the metrics for a second tenant. A metric is selected from the set of metrics, based on a determination that a value of the metric is to be updated responsive to a payment in a transaction between the first and second tenants where the payment has been successfully processed. The value of the metric is determined for the second tenant based on data relating to the payment. The value of the metric is stored, in the blockchain, with an identifier that uniquely identifies the second tenant in the blockchain.