Blockchain Resource Transfer Serializability

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Solution Overview

Problem

Current systems for managing serializability of resource transfers in process data networks lack efficiency and accuracy, particularly in scenarios involving multiple parties and complex transactions like mortgage loans, where documentation and validation become increasingly cumbersome.

Innovation Solution

A blockchain-based system that electronically manages resource transfers by receiving indications of transactions, retrieving user and transaction information, and updating blockchain records upon validation through a web portal, ensuring secure and transparent documentation and validation across multiple parties.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If traditional document management systems are used for resource transfers between multiple parties, then each party can independently organize and retrieve their documents, but the system becomes cumbersome and inefficient as the number of parties and transactions increases

Engineering Contradiction:

Improveefficiency of resource transfer managementVSAvoidcomplexity of documentation and validation system

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The patent combines multiple independent document management systems into a single shared ledger accessible by all parties. Instead of each party maintaining separate documents, all transaction records are merged into one unified blockchain structure that all participants can access and validate, eliminating the need for multiple independent organizational systems.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The blockchain ledger serves multiple functions simultaneously: it acts as a document repository, a validation mechanism, a serialization engine, and a retrieval system. This universal structure replaces multiple specialized systems, reducing overall complexity while handling diverse transaction types between any number of parties.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Reliability

If multiple parties independently manage their own transfer documents, then each party maintains control over their records, but accuracy and consistency across all parties deteriorates

Engineering Contradiction:

Improveaccuracy of transfer documentationVSAvoidconsistency of transfer records across parties

Core Design Contradiction:

ReliabilityVSLoss of information

Solution Approach 1:

The system implements feedback mechanisms where each party's document organization is continuously validated against the shared ledger. The validation process provides feedback to ensure all parties maintain consistent records, and any discrepancies are detected and resolved through the network consensus mechanism.

Inventive Principle:

Principle #23Feedback

Solution Approach 2:

The blockchain ledger acts as an intermediary that mediates between all parties' document management systems. It ensures that all parties reference the same authoritative records, preventing information loss and inconsistency while allowing each party to independently organize their view of the data.

Inventive Principle:

Principle #24Intermediary (Mediator)

3Measurement precision

If validation processes are manually performed for each resource transfer, then thorough verification is achieved, but the time and resources required increase significantly

Engineering Contradiction:

Improvethoroughness of transfer validationVSAvoidtime required for validation process

Core Design Contradiction:

Measurement precisionVSLoss of time

Solution Approach 1:

The system performs preliminary validation actions by organizing documents according to blockchain serialization rules before actual transfers occur. This pre-organization ensures that when validation is needed, the documents are already in the correct format and sequence, enabling rapid automated verification without sacrificing thoroughness.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The validation process is designed to be self-service through automated cryptographic verification. Each party can independently validate transfers using the shared ledger and predefined validation rules, eliminating the need for time-consuming manual verification while maintaining high precision through algorithmic consistency checks.

Inventive Principle:

Principle #25Self-service

Data Source

PatentUS10607285B2System for managing serializability of resource transfers in a process data network

Publication Date: 2020.03.31 BANK OF AMERICA CORP

AI summary

Systems, computer program products, and methods are described herein for a system for using the block chain distributed network for managing serializability of resource transfers in a process data network. The present invention is configured to electronically receive an indication from a computing system associated with a first user that the first user has executed a transfer of resources with a second user; retrieve information associated with the transfer of resources from the first user; retrieve information associated with a block chain of user information associated with the first user; transmit a notification to a computing system associated with the second user to validate the transfer of resources; receive an input from the second user validating the transfer of resources; and update the block chain of user information with the validated transfer of resources based on at least receiving the input from the second user.