Blockchain Verification Files for Real-Time Interbank Data Checks
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Solution Overview
Problem
Existing data verification methods between financial institutions are costly and time-consuming, lacking real-time verification capabilities and an effective arbitration mechanism, leading to poor timeliness and disputes.
Innovation Solution
A blockchain-based data verification system involving first and second verification systems that collect and verify service data, generate verification files with digital digests, and upload successfully verified data to a blockchain network, ensuring immutability and credibility.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If traditional data verification methods are used between financial institutions, then data verification can be performed, but the verification process is time-consuming and lacks real-time capability
Solution Approach 1:
The patent applies preliminary action by pre-packaging transaction data into verification files with digital signatures and hashes before verification. Institution A prepares verification files containing transaction data, digital signatures, and hashes in advance, allowing institution B to perform rapid verification without real-time data collection or complex processing during the verification moment, thus reducing verification time while maintaining reliability
Solution Approach 2:
The patent uses copying by creating verification files that contain copies of transaction data with digital signatures and hashes. Instead of verifying original transaction records directly, the system verifies copies packaged in verification files, which can be transmitted and validated independently, enabling faster verification while ensuring data integrity through cryptographic verification
2Reliability
If traditional data verification methods are used, then verification can be completed, but development costs are high involving data export, file transmission, and data comparison
Solution Approach 1:
The patent applies taking out by extracting the essential verification elements (digital signatures and hashes) from the complete transaction data. Instead of comparing entire transaction datasets between institutions, the system only needs to verify the extracted digital signatures and hashes against the transaction data, significantly simplifying the verification process while maintaining verification accuracy
Solution Approach 2:
The patent uses parameter changes by transforming transaction data into verification files with specific cryptographic parameters (digital signatures, hashes). This transformation changes the verification from complex data comparison to straightforward cryptographic validation, reducing system complexity while ensuring verification reliability through mathematical proofs of data integrity
3Productivity
If traditional verification methods are used with large transaction volumes, then all transactions can be verified, but the process takes a long time resulting in poor timeliness
Solution Approach 1:
The patent applies preliminary action by pre-packaging transaction data into verification files with digital signatures and hashes before verification. Institution A prepares verification files containing transaction data, digital signatures, and hashes in advance, allowing institution B to perform rapid verification without real-time data collection or complex processing during the verification moment, thus reducing verification time while maintaining reliability
Solution Approach 2:
The patent uses copying by creating verification files that contain copies of transaction data with digital signatures and hashes. Instead of verifying original transaction records directly, the system verifies copies packaged in verification files, which can be transmitted and validated independently, enabling faster verification while ensuring data integrity through cryptographic verification
4Reliability
If traditional verification methods are used, then data can be verified, but there is no arbitration mechanism recognized by both parties in case of disputes
Solution Approach 1:
The patent applies intermediary by introducing blockchain technology as a neutral mediator between financial institutions. Verification files with digital signatures and hashes are recorded on the blockchain, creating an immutable, time-stamped audit trail that both parties recognize. In case of disputes, the blockchain serves as an impartial arbitrator, providing verifiable evidence of transaction integrity without requiring complex bilateral arbitration agreements
Solution Approach 2:
The patent uses mechanics substitution by replacing traditional mechanical arbitration mechanisms (manual review, bilateral agreements) with cryptographic verification and blockchain recording. The digital signatures and hashes provide mathematical proof of data integrity, while the blockchain's distributed ledger provides an immutable record that both parties must accept, substituting complex human arbitration with automated cryptographic verification
Data Source
AI summary
The present specification provides a blockchain-based data verification system and method, a computing device, and a storage medium. The blockchain-based data verification system includes: a first verification system, a second verification system, and a first blockchain node and a second blockchain node on a blockchain network; the first verification system is configured to: collect first service data based on a predetermined condition and generate a first verification file including the first service data, and send a verification request to the second verification system; the second verification system is configured to: receive the verification request, verify the first service data with second service data in a local database of the second verification system, generate and send a verification result notification to the first verification system, and send successfully verified second service data in the local database to the first blockchain node on the blockchain network; wherein the first verification system is further configured to: receive the verification result notification, and send successfully verified first service data to the second blockchain node on the blockchain network.