Consortium Blockchain Data Synchronization for Payment Settlement
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Solution Overview
Problem
The existing settlement and account splitting mode in online cardless payment platforms faces issues with secondary clearing of information, where unlicensed institutions dominate merchant fund settlement statements, leading to potential data falsification and inaccuracies in transaction and account split-settlement processes.
Innovation Solution
A consortium-blockchain-based data synchronization system is implemented, involving transaction, payment, and account split-settlement nodes that create and confirm transaction and payment orders, and perform account split-settlement operations on a consortium blockchain, ensuring data integrity and preventing falsification by using digital signatures and hash functions for verification among nodes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a third-party payment company is used for fund settlement, then payment service capability is improved, but secondary clearing of information occurs and data integrity deteriorates
Solution Approach 1:
The patent introduces a consortium blockchain as an intermediary mechanism between the third-party payment company and the bank depository system. The blockchain records transaction orders, payment orders, and account split-settlement records in a distributed manner, ensuring that data from multiple sources can be cross-verified and stored immutably, thus preventing secondary clearing while maintaining payment service capabilities
Solution Approach 2:
The patent replaces the traditional centralized mechanical data verification system with a blockchain-based distributed verification system. Instead of relying on a single authority to verify data integrity, the system uses cryptographic hashing and distributed consensus mechanisms to ensure data authenticity across multiple nodes, thereby eliminating the secondary clearing problem
2Productivity
If account split-settlement operations are performed based on bank depository system data, then settlement efficiency is improved, but information secondary clearing occurs and measurement precision deteriorates
Solution Approach 1:
The patent implements preliminary action by recording transaction orders and payment orders on the blockchain before they are processed by the bank depository system. This ensures that the original data is preserved and verified in advance, allowing the bank to perform split-settlement operations based on pre-verified information rather than potentially altered data, thus maintaining both efficiency and precision
3Adaptability or versatility
If unlicensed institutions dominate merchant fund settlement statements, then payment platform control is improved, but data falsification risk increases and reliability deteriorates
Solution Approach 1:
The patent implements feedback mechanisms where the blockchain system continuously monitors and verifies transaction data from multiple sources including third-party payment companies and bank depository systems. The system provides real-time feedback on data authenticity and consistency, allowing for immediate detection and prevention of data falsification attempts while maintaining the control and adaptability of the payment platform
Data Source
AI summary
Methods, systems, and apparatus, including computer programs encoded on computer storage media, for blockchain-based data synchronization are provided. One of the methods includes: receiving, a transaction order created based on a transaction record; storing, the transaction order in association with the blockchain upon confirming the transaction order; receiving, a payment order created based on a payment record; storing, the payment order in association with the blockchain upon confirming the payment order; receiving, a fund transfer corresponding to the payment order; verifying, an amount of the fund transfer is consistent with the amount paid by the payer to the payee through the payment node; performing, a split-settlement operation on the payee based on the amount paid by the payer to the payee through the payment node; creating, a split-settlement record based on the split-settlement operation; and uploading, the split-settlement record for confirmation by the transaction node and the payment node.