Control Execution Management System for Blockchain Compliance
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Solution Overview
Problem
Existing systems lack centralized management and easy access to information regarding the configuration and execution of executable controls, which are crucial for ensuring compliance with internal and external rules across various organizational processes.
Innovation Solution
A control execution management system that continuously monitors processes for configuration and execution data of executable controls and automatically stores this information in a distributed ledger, such as a blockchain network, ensuring immutability and accessibility.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If executable controls are distributed across multiple processes without centralized management, then system flexibility and process independence are improved, but information accessibility and compliance monitoring capability deteriorate
Solution Approach 1:
The patent introduces a centralized control execution management system that acts as an intermediary between distributed processes and the blockchain network. This intermediary captures control configuration data and execution data from various processes, standardizes the information, and stores it in a centralized manner on the blockchain, thereby maintaining process independence while enabling comprehensive information accessibility and monitoring.
2Loss of information
If control execution data is stored in a centralized location, then information accessibility and compliance monitoring are improved, but system complexity and implementation difficulty increase
Solution Approach 1:
The system implements automated data capture mechanisms that self-serve by intercepting control configuration data and execution data directly from processes as they occur. The centralized management system automatically stores this data on the blockchain without requiring manual intervention, thereby improving information accessibility while minimizing the operational complexity burden on users.
Solution Approach 2:
The control execution management system is designed as a universal platform that can manage multiple types of executable controls across different processes simultaneously. By creating a multi-functional system that handles various control types through standardized mechanisms, the patent reduces overall system complexity compared to implementing separate management systems for each control type.
3Reliability
If continuous monitoring of control execution is implemented, then compliance detection capability is improved, but computational resources and system overhead increase
Solution Approach 1:
The system implements continuous monitoring by capturing control execution data at strategically selected points in the process flow rather than continuously analyzing every single operation. This partial monitoring approach maintains compliance detection capability by focusing on critical control execution events while reducing the overall computational resource requirements compared to exhaustive continuous analysis.
Data Source
AI summary
Embodiments of the present disclosure include systems and methods for managing the configuration and execution of executable controls. In particular, a control execution management system may enable organizations to configure executable controls relating to certain internal and/or external processes, and for configuration and execution data for the executable controls to be maintained by the organizations, for example, in a distributed ledger (e.g., a blockchain network). Continuously monitoring configuration and execution data of the executable controls may enable an organization to always have updated information relating to the executable controls and how they impact their associated internal and/or external processes, thereby enabling the organization to, for example, provide such information to regulatory agencies, relevant stakeholders, and so forth.