Ledger-Based Data Reconciliation With Bi-Temporal Records
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Traditional data management methodologies are inefficient and error-prone in ensuring real-time synchronization and integrity of data across multiple systems of records, leading to inconsistencies, inefficiencies, and increased risk of data tampering and fraud.
Innovation Solution
A distributed ledger technology-based system using cryptographic hashing and bi-temporal records to automatically update transaction data upon predefined conditions, ensuring data integrity and accuracy across disparate systems.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional data management methodologies are used to track and reconcile data across multiple systems of records, then operational flexibility and ease of implementation are maintained, but data integrity, synchronization accuracy, and security are compromised due to errors and inefficiencies
Solution Approach 1:
The patent introduces a distributed ledger as an intermediary layer between multiple systems of records. This ledger captures cryptographic objects and bi-temporal records, serving as a neutral mediator that enables trusted data exchange and reconciliation across disparate systems without requiring direct integration between them, thereby improving data integrity while managing complexity through a standardized interface
Solution Approach 2:
The patent replaces traditional mechanical data reconciliation processes (manual tracking, verification, and synchronization) with cryptographic mechanisms. By using cryptographic objects, hashing algorithms, and automated smart contracts on the distributed ledger, the system eliminates error-prone manual operations while maintaining reliability, even though the cryptographic infrastructure adds apparent complexity
2Productivity
If manual data tracking and reconciliation processes are used, then system implementation is simpler and more straightforward, but operational efficiency and productivity are reduced due to increased manual interventions and errors
Solution Approach 1:
The distributed ledger system performs self-service data reconciliation through automated smart contracts and cryptographic verification mechanisms. The system automatically captures data elements, generates cryptographic objects, validates consistency across systems, and updates bi-temporal records without requiring manual intervention, thereby dramatically improving operational efficiency while the automated nature manages complexity through standardized protocols
Solution Approach 2:
The patent implements continuous feedback loops where the distributed ledger constantly monitors and verifies data consistency across multiple systems of records. Cryptographic objects provide immutable audit trails, and the system automatically detects and flags discrepancies, enabling real-time reconciliation and improving productivity through automated closed-loop verification rather than periodic manual checks
3Reliability
If traditional data synchronization methods are used across multiple systems of records, then system architecture remains simple and easier to maintain, but data security and protection against tampering are weakened
Solution Approach 1:
The patent replaces traditional security mechanisms (access controls, encryption at rest, transmission security) with cryptographic proof systems on the distributed ledger. Each data element is protected by cryptographic objects that provide tamper-evident authentication and integrity verification, enhancing security while the decentralized cryptographic architecture manages complexity through standardized cryptographic protocols rather than custom security implementations
Solution Approach 2:
The distributed ledger acts as a security intermediary that isolates direct system-to-system security requirements. Instead of each system needing to implement and trust the security of every other system, the ledger provides a neutral security layer that verifies and reconciles data from all sources using cryptographic proofs, thereby enhancing overall security while simplifying individual system security architectures
4Measurement precision
If real-time data synchronization is implemented across multiple systems of records, then data accuracy and consistency are improved, but operational overhead and processing time increase
Solution Approach 1:
The patent replaces time-consuming manual verification and reconciliation processes with automated cryptographic validation. The distributed ledger uses efficient hashing algorithms and cryptographic object comparison to verify data consistency across systems in real-time, achieving high measurement precision for data consistency while reducing processing time through automated computational verification rather than manual review
Solution Approach 2:
The system implements selective real-time synchronization by capturing and reconciling only critical data elements and cryptographic objects on the distributed ledger, rather than synchronizing entire data sets. This partial action approach maintains high data consistency for critical elements while minimizing processing overhead by focusing computational resources on essential reconciliation tasks rather than comprehensive data synchronization
Data Source
AI summary
Various systems and methods are disclosed relating to protecting cross-system exchanges. A data processing system includes one or more processing circuits configured to identify a plurality of data elements and generate a first plurality of cryptographic objects. The one or more processing circuits are further configured to record the first plurality of cryptographic objects on a distributed ledger and generate metadata corresponding to at least one of the plurality of data elements, the metadata including temporal data. The one or more processing circuits are further configured to generate a bi-temporal record including a plurality of links to the plurality of data elements and storing the corresponding metadata. The one or more processing circuits are further configured to provide an interface including a query element corresponding to the bi-temporal record.