System for conversion of an instrument from a non-secured instrument to a secured instrument in a process data network
US10116667B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Feb 22, 2016 |
| Grant date | Oct 30, 2018 |
| Priority date | — |
| Expiry date | Jun 26, 2036 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L9/50
- WIPO fieldDigital communication
- WIPO sectorElectrical engineering
Abstract
Embodiments of the invention are directed to a system, method, or computer program product for generating and using a block chain distributed network for facilitating the conversion of an instrument into a verified secured instrument. The block chain database comprises a distributed ledger that is updated with resource availability based on database node communication. The resource availability is compared to a distribution amount associated with an instrument presented to a receiver for resource distribution. Prior to resource distribution the block chain distributed network confirms the resource availability and marks the resources as unavailable. As such, the invention converts instrument into a verified secure instrument based on an identification of sufficient resources available in association with the instrument.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.