Distributed ledger based interchange
US11455642B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 19, 2016 |
| Grant date | Sep 27, 2022 |
| Priority date | — |
| Expiry date | Oct 27, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/381
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Techniques are described for a distributed ledger based interchange system for transferring value between entities. A decentralized and distributed ledger system, such as a blockchain network, may include treasury accounts each associated with an institution that participates in the system. A particular transaction may be submitted for approval based on the votes of the peers in the distributed ledger based interchange system. If at least a threshold number of votes indicate approval, the transaction is approved. A signal may be sent to the institutional systems indicating that accounts of the sending and receiving entities may respectively be debited and credited the value of the transaction. Settlement may occur between the treasury accounts of the sending and receiving institutions on the distributed ledger system, and settlement may be performed in real time with respect to the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.