AU 2016/226026 A1 - Systems And Methods For Updating A Distributed Ledger Based On Partial Validations Of Transactions - The Lens - Free & Open Patent and Scholarly Search

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AU 2016/226026 A1

Systems And Methods For Updating A Distributed Ledger Based On Partial Validations Of Transactions

Published: Sep 21, 2017
Earliest Priority: Mar 05 2015
Family: 7
Cited Works: 0
Cited by: 0
Cites: 0
Additional Info: Full text

Abstract

The systems and methods described herein relate to processing financial transactions using a computer network that stores a distributed ledger, and particularly, to updating the distributed ledger based on data messages received from validation servers that each store a portion of the ledger corresponding to a respective asset. The systems and methods described herein employ the distributed ledger to control visibility of transactions to the general marketplace, but still provide swift and assured completion of transactions and visibility and audit capability for regulators.

Claims

A method for modifying, in substantially real-time, data securely stored in a data table storing a plurality of data accounts, comprising: receiving, using control circuitry, a request to modify a data account selected from the plurality of data accounts, wherein the selected account stores at least one value of a type of asset; identifying at least one validator based on the received request and the at least one asset, wherein the at least one validator will, in substantially real-time, check whether the request can be performed; and modifying the data table in substantially real-time if the at least one validator deems the request valid.
The method of claim 1, further comprising: encrypting the plurality of data accounts in the data table differently, so that a decryption process used by a first validator to access data of a first type of asset cannot be used to access data of a second type of asset.
The method of claim 1, wherein: the data table is modified to process a payment transaction or a deposit transaction; the at least one asset corresponds to a security, such as a currency or a bond; and the validator is an issuing-authority of the security.
The method of claim 3, wherein the issuing authority of the security is a proxy for a central bank that issues a currency or a bond issuer that issues a bond.
The method of claim 1, wherein the validator is a first validator and the at least one asset comprises a first and a second asset, the method further comprising: determining an identity of a second validator based on the received request, wherein the second validator confirms the request in substantially real-time for the second asset. WO 2016/141361 PCT/US2016/021069
The method of claim 1, wherein the received request comprises modifications to several accounts in the plurality of accounts, the validator is a first validator of a plurality of validators, and each of the plurality of validators is associated with a different asset, the method further comprising: determining a plurality of identities for the plurality of validators based on the received request, wherein each of the plurality of validators validates the request in substantially real time.
The method of claim 1, wherein the validator determines whether to validate the request based on: retrieving a published balance from the data table for the account and the at least one asset; computing an available balance by reducing the published balance by shadow balances associated with pending and reserved payments; approving the request when the available balance is greater than or equal to a transaction amount of the request; and rejecting the request when the available balance is less than the transaction amount of the request.
The method of claim 7, wherein the validator stores a shadow balance associated with pending and reserved payments and a redundant copy of the data table.
The method of claim 1, wherein the validator determines whether to validate the request based on: verifying whether a party associated with the account is authorized to perform the request.
The method of claim 1, wherein the validator stores a redundant copy of the data table, the method further comprising: in response to modifying the data table, sending modified portions of the data table to the validator.
The method of claim 10, wherein the redundant copy of the data table is encrypted to prevent the validator from accessing data for an asset different from the at least one asset. WO 2016/141361 PCT/US2016/021069
A system for modifying, in substantially real-time, a data table having a plurality of securely stored data accounts: a memory configured to store the data table; and control circuitry configured to: receive a request to modify an account selected from the plurality of accounts, wherein the selected account comprises at least one asset; determine an identity of at least one validator based on the received request, wherein the at least one validator is configured to check the request in substantially real-time; and modify the data table in substantially real-time if the validator confirms the request is valid.
The system of claim 12, wherein the control circuitry is further configured to: encrypt the plurality of accounts in the data table differently, so that a decryption process used by the first validator to access data of the first asset cannot be used to access data of the second asset.
The system of claim 12, wherein: the data table is modified to process a payment transaction or a deposit transaction; the at least one asset corresponds to a currency or a bond; and the validator is an issuing-authority of the currency or the bond.
The system of claim 14, wherein the validator is a first validator, the at least one asset comprises a first and a second asset, and the control circuitry is further configured to: determine an identity of a second validator based on the received request, wherein the second validator validates the request in substantially real-time for the second asset.
The system of claim 15, wherein: the data table is modified to process a foreign exchange transaction; the first asset corresponds to a first currency and the second asset WO 2016/141361 PCT/US2016/021069 corresponds to a second currency; and the first validator corresponds to a first issuing authority of the first currency, and the second validator correspond to a second issuing authority of the second currency.
The system of claim 12, wherein the received request comprises modifications to several accounts in the plurality of accounts, the validator is a first validator of a plurality of validators, each of the plurality of validators is associated with a different asset, and the control circuitry is further configured to: determine a plurality of identities for the plurality of validators based on the received request, wherein each of the plurality of validators validates the request in substantially real time.
The system of claim 12, wherein the validator determines whether to validate the request by being configured to: retrieve a published balance from the data table for the account and the at least one asset; compute an available balance by reducing the published balance by shadow balances associated with pending and reserved payments; approve the request when the available balance is greater than or equal to a transaction amount of the request; and reject the request when the available balance is less than the transaction amount of the request.
The system of claim 18, wherein the validator stores a shadow balance associated with pending and reserved payments and a redundant copy of the data table.
The system of claim 12, wherein the validator determines whether to validate the request by being configured to: verify whether a party associated with the account is authorized to perform the request.
The system of claim 12, wherein the validator stores a redundant copy of the data table, and the control circuitry is further configured to: WO 2016/141361 PCT/US2016/021069 send modified portions of the data table to the validator, in response to modifying the data table.
The system of claim 21, wherein the redundant copy of the data table is encrypted to prevent the validator from accessing data that is of an asset different from the at least one asset.

Applicants

Goldman Sachs & Co
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Inventors

Arnold Matthew Timothy
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Naeem Zartasha
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CPC Classifications

G06Q40/04
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G06Q20/023
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G06Q20/381
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G06Q20/3829
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G06Q20/401
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G06Q40/12
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G06Q40/128
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G06Q2220/00
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IPC Classifications

G06Q40/00
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G06Q20/02
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G06Q20/38
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G06Q40/04
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Document History

Publication: Sep 21, 2017
AU 2016/226026 A1
Application: Mar 4, 2016
AU 2016/226026 A
Priority: Mar 4, 2016
US 2016/0021069 W
Priority: Mar 5, 2015
US 201514639895 A

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