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|1. (WO2018081698) APPLICATION OF DISTRIBUTED LEDGERS FOR NETWORK PAYMENTS AS FINANCIAL EXCHANGE SETTLEMENT AND RECONCILIATION|
|Applicants:||JPMORGAN CHASE BANK, N. A.
|Inventors:||HALLAM, Jonathan C.
DRAKE, Lawrence Charles
VALIVETI, Sai Murali Krishna
AQUINO, Elizabeth Polanco
LEE, William J.
LIM, Leticia Pui Sze
SANT'ANNA, Luciane Gomes
|Title:||APPLICATION OF DISTRIBUTED LEDGERS FOR NETWORK PAYMENTS AS FINANCIAL EXCHANGE SETTLEMENT AND RECONCILIATION|
Systems and methods for the application of distributed ledgers for network payments as financial exchange settlement and reconciliation are disclosed. In one embodiment, a method for processing network payments using a distributed ledger may include: (1) a payment originator initiating a payment instruction to a payment beneficiary; (2) a payment originator bank posting and committing the payment instruction to a distributed ledger on a peer-to-peer network; (3) the payment beneficiary bank posting and committing the payment instruction to the distributed ledger on a peer-to-peer network; and (4) the payment originator bank validating and processing the payment through a payment originator bank internal system and debiting an originator account.