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1. (WO2018081698) APPLICATION OF DISTRIBUTED LEDGERS FOR NETWORK PAYMENTS AS FINANCIAL EXCHANGE SETTLEMENT AND RECONCILIATION

Pub. No.:    WO/2018/081698    International Application No.:    PCT/US2017/059015
Publication Date: Fri May 04 01:59:59 CEST 2018 International Filing Date: Tue Oct 31 00:59:59 CET 2017
IPC: G06Q 20/36
G06Q 40/04
G06Q 40/06
Applicants: JPMORGAN CHASE BANK, N. A.
Inventors: HALLAM, Jonathan C.
MALLELA, Naveen
LONSDALE, Gavin
DRAKE, Lawrence Charles
VALIVETI, Sai Murali Krishna
AQUINO, Elizabeth Polanco
VOELL, David
SHETTY, Suresh
FALAH, Samer
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
Abstract:
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.