Invention Grant
- Patent Title: Blockchain-based digital exchange platform with reduced latency and increased security and efficiency
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Application No.: US17708181Application Date: 2022-03-30
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Publication No.: US12211098B2Publication Date: 2025-01-28
- Inventor: Saurabh Uprit , Amar Rajendra Tayade
- Applicant: Bank of America Corporation
- Applicant Address: US NC Charlotte
- Assignee: Bank of America Corporation
- Current Assignee: Bank of America Corporation
- Current Assignee Address: US NC Charlotte
- Agency: Weiss & Arons LLP
- Main IPC: G06Q40/04
- IPC: G06Q40/04

Abstract:
Systems and methods for executing a transaction with reduced latency and increased security and efficiency on a blockchain-based digital platform are provided. Methods may include establishing a first blockchain node associated with a first entity, identifying cross listed assets of the first entity, calculating an execution suitability index for each asset, selecting a target asset for liquidation, and establishing a second blockchain node associated with a second entity. Methods may also include receiving an agreement from the second entity to acquire the target asset from the first entity, recording the agreement on the blockchain, receiving an authorization from a financial institution to advance funds on behalf of the second entity to the first entity, transferring the funds from the financial institution to the first entity, recording the transfer of the funds on the blockchain, executing the acquisition of the target asset, and recording the acquisition of the target asset on the blockchain.
Public/Granted literature
- US20230316397A1 BLOCKCHAIN-BASED DIGITAL EXCHANGE PLATFORM WITH REDUCED LATENCY AND INCREASED SECURITY AND EFFICIENCY Public/Granted day:2023-10-05
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