Patent ID: 11966914
Assignee: BANK OF AMERICA CORPORATION
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A system for processing a real-time resource transfer using distributed ledger technology, the system comprising:
a processor;
a communication interface; and
a memory having a blockchain application stored therein, wherein the blockchain application comprises computer instruction code configured to interact with a blockchain, where said blockchain comprises a plurality of data records, wherein the blockchain application, when executed by the processor, causes the processor to:
receive a resource transfer request from a user device to transfer an amount of resources from a first user to a second user;
generate a pending data record on the blockchain, wherein the pending data record comprises the resource transfer request;
receive a first validation of the pending data record, wherein the first validation comprises: 1) verification that a first unique identifier associated with the first user is associated with a first user account associated with the first user, and 2) verification that the first user account comprises sufficient resources for the resource transfer request;
receive a second validation of the pending data record, wherein the second validation comprises verification that a second unique identifier associated with the second user is associated with a second user account associated with the second user;
convert the pending data record to a permanent data record;
append the permanent data record to the blockchain; and
transfer, in real-time, the resources from the first user to the second user.