Patent ID: 11935036
Assignee: CAPITAL ONE SERVICES, LLC
Field: IT methods for management (Electrical engineering)
Classification: CPC G  H | IPC G  H

Claim 0:
1. A method, comprising:
generating, by a node in a blockchain network, a plurality of merchant smart contracts by generating, for each of a plurality of merchants, one or more corresponding smart contracts, wherein generating the plurality of merchant smart contracts comprises, for a first merchant smart contract of the plurality of merchant smart contracts:
storing, by the node, a first point balance associated with a first merchant digital wallet of a plurality of merchant digital wallets;
retrieving, from a database of rules for compensation rates, a plurality of point settlement rules, wherein each of the plurality of point settlement rules specifies a corresponding compensation rate; and
selecting a first subset of the plurality of point settlement rules based on a first priority level assigned to the first merchant digital wallet and a first merchant size associated with a first merchant corresponding to the first merchant digital wallet;

storing, by the node, an association between the first subset of the plurality of point settlement rules and the first merchant smart contract;
upon execution, by the node, of instructions of the first merchant smart contract;
settling, by the node, at least a portion of the first point balance associated with the first merchant digital wallet with one or more digital wallets of an organization managing a reward system by:
executing one or more blockchain transactions based on one or more first compensation rates indicated by the first subset of the plurality of point settlement rules and based on a determination that the first point balance satisfies one or more point settlement rules in the first subset of the plurality of point settlement rules;

generating, by the node, a plurality of consumer smart contracts by generating, for each of a plurality of consumers, one or more corresponding consumer smart contracts, wherein generating the plurality of consumer smart contracts comprises, for each consumer smart contract of the plurality of consumer smart contracts:
storing, by the node, a point balance associated with a consumer digital wallet of a plurality of consumer digital wallets;
determining one or more incentive programs associated with the consumer digital wallet;
retrieving, from a database of point earning rules, a plurality of point earning rules, wherein each of the plurality of point earning rules is classified based on incentive programs, and wherein one or more of the plurality of point earning rules specify a point expiration date;
selecting a subset of the plurality of point earning rules based on the one or more incentive programs associated with the consumer digital wallet; and
associating, by the node and based on the subset of the plurality of point earning rules, each point in the point balance associated with the consumer digital wallet with a respective expiration date; and

upon execution, by the node, of instructions of a first consumer smart contract that corresponds to a first consumer digital wallet of the plurality of consumer digital wallets:
identifying, by the node from the blockchain network, a first blockchain transaction associated with the first consumer digital wallet;
generating, by the node, points based on:
a first subset of the plurality of point earning rules associated with the first consumer digital wallet, and
the first blockchain transaction;

executing, by the node, a second blockchain transaction transferring the generated points to the first consumer digital wallet; and
updating, by the node and based on the executed second blockchain transaction, a first point balance associated with the first consumer digital wallet.