Patent ID: 11928687
Assignee: WELLS FARGO BANK, N.A.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A method of math-based currency (MBC) exchange utilizing MBC transaction guarantees, the method comprising:
broadcasting, by a processor of a financial institution computing system, an MBC transfer corresponding with a pending guarantee comprising transaction information to a plurality of MBC verification nodes via a network;
after an exchange of a good or service of the merchant and the MBC transfer was broadcasted to the plurality of MBC verification nodes, receiving, by the processor from a merchant point of sale (POS) terminal of a plurality of merchant POS terminals, a payment reimbursement request comprising a guarantee identifier generated by the processor and associated with the pending guarantee of the MBC transfer, wherein the guarantee identifier is embedded into a metadata field of the MBC transfer;
determining, by the processor utilizing the guarantee identifier, the transaction information comprising at least one of a merchant identification number (MID) and a terminal identification number (TID) identifying the merchant POS terminal of the plurality of merchant POS terminals;
determining, by the processor utilizing the transaction information, the guarantee identifier is associated with a failed transaction based on accessing and analyzing a plurality of disputed transactions on the plurality of MBC verification nodes of an MBC blockchain;
in response to identifying the failed transaction, initiating, by the processor, an MBC payment from the processor to an MBC address of the merchant; and
providing, by the processor to the merchant POS terminal of the plurality of merchant POS terminals, a payment confirmation based on the MID and the TID associated with a specific location of the merchant where a customer initiated the MBC transfer with the pending guarantee.