Method and system for integration of market exchange and issuer processing for blockchain-based transactions
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United States of America Patent
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Jan 16, 2018
Grant Date -
Nov 24, 2016
app pub date -
May 21, 2015
filing date -
May 21, 2015
priority date (Note) -
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Abstract
A method for authorization of a blockchain transaction includes: storing account profiles, each profile including an account identifier, fiat amount, and blockchain amount; receiving a transaction message, the transaction message being formatted based on transaction message standards and including a first data element that includes a specific account identifier and a second data element reserved for private use that includes a network identifier and transaction amount; identifying a specific account profile that includes the specific account identifier; identifying a risk value based on the transaction amount and at least one of: the fiat amount and blockchain amount; determining authorization of a transaction based on the identified risk value; modifying the transaction message based on the authorization determination; and transmitting the modified transaction message.
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