Bank of America Corporation (20240291681). System And Method For Managing Exception Request Blocks In A Blockchain Network simplified abstract

System And Method For Managing Exception Request Blocks In A Blockchain Network

Organization Name

Bank of America Corporation

Inventor(s)

Prashant Khare of Mumbai (IN)

Abhishek Trivedi of Hyderabad (IN)

Gaurav Dadhich of Gurgaon (IN)

Saurabh Dutta of Delhi (IN)

Shruti Nandini Thakur of Hyderabad (IN)

Parneet Kaur Gujral of Gurugram (IN)

Zeno Valerian Anthony of Hyderabad (IN)

System And Method For Managing Exception Request Blocks In A Blockchain Network - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240291681 titled 'System And Method For Managing Exception Request Blocks In A Blockchain Network

Simplified Explanation

The system described in the patent application resolves exceptions in requests by identifying the type of exception, storing it in a blockchain network, and comparing the request with user information to determine if the exception can be resolved.

• The system generates a block in a blockchain network to store details of the exception.
• The type of exception is identified based on the stored details in the block.
• The system segregates the block for exception processing based on its exception type.
• The system compares the request with user information to determine a similarity score.
• If the similarity score exceeds a threshold percentage, the system resolves the exception.

Key Features and Innovation

• Utilizes blockchain technology to store and manage exceptions in requests.
• Compares requests with user information to determine if exceptions can be resolved.
• Segregates blocks for exception processing based on the type of exception.
• Implements a threshold percentage for determining if exceptions can be resolved.

Potential Applications

The technology can be applied in various industries such as finance, healthcare, and supply chain management to streamline exception handling processes.

Problems Solved

• Efficiently resolves exceptions in requests.
• Improves the accuracy of exception processing.
• Enhances user experience by resolving exceptions promptly.

Benefits

• Increased efficiency in handling exceptions.
• Improved accuracy in resolving exceptions.
• Enhanced user satisfaction with faster exception resolution.

Commercial Applications

Title: Exception Resolution System for Streamlined Operations This technology can be used in financial institutions to automate exception handling, in healthcare facilities to improve patient care processes, and in supply chain management to optimize logistics operations.

Prior Art

Further research can be conducted in the field of blockchain-based exception handling systems to explore existing technologies and innovations.

Frequently Updated Research

Stay updated on advancements in blockchain technology and exception handling systems to enhance the efficiency and effectiveness of the described system.

Questions about Exception Resolution System

How does the system determine the similarity score between the request and user information?

The system compares various data points in the request with the user information provided to calculate the similarity score.

What are the potential security implications of storing exceptions in a blockchain network?

Storing exceptions in a blockchain network can enhance security by providing a tamper-proof and transparent record of all exception handling processes.

Original Abstract Submitted

a system for resolving exceptions in requests determines that a request comprises an exception. the exception impeded processing the request. the system generates a block in a blockchain network. based on the stored details in the block, the type of exception is identified. accordingly, the block is segregated for exception processing based on its exception type. the system stores the exception in the block. the system compares the request with user information previously provided by the user. the system determines a similarity score between the request and the user information. the system compares the similarity score with a threshold percentage. in response to determining that the similarity score exceeds the threshold percentage, the system determines that the exception can be resolved and resolves the exception.