Truist Bank (20240265003). MASTER DATA MANAGEMENT SYSTEMS USING DISTRIBUTED CRYPTOGRAPHIC BLOCKCHAIN ESTABLISHING TRUST CONTROL simplified abstract
MASTER DATA MANAGEMENT SYSTEMS USING DISTRIBUTED CRYPTOGRAPHIC BLOCKCHAIN ESTABLISHING TRUST CONTROL
Organization Name
Inventor(s)
Lekha A. Banerjee of Charlotte NC (US)
Thomas S. Dickson of Overland Park KS (US)
Randhir Bhan of Sharon MA (US)
Srinivasan Ramanujam of Charlotte NC (US)
MASTER DATA MANAGEMENT SYSTEMS USING DISTRIBUTED CRYPTOGRAPHIC BLOCKCHAIN ESTABLISHING TRUST CONTROL - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240265003 titled 'MASTER DATA MANAGEMENT SYSTEMS USING DISTRIBUTED CRYPTOGRAPHIC BLOCKCHAIN ESTABLISHING TRUST CONTROL
The abstract describes a blockchain strategic master data computing environment for master data management, where interconnected peer nodes collectively maintain a distributed and immutable master ledger storing data asset records of decentralized applications.
- Peer-to-peer computing network
- Interconnected peer nodes
- Master ledger storing data asset records
- Trust protocols for securely writing to the master ledger
- Smart contracts executed by peer nodes
Potential Applications: - Decentralized applications - Data asset management - Secure data storage
Problems Solved: - Centralized data management - Data tampering - Lack of trust in data transactions
Benefits: - Enhanced data security - Improved data integrity - Efficient data management
Commercial Applications: Title: "Blockchain Master Data Management Solutions for Secure Data Storage" This technology can be used in industries such as finance, healthcare, and supply chain management for secure and efficient data management.
Prior Art: Research existing blockchain technologies and peer-to-peer computing networks for similar applications.
Frequently Updated Research: Stay updated on advancements in blockchain technology, peer-to-peer networks, and data management systems for potential improvements in the master data computing environment.
Questions about Blockchain Strategic Master Data Computing Environment: 1. How does the peer-to-peer computing network ensure data security? 2. What are the potential challenges of implementing this technology in large-scale enterprises?
1. How does the peer-to-peer computing network ensure data security? The peer-to-peer computing network ensures data security through trust protocols that secure transactions and achieve consensus on data asset identity.
2. What are the potential challenges of implementing this technology in large-scale enterprises? Potential challenges of implementing this technology in large-scale enterprises include scalability issues, integration with existing systems, and regulatory compliance.
Original Abstract Submitted
systems and methods provide a blockchain strategic master data computing environment for master data management, where the strategic master data computing environment includes a peer-to-peer computing network comprising interconnected peer nodes collectively programmed to interoperate based at least in part on a computing environment coordination protocol, a portion or all of the plurality of peer nodes being configured to maintain a distributed and immutable master ledger storing data asset records of decentralized applications and collectively execute a set of trust protocols to securely write to the master ledger, where the trust protocols include a peer node interacting with other peer nodes within the peer-to-peer computing network to achieve consensus on identity of data assets referenced in a transaction and to endorse disposition of the transaction in the master ledger. the master ledger also stores smart contracts that include object codes, where the smart contracts are executed by peer node(s).
