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Method and system for inquiring real-time digital bill interest rate based on BlockChain

IP.com Disclosure Number: IPCOM000250494D
Publication Date: 2017-Jul-25
Document File: 2 page(s) / 62K

Publishing Venue

The IP.com Prior Art Database

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Method and system for inquiring real-time digital bill interest rate based on BlockChain

As a traditional property business, bill business is a financial tool among companies and banks. Among all bill businesses, bill discounting is one of the core businesses. Bill discounting is a behavior where the owner who receive the undue acceptance drafts, pay interest and transfer the bill to bank in exchange for funds.

 Core idea of this invention is to leverage the information of interest rate obtained by the offline inquiry, and construct an optimized block-chain in our solution to solve this issue.

Advantages:  Dramatically reduce the cost generated by interest rate differentials between different

banks  Improve the discounted transaction efficiency.  Companies can obtain quasi-real-time discount rate information  Does not depend on the central node and application, avoid single point of failure.

Digital bill system based on blockchain, which consists: Membership module: A member can broadcast a statement for a new company to join the system. If the statement is signed by a certain amount of members, the system will assign a new account for the new user, and it will receive a certain amount of coins. •Interest rate update module: A member writes the interest rate query result and the deposits it is willing to pay into the candidate block and selects the bookkeeper by the POS consensus algorithm. The bookkeeper broadcasts the block to all enterprise users. •Interest rate verification module: Any member can verify the bank discount rate by leveraging the timestamp in th...