Secure offline approval of initiated data exchanges

A computer-implemented method, comprising:

• receiving, by one or more processors, transaction data that characterizes a transaction initiated at a terminal device, the transaction data comprising a first transaction value of the initiated transaction;
• obtaining, by one or more processors, and from a client device, first data elements of a distributed ledger and first cryptographic data, the first data elements comprising second transaction values of prior transactions involving the client device, and the first cryptographic data comprising a first public key certificate of the client device;
• by one or more processors, authenticating the client device based on a validation of the first public key certificate, and determining a balance of funds available to the client device based on the second transaction values;
• authorizing, by one or more processors, the initiated purchase transaction when the balance of available funds exceeds or is equivalent to the first transaction value;
• transmitting, by one or more processors, first confirmation data indicative of the authorized transaction to the client device, the first confirmation data comprising the first transaction value;
• receiving, by one or more processors, and from the client device, a second data element of the distributed ledger that tracks an impact of the initiated transaction on the balance of funds available at the client device, the second data element comprising a first application cryptogram associated with an application program executed at the client device;
• by one or more processors, and based on a verification of the first application cryptogram, storing the second data element within a data repository and performing operations that execute the initiated transaction in accordance with the received transaction data.

A tangible, non-transitory computer-readable medium storing instructions that, when executed by at least one processor, cause the at least one processor to perform a method, comprising:

• receiving transaction data that characterizes a transaction initiated at a terminal device, the transaction data comprising a first transaction value of the initiated transaction;
• obtaining and from a client device, first data elements of a distributed ledger and first cryptographic data, the first data elements comprising second transaction values of prior transactions involving the client device, and the first cryptographic data comprising a first public key certificate of the client device;
• authenticating the client device based on a validation of the first public key certificate, and determining a balance of funds available to the client device based on the second transaction values;
• authorizing, by one or more processors, the initiated purchase transaction when the balance of available funds exceeds or is equivalent to the first transaction value;
• and
• transmitting first confirmation data indicative of the authorized transaction to the client device, the first confirmation data comprising the first transaction value;
• receiving, from the client device, a second data element of the distributed ledger that tracks an impact of the initiated transaction on the balance of funds available at the client device, the second data element comprising an application cryptogram associated with an application program executed at the client device;
• based on a verification of the first application cryptogram, storing the second data element within a data repository and performing operations that execute the initiated transaction in accordance with the received transaction data.