Back to results
US 10,949,837 B1Granted
Wallet to wallet P2P lending
AssigneeWells Fargo Bank, N.A.
InventorRamanathan Ramanathan
Life of this patent
Estimating the term…
Abstract
Disclosed in some examples are methods, systems, and machine readable mediums for providing P2P lending through mobile wallets. The P2P lending may utilize a central registry or be a fully distributed P2P system. In some examples, the use of a network accessible P2P loan service may simplify the discovery and communication with other mobile wallets throughout the process of obtaining a loan.
Claims20
A method for electronic wallet to electronic wallet lending, the method comprising:
- at a first electronic wallet application executing on a first computing device:
- receiving a broadcast discovery message sent by a second electronic wallet application over a packet-based computer network;
- sending, over the computer network, a response message to the broadcast discovery message to the second electronic wallet application;
- determining that a hop count in the broadcast discovery message is less than zero;
- responsive to determining that the hop count is less than zero, forwarding, over the computing network, the broadcast discovery message to a third electronic wallet application, the broadcast discovery that is forwarded having a decremented hop count;
- receiving a request message from the second electronic wallet application, the request message requesting a loan;
- automatically, and without user intervention, determining that the first electronic wallet application will approve at least a portion of the loan by applying one or more action rules to loan transaction information provided in the request message;
- sending a response indicating that the second electronic wallet application agrees to provide the loan and an indication of terms of the loan;
- receiving a response from the second electronic wallet application indicating acceptance of the terms of the loan;
- responsive to receiving the response, recording the terms of the loan in a block of a distributed blockchain data structure by broadcasting the terms of the loan to a plurality of other electronic wallet applications;
- and
- responsive to recording the terms of the loan in the block of the distributed blockchain, sending funds to the second electronic wallet application.
9 more elements
A device for electronic wallet to electronic wallet lending, the device comprising:
- a hardware processor;
- a memory, the memory storing instructions for a first electronic wallet application, the instructions, when executed by the hardware processor, cause the device to perform operations comprising:
- receiving a broadcast discovery message sent by a second electronic wallet application over a packet-based computer network;
- sending, over the computer network, a response message to the broadcast discovery message to the second electronic wallet application;
- determining that a hop count in the broadcast discovery message is less than zero;
- responsive to determining that the hop count is less than zero, forwarding, over the computing network, the broadcast discovery message to a third electronic wallet application, the broadcast discovery that is forwarded having a decremented hop count;
- receiving a request message from the second electronic wallet application, the request message requesting a loan;
- automatically, and without user intervention, determining that the first electronic wallet application will approve at least a portion of the loan by applying one or more action rules to loan transaction information provided in the request message;
- sending a response indicating that the second electronic wallet application agrees to provide the loan and an indication of terms of the loan;
- receiving a response from the second electronic wallet application indicating acceptance of the terms of the loan;
- responsive to receiving the response, recording the terms of the loan in a block of a distributed blockchain data structure by broadcasting the terms of the loan to a plurality of other electronic wallet applications;
- and
- responsive to recording the terms of the loan in the block of the distributed blockchain, sending funds to the second electronic wallet application.
10 more elements
A non-transitory machine-readable medium, storing instructions for a first electronic wallet application for electronic wallet to electronic wallet lending, the instructions, when executed by a machine, cause the machine to perform operations comprising:
- receiving a broadcast discovery message sent by a second electronic wallet application over a packet-based computer network;
- sending, over the computer network, a response message to the broadcast discovery message to the second electronic wallet application;
- determining that a hop count in the broadcast discovery message is less than zero;
- responsive to determining that the hop count is less than zero, forwarding, over the computing network, the broadcast discovery message to a third electronic wallet application, the broadcast discovery that is forwarded having a decremented hop count;
- receiving a request message from the second electronic wallet application, the request message requesting a loan;
- automatically, and without user intervention, determining that the first electronic wallet application will approve at least a portion of the loan by applying one or more action rules to loan transaction information provided in the request message;
- sending a response indicating that the second electronic wallet application agrees to provide the loan and an indication of terms of the loan;
- receiving a response from the second electronic wallet application indicating acceptance of the terms of the loan;
- responsive to receiving the response, recording the terms of the loan in a block of a distributed blockchain data structure by broadcasting the terms of the loan to a plurality of other electronic wallet applications;
- and
- responsive to recording the terms of the loan in the block of the distributed blockchain, sending funds to the second electronic wallet application.
8 more elements
Dependencies are inferred from the claim text.