System and method of an automated agent to automatically implement loan activities
AssigneeStrong Force TX Portfolio 2018, LLC
InventorCharles Howard Cella
Life of this patent
Estimating the term…
Abstract
A system and method of an automated agent to automatically implement loan activities includes a data collection circuit structured to receive data related to at least one of a plurality of parties to a loan; a smart contract circuit structured to create a smart lending contract for the loan; and an automated agent circuit structured to automatically perform a loan-related action in response to the received data, wherein the loan-related action is a change in an interest rate for the loan, and wherein the smart contract circuit is further structured to update the smart lending contract with the changed interest rate.
Claims20
A system, comprising:
- a set of processing devices that execute a set of computer-executable instructions that when executed cause one or more of the set of processing devices to:
- receive data related to at least one of a plurality of parties to a loan;
- receive collateral-related data related to a plurality of items of collateral acting as security for the loan;
- identify a group of off-set items of collateral distinct from the plurality of items of collateral, wherein each member of the group of off-set items of collateral and at least one of the plurality of items of collateral share a common attribute;
- determine, via a valuation model, a value for at least one of the plurality of items of collateral based at least in part on the group of off-set items of collateral and the received data;
- and
- instantiate a smart contract for the loan,
- wherein the smart contract includes computer-readable instructions that when executed by the one or more of the set of processing devices causes the one or more of the set of processing devices to auto-execute a loan-related action in response to the received data,
- wherein the loan-related action is a change in an interest rate for the loan based at least in part on the value of the at least one of the plurality of items of collateral;
- generate a block containing data corresponding to the changed interest rate;
- generate a hash value of the block;
- and
- link the block to a historical blockchain via the hash value.
A method, comprising:
- receiving data related to at least one of a plurality of parties to a loan;
- receiving collateral-related data to a plurality of items of collateral acting as security for the loan;
- identifying off-set items of collateral distinct from the plurality of items of collateral, wherein each of the off-set items of collateral and at least one of the plurality of items of collateral share a common attribute;
- determining, via a valuation model, a value for at least one of the plurality of items of collateral based at least in part on the group of off-set items of collateral and the received data;
- instantiating a smart contract for the loan;
- performing, via the smart contract, a loan-related action in response to the received data, wherein the loan-related action is a change in an interest rate for the loan based at least in part on the value of the at least one of the plurality of items of collateral;
- generating a block containing data corresponding to
- the changed interest rate;
- generating a hash value of the block;
- and
- linking the block to a historical blockchain via the hash value.
Dependencies are inferred from the claim text.