Distributed ledger based interchange

An interchange network system, comprising:

• at least one processor;
• and
• a memory communicatively coupled to the at least one processor, the memory storing instructions which, when executed by the at least one processor, cause the at least one processor to perform operations comprising:
• receiving an indication of a transaction from a first account of a first institution to a second account of a second institution;
• determining that a blockchain associated with the interchange network system includes a first treasury account for the first institution and a second treasury account for the second institution, and wherein the blockchain stores a plurality of executed transaction records corresponding to a plurality of institutions;
• determining votes of peers in the blockchain to approve or disapprove the transaction;
• determining a first threshold number of the votes of the peers in the blockchain for approving the transaction;
• determining that the plurality of executed transaction records stored in the blockchain comprises an executed transaction record associated with at least one of the first institution or the second institution;
• determining a second threshold number of the votes by decreasing the first threshold number of the votes for approving the transaction in response to determining that the plurality of executed transaction records stored in the blockchain comprises the executed transaction record associated with the at least one of the first institution or the second institution;
• executing a smart contract stored on the blockchain in response to determining the second threshold number of the votes, wherein executing the smart contract further comprises:
• verifying one or more terms of the transaction;
• receiving a plurality of votes from the peers in the blockchain;
• determining a number of approval votes of the peers in the blockchain based on the received plurality of votes of the peers;
• approving the transaction from the first account to the second account based at least partly on the determined number of the approval votes of the peers exceeding the second threshold number of the votes and on the verification of the one or more terms of the transaction;
• transferring a value from the first treasury account to the second treasury account on the blockchain in response to approving the transaction, wherein the value corresponds to an amount of the transaction;
• formatting information relating to the transaction into a transaction messaging format;
• sending messages to the first institution and the second institution, wherein the messages include the information relating to the transaction being approved, and wherein the information relating to the transaction is formatted into the transaction messaging format;
• and
• storing, on the blockchain, at least one record relating to the transfer of the value from the first treasury account to the second treasury account.

One or more non-transitory computer-readable media storing instructions which, when executed by at least one processor, cause the at least one processor to perform operations comprising:

• receiving an indication of a transaction from a first account of a first institution to a second account of a second institution;
• determining that a blockchain associated with an interchange network includes a first treasury account for the first institution and a second treasury account for the second institution, and wherein the blockchain stores a plurality of executed transaction records corresponding to a plurality of institutions;
• determining votes of peers in the blockchain to approve or disapprove the transaction;
• determining a first threshold number of the votes of the peers in the blockchain for approving the transaction;
• determining that the plurality of executed transaction records stored in the blockchain comprises an executed transaction record associated with at least one of the first institution or the second institution;
• determining a second threshold number of the votes by decreasing the first threshold number of the votes for approving the transaction in response to determining that the plurality of executed transaction records stored in the blockchain comprises the executed transaction record associated with the at least one of the first institution or the second institution;
• executing a smart contract stored on the blockchain in response to determining the second threshold number of the votes, wherein executing the smart contract further comprises:
• verifying one or more terms of the transaction;
• receiving a plurality of votes from the peers in the blockchain;
• determining a number of approval votes of the peers in the blockchain based on the received plurality of votes of the peers;
• approving the transaction from the first account to the second account based at least partly on the determined number of the approval votes of the peers exceeding the second threshold number of the votes and on the verification of the one or more terms of the transaction;
• transferring a value from the first treasury account to the second treasury account on the blockchain in response to approving the transaction, wherein the value corresponds to an amount of the transaction;
• formatting information relating to the transaction into a transaction messaging format;
• sending messages to the first institution and the second institution, wherein the messages include the information relating to the transaction being approved, and wherein the information relating to the transaction is formatted into the transaction messaging format;
• and
• storing, on the blockchain, at least one record relating to the transfer of the value from the first treasury account to the second treasury account.