Real-time net settlement by distributed ledger system

A computer program product for using a block chain distributed network for facilitating real-time net settlement, wherein the computer program product comprises at least one non-transitory computer readable medium comprising computer readable instructions, the instructions, when executed by a computer processor, cause the computer processor to:

• receive, at a node of a block chain distributed network, a transaction record associated with a transaction between a payor and a payee, wherein the payor is associated with a payor bank and the payee is associated with a payee bank;
• access a distributed ledger, wherein the distributed ledger is updated based on communications from the block chain distributed network;
• determine, from the distributed ledger, a net position between the entity and a third party;
• determine whether the transaction record is associated with the entity as a payor bank or a payee bank and:
• if the entity is the payor bank and the third party is the payee bank, debit the net position in the amount of the transaction;
• and
• if the entity is the payee bank and the third party is the payor bank, credit the net position in the amount of the transaction,
• thereby resulting in an updated net position between the entity and the third party;
• and
• record the updated net position on the distributed ledger.

A computer implemented method for using the block chain distributed network for facilitating real-time net settlement, the computer implemented method comprising:

• receiving, at a node of a block chain distributed network, a transaction record associated with a transaction between a payor and a payee, wherein the payor is associated with a payor bank and the payee is associated with a payee bank;
• accessing a distributed ledger, wherein the distributed ledger is updated based on communications from the block chain distributed network;
• determining, from the distributed ledger, a net position between the entity and a third party;
• determining whether the transaction record is associated with the entity as a payor bank or a payee bank and:
• if the entity is the payor bank and the third party is the payee bank, debiting the net position in the amount of the transaction;
• and
• if the entity is the payee bank and the third party is the payor bank, crediting the net position in the amount of the transaction, thereby resulting in an updated net position between the entity and the third party;
• and
• recording the updated net position on the distributed ledger.