The Bank of New York Mellon Corporation

Vadim Pertsovskiy

Sarthak Pattanaik

Madhusudan Rana

A processing system allows external systems to customize and extend services without increasing system intricacy. The processing platform maintains cloud containers that support virtual machines for external systems. An external system provides code for execution on a virtual machine that is supported by a cloud container. Cloud containers provide a boundary for executing code such that the processing platform may limit types of code an external system can run at a cloud container. The external system code can provide new services or may build upon existing public services, and external systems may designate their services as being available to other external systems by publishing the access information in a global application programming interface (API) maintained by the processing platform. Since the external systems submit instructions for execution within their assigned cloud containers, the services and applications are developed without affecting the underlying functionality of the processing platform.

System and method of code execution at a virtual machine allowing for extendibility and monitoring of customized applications and services

A central service provider manages a blockchain network that writes the cryptographic hash of each executed transaction in a block to the blockchain network. For each executed transaction, the central service provider generates and transmits a transaction receipt such that a party can verify that the transaction was appropriately executed. Additionally, a party can check that the party's records are correct by providing transaction data describing details of transactions recorded in the party's records to the central service provider. The central service provider verifies the party's records by comparing the transaction data in the party's records to the blocks of transaction records in the blockchain network. In some scenarios, the central service provider may identify or receive an identification of a discrepancy arising from one or more transactions. The central service provider can reconcile the identified discrepancy.

Ensuring data integrity of executed transactions

A central service provider manages verifiable and cryptographically strong transactions in a block chain network. For each transaction, the central service provider maintains and updates one or more directed graphs that describe the traceable positions of an asset held by parties of the block chain network. Therefore, transactions can be reconciled by tracing along the directed graphs. The central service provider also leverages crypto-hashing to enforce the immutability of each executed transaction. For example, each transaction is cryptographically hashed and written into a block in the block chain. Each transaction refers to a cryptographic hash of a prior transaction and each block refers to a cryptographic hash of a prior block. Therefore, the executed transactions are cryptographically strong in that if a single transaction is altered, then the entire block of transactions including the transaction is invalidated.

Managing verifiable, cryptographically strong transactions

A central service provider manages and writes transaction details to a private block chain network. Blocks of transaction records written onto the block chain by the central service provider are distributed to members of the block chain, thereby enabling data resiliency and self-verifiability. As the full block chain is available to members of the block chain network, the central service provider also ensures the privacy of transaction details by providing an assembled header and encrypted block of transaction records that are generated using a combination of symmetric and asymmetric cryptographic techniques. Altogether, the full block chain network is distributed across members of the block chain, but the members can only access and read transaction details in the block chain that they are authorized to view.

Growing community of inventors

Chicago, IL, United States of America

Vadim Pertsovskiy