COMPUTER-IMPLEMENTED SYSTEM AND METHOD FOR BLOCKCHAIN-ENABLED DOCUMENTATION OF TRADE TRANSACTIONS

Embodiments of the present invention provide a system for blockchain-enabled documentation of trade transactions. The system includes buyer and seller devices for transaction execution, a processor, and a memory unit storing instructions. The system receives transaction documents from these devices,...

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Bibliographic Details
Main Authors Pasha, Azam, Majhi, Rohit
Format Patent
LanguageEnglish
Published 08.08.2024
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:Embodiments of the present invention provide a system for blockchain-enabled documentation of trade transactions. The system includes buyer and seller devices for transaction execution, a processor, and a memory unit storing instructions. The system receives transaction documents from these devices, compiles them for each trade, and watermarks them with a Unique Acceptance Code (UAC). It generates a unique hash, either an Inspection Report Code (IRC) or a Commercial Invoice Code (CIC), for each document, acting as a distinct identifier. These hashes, alongside event types and timestamps, are recorded on the blockchain to ensure transaction data's immutability and transparency. Additionally, the system generates a blockchain certificate for each recorded event, confirming transaction completion and authenticity. This setup leverages the blockchain's inherent properties to provide a secure, verifiable record-keeping system for agricultural trade documents.
Bibliography:Application Number: US202418430121