US 12,243,109 B2
Systems and methods for enhanced organizational transparency using a credit chain
Joe Vieira, Wilmington, DE (US); Kam Sat Lee, Westerville, OH (US); Murali Pingali, New Albany, OH (US); Michael Cornell, Delaware, OH (US); Suresh Shetty, Monmouth Junction, NJ (US); Samer Falah, Staten Island, NY (US); and Ankur Sambhar, Thane West (IN)
Assigned to JPMORGAN CHASE BANK, N.A., New York, NY (US)
Filed by JPMORGAN CHASE BANK, N.A., New York, NY (US)
Filed on Feb. 24, 2023, as Appl. No. 18/174,232.
Application 18/174,232 is a division of application No. 17/066,084, filed on Oct. 8, 2020, granted, now 11,615,482.
Application 17/066,084 is a division of application No. 15/234,263, filed on Aug. 11, 2016, granted, now 10,915,969, issued on Feb. 9, 2021.
Prior Publication US 2023/0214939 A1, Jul. 6, 2023
Int. Cl. G06Q 40/12 (2023.01)
CPC G06Q 40/12 (2013.12) 15 Claims
OG exemplary drawing
 
1. A method for inter-linking dependent processes across multiple parties using smart contracts, comprising:
a back end for a lending financial institution receiving a first communication comprising an identification of a vehicle being purchased with a loan and an identification of an insurer that insures the vehicle;
the back end for the lending financial institution generating a smart contract that directs the back end to restrict access to the vehicle in response to the vehicle not being covered by insurance;
the back end for the lending financial institution writing the smart contract to a ledger as a first block in a linked transaction chain;
the back end for the lending financial institution receiving, from the ledger, notice that the vehicle is no longer insured in a second block in the linked transaction chain written by the insurer; and
the back end for the lending financial institution automatically executing the smart contract, wherein automatically executing the smart contract causes a communication with the vehicle that disables the vehicle.