US 12,254,516 B1
Network-based joint investment platform
Joon Maeng, Newcastle, WA (US); Andrew J. Garner, IV, State Road, NC (US); and Brian J. Jacobsen, Elm Grove, WI (US)
Assigned to Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed by Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed on Jan. 10, 2023, as Appl. No. 18/152,284.
Application 18/152,284 is a continuation of application No. 16/222,485, filed on Dec. 17, 2018, granted, now 11,556,991.
Claims priority of provisional application 62/611,875, filed on Dec. 29, 2017.
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 20/32 (2012.01); G06F 16/23 (2019.01); G06Q 20/10 (2012.01); G06Q 20/38 (2012.01); G06Q 40/06 (2012.01); H04L 29/06 (2006.01)
CPC G06Q 40/06 (2013.01) 18 Claims
OG exemplary drawing
 
1. A joint asset management system for executing an action related to an asset jointly managed by a first user and at least a second user, the system comprising:
a first computing device of the first user and a second computing device of the second user, wherein the first and second computing devices are participant nodes on a blockchain;
the first computing device comprising: one or more processors, and a memory communicatively coupled to the one or more processors and storing instructions, which when performed by the one or more processors, cause the one or more processors to perform operations, the operations comprising:
storing a decision rule associated with the first and second users on the blockchain, a set of criteria for the first user, and a set of weights for adjusting the criteria, the decision rule stored as a smart contract on the blockchain;
receiving, from the first user, via a first graphical user interface (GUI) on a display device of the first computing device, a request to execute the action, wherein the asset is a financial investment portfolio and the action is one of buying or selling shares of a financial security of a company;
displaying, via the first GUI, the action, information about the company, selectable elements for buying or selling the financial security, a field for entering a quantity, and a chat window;
determining that the action requires an approval from the second user based upon the decision rule;
synchronizing the display of the action on the first GUI with a display of the action on a second GUI of the second computing device;
identifying that the second user has rejected the action or that the approval from the second user has not been received within a specified time period;
responsive to identifying that the second user has rejected the action or that the approval from the second user has not been received within the specified time period, receiving a selection to start a tie-breaking mode by the first user via the first GUI;
responsive to receiving the selection to start the tie-breaking mode:
evaluating each criterion in the set of criteria and calculating a score using a weighted summation of the evaluated criteria, each criterion of the criteria weighted by a corresponding weight from the set of weights;
identifying that the action is approved based upon the score exceeding a threshold score;
responsive to identifying that the action is approved, causing execution of the action to buy or sell the financial security of the company in an amount specified using the first GUI; and
causing the set of weights for each of the criteria for the first user to be adjusted based upon a machine learning algorithm and the identification that the action is approved wherein the adjusted set of weights is stored on the blockchain.