	US 11,989,703 B2
	Method and system of blockchain disbursements
Soumyajit Mitra, New York, NY (US); Jamal Khan, Ridgefield, NJ (US); Oskar Duris, Walnut Creek, CA (US); Sasyasri Geedipalli, Rye Brook, NY (US); and Shashi Raghunandan, Old Greenwich, CT (US)
Assigned to MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US)
Filed by MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US)
Filed on Aug. 2, 2021, as Appl. No. 17/391,490.
Prior Publication US 2023/0033361 A1, Feb. 2, 2023
Int. Cl. G06Q 20/40 (2012.01); G06F 16/28 (2019.01); G06Q 20/04 (2012.01); G06Q 20/06 (2012.01); G06Q 20/22 (2012.01); G06Q 20/32 (2012.01); G06Q 20/34 (2012.01); G06Q 20/38 (2012.01); G06Q 50/00 (2012.01); H04L 29/06 (2006.01); G06Q 20/10 (2012.01); G06Q 20/36 (2012.01)

CPC G06Q 20/0655 (2013.01) [G06Q 20/227 (2013.01); G06Q 20/3825 (2013.01); G06Q 20/3827 (2013.01); G06Q 20/3829 (2013.01)]

8 Claims

1. A method for facilitating benefit disbursements through the use of tokens and blockchain, comprising:

receiving, from a recipient device, by a receiver of a processing server, registration data of a recipient of one or more aid benefits provided by one or more aid organizations, the registration data including at least a recipient device identifier and recipient identifying information of a recipient qualified to receive the one or more aid benefits;

executing, by a querying module of the processing server via a communication module of the processing server, a query on a recipient database comprising inserting a recipient profile including the registration data;

receiving, by a receiver of the processing server, a disbursement token and the recipient identifying information from a benefits disbursement computing system associated with one of the one or more aid organizations;

executing, by the querying module of the processing server via the communication module of the processing server, a query on the recipient database comprising identifying the recipient profile;

executing, by the querying module of the processing server via the communication module of the processing server, a query on a token database comprising storing a token profile, the token profile including at least the disbursement token and the recipient identifying information;

generating, by a generation module of the processing server, a cryptographic key pair including a private key and a public key;

generating, by the generation module of the processing server, a digital signature using the private key and a destination address using the public key;

executing, by the querying module of the processing server via the communication module of the processing server, a query on the token database comprising updating the token profile with the cryptographic key pair;

generating, by the generation module of the processing server, a machine readable code, the machine readable code encoded with at least the digital signature and the disbursement token;

transmitting, by the generation module of the processing server via the communication module of the processing server, the machine readable code to the transmitting device of the processing server;

identifying, by the processing server, the recipient device based on at least the recipient identifying information;

transmitting, by the transmitter of the processing server, a notification message to the recipient device, wherein the notification message includes the machine readable code;

transmitting, by a transmitter of the processing server, a blockchain data entry to a blockchain, the blockchain data entry including at least the disbursement token and the destination address;

receiving, by the receiver of the processing server, a redemption message from a merchant computing system, the redemption message including at least the disbursement token, the digital signature, transaction account data, and a redemption amount;

validating, by a processor of the processing server, the digital signature using the public key of the cryptographic key pair, wherein the validating the digital signature includes:

executing, by the querying module of the processing server via the communication module of the processing server, a query on the token database comprising identifying the token profile that includes the disbursement token included in the redemption message;

transmitting, by a transmitter of the processing server, a transfer message to the benefits disbursement computing system associated with the one of the one or more aid organizations, the transfer message including at least the transaction account data and the redemption amount;

receiving, by a receiver of a financial entity computing system, a payment instruction from the benefits disbursement computing system, the payment instruction including at least the transaction account data, the redemption amount, and source account data; and

initiating, by a processor of the financial entity computing system, an electronic payment transaction for payment of the redemption amount from a first transaction account associated with the source account data to a second transaction account associated with the transaction account data.