Bank of America Corporation
SYSTEM FOR CONTRACT-BASED INTERACTIONS UTILIZING CONTRACT EXECUTION FLOWS IN ENHANCED-SECURITY PEER-TO-PEER INTERACTION APPLICATIONS

Abstract:

A system for contract-based peer-to-peer resource transfers is provided. The system comprises a controller configured to: generate a resource transfer contract for transferring a resource from a first user device to a second user device, wherein the resource transfer contract comprises a distributed protocol defining a sequential flow of one or more trigger events for triggering a transfer of the resource; distribute the resource transfer contract to the first user device and the second user device; determine that the one or more triggering events have been completed by one or more of the first user and the second user based on communication with the first user device and the second user device; and in response to determining that the one or more triggering events have been completed, transfer the resource to the second user device.