WeBank Applies for "Financial Transaction K-Line Reuse" Patent: Enhancing Transaction Efficiency and Reducing Data Storage Costs

WeBank Applies for "Financial Transaction K-Line Reuse" Patent: Enhancing Transaction Efficiency and Reducing Data Storage CostsOn January 22, 2025, the State Intellectual Property Office of China revealed that WeBank (Shenzhen Qianhai WeBank Co., Ltd

WeBank Applies for "Financial Transaction K-Line Reuse" Patent: Enhancing Transaction Efficiency and Reducing Data Storage Costs

On January 22, 2025, the State Intellectual Property Office of China revealed that WeBank (Shenzhen Qianhai WeBank Co., Ltd.) filed a patent application titled "Method, System, and Storage Medium for Reusing K-Lines of Financial Transactions," with publication number CN119273468A and an application date of September 2024. The core of this patented technology lies in improving the processing efficiency of financial transaction data and reducing data storage costs. Its innovation centers on the effective reuse of invalid block data in a blockchain for K-line chart generation and analysis.

• The patent abstract details the technical specifics of this method. First, the method retrieves invalid blocks from the blockchain resulting from block revocation, extracting the original transaction data sequence X and the replacement transaction data sequence Y contained within. Next, the system constructs a (m+1)(n+1) matrix C, where 'm' represents the number of transaction subsequences in sequence X, and 'n' represents the number of transaction subsequences in sequence Y. The elements of matrix C are calculated sequentially from C00 to Cmn. By backtracking from Cmn, the system identifies consecutive identical transaction subsequences in sequences X and Y.

Subsequently, the method calculates the proportion of consecutive identical transaction subsequences within sequence X and uses these proportions to calculate a transaction integrity value H. If H is less than a preset first threshold, the system determines that sequence X has a high reuse rate, thus confirming that the K-line containing sequence X can be reused. This judgment mechanism utilizes algorithms to identify reusable data segments, avoiding redundant calculations and storage, ultimately enhancing efficiency and reducing costs.

This patented technology significantly optimizes the processing workflow of financial transaction data. In traditional financial transaction systems, invalid block data on the blockchain is often discarded, resulting in resource waste. WeBank's patented technology cleverly utilizes this invalid data, identifying and matching useful information through algorithms for reuse in K-line chart generation. This reduces redundant data storage space and lowers computational demands for data processing, ultimately improving overall system efficiency.

For financial institutions, efficient data processing capabilities are crucial. Real-time processing and analysis of massive transaction data are key to the stable operation of financial businesses. WeBank's successful patent application marks significant progress in improving data processing efficiency, providing new ideas and methods for financial technology innovation.

As a bank focused on fintech innovation, WeBank has consistently explored and applied cutting-edge technologies to enhance the efficiency and security of financial services. This "Method, System, and Storage Medium for Reusing K-Lines of Financial Transactions" patent is another significant achievement in its technological innovation journey. Its application can not only optimize internal transaction systems and improve operational efficiency but also provide technical support to other financial institutions, promoting more advanced and efficient fintech solutions.

It's noteworthy that WeBank places great importance on technology research and development and intellectual property protection. Tianyancha data shows that WeBank was established in 2014 with a registered capital of RMB 391.82 million and a paid-in capital of RMB 300 million. The company has participated in 59 bidding projects, holds 775 trademark registrations, 3435 patent registrations, and 109 administrative licenses. This data fully reflects WeBank's strength in technological innovation and market competition and demonstrates its emphasis on intellectual property rights. Continuous R&D investment and intellectual property protection are crucial for WeBank to maintain its competitive advantage and drive fintech innovation.

The impact of this patented technology on the financial industry is undeniable. With the continuous growth of financial transaction data, efficient data processing and storage technologies are becoming increasingly important. WeBank's patented technology provides a new and effective solution to this problem. Its application prospects are broad, extending beyond traditional financial transaction systems to encompass emerging financial fields such as digital currencies and blockchains.

In summary, WeBank's "Method, System, and Storage Medium for Reusing K-Lines of Financial Transactions" patent is a technologically innovative achievement. By cleverly utilizing invalid data from the blockchain, it enhances the efficiency of financial transaction data processing and reduces data storage costs. The application of this technology will bring significant benefits to the financial industry and drive further development of fintech. WeBank's continuous technological innovation and emphasis on intellectual property protection set a good example for other financial institutions. In the future, we can expect this technology to be applied in more financial scenarios, contributing to the digital transformation and development of the financial industry. WeBank's continued exploration and innovation in the fintech field deserve our attention and expectation. Its investment and accumulation in the field of intellectual property have laid a solid foundation for its long-term development. We believe that WeBank will continue to contribute more to the progress of fintech in the future. The successful application of this patent has also added new vitality to the development of China's fintech industry. In today's rapidly evolving technological innovation landscape, WeBank's initiative will undoubtedly have a profound impact on the entire industry. We have reason to believe that similar innovative technologies will emerge continuously, driving the financial industry towards greater efficiency, security, and convenience. WeBank's success also provides valuable experience and reference for other financial institutions. In the future, we believe that more financial institutions will invest in technological innovation, jointly promoting the progress and development of fintech, and striving to build a better financial future.