Blockchain-based trustable gurantees
A blockchain, guarantor technology, applied in digital data protection, homomorphic encrypted communication, secure communication devices, etc., can solve problems such as expensive, inefficient message routing, and time-consuming
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[0058] This paper describes techniques for processing letters of guarantee based on blockchain networks. These techniques generally involve receiving, from a computing device associated with the applicant, an application for a bond issued by at least a first guarantor to a beneficiary, wherein the application includes information related to the identity of the applicant, the identity of the beneficiary, and one or more information associated with a plurality of predetermined conditions; generating a digital version of the bond based on information included in the application; encrypting the digital version to generate a ciphertext of the bond; generating a or Multiple zero-knowledge proofs (ZKPs); the ciphertext of the guarantee to the blockchain network and one or more zero-knowledge proofs to store the ciphertext of the guarantee on the blockchain, where the ciphertext of the guarantee is in one or After multiple zero-knowledge proofs are successfully verified by the blockch...
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