Smart contract executed within a blockchain

A method of decentralized and anonymous arrangement of a loan, using secure selection of at least one response message from a plurality of response messages including a combination of encrypted and unencrypted data processed by a distributed smart contract function of a distributed blockchain dataset executed by at least one hardware processor of a network connected server, wherein the distributed smart contract is executed as a decentralized application without a third party intermediary, the method comprising:

• receiving, by the distributed smart contract function, from an initiator client terminal, a function message including an unencrypted target value denoting a tender for a total amount of the loan, a threshold approval ratio defining a minimal percentage of the total amount of the loan that the initiator client terminal is willing to accept, and a public key associated with a corresponding private key stored by the initiator client terminal;
• providing the functional message by the distributed smart contract function to a plurality of responding client terminals;
• receiving respective response messages to the function message, by the distributed smart contract function, from the plurality of responding client terminals, each respective response comprising an unencrypted partial value of the target value and a parameter encrypted with the public key, the parameter denoting an interest rate for a partial amount of the total amount of the loan, each respective response denotes a bid for the partial amount of the total amount of the loan at the respective interest rate;
• receiving by the distributed smart contract function from the plurality of responding client terminals, funds of the at least partial amount associated with each respective bid;
• locking the funds received by the distributed smart contract function from the plurality of responding client terminal until at least one of:
• the tender is announced, and the tender times out without winners, wherein during the locking access to the locked funds is denied;
• storing, by the distributed smart contract function, the response messages including the encrypted parameter and the unencrypted partial value received from the plurality of responding client terminals;
• providing, by the distributed smart contract function, the initiator client terminal with access to the response messages including the encrypted parameter when a sum of the unencrypted partial values of the response messages is above the threshold approval ratio and/or when a timeout duration is met;
• executing by client code stored on a storage device of the initiator client terminal performing computations off the blockchain using at least one hardware processor of the initiator client terminal, instructions for:
• decrypting the parameter of each respective response with the private key, analyzing the respective response messages according to a ranking of the decrypted parameters of the respective response messages, and selecting the at least one response message according to the ranking of the decryption of the decrypted parameter denoting the interest rate for the partial amount of the total amount of the loan, wherein a sum of the unencrypted partial values of the selected at least one response message is according to a requirement of the target value;
• receiving, by the distributed smart contract function, from the initiator client terminal, the selected at least one response message, and all decrypted parameters associated with all of the selected at least one response message that were decrypted by the initiator client terminal;
• providing, by the distributed smart contract function to each of the plurality of responding client terminals that provided respective response messages to the function message, including selected responding client terminals that provided the selected at least one response message and non-selected responding client terminals that provided non-selected response messages:
• (i) the selected at least one response message, (ii) all decrypted parameters associated with all of the selected at least one response message that were decrypted by the initiator client terminal, and (iii) all unencrypted partial values of the target value provided in respective response messages to the function message from the plurality of responding client terminals;
• independently validating, by a respective processor executing client code locally stored on each of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals, the selected at least one response according to the received (i), (ii), and (iii);
• receiving, by the distributed smart contract function, a respective indication of the respective validation for the selected at least one response message from at least some of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals;
• in response to the received indication of validation of the selected at least one response message from the at least some of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals, evaluating a consensus for the selected at least one response message amongst the responding client terminals by the distributed smart contract function according to a majority vote percentage computed as a number of indications of validations received from the at least some of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals relative to a total number of responding client terminals that were provided (i), (ii), and (iii), and in response to the majority vote percentage being above a majority vote threshold, unlocking the locked funds by the distributed smart contract function for access by the initiator client terminal to receive the tender for the loan, and access by the non-selected responding client terminals for return of the non-selected tender, and creating, by the distributed smart contract function, a new block for storage in the blockchain, wherein the new block stores, for each of the selected at least one response messages from corresponding responding client terminals providing the indication of validation, the address of the respective responding client terminal, the partial amount, and the unencrypted parameter, wherein the new block is stored in a data storage device accessible to a third client terminal over the network.

A computer program product for decentralized and anonymous arrangement of a loan, using secure selection of at least one response message from a plurality of response messages including a combination of encrypted and unencrypted data processed by a distributed smart contract function of a distributed blockchain dataset, comprising:

• a non-transitory memory having stored thereon a code of the distributed smart contract function of the distributed blockchain dataset for execution by at least one hardware processor of a network connected server, wherein the distributed smart contract is executed as a decentralized application without a third party intermediary, the code comprising instructions for:
• receiving, by the distributed smart contract function, from an initiator client terminal, a function message including an unencrypted target value denoting a tender for a total amount of the loan, a threshold approval ratio defining a minimal percentage of the total amount of the loan that the initiator client terminal is willing to accept, and a public key associated with a corresponding private key stored by the initiator client terminal;
• providing the functional message by the distributed smart contract function to a plurality of responding client terminals;
• receiving respective response messages to the function message, by the distributed smart contract function, from a plurality of responding client terminals, each respective response comprising an unencrypted partial value of the target value and a parameter encrypted with the public key, the parameter denoting an interest rate for a partial amount of the total amount of the loan, each respective response denotes a bid for the partial amount of the total amount of the loan at the respective interest rate;
• receiving by the distributed smart contract function from the plurality of responding client terminals, funds of the at least partial amount associated with each respective bid;
• locking the funds received by the distributed smart contract function from the plurality of responding client terminal until at least one of:
• the tender is announced, and the tender times out without winners, wherein during the locking access to the locked funds is denied;
• storing, by the distributed smart contract function, the response messages including the encrypted parameter and the unencrypted partial value received from the plurality of responding client terminals;
• providing, by the distributed smart contract function, the initiator client terminal with access to the response messages including the encrypted parameter when a sum of the unencrypted partial values of the response messages is above the threshold approval ratio and/or when a timeout duration is met;
• executing by client code stored on a storage device of the initiator client terminal performing computations off the blockchain using at least one hardware processor of the initiator client terminal, instructions for:
• decrypting the parameter of each respective response with the private key, analyzing the respective response messages according to a ranking of the decrypted parameters of the respective response messages, and selecting the at least one response message according to the ranking of the decryption of the decrypted parameter denoting the interest rate for the partial amount of the total amount of the loan, wherein a sum of the unencrypted partial values of the selected at least one response message is according to a requirement of the target value;
• receiving, by the distributed smart contract function, from the initiator client terminal, the selected at least one response message, and all decrypted parameters associated with all of the selected at least one response message that were decrypted by the initiator client terminal;
• providing, by the distributed smart contract function to each of the plurality of responding client terminals that provided respective response messages to the function message, including selected responding client terminals that provided the selected at least one response message and non-selected responding client terminals that provided non-selected response messages:
• (i) the selected at least one response message, (ii) all decrypted parameters associated with all of the selected at least one response message that were decrypted by the initiator client terminal, and (iii) all unencrypted partial values of the target value provided in respective response messages to the function message from the plurality of responding client terminals;
• independently validating, by a respective processor executing client code locally stored on each of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals, the selected at least one response according to the received (i), (ii), and (iii);
• receiving, by the distributed smart contract function, a respective indication of the respective validation for the selected at least one response message from at least some of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals;
• in response to the received indication of validation of the selected at least one response message from the at least some of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals, evaluating a consensus for the selected at least one response message amongst the responding client terminals by the distributed smart contract function according to a majority vote percentage computed as a number of indications of validations received from the at least some of the responding client terminals including the selected responding client terminals and the non-selected responding client terminals relative to a total number of responding client terminals that were provided (i), (ii), and (iii), and in response to the majority vote percentage being above a majority vote threshold, unlocking the locked funds by the distributed smart contract function for access by the initiator client terminal to receive the tender for the loan, and access by the non-selected responding client terminals for return of the non-selected tender, and creating, by the distributed smart contract function, a new block for storage in the blockchain, wherein the new block stores, for each of the selected at least one response messages from corresponding responding client terminals providing the indication of validation, the address of the respective responding client terminal, the partial amount, and the unencrypted parameter, wherein the new block is stored in a data storage device accessible to a third client terminal over the network.