Bank of America Corporation
System for executing, securing, and non-repudiation of pooled conditional smart contracts over distributed blockchain network

Abstract:

Embodiments of the present invention provide a system for executing, securing, and non-repudiation of pooled conditional smart contracts over a distributed blockchain network. In particular, the system may receive an instrument request from a beneficiary entity, where the instrument request includes an instrument amount. The system can then identify a lead contribution amount that a lead entity is willing to provide to meet a portion of the instrument amount. A set of supporting entities can be identified as willing to provide supporting contribution amounts to meet the remainder of the instrument amount. A conditional contract can be sent to each supporting entity that, when signed, authorizes the system to transfer contribution amounts, which may be in the form of cryptocurrency, from blockchain addresses of the lead and supporting entities to a blockchain address of the beneficiary entity. Once the instrument amount has been secured, the system executes the transactions.