Paper 2021/1193
JUBILEE: Secure Debt Relief and Forgiveness
David Cerezo Sánchez
Abstract
JUBILEE is a securely computed mechanism for debt relief and forgiveness in a frictionless manner without involving trusted third parties, leading to more harmonious debt settlements by incentivising the parties to truthfully reveal their private information. JUBILEE improves over all previous methods: - individually rational, incentive-compatible, truthful/strategy-proof, ex-post efficient, optimal mechanism for debt relief and forgiveness with private information - by the novel introduction of secure computation techniques to debt relief, the “blessing of the debtor ” is hereby granted for the first time: debt settlements with higher expected profits and a higher probability of success than without using secure computation A simple and practical implementation is included for “The Secure Spreadsheet”. Another implementation is realised using Raziel smart contracts on a blockchain with Pravuil consensus.
Metadata
- Available format(s)
-
PDF
- Category
- Applications
- Publication info
- Preprint. MINOR revision.
- Keywords
- secure computationmechanism designdebt forgiveness
- Contact author(s)
- david @ calctopia com
- History
- 2021-09-17: received
- Short URL
- https://ia.cr/2021/1193
- License
-
CC BY
BibTeX
@misc{cryptoeprint:2021/1193,
author = {David Cerezo Sánchez},
title = {{JUBILEE}: Secure Debt Relief and Forgiveness},
howpublished = {Cryptology {ePrint} Archive, Paper 2021/1193},
year = {2021},
url = {https://eprint.iacr.org/2021/1193}
}
