A computer-implemented method for processing blockchain-based guarantee information, the method comprising: receiving, by a blockchain network, a cyphertext of a digital document specifying a guarantee from a first computing device associated with at least a first guarantor and one or more zero-knowledge proofs, ZKPs, related to one or more values associated with the guarantee, wherein the guarantee is made by the at least a first guarantor to a beneficiary, and the digital document specifies one or more predetermined conditions of executing the guarantee, wherein an encryption key for encrypting the digital document to generate the cyphertext of the digital document is derived through encryption key negotiations based on a linear secret sharing scheme; verifying, by the blockchain network, that the one or more ZKPs are correct; upon verifying that the one or more ZKPs are correct, storing , by the blockchain network, the first cyphertext to a blockchain based on performing a consensus algorithm; receiving , by the blockchain network, a first message from the first computing device associated with the at least a first guarantor, the first message including a request to cancel the guarantee; storing , by the blockchain network, the request to cancel the guarantee in the blockchain; sending , by the blockchain network, a second message to a second computing device associated with the beneficiary or a representative of the beneficiary, wherein the second message includes the request to cancel the guarantee; receiving , by the blockchain network, a third message from the second computing device associated with the beneficiary or the representative of the beneficiary, wherein the third message includes a confirmation that the beneficiary accepts cancellation of the guarantee; and updating , by the blockchain network, a status of the guarantee stored in the blockchain to indicate that the guarantee has been canceled. receiving, by a blockchain network, a cyphertext of a digital document specifying a guarantee from a first computing device associated with at least a first guarantor and one or more zero-knowledge proofs, ZKPs, related to one or more values associated with the guarantee, wherein the guarantee is made by the at least a first guarantor to a beneficiary, and the digital document specifies one or more predetermined conditions of executing the guarantee, wherein an encryption key for encrypting the digital document to generate the cyphertext of the digital document is derived through encryption key negotiations based on a linear secret sharing scheme; verifying, by the blockchain network, that the one or more ZKPs are correct; upon verifying that the one or more ZKPs are correct, storing , by the blockchain network, the first cyphertext to a blockchain based on performing a consensus algorithm; receiving , by the blockchain network, a first message from the first computing device associated with the at least a first guarantor, the first message including a request to cancel the guarantee; storing , by the blockchain network, the request to cancel the guarantee in the blockchain; sending , by the blockchain network, a second message to a second computing device associated with the beneficiary or a representative of the beneficiary, wherein the second message includes the request to cancel the guarantee; receiving , by the blockchain network, a third message from the second computing device associated with the beneficiary or the representative of the beneficiary, wherein the third message includes a confirmation that the beneficiary accepts cancellation of the guarantee; and updating , by the blockchain network, a status of the guarantee stored in the blockchain to indicate that the guarantee has been canceled. <EOS>