Book Image

Blockchain Development for Finance Projects

By : Ishan Roy
Book Image

Blockchain Development for Finance Projects

By: Ishan Roy

Overview of this book

Blockchain technology will continue to play an integral role in the banking and finance sector in the coming years. It will enable enterprises to build transparent and secure business processes. Experts estimate annual savings of up to 20 billion dollars from this technology. This book will help you build financial apps using blockchain, guiding you through enhancing popular products and services in the banking and finance sector. The book starts by explaining the essential concepts of blockchain, and the impact of blockchain technology on the BFSI sector. Next, you'll delve into re-designing existing banking processes and building new financial apps using blockchain. To accomplish this, you'll work through eight blockchain projects. By demonstrating the entire process, the book helps you understand everything from setting up the environment and building frontend portals to system integration and testing apps. You will gain hands-on experience with the Ethereum, Hyperledger Fabric, and Stellar to develop private and public decentralized apps. Finally, you'll learn how to use ancillary platforms and frameworks such as IPFS, Truffle OpenZeppelin, and MetaMask. By the end of this blockchain book, you'll have an in-depth understanding of how to leverage distributed ledgers and smart contracts for financial use cases.
Table of Contents (17 chapters)
Section 1: Blockchain Payments and Remittances
Section 2: Blockchain Workflows Using Smart Contracts
Section 3: Securing Digital Documents and Files Using Blockchain
Section 4: Decentralized Trading Exchanges Using Blockchain
Appendix: Application Checklist

Section 1: Blockchain Payments and Remittances

Blockchain was first used for transferring and establishing the provenance of assets between individuals and organizations without depending on a middleman. This makes payments and remittances the oldest and most mature application of blockchain technology. Today, the technology has evolved to support a number of enterprise use cases revolving around payments and remittances, including retail payments, cross-border remittances, and corporate remittances. Several banks and financial enterprises around the world have recognized the disruptive nature of this technology in payments and are actively experimenting with workflows and applications that will form a core component of their IT infrastructure in the near future.

In the next five chapters, we will look at four such applications. We'll start by introducing blockchain in financial services and will then proceed toward building a wallet for transferring and storing assets. Next, we'll build a blockchain-enabled payment gateway for an e-commerce website. Lastly, we'll look at how we can leverage blockchain to cut out the inefficiencies and delays in corporate remittances and retail cross-border remittances.

This section comprises the following chapters:

  • Chapter 1, Blockchain in Financial Services
  • Chapter 2, Building a Blockchain Wallet for Fungible and Non-Fungible Assets
  • Chapter 3, Designing a Payment Gateway for Online Merchants
  • Chapter 4, Corporate Remittances and Settlement
  • Chapter 5, Enabling Cross-Border Remittances with Real-Time KYC/AML Verification