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

Building a Tamper-Proof Document Storage System

Blockchain's inherent property of immutability makes it an excellent tool for securing information and records. Once stored in a blockchain, data cannot be modified or updated. This is due to the distributed nature of the and its use of hash functions and cryptography. In this chapter, we'll be leveraging this feature of blockchain to build a module that will secure the contents of a document repository. To achieve this, we'll be using Hyperledger Fabric 1.4. Our solution will record hash signatures for the documents within a repository on a private Hyperledger Fabric network. It will then monitor all the recorded files and check at fixed time intervals to see whether the files have been tampered with or modified. Additionally, it'll check whether any new files have been added or modified. If any changes have...