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)
1
Section 1: Blockchain Payments and Remittances
7
Section 2: Blockchain Workflows Using Smart Contracts
9
Section 3: Securing Digital Documents and Files Using Blockchain
11
Section 4: Decentralized Trading Exchanges Using Blockchain
Appendix: Application Checklist

Building the backend services

We need to build backend services that our frontend can access to write the hashes to the Fabric blockchain and read the hashes from the Fabric blockchain.

We'll be creating the Node.js utility using and building the following services:

  • /api/hashwrite: This endpoint exposes a service that is used for calculating the hash of all the artifacts in a directory root, the hash of the file path of all the artifacts, and the hash of the modified timestamp of all the artifacts then submitting them to the blockchain.
  • /api/hashread: This endpoint exposes a service that is used for re-calculating the hash of all the artifacts in a directory root, the hash of the file path of all the artifacts, and the hash of the modified timestamp of all the artifacts then verifying whether they match the hash values recorded in the blockchain. If there is a mismatch...