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

Running the tamper-proof application

Let's run our application.

Make sure that the Hyperledger Fabric network is running:

  1. Bring the backend server online:
node hashcheck
  1. Next, bring the React app online. Navigate to the react directory and enter the following command:
npm start
  1. The app should now open up in your browser, as shown in the following screenshot:
  1. We need to provide a test directory that we'll be monitoring with our app.

I've created a mock test directory, as shown in the following screenshot. Feel free to create your own directory or use a preexisting one:

  1. Next, we will enter the absolute path of the directory in our app to secure it:
  1. Click on Submit to proceed. The app will next hash the files in our directory and capture them to the blockchain. The app will then monitor each of the files in the directory:
  1. The green banner and the...