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

Developing a Currency Trading Exchange for Market Making

This chapter extends the idea of a decentralized exchange from the previous chapter and shows you how to build a market maker. Market makers are intermediaries that facilitate cross-border and cross-currency transactions, by allowing remittors to convert the remitting amount into a different currency. Let's say you are working in Europe and want to remit money back to your family in India: a market maker will convert the remitting amount into Indian Rupees (INR) from Euros (EUR). Market makers are interesting, in the context of decentralized payment and remittance networks (such as Stellar and Ripple), because these networks gather the exchange rates from all the market makers on the network and allow the remittor to view them in a single platform. This platform is called the distributed exchange. This promotes competitive...