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

Running the currency exchange

Make sure you have completed the following steps before you complete this section:

  1. Bring the private Stellar network online.
  2. Create user accounts and fund them with native currency.
  3. Create the currency assets USD, GBP, and EUR and fund the trading accounts.
  4. Extend the trustlines.

If you haven't completed the preceding steps, you can go back and finish those, come to this section, and proceed as follows:

  1. To start the currency exchange, navigate to the React project direct and run the following command:
npm start 
  1. The app should open in the browser and should look like the following screenshot:
  1. Copy the secret key for one of the trading accounts. Paste it in the box and click on Submit:
  1. Notice the Stellar account and the asset balances. Now, let's submit a new buy order. Let's submit a buy order for $1 at £0.8.
  2. Click on...