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

Blockchains for financial services

There are many advantages offered by blockchain technology that make it suitable for application in financial services. The technology can help us overcome numerous shortcomings and inefficiencies of present day Banking and Financial systems. The following are some of these areas:

  • Reconciliation: Reconciliation is an expensive and time-consuming affair across almost all financial products and services. The delayed visibility of transactions or information across organizations leads to delayed settlement for the end customer. Cross-border and domestic payments, trade settlement, trade finance, and letter-of-credit settlement are examples of some workflows that are more time-consuming and expensive due to the effort spent on reconciling data between organizations. Blockchains can help eliminate or reduce reconciliation costs and time. Transactions...