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

Writing the smart contract code

For our project, we'll be creating one fungible and one non-fungible token. Our fungible token will be a payment token called MoolahCoin. Our non-fungible token will be an apartment ownership token called Condos. We'll also be creating a wallet that can hold both fungible and non-fungible tokens.

We will be using Truffle Suite and the Ganache blockchain for building and deploying our smart contracts. For writing our smart contract, we'll be using the OpenZeppelin Solidity library version 2.2. OpenZeppelin is a nifty resource that provides smart contract templates for developing DApps. It is a suite of tested and community-approved smart contracts that can be used as building blocks for production-grade blockchain applications.

The OpenZeppelin framework consists of reusable contract code for Ethereum and other Ethereum Virtual Machine...