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 our app

Let's bring our wallet online and run the application to see how it works. Make sure your Ganache blockchain is running and the contracts are deployed. Let's run our React development server:

  1. Run the following command in the project directory:
npm start 

By default, the app should run on port 3000.

  1. To access the app, enter localhost:3000 in your browser. The app should open up in the browser, as shown in the following screenshot:
  1. You need to sign in with your MetaMask credentials so the app can access your primary account. After signing in, you should get another popup, as shown in the following screenshot. You need to permit the app access to MetaMask:

On granting access, MetaMask returns an array of accounts to the app including your primary account in the 0th location. Hence, the app should now be rendered with your primary Ethereum account...