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

Summary

So, we finally finished building our payment gateway and ecosystem. I really hope this project gives you insight into how blockchain apps work on the Ethereum mainnet with each other leveraging the shared ledger, especially in a financial scenario.

This ecosystem can easily be used in an enterprise environment as well. Replace ether with any ERC20-based asset token you need to work with, such as fiat currency, land, or commodities. You might also consider running this on Ropsten or a larger Ethereum test network after you build it on Ganache and compare it with how exchanges such as Coinbase or Binance or payment gateway services such as Bitpay or Coingate work.

We started this chapter by looking at what a payment ecosystem in a blockchain looks like and its components. We discussed HD wallets and block confirmations in blockchain payments. Then, we leveraged our knowledge...