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

Running the corporate remittance app

Let's bring our blockchain network and application online. Make sure your Fabric network is up and running and the corprem chaincode is deployed. Also, ensure that identities have been created for writing to and reading transactions from the blockchain network for both the banks.

Also, ensure that the databases are set up with the test data. Do a quick check to see both the IPFS nodes are running. Bring the backend servers for both Bank A and Bank B online.

Let's start our React app, as follows:

  1. Navigate to your React project environment. Start the React app with the following command:
npm start 
  1. Open your browser and navigate to the home page for the app. The app should look like this:
  1. Let's log in to the app with the Acme Inc user. Click on the button that says Login as Acme Inc. A transfer screen like the following one...