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

Setting up the bridge server

As the name suggests, the bridge server will 'bridge' the operations carried out by the federation server, the compliance server, the Horizon client-server and the Stellar Core. The requestor will submit payment requests to the bridge server and it will interface between these four components to ensure compliance checks are carried out and the transaction is submitted to the blockchain. Follow these steps to set up the bridge server:

  1. Download the bridge server release from the Stellar website here (https://github.com/stellar-deprecated/bridge-server/releases). Select the binary corresponding to your OS version.
  2. Extract the binary file and copy the extracted folder. Paste and create two copies of the extracted folder labeled bridgeA and bridgeB.
  3. Create a file called bridge.cfg inside the extracted folders and open it in a text editor. Configure...