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 remittance platform

Before we run our remittance application, make sure the following actions have been carried out:

  • The Stellar private network has been set up and is online.
  • The USD asset has been issued and the Stellar accounts for the banks have been created and funded.
  • The bank's internal databases have been created and test customer data has been entered.
  • The federation servers have been set up.
  • The compliance servers have been set up.
  • The bridge servers have been set up.
  • The callbacks servers have been set up.
  • The app interface and backend server have been built.

If even one of these has not been completed, please ensure that you do so before going through this section. First, let's bring all the backend components and servers online:

  1. Navigate to the /federationA and /federationB directories and bring the servers online using the ./federation command...