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

Deploying the LC Master smart contract

To deploy the smart contract, first bring your Ganache blockchain online. Make sure your Ganache test server is running on localhost:8545. To do so, select the New Workspace option from the Ganache launch screen. Click on the Server tab on the Workspace screen. Set the port number to 8545, as shown in the following screenshot:

Click on Save Workspace in the upper-right corner. A blockchain network will be started, as follows:

Let's deploy the contracts we built earlier to our Ganache blockchain, as follows:

  1. Open a Terminal window and navigate to your truffle project directory. Bring the truffle console online by entering the following command:
truffle console
  1. Copy and paste the LCMaster.sol and LC.sol contracts into the contracts directory in your truffle project.
  1. As shown in the following screenshot, navigate back to the truffle...