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

Creating the LC module React app

Our React app will have the following users and features. It will allow end users to interact with our smart contracts through a frontend layer, as follows:

  • Bank: The bank user who logs in to the app. The user can create and view LCs.
  • Buyer: The buying merchant who requests an LC from the bank. The Buyer can view all the LCs issued in their name by the bank.
  • Seller: The selling merchant who will approach the bank for settlement, on the successful delivery of their goods to the buying merchant. The Seller can view the LCs that include them as a beneficiary and submit a settlement request.

Broadly, the app will have the following React components:

  • Address Bar: Displays the account used to access the app in real time.
  • Description: A component that provides a description of the app.
  • Nav: A component that implements a navigation bar, with the bank...