So, we finally finished building our remittance platform. This chapter gives you good insight into how to build off-chain workflows that can augment blockchain platforms to build new-age solutions for the banking and finance industry. An upgraded version of this platform can be used for transparent, faster, and secure cross-border remittances by banks and other financial institutions. You can also look at it to create global payment networks that participants can connect to and remit very easily while ensuring existing KYC/AML norms are met for such remittances.
We started this chapter by looking at what a blockchain cross-border remittance system looks like and how blockchain can help eliminate many of the lacunas in the existing system. Then, we built a platform to demonstrate these benefits by leveraging the Stellar network. We looked at and set up the various components...
