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Blockchain for Enterprise

You're reading from Blockchain for Enterprise Build scalable blockchain applications with privacy, interoperability, and permissioned features

Product type Paperback

Published in Sep 2018

Publisher Packt

ISBN-13 9781788479745

Length 220 pages

Edition 1st Edition

Languages

Solidity

Tools

Blockchain

Concepts

Blockchain

Author (1):

Narayan Prusty

View More author details

Table of Contents (10) Chapters

Preface

1. What are Decentralized Applications? FREE CHAPTER

2. Building Blockchain Using Quorum

3. Writing Smart Contracts

4. Getting Started with web3.js

5. Building Interoperable Blockchains

6. Building Quorum as a Service Platform

7. Building a DApp for Digitizing Medical Records

8. Building a Payment Solution for Banks

9. Other Books You May Enjoy

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Overview of the payment system

In this chapter, we will build a payment solution to be integrated in mobile banking apps. This solution will let customers send payment using a cell phone number. Sending payments to anyone in the world using just a cell phone number would be the most friendly way to send payments.

Our solution will use digitalized fiat currency for the settlement and clearance of InterBank transfers. To understand why we choose to use digitalized fiat currency as the medium of settlement, let's understand how the settlement and clearance is done for InterBank transfers and its issues.

Settlement and clearance of InterBank transfers

Let's first understand how domestic InterBank transfers work. Every county's central bank has one more different types of centralized electronic fund transfer systems. For example, the Immediate Payment Service (IMPS) in India, Automated Clearing House (ACH) in the US, and Electronic Funds Transfer (EFT) in Canada. These systems are used by the...

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Authors (1)

Narayan Prusty

Narayan Prusty

Narayan Prusty is a full-stack developer. He works as a consultant for various start-ups around the world. He has worked on various technologies and programming languages but is very passionate about JavaScript, WordPress, Ethereum, Solr, React, Cordova, MongoDB, and AWS. Apart from consulting for various start-ups, he also runs a blog titled QNimate and a video tutorial site titled QScutter, where he shares information about a lot of the technologies he works on.

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