Summary
In this chapter, we learned some of the basic concepts of banking and how InterBank transfers are settled and cleared. We also learned about SWIFT and how it works. Then we jumped into advanced network permissioning in Quorum and learned about the --permissioned flag.
Finally, we built a new type of fund-transfer system, which settles payment using digitalized fiat currency and a cell phone number for customer identification. We built the whole solution on a blockchain, which minimizes the reconciliation effort and solves lots of issues that it was not possible to solve previously.
