Thesis

Starting the project

After cloning the project you have the possibility to run npm install to install all dependencies. For running the further environment skip to the following Truffle section.

Used technology

In this project React, Solidity and Truffle have been used to enable a decentralized MVP for the processing of an L/C

React

Metamask serves as the connector between Frontend and Backend. It is a Remote Client that includes a Wallet to enable account management of the accounts provided by the local test network (Truffle/Ganache).

web3 is a library serving to facilitate interactions with Smart Contracts

tailwind is used to facilitate the styling of Frontend components implementing class-based style-type selection

Solidity

is used to develop the main building blocks of a decentralized L/C. It includes the following components:

• Lc.sol provides
• Esrow.sol implies logic for the main Escrow functionality that is been used to free up funds on product transfer.
• LcFactory.sol shall be used to manage the issuance process of L/Cs
• EURT.sol shall serve as stable medium of exchange. A stablecoin implementation combining deposited Euro and issued ERC-20 tokens enable users of L/Cs to hedge against forex risks.
• Auction.sol is the Logic Layer to allow external investor to profit from the participation in L/C transactions

Truffle

facilitates the development process, due to its integration with ganache. It allows us to run a private network.

After installation you are able to run the following commands

truffle compile truffle develop truffle migrate