Blockchain Development with Hyperledger
by Salman A. Baset, Luc Desrosiers, Nitin Gaur, Petr Novotny
Recapping the process
Alice wanted to buy computers from Bob, and used the letter of credit process to facilitate this exchange. She bought goods in dollars, but was charged in Euros. She was able to be confident that the goods met her terms and conditions before she paid for them.
Bob sold computers to Alice, an overseas customer he didn't previously know. The letter of credit process allowed him to be confident that he would receive payment for his goods in his local currency, US dollars, as long as Alice was happy with the goods.
Matias and Ella, representatives of Dinero Bank and Eastwood Bank, respectively, provided a system that allowed Alice and Bob to trust that each would fulfill mutually agreeable conditions in order to receive ...
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