Tech Giant Oracle Launches Blockchain Cloud Service Platform

Tech giant Oracle has formally launched its much-anticipated blockchain service, and many global organizations have already jumped aboard the platform.

News of Oracle’s new blockchain platform first came to light in May, as reported by CCN. At the time, Thomas Kurin, Oracle’s president of product development, mentioned how this upcoming platform would be integrated with other existing services.

After Years in The Making, The Platform is Ready for The World

Today, those goals began to come to life. The Oracle Blockchain Cloud Service offers its clients a safe environment to build and test their own networks. Not just that — users will be able to easily integrate Oracle’s Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and third-party applications.

As part of its platform, Oracle offers its clients the chance to program and test smart contracts capable of querying the ledger, as well as join other organizations, or even procure blockchain networks.

The executive vice president of Oracle Cloud Platform, Amit Zavery, said, “We are excited to announce the availability of Oracle Blockchain Cloud Service. It is the result of years of R&D alongside our valued partners and customers. With Oracle’s platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before.”

The Oracle Blockchain Cloud Service is Live and It Comes With New SaaS

The Linux Foundation’s Hyperledger Fabric serves as the base for Oracle’s new platform, which hastens the application development process, as well as its setup. The platform includes identity management, REST proxy, event services, container lifecycle management, and all the underlying infrastructure dependencies.

Brian Behlendorf, Executive Director at Hyperledger, explained:

“Based on Hyperledger Fabric, Oracle’s platform, with its support for interoperability with non-Oracle Hyperledger Fabric instances, will help build further support for open standards and interoperability, while illustrating how quickly, easily and securely businesses can begin utilizing blockchain to improve business processes.”

Oracle is also introducing new SaaS blockchain application,s which allow users to perform tasks such as track and trace, warranty and usage, provenance identification, and cold chain.

Oracle Clients Lauding New Blockchain Platform

CargoSmart, Arab Jordan Investment Bank, Certified Origins, Intelipost, Indian Oil, MTO, Nigeria Customs, Neurosoft, Solar Site Design, Sofbang, and TradeFin are some of the global organizations already using the Oracle Blockchain Cloud Service.

CargoSmart’s CEO, Steve Siu, explained that his company intends on using the platform to simplify the shipping company’s complex processes. He added:

“The comprehensive nature of Oracle’s blockchain cloud platform has allowed us to quickly build prototypes into viable products in several 12-week sprints. So far, we have seen proven productivity gains of over 30% as compared to the other blockchain platforms we tried.”

Andrea Biagianti, CIO of Certified Origins, plans on using the platform to track their products from manufacturing to sales.

“The availability of Oracle’s blockchain service simplifies the implementation and collaboration of all parties included, and represents a real competitive advantage for us. It adds a further level of transparency and information that is valuable for consumers looking for quality products and helps us to support the excellence of the small farms,” he explained.

Featured Image from Shutterstock

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