Oracle - Global Businesses Embrace Oracle Blockchain Service to Improve Transaction Times and Security

Global Businesses Embrace Oracle Blockchain Service to Improve Transaction Times and Security

It seems that companies all over the world are adopting the Oracle Blockchain Cloud Service, which has been publicly launched on July the 16th. The information has been released by Oracle in a press release.

Oracle Blockchain Cloud Service

The service helps businesses to build blockchain networks and process more secure and efficient transactions. This would allow companies to track goods through supply chains on a global scale. Some of the big names using the platform are Indian Oil, Sofbang, Neurosoft, Arab Jordan Investment Bank, Cargo Smart, Solar Site Design and more.blockchain 300x181 - Global Businesses Embrace Oracle Blockchain Service to Improve Transaction Times and Security

Amit Zaverey, executive vice president at Oracle Cloud Platform commented on the matter:

“Blockchain promises to be one of the most transformative technologies of our generation. 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.”

Blockchain provides more security and transparency to key processes that enterprises need to face every single day. This helps increasing efficiency at the time of doing bureaucratic processes.

Oracle Blockchain Cloud Services provide customers with a development platform that allows them to build their own networks. At the same time, it is possible to quickly integrate it with Oracle SaaS and third-party applications that they already use. Moreover, it allows companies to deploy and run smart contracts to update and query the ledger.

Oracle’s blockchain platform has been built on top of The Linux Foundation’s Hyperledger Fabric. Additionally, it is pre-assembled with the underlying infrastructure dependencies, container lifecycle management, REST proxy and more.

“Blockchain projects are quickly moving from pilot to production as enterprises and governments begin to see the inherent value of distributed ledgers and smart contracts,” explained Robert Parker, group vice president of manufacturing and retail insights, IDC. “As spending accelerates, buyers will need an enterprise class platform beyond open source that includes data security and integrity, scalability, manageability, and interoperability.”

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