Oracle Corporation becomes the latest in a series of software companies to enter the Blockchain industry. It will start introducing Blockchain based apps from next month, June 2018.
Oracle Corporation is a world-famous American multinational computing technology company. It specializes in various software and technology including customer relationship management (CRM) and supply chain management (SCM) software. In 2015 it became the second largest software maker by revenue after Microsoft.
The Blockchain applications by Oracle will help up various governments and governmental organizations around the world.
According to Thomas Kurian, Oracle’s president of product development, Oracle is helping Banco de Chile in logging interbank transactions on Hyperledger. Oracle is also assisting Nigeria’s government in solving the organization of customs and import duties using Blockchain technology.
There are also plans of Oracle helping pharmaceutical companies to track and trace batches of medicine so that product recalling will be far efficient and more manageable.
Oracle first unveiled the Blockchain platform back in October 2017 to help in extending its existing cloud services.
At the unveiling in October 2017, Frank Xiong Oracle’s group vice president said-
“This blockchain platform will give customers a platform to extend their services beyond their enterprise bundle, which means they can extend them outside to their business partners, advantage customers and so on.”
Oracle has also been involved with Linux Foundation’s open source Blockchain project Hyperledger to strengthen the foundation of distributed ledger technology (DLT).
Oracle joins some other software companies in adopting Blockchain technology to solve world problems.
Amazon Web Services (AWS) has already introduced Blockchain templates for Ethereum and Hyperledger Fabric to provide a faster and easier way for users to build Blockchain applications.
Even Microsoft partnered with Ethereum based ConsenSys on delivering Blockchain as an enterprise solution for clients of the cloud-based Azure service.
IBM too is part of the technology companies adopting Blockchain, by forming a unit solely for Blockchain projects with more than 1500 employees.
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