Oracle Launches A New Blockchain Platform

Oracle

In this month of May, Oracle Corp, an established software icon shall be the latest to enter the blockchain space. The company has announced that it will present its main platform as-a-service Blockchain product.

More Partnerships to Follow

Once it has presented its platform as a service blockchain product, the company plans to roll out a series of other projects. According to the head of product development in that company, Thomas Kurian, applications that are based on blockchain would be the next project this software mogul will present to its customers. Kurian went ahead to note that this product would be easily compatible with a host of other platforms.

Oracle Corp is also currently working with the government of Nigeria to assist it in documenting customs and import duties using this new blockchain system.

Oracle appears to have some better plans even for the future. It has plans of soliciting companies dealing with pharmaceutical products to help in tracing and tracking their products. This is one of the brilliant ways of getting rid of problems associated with product recalls.

Blockchain Embraced by Software Providers

A number of software firms have embraced the use of Blockchain system to make several processes easy. The two main companies that have explored the Blockchain space for commercial uses are International Business Machines Corp. and the cloud unit of Amazon Inc.

Similar Projects by Amazon

As a means of offering a swift way of designing and deploying safe Blockchain networks, Amazon Web Services has created brand new Blockchain templates for Hyperledger Fabric and Ethereum.

This system will be working with open source frameworks. The templates that have been created by Amazon Web Services will enable customers to use both the Hyperledger and Ethereum frameworks that have authorized Amazon Web Services CloudFormation templates. The customers will now have an opportunity to emphasize on coming up with Blockchain applications as opposed to spending energy and time on setting up their Blockchain system through manual means. This will be brought to an end.

One of the companies that have applauded the efforts of Oracle in the Blockchain market is BlockApps, an affiliate member of Microsoft Corp. through its CEO, Victor Wong, the company has stated that Oracle’s new responsibility as a senior database service provider has provided businesses with tools such as smart contracts that come with new functionalities.

Blockchain as an Enterprise Solution

Two years ago, ConsenSys, an Ethereum-based firm partnered with Microsoft to provide their clients with an enterprise solution-blockchain, particularly to the cloud-based Azure products.

On the other hand, International Business Machines, IBM began working on blockchain projects a couple of years ago. This started when it formed a unit that was entirely dedicated to the blockchain network. The unit has employed close to 2,000 workers.

The Chief Executive Officer of Salesforce.com Inc., Marc Benioff also has good plans for the users of blockchain network. He disclosed that it would introduce a blockchain service around this fall. All these are meant to make this entire market well known and beneficial to its current user-base.

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