Users of Blockchain applications can now benefit from Oracle Blockchain Applications Cloud that Oracle launched at the recent OpenWorld Annual Conference in San Francisco. The new Cloud computing solution acts as a utility use-case-specific Software-as-a-Service suite that targets businesses, and individuals whose work require data efficiency and real-time reporting.
It Is A Cloud That Hosts A Suite Of Blockchain Applications
Software-as-a-Service is a technological solution that enables users to apply given software to replace traditional solutions in their daily activities. For instance, a driver using an application such as Uber to find passengers for his taxi.
In the same perspective, the Oracle Blockchain Applications cloud will be utilized by various users who need agility when they carry out transactions across their enterprise networks. Therefore, users will be applying the Cloud technology features from the new platform as a tool that meets their business need ends.
Enhancing Transparency in the Supply Chain
Supply chains are usually complex, shrouded in mystery and ridden with inefficiencies. These issues affect retailers and wholesalers are they usually incur additional costs when due to delay and administration costs. Additionally, producers of the goods may incur losses when their goods fail to reach the market or when they are exploited by middlemen. Lastly, the government and quality assurance institutions can be unable to trace the origin of some products that may pose a health risk to consumers. The end result is that it becomes expensive to produce, operate a business, or to buy consumer products in the economy when a supply chain is ineffective.
The business-ready Blockchain applications Cloud solution that Oracle has launched will be appropriate to users who are likely to be affected by a faulty supply chain. The first solution of the SaaS will be to enhance transparency and traceability. The second solution will entail reducing the number of middlemen who may slow down the movement of goods and data in the supply chain. Lastly, the Cloud service will eliminate paperwork usage that is prone to manipulation to misrepresent facts leading to artificial market distortions.
The implications of Oracle Cloud solution will be that many businesses will adopt Blockchain solutions to trace the movements of products in the supply chain since there is a state-of-the-art Cloud from Oracle to host their platform data. The use of DLT in transactions will increase trust in business operations, contract execution, and product delivery.
Oracle Cloud Features
Oracle Blockchain Applications Cloud is best suited for a large variety of Blockchain platforms. A combination of features that from Oracle Blockchains include; Oracle Enterprise Resource Management (ERP) Cloud, Oracle Supply Chain Management (SCM) Cloud, Oracle Blockchain Cloud Service, and others make the DLT networks applicable for the Oracle Cloud.
The Cloud has the following features; Intelligent Track and Trace, Warranty and Usage Tracking, Intelligent Cold Chain, and Lot Lineage and Provenance. The structures guarantee automation, security, speed, transparency, trustworthiness, and efficiency that Business Blockchain platforms require.
Other Companies such as SAP and IBM offer similar Cloud services for Blockchain platforms such as Oracle. The SVP of Oracle SaaS product marketing, Juergen Lindner, reveals that more businesses will be deploying Blockchain platforms. Lindner is assuring everyone that Oracle Cloud will enhance their efforts and Blockchain networks’ performance.