Author: Jagdish Kumar, India
In order to help clients business adopt with Blockchain technology, US based multinational computer technology corporation, Oracle has launched Blockchain cloud service to its clients.
Initially, the company has launched the service for selected clients that also includes an Indian company, Indian Oil, along with other companies namely, Arab Jordan Investment Bank, CargoSmart, Certified Origins, Intelipost, MTO, Neurosoft, Nigeria Customs, Sofbang, Solar Site Design and TradeFin.
The company has been testing its cloud service with these selected customers for the last few months.
With this launch, the company believes that it can become a market leader in adopting this technology at the earliest and its clients can transact business more safely by setting up and managing their networks of distributed ledgers using Blockchain technology.
Speaking on this, Oracle Cloud Platform vice president Amit Zaveri said that we see a large opportunity for Oracle Blockchain to be adopted and becoming the market leader in the space.
Zaveri said that with our database, application portfolio as well as middleware technologies, Blockchain is very logical for us to build on. We see our customers adopting this as we continue delivering updates in this area.
Blockchain promises to be one of the most transformative technologies of our generation. This will become a core part of our cloud platform. This is a very important investment as well as a differentiated offering for us, Zaveri stressed.
The company’s Blockchain platform is built on Hyperledger Fabric, which is hosted by Linux Foundation. In 2017, Oracle joined Linux Foundation’s Blockchain arm.
The platform allows Oracle Cloud to integrate with existing cloud and on-premises applications, API management, and application development environments and tools.
Oracle Blockchain Cloud Service will provide customers with a development platform to build their own networks, and to integrate with Oracle SaaS (software as a service) and third-party applications they already use, as well as other Blockchain networks and Oracle PaaS (platform as a service) services.
The platform will also enable users to provision Blockchain networks, join other organizations and deploy and run smart contracts to update and query the ledger.
Apart from companies, the platform can also be implemented for citizens service for which the company is already in talks with the central government and few state governments.
Image credit: oracle.com