Software Giant Oracle to Present Its Blockchain Platform This Month


The blockchain industry keeps expanding. Oracle Corp announced that it will be presenting its platform-as-a-service product. There are several companies that are requesting blockchain products and services but they have sometimes problems to find good providers.

 

Oracle Corp. Presents Blockchain Platform

 

The California-based company, Oracle, will be introducing a new blockchain platform this month. Furthermore, the service will be complemented with decentralized applications that will be unveiled the next month. The information has been given by Thomas Kurian, president of product development, on Monday at Oracle headquarters.

 

Oracle is the second largest software company in the world, and it’s making a strong bet in Blockchain technology. With these products, the main purpose is to eliminate the risks associated with information held centrally by a single entity.

 

At the moment, Oracle is working with several governments and financial institutions around the world. Banco de Chile has decided to work with Oracle in order to log interbank transactions on a hyperledger. Another important client is the Nigerian government which aims to document customs and import duties on a blockchain network.

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Oracle Corporation is a multinational American computer technology company that is located in Redwood Shores, California. In the last year its revenue was 37.73 billion dollars and the net income was $9.34 billion dollars.

 

Worldwide Companies Embrace Blockchain Technology

 

This is not the first time that a software company decides to invest in blockchain technology. Microsoft is one of the most famous companies in the world and it has decided to partner with ConsenSys, an Ethereum-based start-up in order to deliver blockchain solutions to its clients.

 

IBM is another recognized worldwide enterprise that has decided to start working with blockchain technology. Alongside with several others, IBM has destined an important investment plan just to promote blockchain technology services and products. The company has been working with other important enterprises, including Maersk.

 

According to Michael White, CEO of Maersk, the pilot that they are developing has traced a container of flowers that sailed from Mombasa, Kenya to Rotterdam, in the Netherlands.

 

Vincent Clerc, Maersk’s chief commercial officer said:

“The potential from offering a neutral, open digital platform for safe and easy ways of exchanging information is huge, and all players across the supply chain stand to benefit.”

 

JD.com, one of the most important e-commerce platforms in China, has also developed blockchain products that allow it to track food proceedings. In this way, the company provides more information to its customers and reduces the possibilities of providing intoxicated food.

 

The Chief Technology Officer at JD, Chen Zhang, commented:

“Consumers in China do not just want quality imported products, they want to know that they can trust how and where their food is sourced, and blockchain helps us deliver this peace of mind.”

 

Amazon Web Services (AWS), has also decided to introduce blockchain templates for Ethereum and Hyperledger Fabric. Companies have the possibility to create and deploy, in an easy and fast way, secure blockchain networks with open source frameworks.

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Carlos Terenzi

I have a Bachelor’s Degree in International Relations and I write about Cryptocurrencies and European Politics. I live between Buenos Aires and Wroclaw.