Oracle IT Corporation Approves General Release of Its Blockchain Platform

 

On July 16th the US Integrated Cloud Application and Platform Service Oracle acknowledged the total issue of its blockchain platform. The startup undergoes a number of tests with banking, business and government customers.

Oracle Blockchain Cloud Service (OBCS) which is based on extending business processes and applications pays attention on operation operability and supply chain identification, applying Hyperledger Fabric which is a platform for distributed ledger solutions, underpinned by a modular architecture delivering high degrees of confidentiality, etc., as its basis.

Current users of a pre-issue form of the product involve Arab Jordan Investment Bank (AJIB), Indian Oil and Nigeria Customs.

Oracle is not alone in its attempts to impact blockchain for supply chain and operation rationalization. According to the recent news, Ireland-based professional services and management consulting giant Accenture is in the middle of a coordinated move to give analogous results pointing the airspace industry, also with Hyperledger Fabric.

As soon as a customer signs up to Oracle’s Blockchain Cloud Service – a part of the Oracle Cloud Platform – they can utilize the platform to construct a blockchain computer network and then let Oracle control the network infrastructure.

Current comprehension of blockchain within the scope of banks is mixed, with some establishments and organizations putting question about the real value of the technology for the banking industry.