Oracle has announced the that its Oracle Blockchain Cloud Service is now generally available for businesses around the world. Arab Jordan Investment Bank, CargoSmart, Certified Origins, Indian Oil, Intelipost, MTO, Neurosoft, Nigeria Customs, Sofbang, Solar Site Design, and TradeFin are among the many global organizations that already have adopted this blockchain platform.
The Oracle Blockchain Cloud Service allows organizations to easily build blockchain networks to drive more secure and efficient transaction. It also allows them to track goods through supply chains on a global scale. The platform provides customers with a development platform to build their own networks, and to quickly integrate with Oracle SaaS and third-party applications they already use, as well as other blockchain networks and Oracle PaaS services.
Blockchain has the power to fundamentally transform how every industry does business by making interactions more secure, transparent, efficient and cost-effective.
“Blockchain promises to be one of the most transformative technologies of our generation,” said Amit Zavery, executive vice president, Oracle Cloud Platform. “We are excited to announce the availability of Oracle Blockchain Cloud Service. It is the result of years of R&D alongside our valued partners and customers. With Oracle’s platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before.”
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Oracle Blockchain Cloud Service It also enables users to provision blockchain networks, join other organizations, and deploy and run smart contracts to update and query the ledger. The platform has been built on top of The Linux Foundation’s Hyperledger Fabric. It is pre-assembled with all the underlying infrastructure dependencies, container lifecycle management, event services, identity management, REST proxy, and a number of operations and monitoring tools integrated under a single console, expediting the set-up and application development process. Oracle Blockchain Cloud Service is an Oracle-managed cloud platform backed by a 99.95 percent availability SLA, with built-in high availability configuration, autonomous recovery agents, as well as continuous ledger backup capabilities that can enable multi-datacenter disaster recovery across availability domains.
It further benefits from broad capabilities in Oracle Cloud Platform for plug-and-play integration with existing cloud and on-premises applications, API management, and application development environments and tools. Additionally, Oracle is delivering new SaaS applications to use blockchain technology for common use cases, such as track and trace, provenance identification, warranty and usage, and cold chain. The plug-and-play ability with Oracle and third-party applications results in faster integration with diverse systems of record; greatly accelerating time to market and multiplying the returns from using the blockchain platform across different application use cases.
“Blockchain projects are quickly moving from pilot to production as enterprises and governments begin to see the inherent value of distributed ledgers and smart contracts,” said Robert Parker, group vice president of manufacturing and retail insights, IDC. “As spending accelerates, buyers will need an enterprise class platform beyond open source that includes data security and integrity, scalability, manageability, and interoperability.”