Tech giant Oracle has formally launched its much-anticipated blockchain service “Blockchain Cloud Service” generally available globally including in India. The service for enterprises, will help businesses build Blockchain networks to drive efficient transactions.
The Oracle Blockchain Cloud Service offers its clients a safe environment to build and test their own networks. Moreover, its users will be able to easily integrate Oracle’s Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and third-party applications.
Indian Oil, Arab Jordan Investment Bank, CargoSmart, Certified Origins, Intelipost, MTO, Neurosoft, Nigeria Customs, Delhi-based Sofbang, Solar Site Design and TradeFin are among the organisations which are an early adoptor of Oracle’s blockchain platform.
“We are excited to announce the availability of Oracle Blockchain Cloud Service. 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,” Amit Zavery, executive vice-president of Oracle Cloud Platform, said in a statement.
Notably, the Oracle blockchain platform is built on top of “Hyperledger Fabric”, an open-source project governed by Linux foundation, interoperable with non-Oracle versions of Fabric using compatible releases, accessible from cloud and on-prem applications via REST APIs and Hyperledger SDKs.
Oracle also claims that its blockchain platform is Industry’s 1st and only autonomous blockchain cloud platform to simplify operations and enable customers to focus on applications with Oracle-managed service monitoring, automated recovery, and zero-downtime patching.
Oracle is also 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.
“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.
The executive vice president of Oracle Cloud Platform, Amit Zavery, said, “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.”
To recall, last month global credit card giant Mastercard filed a patent through which it is exploring the usage of Blockchain technology in securely verifying payment cards at the point-of-sale (PoS), in order to curb skimming of credit cards.
Also, in the same month Indian government’s policy think tank, NITI Aayog, and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) signed a Statement of Intent (SoI) to use blockchain technology in fertilizer subsidy disbursal and management.
Recently, India’s telecom regulator TRAI (Telecom Regulatory Authority of India) also intended to utilize blockchain technology to curb pesky & irritating telemarketing spam calls.