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Oracle Is Ready To Launch Their New Blockchain Based Cloud Service Platform

When something has been in the making for years, the anticipation for its launch is understandably heightened. So it is quite obvious that the market is abuzz, post Oracle’s launch of their new blockchain service. Oracle finally entered the blockchain-as-a-service industry with this launch, following in the footsteps of other tech giants like IBM, Hewlett-Packard Enterprise (HPE), Microsoft, SAP

This new product is a basically a blockchain cloud service which would provide its clients with a safe environment to test and launch their proof-of-concepts but without the capital costs required by an internal deployment. Oracle would also offer up their services like Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and third-party applications for users to integrate. What’s interesting here is that the SaaS blockchain applications would allow users to perform functions like tracking and tracing, warranty and usage, provenance identification, and cold chain. Amit Zavery, the executive vice president of Oracle Cloud Platform said that they 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.

The new platform is based on the Linux Foundation’s open source Hyperledger Fabric platform, which means a faster pace of application development and setup process which would also be incredibly secure. Among other things, the platform would provide identity management, REST proxy, event services, container lifecycle management, and all the underlying infrastructure dependencies.

Among some of the international organizations who have already jumped on the bandwagon are CargoSmart, Arab Jordan Investment Bank, Indian Oil, Nigeria Customs, etc.

Certified Origins, which is a Tuscany based olive oil producer, have already rolled out a blockchain proof of concept that would allow them to track their products from manufacturing to sale. Their CIO, Andrea Biagianti has said

The main purpose for which the project was born, and what we are evaluating in these days of testing, is the Blockchain algorithm that is related to the greater transparency that we can provide thanks to traceability.