The blockchain industry is growing. Every day, more and more technology providers are joining the growing list of software and hardware businesses working with encryption technology services. Companies like Amazon Web Services, IBM, Microsoft or BlockApps, a Microsoft affiliate, and now, the most recent to integrate to the industry, Oracle, are changing the way fintech market works.

Yesterday Thomas Kurian, the President of Product Development at Oracle, announced Oracle’s new blockchain platform service that will be officially unveiled by the end of May.

Oracle, in coalition with Banco de Chile, will allow users to log inter-bank transactions on a hyperledger by using this platform. Oracle also plans to solicit pharmaceutical companies with a need for tracking and tracing batches of medicine, as a way to alleviate the burdens of products recalls. According to Kurian, this platform is currently in the processes of working with the Nigerian government in efforts to document customs and import duties on the blockchain.

This growing addition to mainstream companies in the blockchain industry, means a big victory for the blockchain community. The resources of these businesses can help the technology to make new boundaries and help its benefit the common user, and equally to the industry behemoths.


by Samuel Larreal


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