The blockchain technology is not just for governmental use and cryptocurrencies! Its applications and field range are growing daily, as it is a fantastic solution to streamline process and includes a trust element that some industries are missing. Private corporations and enterprises are adopting it, as well.

And software giant Oracle is one of the most important factors behind the global adoption of blockchain solution by enterprises. The company announced on Tuesday, February 12th, via a press released, that it will be expanding its enterprise-grade Oracle Blockchain Platform.

Simplifying processes and deploying new blockchain applications

Among the new features bundled in the platform is the simplification of the process of integrating existing business and IT systems and developing/deploying new blockchain applications. Thanks to the newly included offerings, Oracle’s clients will be able to enjoy a wide array of developer tools, data integration resources, identity management features, and more. For example, now, customers will be able to integrate blockchain transaction history with other relevant bits of data.

To be even more specific, some of the new features integrated in Oracle’s services for enterprises are history database, enhanced world state database, identity federation, and Hyperledger support for the Fabric version 1.3.

Clients and Other Alliances

Per the press release, some of the high-profile Oracle clients that have successfully included the company’s blockchain applications using its tools are China Distance Education Holdings Limited,and SERES, which is a supply chain-oriented Circulor firm and e-document settlement company.

The US-based multinational computer technology corporation also named examples of other clients, including some international banks and financial institutions, such as SDK Finance, Arab Jordan Investment Bank, and ICS Financial Systems.

Oracle is an American firm with headquarters in Redwood Shores, in the State of California. It is, according to Forbes, the second biggest public software and programming company, after Microsoft. The business makes its money by developing and marketing database software and technology solutions, as well as enterprising products and clouding engineering systems.

Also part of the firm’s offerings is the development and creation of database development resources and systems of middle-tier software, supply management software, enterprise resource planning (ERP) solutions, and tools to manage customer relationships.

“Building Blockchain Applications to Handle Business Transactions”

Frank Xiong, group vice president of Oracle’s Blockchain Product Development department, stated that company’s “continued leadership and investment in enterprise blockchain technology ensures that the platform has all of the critical capabilities organizations need to build blockchain applications to handle their most important business transactions. The number of customers already running blockchain applications based on Oracle’s blockchain platform is testament to the strength of the technology and the value it brings to a broad range of industries.”

Other firms around the world are releasing blockchain-related tools and solutions. Such is the case of IBM, which released its blockchain mainnet out of its Melbourne-located data center this week. The decision will let Australians run their blockchain-based apps on IBM’s cloud whilst bearing with local data regulations.

By Andres Chavez


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