Secured and Speedy Transactions with Oracle Blockchain Service - TeknoGadyet
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Friday, August 3, 2018

Secured and Speedy Transactions with Oracle Blockchain Service

Many businesses around the world has adopted the usage of Oracle Blockchain Cloud Service. Among the organizations who trusted the service are Arab Jordan Investment Bank, CargoSmart, Certified Origins, Indian Oil, Intelipost, MTO, Neurosoft, Nigeria Customs, Sofbang, Solar Site Design and TradeFin.

Secured and Speedy Transactions with Oracle Blockchain Service
Secured and Speedy Transactions with Oracle Blockchain Service

The service is known for allowing organizations to easily build blockchain networks for more secure and efficient transactions. Aside from that, it also can track goods through supply chains on a global scale. The good news is the service is now generally available in the market.

Blockchain brought forth great change and transformation to the way every industry does business by ensuring security, transparency, efficiency and cost-effectiveness in interactions. Oracle Blockchain Cloud Service helps customers build their own networks through development platforms. It also allows them to quickly integrate with Oracle SaaS and other third-party applications, as well as other blockchain networks and Oracle PaaS services. The service enables users to provision blockchain networks and join other organizations, as well as deploy and run smart contracts to update and query the ledger. The platform leverages the decades of experience across industries of companies along with its extensive partner ecosystem to be able to reliably share and carry out trusted transactions with suppliers, banks, and other trade partners in the blockchain.

Amit Zavery, the Executive Vice President of Oracle Cloud Platform, deems Oracle Blockchain Cloud Service to be one of the most transformative services of our generation. The successful release of Oracle Blockchain Cloud Service was a result of research and development with valued partners and customers through the years. With Oracle’s platform now readily available in the market, businesses can now enhance themselves while eliminating unnecessary processes. Transactions with distributed networks would also be easier, transparent, secured than ever before.

See Also: Oracle Teams Up with Chatbox to Bring Instant Apps to AI-powered Oracle Intelligent Chatbots

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 is built on top of The Linux Foundation’s Hyperledger Fabric and is pre-assembled with all the underlying infrastructure dependencies, container lifecycle management, event services, identity management, and REST proxy.  A number of operations and monitoring tools are also integrated under a single console, expediting the setup and application development process.

“As spending accelerates, buyers will need an enterprise class platform beyond open source that includes data security and integrity, scalability, manageability, and interoperability.” - Robert Parker, Group Vice President of Manufacturing and Retail Insights, IDC

Moreover, it possesses broad capabilities 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 results in faster integration of diverse systems of record; greatly accelerating time to market and multiplying the returns from using the blockchain platform across different application use cases.

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