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Blockchain builds a growing list of unalterable records (called blocks) that are linked together to form a chain and securely distributed among participants. It allows organizations that might not fully trust each other to agree on a single, distributed source of truth.
Blockchain minimizes the cost and delays of using third-party intermediaries for financial transactions. It also eliminates manual, error-prone processes, and information redundancy.
Blockchain has the potential to fundamentally transform global businesses across multiple industries. It enables a trusted business network to transact directly over a peer-to-peer network—without the delays and cost of third parties—while still ensuring the validity and integrity of the transactions.
Blockchain offers a ready-to-go, enterprise-grade solution that enables businesses to increase business velocity, extend enterprise boundaries, and reduce operational costs.
“This will enable customers to extend their current Oracle ERP and SaaS solutions to use trusted business networks for securely conducting B2B transactions in real-time across their ecosystem of trading partners.” —Indranil Mukherjee, Vice President, Head of Oracle Practice, Infosys
Blockchain does not require a central administrator. In contrast, a traditional (SQL or NoSQL) database is controlled by a single entity. It’s an important difference that means:
Hyperledger is an open source project started by the Linux Foundation to advance cross-industry collaboration of blockchain technologies. As part of its commitment to help enterprises realize the benefits of blockchain, Oracle has joined this global effort. By leveraging open source and maintaining interoperability with core protocols, Oracle will enable customers to drive the direction and pace of integration across business systems.