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Redwood Shores, Calif.—Feb 12, 2019
Businesses around the world have already reaped the benefits of blockchain applications built on Oracle Blockchain Platform. Companies using Oracle’s business-ready blockchain have been able to move from experimentation to production by creating new blockchain applications from scratch or adding blockchain functionality to an existing solution. To support its customers, Oracle has added new features to the platform that help users speed up the development, integration, and deployment of new blockchain applications.
While blockchain can greatly streamline many existing processes surrounding supply chain, identity, cross-border payments, and fraud detection, businesses have struggled to implement blockchain networks within their existing ecosystems. Oracle Blockchain Platform addresses this challenge by streamlining the process of building and integrating blockchain applications across diverse business networks and connecting them into the relevant business processes within these ecosystems.
“Oracle’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,” said Frank Xiong, group vice president, Blockchain Product Development, Oracle. “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.”
Using blockchain applications, Oracle customers are establishing new ways to increase trust in diverse ecosystems and increasing the speed, security and efficiency of a wide range of business processes. Oracle’s rapidly growing list of global customers with production deployments on its enterprise-grade blockchain platform include:
“Oracle’s blockchain solution delivers enterprise performance, security and scalability right out-of-the-box,” said Doug Johnson-Poensgen, CEO and founder of Circulor. “We started with the Oracle Blockchain Platform four months ago and were able to go from zero to a production system spanning multiple organizations involved in ethical sourcing of minerals within a matter of months. Another key advantage is that we were able to integrate Oracle’s blockchain platform into a hybrid blockchain network spanning multiple clouds and easily integrate with our existing systems and applications.”
“Blockchain improves the trust relationship between franchisor and the franchises by including best practices and decentralized access to the transactions. Normally, merchandise acceptance processes are manual and require an operator entering the data into the system. But, for example when a franchise has economic problems, it can repudiate that delivery, saying that it never received the merchandise. They can manipulate the database and, on the other hand, also the franchisor can manipulate it,” said José María Mínguez Gutiérrez, Transactional Services Manager of SERES. “With blockchain and its immutability and traceability of information, all these problems disappear and all parties can trust the data and the transactions.”
With this latest release, Oracle has added unique developer-oriented productivity enhancements and consortium-oriented identity management features, which are critical to diverse organizations conducting business transactions via a blockchain network. New DevOps capabilities make the platform easier to integrate with existing business and IT systems. Additionally, as blockchain becomes an important data store in the enterprise, the platform enables Oracle Autonomous Data Warehouse customers to transparently capture blockchain transaction history and current state data for analytics and to integrate it with other data sources. New features include:
Only Oracle provides a comprehensive blockchain offering, including business-ready Oracle Blockchain Applications Cloud and Oracle Blockchain Platform for developers who need to build or integrate their applications. Oracle’s blockchain applications are built with Oracle Blockchain Platform and seamlessly connect with Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Planning (ERP) Cloud and other Oracle Cloud Applications. Oracle Blockchain Platform is production ready with enterprise-grade capabilities, easy to adopt, and quick to develop upon, accelerating customer’s blockchain journeys and saving their costs.
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly-Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
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