With more and more work being done with the blockchain technology to effectively provide cloud customers with enhanced security in digital and financial transactions with the use of encrypted database architecture, Oracle too seems all set to jump on the bandwagon.
As per the session description for Oracle’s OpenWorld conference to be held in October, Oracle is all prepared to roll out its Blockchain Cloud Service. It will bring a high-level security to the cloud that enterprises can trust when carrying out the transactions.
With it, Oracle will be able to help enterprises with a highly differentiated and advanced enterprise grade distributed ledger cloud platform. The customers will be able to build new blockchain based applications and extend their existing on-premises, SaaS, PaaS and IaaS applications as well. With the move, Oracle aims to focus on strengthening the basic technology foundation of distributed ledgers, simplify and accelerate blockchain deployment and support customer use cases.
It will be able to not only help the financial world but also the industries such as health, energy, supply chain, music, video, social media, and government.
Oracle had joined the Hyperledger Fabric project recently. “Oracle joined the Hyperledger consortium because of the consortium’s approach to blockchain using open source collaboration, modular architecture, horizontal/cross-industry technology support, and support for enterprise needs. Oracle looks forward to participating in Hyperledger for the benefit of our global customer base and the market at large.”– Eric Jacobsen, Product Marketing Director, Oracle.
Hyperledger is a global collaboration which focuses on business blockchain fireworks. The Linux Foundation hosts the Hyperledger which includes authorities in banking, IoT, finance, supply chain, manufacturing and technology.
The objective of Oracle Blockchain Cloud Service will be the development and integration of blockchain applications with Oracle Cloud App Dev platform and in-built DevOps abilities. It will address mission critical enterprise needs of scalability, integration, robustness, security, and performance.
Oracle will offer the Blockchain Cloud Service as Platform as a Service (PaaS) to make it easy for the customers to deploy, configure, and monitor blockchain and reduce the cost of blockchain deployment in an enterprise.