Oracle Software Company to Offer Blockchain Platform as a Service

There are several enterprises out in the market offering blockchain related products. Now, Oracle has decided to unveil its new blockchain software which will be introduced later this month.

Oracle Corp. Introduces Blockchain Platform

The california-based company will be introducing a blockchain platform and decentralized ledger-based applications. The information has been presented on Monday by Thomas Kurian, president of product development at Oracle.

The second largest software company in the world is already working with Banco de Chile, in order to log inter-bank transactions on an hyperledger. Moreover, the Nigerian government is also implementing distributed ledger technology so as to document customs and import duties on the blockchain.

Additionally, Oracle’s products will be pitched to pharmaceutical companies, which can use the technology behind virtual currencies to track and trace batches of medicine.

There are hundreds of companies – if not thousands – using blockchain technology to improve their services or products. Almost every single industry could be potentiated by embracing distributed ledger technology., an important e-commerce platform from China has decided to protect its customers by tracking the meet shipments imported. Buyers will be able to track how the meet arrived at the store, where it was produced, and if it is properly controlled.

Oracle was able to detect an increasing demand from the market. This is one of the main reasons why it will start providing its clients with the necessary tools to implement the latest technology into their businesses. Mr. Kurian said hat Oracle’s products will be compatible with other platforms as well.

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