OriginTrail Network and Oracle Blockchain Cloud Service Enter a Technology Partnership
OriginTrail, the European-based IT firm known for traceability solutions, has announced blockchain collaboration with Oracle for integration into the latter's Blockchain Cloud service.
In the apparent partnership, OriginTrail and Oracle expect to establish incorporation between the OriginTrail network and Oracle products for seamless data sharing capabilities. Enterprise software built by Oracle such as ERPs and cloud services will get the chance to utilize benefits derived from using different legacy as well as other models of distributed ledger technologies. And with strong integration efforts in place, Oracle intends to use techniques that only meet the industry standards.
“Oracle offers businesses an easy way to adopt blockchain and transform enterprises with the comprehensive and enterprise-grade blockchain platform. Integration with the OriginTrail network enables easier data sharing between companies along the supply chains, all based on distributed ledger technologies,” said Rajko Novak, Managing Director at Oracle Slovenia.
Already it is becoming evident that blockchain could transform how every business runs by enhancing interactions with more security, transparency, efficiency, and cost-effectiveness. The Oracle Blockchain Cloud Service provides customers with such a platform to build, and deploy their network for integration with Oracle's SaaS or other third-party applications in use. With its foundation using the Hyperledger Fabric protocol, adding OriginTrail bring the much-needed development to increase the efficiencies of data on a global level.
“Partnership with OriginTrail brings Oracle's enterprise-grade technology closer to specific supply chain purpose. This enables us to extract more value out of data being exchanged in the multi-organizational environment,”
Companies already using the Oracle products and services will easily start implementing OriginTrail's solutions, and integrate their Oracle systems to a variety of blockchains. The OriginTrail Protocol helps bridge the gap on lack of interoperability between Oracle's solutions and blockchains. As such, the partnership makes blockchain adoption easier for global supply chains and enterprises.
In the occasion marking the partnership event, OriginTrail's Co-founder, Tomaz Levaks, expressed the value that enterprises can gain from the new product combination. He says:
“There is a lot of value that can be captured from the data sharing across supply chains. A partnership with OriginTrail will enable companies that are already using Oracle products and services to use OriginTrail's solutions easily, and the easier integration of Oracle's systems with various blockchains.”
The integration of OriginTrail protocol has a definite cause to helping Oracle tackle issues of data interoperability and interconnectivity. The protocol's design of an open and neutral structure allows it to become an interoperable bridge for different systems within supply chains. In this way, OriginTrail becomes a vital tool in Oracle's goal of harnessing the power of blockchains such as Ethereum and Hyperledger Fabric for their enterprise solutions. OriginTrail hopes to unravel more on the integration efforts in the coming weeks.
OriginTrail is a trustless, blockchain-based protocol network that allows for the sharing, uploading and storing of data. OriginTrail (TRAC) builds its protocol to meet the industry standards necessary for data sharing in supply chains such as IoT and GS1