Receive all Cointelegraph news immediately in Telegram.
Oracle joins the Blockchain bandwagon with new cloud-based “Blockchain as a service”
Oracle Corporation opened its annual conference ‘Oracle Openworld’ with a bang, as it announced its new Blockchain service. Yesterday, the SaaS giant joined the likes SAP to compete directly in Blockchain cloud services. Its new Blockchain cloud service aims to give enterprise customers who want to get involved with the Blockchain a fully managed approach.
According to Amit Zavery, senior vice president at Oracle Cloud,
“There are not a lot of production-ready capabilities around Blockchain for the enterprise. There [hasn’t been] a fully end-to-end, distributed and secure Blockchain as a service.”
Mr. Zavery said that the use of Blockchain can "fundamentally transform how business is done, making business-to-business interactions more secure, transparent, and efficient.”
Oracle joins IBM in building their Blockchain cloud service on top of the Hyperledger Fabric project. Oracle had previously announced that they would be building their cloud service on top of the open source Hyperledger this August.
The software giant believes that they can add value and help companies interested in Blockchain technology by offering the base capabilities of the open source technology. They plan to add security and APIs to build Blockchain applications on top.
The company has had interest in Blockchain for a while now, having filed a patent for a Blockchain-based system to improve its internal processes back in September 2016.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: