Oracle Blockchain Cloud Service: Mainstream blockchain adoption just got one step closer
© Shutterstock / fotogestoeber
It’s been two months since Oracle joined the Hyperledger consortium and now the tech giant is taking another step towards showing its interest in blockchain — they just announced Oracle Blockchain Cloud Service.
It wasn’t that long ago that people thought we still have years before blockchain goes mainstream. First came banks, then IT companies — now tech giants like Oracle are joining 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 Blockchain Cloud Service: Overview
We already knew (courtesy of this blog post) that Oracle was planning to make a Blockchain Cloud Service available and now it’s finally here. “The advanced, enterprise-grade distributed ledger cloud platform helps customers increase business velocity, create new revenue streams, and reduce cost and risk by securely extending ERP, supply chain, and other enterprise SaaS and on-premises applications to drive tamper-resistant transactions on a trusted business network,” according to the official announcement.
Oracle Blockchain Cloud Service’s goals are to:
- Deliver business results with the ability to rapidly onboard and easily scale the network participants globally, while ensuring that operations run continually with resilience, high availability, and autonomous recoverability.
- Accelerate innovation with Oracle Cloud Applications by extending enterprise boundaries to reduce friction in existing business processes and enable new business models and opportunity to access untapped revenue streams. The Applications Integration toolkit provides integrated applications, sample code, templates and design patterns to accelerate the integration of Blockchain applications to Oracle SaaS and on premises applications suites.
- Speed up business processes through trusted real-time information sharing across existing Oracle ERP Cloud, Oracle SCM Cloud, Netsuite SuiteCloud Platform or custom blockchain application integrations.
- Reduce risk, complexity, and increase efficiency by securely automating cross-organization transactions, and providing reliable sharing of information both inside and outside the enterprise boundary. Combined, these can help reduce transaction costs, mitigate security and privacy risks for enterprises, and simplify compliance and audits. With a pre-assembled, managed cloud platform, customers can also simplify operational complexity, dynamically change network configurations and rapidly identify and resolve issues with real-time monitoring dashboards. Furthermore, as blockchain technology rapidly evolves, Oracle plans to stay on top of the latest capabilities and helps ensure customers are not exposed to undue risk of technological churn.
- Accelerate time to market with REST API-driven platform and rich integration options in Oracle Cloud Platform. Start developing blockchain applications within minutes without complex setup and provisioning, and leverage API-driven development for cloud or on-premises applications using REST API and API management service to easily invoke blockchain services directly or with pre-built integrations from Oracle Cloud.
For more information about Oracle Blockchain Cloud Service, blockchain and its benefits, check out the Oracle Blockchain Cloud Service website.
If you want to know more about what blockchain is and Hyperledger’s role in taking the technology behind Bitcoin to the next level, you’ve come to the right place. We talked with Arnaud Le Hors, Senior Technical Staff Member of Web & Blockchain Open Technologies at IBM about developers’ interest in blockchain, Fabric — a blockchain framework—, and more.