Oracle Announces the Launch of the Oracle Blockchain Applications CloudOct 24, 2018, 9:38AM
Oracle will launch four new blockchain applications catered to supply chain management use cases called the Oracle Blockchain Applications Cloud.
Oracle announced this week at Oracle OpenWorld that it would launch a suite called the “Blockchain Applications Cloud” which will be composed of four separate blockchain applications that will handle transaction processing scenarios using IoT data sources.
These new applications will include a set of “business network templates” compatible with common business processes and will be integrated by design with several Oracle Cloud Applications like the Enterprise Resource Management (ERP) Cloud, and the Oracle Supply Chain Management (SCM) Cloud, among others.
At the moment, Oracle´s Blockchain Applications Cloud will focus on supply chain management use cases, including intelligent temperature tracking or “intelligent cold chain”, track and trace capabilities, warranty tracking, usage tracking, and proof of provenance services for valuable products like drugs and other chemicals.
Atul Mahamuni, VP of IoT and Blockchain at Oracle shared some insights on how the apps would work,
So what we do is we get events and insights from IoT systems, as well as from supply chain ERP data, and we get those insights and translation from all of this and then put them into the blockchain and then do the correlations and artificial intelligence machine learning algorithms on top of those transactions.
Oracle has been hard at work developing blockchain-based products, a little more than a year after joining the Hyperledger Consortium in August 2017. This last May, the company announced that it was already working alongside Banco de Chile to register transaction data on a hyperledger, and with Nigeria´s government to integrate their document customs and other import duties on a blockchain.
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