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Oracle to Roll Out Blockchain Products

Multinational software giant Oracle Corp has announced its plans to roll out a platform-as-a-service blockchain product this month followed by decentralized ledger-based applications in June, according to Bloomberg.

With 430 customers in 175 countries, the California-based company is one of the world’s largest software companies, in 2015 only second-largest by revenue after Microsoft. The company specializes primarily in developing and marketing database software and technology, cloud engineered systems and enterprise software products — particularly its own brands of database management systems. In 2017, the company generated USD 37.3 billion in sales.

This is not the company’s first blockchain project, as in 2017 it launched the Blockchain Cloud Service, described by Oracle as a “comprehensive distributed ledger cloud platform to provision blockchain networks, join other organizations, and deploy and run smart contracts to update and query the ledger”.

Company president, Thomas Kurian, has also revealed that the company is currently working on other blockchain projects, and plans to make a further impact using the technology with a project in Nigeria logging customs and import duties, and a collaboration with the Banco de Chile, attempting to link interbank transactions to a hyperledger.

Many large software companies are now watching the blockchain space with interest. According to Microsoft News Centre UK, in March, UK financial technology firm Nivaura that uses Microsoft Azure, successfully registered, cleared and settled two Principal Protected Notes (PPN) linked to the FTSE 100 – one through the traditional clearing infrastructure and a second using an open public blockchain. This made it the world’s first blockchain-based investment product, according to Microsoft.

Also, Bitcoin News reported recently that global credit card giant, Mastercard, announced that it was looking to expand its offices based in Dublin, Ireland, with 175 new technology developers recruited for roles such as blockchain experts, software engineers and information security specialists.

 

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