Oracle Releases Suite of Blockchain-Based Software for Supply Chain Management

Software improvement large Oracle has revealed a brand new suite of blockchain apps for provide chain administration.

Software improvement firm Oracle Corp. has launched a collection of blockchain-based software-as-a-service (SaaS) purposes primarily based on its Oracle Blockchain Cloud Service, in response to an announcement revealed Oct. 23. The new product is purportedly designed to enhance traceability and transparency all through provide chains.

Oracle is an American company based in 1977, and presently is likely one of the largest distributors within the enterprise software program market. With complete revenues of $39.eight billion in 2018, Oracle is the second largest software program improvement firm in response to the Global 2000 2018 Forbes listing.

The new product known as Oracle Blockchain Applications Cloud contains 4 apps: Intelligent Track and Trace, Lot Lineage and Provenance, Intelligent Cold Chain, and Warranty and Usage Tracking.

Like many blockchain-based provide chain administration instruments, Oracle Blockchain Applications declare to allow prospects to trace merchandise by provide chains, improve transparency, speed up product supply, and enhance buyer satisfaction. The product reportedly permits customers to trace the authenticity of product parts and temperature-control, in addition to cut back paper waste.

Initially, Oracle introduced its plans to launch a platform-as-a-service product and decentralized ledger-based purposes in May. At that point, Oracle had already been working with the federal government of Nigeria, which is reportedly searching for to make use of blockchain expertise for documenting customs and import duties.

The normal launch of the Oracle Blockchain Cloud Service was confirmed by Oracle in July. The product focuses on transaction effectivity and provide chain authentication, utilizing Hyperledger Fabric as its foundation. The launch adopted a collection of trials with banking, enterprise and authorities shoppers.

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