Oracle Blockchain Cloud Service is now generally available

Oracle has made its an early adopter version of Oracle Blockchain Cloud Service generally available. Oracle Blockchain Cloud Service allows organizations to build blockchain networks to drive more secure and efficient transactions. It also helps them to track goods through supply chains on a global scale, said the announcement. Oracle's blockchain platform is built on top of The Linux Foundation's Hyperledger Fabric.

Oracle Cloud Platform ensure that Oracle's Blockchain platform is highly available with 99.95 percent availability SLA with autonomous recovery agents and continuous ledger backup capabilities. This helps in achieving multi-datacenter disaster recovery across availability domains. Oracle Cloud Platform brings its capabilities such as plug-and-play integration with existing cloud and on-premises applications, API management, and application development environments and tools. Common use cases such as track and trace, provenance identification, warranty and usage, and cold chain are possible with blockchain technology and can be used with Orale's SaaS applications, the announcement stated.

Blockchain along with it brings inherent characteristics such as transparency, efficiency, and immutability. Once applied to businesses it creates more business value by bringing security, transparency, efficiency and cost-effective properties into business transactions. The Blockchain platform by Oracle help customers create their own network and leverage their existing investment  by integrating with Oracle SaaS, Oracle PaaS services, third-party applications as well as other blockchain networks

Oracle Blockchain Cloud Service provides customers with a development platform to build and provision their own networks and to quickly integrate with Oracle SaaS and third-party applications they already use, as well as other blockchain networks and Oracle PaaS services. It also allows users to deploy and run smart contracts to update and query the distributed ledger.

Executive vice president, Oracle Cloud Platform, Amit Zavery said, "Blockchain promises to be one of the most transformative technologies of our generation. We are excited to announce the availability of Oracle Blockchain Cloud Service. It is the result of years of R&D alongside our valued partners and customers. With Oracle's platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before."

The single console provides an integrated experience with all the underlying infrastructure dependencies, container lifecycle management, event services, identity management, REST proxy, and a number of operations and monitoring tools.

Robert Parker, group vice president of manufacturing and retail insights, IDC, said "Blockchain projects are quickly moving from pilot to production as enterprises and governments begin to see the inherent value of distributed ledgers and smart contracts. As spending accelerates, buyers will need an enterprise-class platform beyond open source that includes data security and integrity, scalability, manageability, and interoperability."

The early adopters of Oracle's blockchain platform include Arab Jordan Investment Bank, CargoSmart, Certified Origins, Indian Oil, Intelipost, MTO, Neurosoft, Nigeria Customs, Sofbang, Solar Site Design, and TradeFin.