IT enterprises are racing head-to-head to offer a new array of blockchain applications. While Amazon and Microsoft have recently launched their blockchain offers for development to complement their cloud services, Oracle is not far behind.
A year after launching Oracle Cloud Services, Oracle has expanded its offering with ready-to-use blockchain applications, focusing mainly on solutions for supply chains. These new applications include pre-built integration for the Oracle Supply Chain Management Cloud (SCM) and Enterprise Resource Management Cloud (ECM), and templates for standard business processes.
Supply chain applications include a track and trace capability for following a product from production to the customer, proof of provenance for high-value items, intelligent temperature tracking and warranty and usage tracking.
Oracle Blockchain Application Cloud draws on its strength from its existing products and integrates the necessary information through the traditional software on the blockchain.
“So what we do is we get events and insights from IoT systems, as well as from the 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,” explained Atal Mahamuni, VP of IoT and Blockchain at Oracle.
While these blockchain applications focus on supply chains, Oracle plans to roll out more applications for other industries and use cases.
Competition in cloud services and newly offered blockchain services is fierce. On top of that, there were plenty of new entrants in the blockchain supply chain tracking market- players like VeChain, Waltonchain, Ambrosus and many more. Oracle aims to differentiate itself by building on its existing strong systems and conquering the blockchain sphere one use case at a time.