Oracle is one of the largest vendors in the business software market, and now one of the largest employers of blockchain technology related positions as well. The company has been at work for years developing applications for blockchain technology and ways to make similar networks more easily integrated into traditional businesses.
Previously they launched the Oracle Blockchain Applications Cloud to help businesses create dapps for template based blockchain networks. They are competing with the likes of Amazon, Microsoft and many other tech startups in this Blockchain-as-a-Service field. Some of their current customers include Arab Jordan Investment Bank, CargoSmart, SERES, Certified Origins, Indian Oil, Intelipost, MTO, Neurosoft, Nigeria Customs, Sofbang, Solar Site Design, and TradeFin.
Supply chain systems are consistently shown to benefit heavily from blockchain networks, and the industry is likely to continue to expand with market competition. Oracle Blockchain Applications also include Internet of Things (IoT) connectivity and embedded artificial intelligence (AI) features for real time data and improved accuracy.
Their new SaaS products enhance traceability and transparency throughout the supply chain using blockchain technology on the Oracle Blockchain Cloud Service. The two new services, Oracle Supply Chain Management (SCM) Cloud and Oracle Enterprise Resource Management (ERP) provide a number of benefits to the entire process of supply chain management.
Intelligent Track and Trace - End-to-end traceability and automated record keeping. The digital trail covers, procurement, manufacturing, transportation and reception. This aids in product recalls, resolving disputes, removing counterfeits and regulatory compliance.
Lot Lineage and Provenance - In conjunction with Oracle AI and IoT technology, a product can be traced for many in depth data points including genealogy, serialization, and true origin.
Intelligent Cold Chain - Temperature-controlled supply chain systems can massively benefit by automated recommendations to optimize processes for quality and safety of refrigerated products in pharmaceutical and food and beverage industries.
Warranty and Usage Tracking - Paperwork for insurance and warranties on high-value assets can be automated, reducing the use of physical paper, and the immutable nature of a blockchain network facilitates are more concrete system for audits, liability claims, and insurance for claim processing.
By: BGN Editorial Staff