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Oracle to Launch Its Blockchain Platform This Month

Oracle to Launch Its Blockchain Platform This Month

Software behemoth Oracle is all set to launch its blockchain-as-a-service platform, according to a new report from Bloomberg. crypto

The California-based giant is said to be launching the platform this month, with applications based on distributed ledger technology (DLT) to follow in June, the news source states, citing Oracle’s president of product development, Thomas Kurian.

Oracle first unveiled the enterprise-grade blockchain cloud platform in October of last year, saying at the time that it is looking at the tech as a way to extend and streamline its existing cloud services.

Frank Xiong, Oracle’s group vice president of Blockchain Cloud Service, said at the unveiling that the firm aims to attract both large and small firms, with pricing based on transaction volume.

He then added:

“The blockchain platform will give [customers] a platform to extend their services beyond their enterprise bundle which means they can extend them outside to their business partners, advantage customers and so forth.”

The move comes after other major corps have launched similar products, most notably Microsoft and IBM. China has also seen a raft of such launches from companies such as JD.com. Baidu and Huawei.

Among other existing blockchain projects, Bloomberg cites Thomas Kurian as stating that that Oracle is already working with commercial bank Banco de Chile to record interbank payments using a platform from Hyperledger – a consortium it joined in August of last year.

Olé Crypto,
CBNN

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