Oracle To Launch Blockchain Software This Month
Oracle Corp., the world’s second largest software company, announced the launch of its blockchain software starting this month, joining the growing list of companies offering products that use digital ledger technology behind Bitcoin.
The Redwood City, California-based company will introduce a platform-as-a-service blockchain product this month and decentralized ledger-based applications next month, Thomas Kurian, president of product development, said Monday at Oracle headquarters.
Blockchain is essentially a spreadsheet that is duplicated and updated by thousands of computers on the Internet. The structure eliminates the risks with a single entity, such as cloud providers.
The world’s second-largest software company is working with Banco de Chile to log inter-bank transactions on a hyperledger, Mr Kurian said. Another client is the government of Nigeria, which has sought to document customs and import duties on blockchain.
Behind the hype of cryptocurrency, software companies have the opportunity to take advantage of the blockchain registry model to streamline processes. Salesforce.com Inc. general manager Marc Benioff said his company wanted to unlock a product at its annual Dreamforce conference this fall.
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