Blockchain is bringing a revolution in all the major sectors. Not only this it is even changing the way financial transactions work. To make Blockchain stronger Oracle has recently announced its Blockchain Cloud Service.
The service brought forward by Oracle offers a pre-assembled platform on which smart contracts can be built and run by keeping tamper-proof distributed ledger. In this article we will discuss about the latest Oracle platform and what it has to offer to the users.
So, what are we waiting for let’s proceed further.
What is Oracle Blockchain Cloud Service?
Oracle Blockchain Cloud Service gives a complete set of embedded resources and infrastructure services such as: storage, computing power, containers, identity management, and event streaming to set up and run a production-ready blockchain.
Using this service organization can easily build Blockchain networks and drive securer, well-organized transactions to track goods on a global scale using supply chains. Companies that have already joined in with Oracle Blockchain Cloud Service are: Arab Jordan Investment Bank, Sofbang, Intelipost, Indian Oil, CargoSmart, and others.
Features of Oracle Blockchain Cloud Service
- Enables real-time transactions
- Securely shares original data across trusted business network
- Grows business swiftness:
- Create trusted network for B2B transactions
- Extend and automates operations outside the organization.
- Optimizes business decisions with information transparency across the company’s
Benefits of Oracle Blockchain Cloud Service
1. Reduces operational cost
It uses trusted shared fabric of common information to make quicker transactions. This helps to eradicate bulky compromises, intermediary cost, time delays, and even offers single point of contact. Also, to make quicker transactions it uses peer-to-peer business network.
2. Reduce the chances of swindle
The information is securely stored on an alter proof distributed ledger the makes data tampering almost impossible. Plus make individual believe in all the information and transaction as they know all details are legitimate. Also saves from single point of contact trouble.
3. Builds trusted peer-to-peer network
Oracle Blockchain Cloud Service consists of nodes to update the ledger and reply to the queries by executing smart contract code. By this external application are able run queries and invoke transactions that stimulates selected peers to run smart contracts.
4. Enterprise-Grade Cloud Platform
- To run continuous operations, it scales network participants and transaction volumes.
- Secure access with single sign on and key management services on a Blockchain protected by Oracle Cloud Service platform.
- Creates secret domains to do private transactions over secure channels.
5. Managed Blockchain PaaS
- Uses built in dashboard to detect illegal transactions in real time.
- Add participants to create a flexible blockchain network with dynamic configuration.
- Oracle handles all the updates, data backups and operational worries.
6. Speed to Market with Rich Integrations
- Simplifies integration of applications by using REST APIs.
- Connect Oracle SaaS applications identity domains with Oracle Blockchain Cloud Service by using single sign on.
7. Extend Enterprise Boundaries
- PaaS-for-SaaS and Oracle Integration Cloud Service accelerate Business processes.
- Invites new business model and generates revenue by reaching the market and showing them, they use blockchain.
Besides, all this Oracle Blockchain Cloud Services lets businesses automate transactions, creates flexible options to extend applications, privacy of transaction, extend the network and administers monitors all the problem that the participants might face while using the platform.
Hope all this information will help you understand Oracle Blockchain Cloud Services. It is something that will bring a change to how people look at things. It is an autonomous Blockchain cloud service that simplifies operations and extends your business processes and applications.
Also, this will setup a platform that will pave way of transparent information flow and fair transactions without one needing to give second thoughts about geniuses of any information found on it.