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Oracle Launches Blockchain Cloud for Digital Trade

Oracle Launches Blockchain Cloud for Digital Trade

Oracle, a provider of cloud computing software, has announced the launch of Oracle Blockchain Applications Cloud, a new suite of services to improve transparency throughout the supply chain.

As announced at the Oracle OpenWorld Conference 2018, Oracle Blockchain Applications are built with the company’s Blockchain Cloud Service and seamlessly connect with Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Management (ERP) Cloud and other Oracle Cloud Applications.

According to a statement, Oracle Blockchain Applications will enable customers to track products through the supply chain on a distributed ledger, boosting the reliability of business transactions and accelerating the delivery process.

Dean Croke, BiTA, has discussed what blockchain could mean for logistics in a recent Port Technology technical paper

Services featured as part of the new cloud include “Intelligent Track and Trace”, an application which creates a digital trail of each step in the transportation of a product, and digital warranty, which removes paper-based processes and automates usage tracking for high-value assets.

Oracle Blockchain Applications also leverages technologies such as Internet of Things (IoT) and artificial intelligence (AI) to improve the accuracy of data flowing through the supply chain.

 

 

Rick Jewell, Senior Vice President of Supply Chain & Manufacturing Cloud Applications at Oracle, said: “Many technology companies are offering a blockchain platform for customers to build on, but we wanted to go one step further.

“We use our domain expertise to create business, user-friendly, domain-specific solutions so customers can get immediate value from blockchain technologies by transforming existing business processes.

“Oracle Blockchain Applications make it easy for customers to create a trusted network of partners to improve the agility, accuracy, and visibility of their supply chain.”

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