Oracle – the second-largest software company in the world – has recently announced that it will begin unveiling it’s blockchain products this month.
As Per Bloomberg, Oracle’s head of product development, Thomas Kurian, stated that a platform-as-a-service blockchain product will become available this month, with decentralized ledger-based apps to follow in June.
Oracle in Blockchain
Kurian also mentioned that Oracle has been working in conjunction with one of Chile’s largest commercial banks, Banco de Chile, on a Hyperledger solution for logging inter-bank transactions. Kurian also claims that Oracle is working with the customs and imports service in Nigeria since The Nigerian government wants to log customs duties data on blockchain platforms.
Oracle hopes its new products will be of specific interest to major pharmaceuticals firms who wish to track medical products, helping them expedite recalls and boost traceability by the use of blockchain.
Oracle’s Blockchain Project with Hana
Meanwhile, Oracle has been working on a range of other blockchain-related deals, globally . Earlier this year, the company struck a deal with South Korea’s Hana – one of the country’s largest banks. The aforementioned deal would actualise after Hana develops a blockchain implementation of a loyalty points trading platform, allowing Hana customers to freely use their points with international Vendors and travel companies.
The blockchain products from Oracle comes after a succession of blockchain projects announced by IBM and AWS.