Oracle To Launch Blockchain Platform-as-a-Service Product

Oracle Corp, an enterprise software products developer, has announced plans to launch a Platform-as-a-Service (PaaS) blockchain product later this month and decentralized ledger-based applications next month. The company also plans to market its software products to pharmaceutical companies. The blockchain based software will simplify the process of tracking drugs, thereby making it easier to complete the process of recalls.

While making the announcement regarding PaaS, the Redwood City, California-based software company’s president of product development, Thomas Kurian, also revealed that it is working with Banco de Chile to record inter-bank transactions on hyperledger. Furthermore, the government of Nigeria is also working with Oracle to document customs and import duties on blockchain. Notably, Oracle’s products will be compatible with other platforms.

Notably, Microsoft released Azure Blockchain Workbench earlier this week. Workbench is designed to speed up blockchain app development process by automating infrastructure setup. Likewise, Salesforce.com Inc CEO Marc Bernioff has stated his intention to launch a blockchain product this fall. IBM is currently working on more than 400 projects related to blockchain technology. A blockchain product to tracking shipping is being piloted in collaboration with Maersk. Amazon has already introduced a cloud product which enables creation of private and public blockchain on Ethereum network, and private blockchain on hyperledger.