Oracle to Launch Its Blockchain Platform This Month

May 8, 2018 at 11:00 UTC
Updated May 8, 2018 at 11:24 UTC
NEWS

Software giant Oracle is all set to publicly launch its blockchain-as-a-service platform, according to a report from Bloomberg.

The California-based multinational is said to be launching the platform this month, with apps based on distributed ledger technology (DLT) to follow in June, the news source states, citing Oracle’s president of product development, Thomas Kurian.

As reported by CoinDesk, Oracle first unveiled the enterprise-grade blockchain cloud platform in October 2017, saying at the time that it is looking at the technology as a way to extend and streamline its existing cloud services.

Frank Xiong, Oracle’s group vice president of Blockchain Cloud Service, said at the unveiling that the firm aims to attract both large and small firms, with pricing based on transaction volume.

He added:

“This blockchain platform will give [customers] a platform to extend their services beyond their enterprise bundle, which means they can extend them outside to their business partners, advantage customers and so on.”

The move comes after other major corporations have launched similar products, most notably, perhaps, Microsoft and IBM. China has also seen a raft of such launches from companies such as JD.com. Baidu and Huawei.

Among other existing blockchain projects, Bloomberg cites Kurian as saying that that Oracle is already working with commercial bank Banco de Chile to record interbank payments using a platform from Hyperledger – a consortium it joined in August of 2017.

Oracle image via Shutterstock