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Oracle leverages open source to develop enterprise-focused blockchain technology

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Oracle blockchain service uses open source developments

Oracle has finally planned to enter the growing space of blockchain by launching its enterprise-centric Oracle BlockChain Cloud Service. The new distributed ledger cloud platform is based on the open source Hyperledger Fabric project, which has been hosted by the Linux Foundation and receives contributions from a group of companies, including Oracle.

“Oracle Blockchain Cloud Service provides enterprise-grade blockchain capabilities and is able to accelerate innovation for on-premises ERP and cloud-based SaaS (software-as-a-service) and PaaS (platform-as-a-service) customers,” said Amit Zavery, senior vice president, Oracle Cloud Platform.

The new blockchain platform is a part of Oracle Cloud Platform — touted to deliver enterprise-grade resiliency, scalability and security. It also helps enterprise customers streamline operations and expand their market reach by using open source developments and maintaining open standards.

Oracle has developed an Applications Integration toolkit that comes with integrated applications, sample code, templates and design patterns to help enterprises rapidly deploy blockchain applications to Oracle SaaS and on-premises application suites. Also, the platform also works with real-time information sharing across existing Oracle ERP Cloud, Oracle SCM Cloud, Netsuite SuiteCloud Platform or a custom blockchain application integration.

There is REST API support to let enterprises invoke blockchain services directly or with some pre-built integrations from Oracle Cloud. Oracle has also provided an API management service to enable easy app development in the cloud or on-premises.

Partnerships to expand services

Companies like Accenture, Infosys and Intel have partnered with Oracle to start deploying the newly launched Oracle Blockchain Cloud Service. “Our collaboration with Oracle is aimed at developing a blockchain cloud service for enterprises that helps to advance the privacy of blockchain transactions and improve the interoperability of traditional databases and blockchains,” said Raejeanne Skillern, vice president of data centre group and general manager — cloud service provider group, Intel.