cfo-au logo
Story image

Oracle unveils business-ready blockchain applications

26 Oct 2018

To help customers increase trust and provide agility in transactions across their business networks, Oracle has launched Oracle Blockchain Applications Cloud. The new suite of use-case-specific SaaS applications enhances traceability and transparency throughout the supply chain. 

Oracle Blockchain Applications are built with Oracle Blockchain Cloud Service and seamlessly connect with Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Management (ERP) Cloud and other Oracle Cloud Applications.

Modern supply chains generate millions of data points and thousands of daily transactions that need to be validated and confirmed. This limits the pace of business and exposes organizations to risk. 

Oracle Blockchain Applications enable customers to track products through the supply chain on a distributed ledger to increase trust in business transactions, get better visibility across a multi-tier supply chain, accelerate product delivery and contract execution, and improve customer satisfaction.

Oracle’s business-ready blockchain applications reduce barriers to adoption of blockchain and provide immediate business benefits to customers by improving trust and transparency in their business network and transforming their supply chains. 

These applications are built with Oracle Blockchain Cloud Service, which was launched earlier this year. It helps organizations build blockchain networks to drive more secure and efficient transactions with their trading partners. 

Oracle’s blockchain platform has experienced tremendous momentum and has been adopted by many global organizations spanning a wide range of industries and verticals including transportation, supply chain and logistics, energy, retail and e-commerce, financial services, telecommunications, and public sector. 

A few of the many organizations already using Oracle Blockchain Cloud Service include Arab Jordan Investment Bank, CargoSmart, SERES, Certified Origins, Indian Oil, Intelipost, MTO, Neurosoft, Nigeria Customs, Sofbang, Solar Site Design, and TradeFin.

“We are using Oracle Blockchain as our digital platform for shipment documentation, which helps us easily track and trace shipping transactions,” said Lionel Louie, chief commercial officer, CargoSmart. 

“Our goal is to help bring more trust and transparency into the industry. In fact, we expect a 65% reduction in the amount of time required to collect, consolidate, and confirm data from multiple parties. We also hope to streamline data from different documents by leveraging Oracle Intelligent Track and Trace.”

Oracle Blockchain Applications also leverage the Internet of Things (IoT) connectivity and use embedded artificial intelligence (AI) features to leverage real-time data to improve the accuracy of data flowing in a customer’s business network. 

Oracle develops emerging technologies in unison to provide intelligent recommendations and better user experiences across the SaaS applications for supply chain, finance, human resources and customer experience.

Story image
Aussie businesses turn to financial automation during time of economy uncertainty
“Cloud-based solutions are becoming an increasingly useful tool for improving online experience, accelerating speed to market and contributing to the easing of operational cost pressures; all of which is business critical right now.” More
Story image
Blue Prism extends human-to-digital worker collaboration with new Interact capability
Blue Prism Interact is a human-to-digital worker collaboration capability that enables employees to team up with digital workers to initiate, instruct, verify, receive, and authorise a variety of business processes through the digital workforce.More
Link image
Revealed: A competitive assessment of colocation vendors
Interconnection plus colocation is essential to remove the distance between users, cloud services, ecosystem partners and customers for higher performance and lower network latency. Here is an assessment of 9More
Story image
Interview: Check Point profiles 5 battles that SOC teams face in 2020
Security operations centres (SOCs) are often the first lines of defence.More
Story image
Ericsson bolsters 5G portfolio with $1.1b Cradlepoint buyout
Ericsson will acquire Cradlepoint to create greater market share in the enterprise 5G space, boosting Ericsson’s existing 5G portfolio that includes IoT and enterprise network solutions.More
Link image
Why performance monitoring is essential to keep cloud costs down
Cloud comes with many different associated costs, which can sneak up on organisations and drive down efficiency. Here's how to reduce costs by up to 50%.More