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Oracle to launch blockchain platform-as-a-service

Multinational computer technology giant Oracle is going to unveil its blockchain software this month, according to Bloomberg.

Thomas Kurian, president of product development, said that the company will roll out a platform-as-a-service blockchain product this month, followed by decentralized ledger-based applications in June.

Oracle has been actively involved in the blockchain space. Last year, it joined the Linux Foundation's open source blockchain project Hyperledger in a bid to strengthen the foundation of distributed ledger technology (DLT), accelerate and simplify blockchain deployment, and promote blockchain interoperability.

In October, Oracle launched its Blockchain Cloud Service – an advanced, enterprise-grade distributed ledger cloud platform with industry-leading resiliency, scalability, and security.

Oracle’s products are being built in a way to ensure compatibility with other platforms, Kurian said. He also revealed some of the ongoing blockchain projects. This includes a project with Banco de Chile to log inter-bank transactions on a Hyperledger. Another project with the government of Nigeria seeks to document customs and import duties on blockchain.

Oracle also seeks to push its products to pharmaceutical companies to help them track and trace batches of medicine.

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