Oracle to Launch Its Blockchain Platform This Month

According to a report from Bloomberg, tech giant Oracle is ready to launch its blockchain-as-a-service platform publicly.

The multinational company based in California will be launching the platform this month, with applications based on distributed ledger technology (DLT) also to be released in June, the news source says, quoting Thomas Kurian, Oracle’s president of product development.

It was reported earlier that Oracle first revealed the enterprise-grade blockchain cloud program in October 2017, stating at the time that it sees the technology as a means to extend and streamline its current cloud services.

Oracle’s vice president of Blockchain Cloud Service, Frank Xiong, announced at the unveiling that the company aims to draw both small and large firms, with pricing determined by the transaction volume.

He added: “This blockchain platform will provide clients with a platform to spread the services they offer past their enterprise scope, which implies they can extend these services outside to their advantage clients, business partners, and so on.”

The development comes after other major organizations have launched related products, most notably, perhaps, IBM and Microsoft. China has also seen a number of such launches from firms like Baidu, and Huawei.

Among other current blockchain projects, according to Bloomberg, Kurian said Oracle is now in partnership with commercial bank Banco de Chile to record interbank transactions using a platform from a consortium it joined in August of 2017, known as Hyperledger.

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