Computer software company Oracle has released a suite of blockchain-based software-as-a-service (SaaS) applications to help customers increase trust and provide agility in transactions across their business networks.
Founded in 1977, Oracle specializes primarily in developing and marketing database software and technology, cloud engineered systems and enterprise software products — particularly its own brands of database management systems. In 2015, Oracle was the second-largest software maker by revenue, after Microsoft.
Called Oracle Blockchain Applications Cloud, the new product enhances traceability and transparency throughout the supply chain. It includes four apps: Intelligent Track and Trace, Lot Lineage and Provenance, Intelligent Cold Chain, and Warranty and Usage Tracking. These apps will enable customers to track products through supply chains, increase transparency, accelerate product delivery, and improve customer satisfaction.
Rick Jewell, Senior Vice President, Supply Chain & Manufacturing Cloud Applications, Oracle, said that they use their domain expertise to create business, user-friendly, domain-specific solutions so customers can get immediate value from blockchain technologies by transforming existing business processes.
“Oracle Blockchain Applications make it easy for customers to create a trusted network of partners to improve the agility, accuracy, and visibility of their supply chain. These blockchain applications work seamlessly with existing Oracle Cloud Applications and are out-of-the-box ready with pre-built integrations and business network templates for common business processes.”
The apps are built with Oracle Blockchain Cloud Service (OBCS), an enterprise-grade distributed ledger service that allows organizations to easily build blockchain networks. The apps are also utilizing the Internet of Things (IoT) and artificial intelligence (AI) to improve the accuracy of data flowing in a customer’s business network.
“Consumers are better informed than ever before and are increasingly interested in what is in the products they consume,” said Kyle Bozicevic, owner and brewer at Alpha Acid Brewing in Belmont, California. “We can now track materials and premium ingredients from our suppliers and analyze sensor data from the production process for each batch. Oracle Intelligent Track and Trace blockchain application helps ensure that we are getting the highest quality hops, malt, and yeast, and enables us to create a strong narrative around our products for customers.”