Global Tech Giant, Oracle Expands Its Enterprise Blockchain Platform Making It More Efficient

Oracle, a global tech giant, announced in a press release on the 12th of February, that it would be expanding the features of its enterprise blockchain to boost its capabilities. The new features will make it easier for developers to build blockchains on the platform and integrate IT and business systems. Customers of the company will have access to an array of development tools, data integration tools, and identity management software. They will be able to integrate the transaction history on the blockchain with other resources.

The feature comes with an improved version of a world state database. It also has identity federation, a history database, and Hyperledger Fabric 1.3 support. The company stated the identity of key global customers that have deployed a blockchains using the platform. The platform already has a handful of partners including SERES, the e-document service provider, China Distance Education Holdings Limited, SDK.Finance, Arab Jordan Investment Bank, ICS Financial Systems, and the supply chain giant, Circulor.

About Oracle

With headquarters in the United States, Oracle is the world’s third largest public software firm in the world. It is third only to Microsoft and Alphabet. The company primarily focuses on creating and selling software for marketing database, cloud engineered systems, and enterprise software.

Oracle was founded in 1977 by Larry Ellison, Ed Oates and Bob Miner. At the time, it was known as Software Development Laboratories. Ellison noted that he was inspired by Edgar F. Codd who published a paper on relational database management systems (RDBMS) in 1970. He also tried to make his company’s products compatible with IBM’s System R but he failed because the system codes were kept a secret by IBM.

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IBM, on its part, has devoted a lot of time and resources to the development of blockchain systems. As reported by smartereum.com, the company recently launched its blockchain main net in its Melbourne data center. This action will allow its Australian customers to use its cloud technology in accordance with the laws of the country.

Do you think Oracle’s move for enterprise blockchains will have any significant effect in the adoption of blockchain technology?

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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