The world’s Second Largest Software Company Oracle Will Provide Blockchain Products
Cointelegraph reported that the world’s second largest software company Oracle (Oracle Corp.) will launch blockchain products in the next two months.
Thomas Kurian, president of software development, announced that he will release platform-as-a-service offerings at Oracle headquarters this month and will release applications based on decentralized book books next month.
The California-based company has partnered with Banco de Chile to record interbank transactions on superbooks. Oracle has been working with the Nigerian government allegedly to use blockchain technology to record customs and import duties. According to Bloomberg, Oracle’s products will also be promoted to pharmaceutical companies for drug supply chain management.
The recent blockchain technology has been successfully applied in major industries. In April, BBVA became the first global bank to issue loans on the blockchain. According to banks, the use of blockchain technology will “complete from a few days to several hours” to complete a loan process of 75 million euros.
In mid-April, Korean electronics giant Samsung revealed that it will use its blockchain to manage its global supply chain. Song Kwang-woo, vice president and blockchain supervisor, said that the company’s IT subsidiary, Samsung SDS, plans to deploy the technology in order to reduce costs by 20%.