Blockchain is undeniably one of the biggest disruptions for today’s business and is making inroads into virtually every industry. Enterprises can accelerate business-to-business (B2B) transactions securely and reliably using Blockchain. Setting up secure B2B collaboration often involves complex application integrations and considerable manual reconciliation of information. Until recently, there was no way to verify the authenticity of items being exchanged or to track the execution of transactions without enlisting intermediaries such as banks, EDI vendors, trading partners, and logistics brokers. Blockchain technology cuts through the interoperability and trust issues that slow down business processes. Blockchain makes it much easier to establish trustworthy B2B relationships, share data, and execute transactions. It solves integration challenges by enabling companies to establish a shared digital ledger that streamlines collaboration and establishes trust among business partners and trading partners.
We are using the Oracle Blockchain platform. Oracle Blockchain Platform can securely accelerate your business processes and establish trust among parties that have never met or done business together. It provides a single source of reliable information via a secure portal accessible to all trading partners. Preassembled, plug-and-play components make it easy to set up and provision blockchain networks, while integrated identity management technology simplifies participant authorization. Because it is a managed platform-as-a-service (PaaS) offering, Oracle customers do not need to concern themselves with infrastructure, maintenance, or security. Based on a high-performance cloud platform, the Oracle Blockchain Platform accelerates business transactions and creates a secure platform for B2B collaboration.
Oracle’s blockchain technology is based on the broadly accepted Hyperledger Fabric (HLF), an open-source industry standard developed by a community of contributors and promoted by the Linux Foundation. Adhering to this standard ensures that these industry networks and applications can interoperate.
Hyperledger Fabric provides the core blockchain capabilities of smart contracts, consensus, privacy, and a distributed ledger. It can execute hundreds—and in some cases, thousands of transactions per second (verses 15 to 20 transactions per second for Ethereum).
Oracle Blockchain Platform provides customers with a development platform for building their networks. It can quickly integrate with Oracle SaaS and third-party apps, as well as other Oracle Cloud Platform services or other blockchain networks.
Plus, it enables users to provision blockchain networks, join other organizations, and deploy and run smart contracts to update and query a shared ledger.
Oracle’s blockchain platform leverages advanced technology, along with the company’s decades of experience across industries and its extensive partner ecosystem, to enable customers to conduct trusted transactions among suppliers, banks, and other trade partners.
- Includes a built-in identity management framework, object store, and REST APIs, reducing setup time from weeks to minutes.
- Built on Hyperledger Fabric, an open-source project governed by The Linux Foundation, ensuring compatibility with other member systems.
- Plug-and-play. Easy integration with Oracle and third-party apps helps ensure fast integration with diverse systems of record. Blockchain integration accelerators include PaaS-for-SaaS and Oracle Integration Cloud Service.
- Enterprise-grade. An enterprise-grade, managed service with a 99.95 percent uptime guarantee, backed by enhanced security, availability, and continuous ledger backups for multi-data-center disaster recovery.
Please contact us to present a Blockchain proof of concept.