Database giant Oracle has announced that the comopany has joined the Hyperledger project, the Linux Foundation-led blockchain development initiative.
Thus, Oracle plans to use the Hyperledger Fabric blockchain code as the basis for a new cloud-based service.
As we develop our blockchain cloud platform for enterprise use, we believe scalable cross-industry technologies, confidential transactions, and modular architecture promoted through initiatives like the Hyperledger Project, are critical components.
Oracle's SVP for cloud platforms and middleware
As reported, Oracle looks forward to participating in Hyperledger for the benefit of our global customer base and the market at large.
According to the team, their objectives are:
1. To address mission-critical enterprise needs such as scalability, security, robustness, integration, and performance to remove barriers to adoption and support blockchain applications in production.
2. To make it easy for customers to deploy, configure, manage and monitor blockchain and reduce the cost for deploying blockchain in enterprises by offering it as a Platform as a Service (PaaS) Cloud solution.
3. To accelerate the development and integration of blockchain applications with Oracle Cloud App Dev platform and built-in DevOps capabilities.
4. To help Oracle SaaS cloud customers enable their enterprise processes like Procurement, Payments, Trade Finance, Accounting, HR, CX to securely share data and conduct distributed transactions with 3rd party applications and external distributed ledger technologies using blockchain cloud platform.