Oracle to Release Own Blockchain Service

Oracle Blockchain Cloud Service (OBCS) is based on Hyperledger Fabric technology and is focused on achieving maximum efficiency in the transactions transfer
18 July 2018   292

The American technology company Oracle confirmed the official launch of its blockchain platform, which was preceded by a series of tests with the participation of customers from the banking industry, business and government sector.

Oracle Blockchain Cloud Service (OBCS) is based on Hyperledger Fabric technology and is focused on achieving maximum efficiency in the transactions transfer.

According to a press release, the current clients of Oracle's blockchain product are, among others, Arab Jordan Investment Bank (AJIB), Indian Oil and Gas Company Indian Oil and the Nigerian Customs Service.

Blockchain promises to be one of the most transformative technologies of our generation. We are excited to announce the availability of Oracle Blockchain Cloud Service. It is the result of years of R&D alongside our valued partners and customers. With Oracle’s platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before.
 

Amit Zavery

Executive vice president, Oracle Cloud Platform

Last week, Fujitsu announced the launch of a service with which it promises to integrate the blockchain into its existing business in just 5 days.

Accenture to File New Blockchain Patent

Technology, developed by the team, seeks to improve blockchain's security and stability
08 August 2018   169

Accenture, which works in the field of consulting and professional services, filed a patent application describing the technology of "Hardware blockchain accleration", designed to accelerate and improve the security of transactions in the blockchain using patented equipment. This is reported by CCN.

According to Accenture, this technology is necessary in connection with the new security threats that have emerged due to the rapid development of communication and electronic technologies. The patent application states that this technology provides safe and efficient execution of complex transactions not only between software processes and hardware systems, but also between people.

Accenture says its invention improves the security and scalability of the blockchain due to the fact that the encryption and decryption of data is carried out not only in hardware but also programmatically, so that the technology is not limited to either way.

As a result, the implementation shown … has increased security and scalability as compared to, for example, software only based security systems. For example, all or parts of the implementations may be circuitry that includes an instruction processor, such as a Central Processing Unit (CPU), microcontroller, or a microprocessor; or as an Application Specific Integrated Circuit (ASIC), Programmable Logic Device (PLD), or Field Programmable Gate Array (FPGA); or as circuitry that includes discrete logic or other circuit components, including analog circuit components, digital circuit components or both; or any combination thereof.
 

Accenture Patent Application

Instructions for performing tasks can be stored on various media, including flash memory, magnetic and optical disks like hard disks, CD-ROMs, as well as EPROM, ROM and RAM.

Earlier, the company developed a blocking prototype, which allows administrators to edit, rewrite and even delete blocks from closed blockchains. Then one of the leaders of Accenture, Richard Lamb, said that the absolute immutability of the block could not suit financial institutions like banks.