Oracle launches business-ready blockchain applications

Thursday 25 October 2018 14:23 CET | News

Oracle has launched Oracle Blockchain Applications Cloud to help customers provide agility in transactions across their business networks.

The new suite of use-case-specific SaaS applications facilitate traceability and transparency throughout the supply chain. Oracle Blockchain Applications are built with Oracle Blockchain Cloud Service and connect with Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Management (ERP) Cloud, and other Oracle Cloud Applications.

Oracle Blockchain Applications enable customers to track products through the supply chain on a distributed ledger to increase trust in business transactions. They also provide visibility across a multi-tier supply chain, accelerate product delivery and contract execution.

Moreover, Oracle Blockchain Applications leverage Internet of Things (IoT) connectivity and use embedded artificial intelligence (AI) features to leverage real time data to improve the accuracy of data flowing in a customers business network.

The features included in the applications are:

  • Intelligent Track and Trace – this enables end-to-end traceability of goods and transactions in supply chains to reduce delays and automate record keeping.
  • Lot Lineage and Provenance – it enables product genealogy, serialisation, and provenance by managing the lifecycle of hierarchical serial numbers, recording origin and authenticity of product components, and tracking all transformations of the product.
  • Intelligent Cold Chain – it helps monitor and track the temperature-controlled supply chain, creating recommendations to optimise processes, and ensure the safety of refrigerated products in pharmaceutical, and food and beverage industries.
  • Warranty and Usage Tracking – this removes paper-based processes and automates usage tracking for high-value assets.

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Keywords: Oracle, blockchain, supply chain, distributed ledger, AI
Countries: World