US-based cloud provider Oracle launched the Oracle Blockchain Applications Cloud, aimed to increase transparency and agility in transactions in the global supply chain. Modern supply chains generate millions of data points and thousands of daily transactions that need to be validated and confirmed. This limits the pace of business and exposes organizations to risk.
In a bid to respond to this, Oracle Blockchain Applications enable operators to track products through the supply chain on a distributed ledger to increase trust in business transactions, get better visibility across a multi-tier supply chain, accelerate product delivery and contract execution, and improve customer satisfaction.
Namely the applications reduce barriers to adoption of blockchain and improve trust and transparency in business networks. Oracle Blockchain Applications include Intelligent Track and Trace enabling end-to-end traceability of goods and transactions, Lot Lineage and Provenance enabling product genealogy, serialization, and provenance, Intelligent Cold Chain helping to monitor and track the temperature-controlled supply chain, and Warranty and Usage Tracking removing paper-based processes and automating usage tracking for high-value assets.
The company’s Blockchain Applications also 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 customer’s business network.
These applications are built with Oracle Blockchain Cloud Service, which was launched earlier this year.
