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cryptocurrency May 8, 2018

The software giant Oracle will unveil a blockchain service sometime this month and is planning to release several distributed ledger-based applications in June.

Later this month, Oracle, the world’s second-largest software company by revenue, will reportedly launch what has been described as a blockchain-related “platform-as-a-service” offering.

In June, the firm is also slated to release several applications based on distributed ledger technology (DLT), though it’s unclear whether those will involve blockchain technology per se.

The company intends to solicit business from pharmaceutical firms interested in tracking batches of drugs, among other potential clients.

Prior to the release of these software products, the tech firm had already begun working to help a Chilean commercial bank record inter-bank transactions using the Linux Foundation’s Hyperledger blockchain environment, according to Thomas Kurian, Oracle’s president of product development.

Kurian also said that the government of Nigeria has contracted the company’s services as it seeks to use blockchain technology in documenting customs and import duties.

In launching this software, Oracle will join the ranks of Amazon Web Services, Microsoft, IBM, Baidu, Tencent, Huawei, and other leading tech firms that have released blockchain-related products. 

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam is a full-time staff writer for ETHNews and holds value in Ether, Bitcoin, and Monero.

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Source: ETHNews