Another tech giant has joined the ranks of the Hyperledger project, with computer technology multinational Oracle announcing its membership of the Linux Foundation-led initiative.
In a blog post, Oracle product marketing director Eric Jacobsen wrote:
“Blockchain technology has the potential to dramatically enhance enterprise business value by enabling near real-time, distributed transactions across customers’ ecosystems and by enabling secure, tamper-proof data sharing.”
Hyperledger executive director Brain Behlendorf, told the EconoTimes:
“Adding many diverse organizations each month is fantastic to see as blockchain will change the way we conduct business across many industries. The support from these new members will be beneficial as we focus on driving further integration among our incubated projects and production deployments in the second half of 2017.”
Oracle plans to use Hyperledger Fabric as a foundation for its own blockchain cloud service. This service will be a ‘differentiated enterprise-grade distributed ledger cloud platform’ aimed at clients who want to build blockchain-based applications or extend their current SaaS, PaaS, IaaS and on-premises applications.
Oracle is focused on strengthening the technology that underpins blockchain to allow it to be simplified and more easily deployable.
The company outlines four main objectives with regard to blockchain and its membership of Hyperledger:
- to address scalability, security, robustness, integration and other ‘mission-critical enterprise needs’ that are currently hampering wider adoption
- to make it easier for companies to deploy, configure, manage and monitor and monitor and reduce costs through a PaaS cloud solution
- to speed up the development and integration of blockchain applications with Oracle Cloud App Dev
- to help existing Oracle SaaS cloud customers to adopt the technology for enterprise processes like procurement, payments, trade finance, accounting, HR and customer experience.