Oracle takes wraps off its new blockchain platform

By on
Oracle takes wraps off its new blockchain platform

An Oracle executive said the company's new enterprise blockchain platform can give channel partners a chance to rake in more profits.

The Oracle Autonomous Blockchain Cloud Service came out of beta on Monday and is now generally available, the company announced. Several global firms were named as early adopters, including Arab Jordan Investment Bank, CargoSmart, Certified Origins and Indian Oil.

Frank Xiong, group vice president of blockchain product development for Oracle, told CRN USA that Oracle's blockchain offering allows channel partners to run their own blockchain networks, which they can charge customers and other participants to use.

Oracle charges network operators 50 or 75 cents per 500 transactions every hour, depending on whether it's paid on the go or paid in advance. This means that network operators get to decide whether to charge per transaction, per month or both, giving them a way to potentially bring in new profits, according to Xiong.

"Blockchain opens a lot of horizons in new business areas for channel partners because they are the experts in their business areas so if they analyse their business cases [and find applicable uses], then they should have a good blockchain model for their own customers," he said.

While blockchain was first conceived as the distributed ledger technology for the popular cryptocurrency Bitcoin, it has emerged as a potentially transformational tool that lets enterprises bring more trust and transparency to businesses. Some solution providers have begun to make early investments and launch new practices around the technology.

Oracle is among several vendors that have begun offering blockchain software tools to channel partners, a group that also includes Microsoft, IBM, Amazon Web Services and Hewlett-Packard Enterprise.

Oracle also allows end-customers to run networks, so that suppliers, for instance, can join and share supply chain information that is tamper-proof and up-to-date.

Based on The Linux Foundation's Hyperledger Fabric, Oracle's blockchain platform is a fully managed service that allows partners to build and deploy networks within weeks or months, Xiong said.

For channel partner support, Oracle provides online documentation and sales support. But for channel partners that are working on large deals, they can potentially receive additional support for free from the company's product and services development group.

"The important thing is they need to find a good specific business model for their business to start with," he said.

This article originally appeared at crn.com

Got a news tip for our journalists? Share it with us anonymously here.
Copyright © 2018 The Channel Company, LLC. All rights reserved.
Tags:

Most Read Articles

You must be a registered member of CRN to post a comment.
| Register

Log In

Username / Email:
Password:
  |  Forgot your password?