A year after launching is Blockchain Cloud Service, Oracle is taking the next step and launching a Blockchain Applications Cloud -- a suite of out-of-the-box ready blockchain applications tailored for specific use cases. The initial batch of applications are focused on supply chain use cases.
The new blockchain applications come with pre-built integrations to the Oracle Supply Chain Management (SCM) Cloud, the Enterprise Resource Management (ERP) Cloud and other Oracle Cloud applications. They also come with business network templates for common business processes.
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Blockchain is a significant investment area for Oracle, Juergen Lindner, SVP of SaaS product marketing at Oracle, said to ZDNet.
"We'd like to think it's this new fabric of trust" that facilitates business transactions, he said.
A blockchain, the technology behind the cryptocurrency Bitcoin, is a shared, distributed ledger that can store complete transaction histories. It has a variety of use cases for enterprises that want to rely on tamper-proof transactions to create new revenue streams or improve business operations.
While blockchain technology has the potential to help digitize and transform industries, it's still very new to most enterprises: Currently, just 3 percent of organizations that are deploying blockchain do so at scale, according to a recent report from technology consulting firm Capgemini. Just 10 percent of organizations have a pilot in place. A majority of organizations (87 percent) report being in the early stages of experimentation with blockchain.
Along with Oracle, companies like SAP and IBM are offering blockchain services to businesses.
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The first applications on the new Oracle Blockchain Applications Cloud include:
- Intelligent Track and Trace: This application creates a digital trail of each step in the supply chain, including procurement, manufacturing, and transportation. It also performs root-cause analysis to help customers execute targeted product recalls, resolve disputes, reduce counterfeits, improve regulatory compliance and protect against fraud.
- Lot Lineage and Provenance: This application manages the lifecycle of hierarchical serial numbers, records the origin and authenticity of product components, and tracks all transformations of a product. It helps in regulatory compliance, targeted recalls and preventing counterfeit components.
- Intelligent Cold Chain: This application helps monitor and track the supply chain for temperature-controlled products such as pharmaceuticals and food and beverage products. It provides recommendations for optimizing processes to ensure the quality and safety of products.
- Warranty and Usage Tracking: This application automates usage tracking for high-value assets. It provides an auditable and verifiable log for warranty, liability claims, and insurance.
While the initial use cases are focused on supply chain, Oracle plans to roll out other product lines on the new cloud quickly, Lindner said.
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