Oracle Corporation (NYSE:ORCL) has announced that it is already set to unveil its blockchain-as-a-service platform. Speaking at the California-based multinational’s headquarters, the President of product development, Thomas Kurian, revealed that the company’s software was designed in such a way that it would have interoperability with other services. He went a step further to state that the business guru was already using its software to work with big clients around the globe.
A person well conversant with the matter, who wanted his identity kept anonymous for reasons best known to him has disclosed that by the end of May, Oracle will already have gotten the blockchain product ready.
There are reports that Nigeria’s government is collaborating with the company and that is in a bid to put its import taxes and customs on a blockchain. In October last year, speculations started moving around that Oracle might be seeking out a blockchain solution of its own and that might have resulted from its move to team up with Hyperledger in a bid to come up with enterprise-level software on the cloud.
Oracle needs to showcase greater determination
A great bang of silence took root from that point moving forward, a matter that resulted in a lot of people taking the standpoint that the company wasn’t determined to prioritize the move anymore. The background work is indeed a great move according to market observers, but all the same the company needs to move with speed if it wants to succeed. IBM (NYSE:IBM) is a force to reckon with more so considering that so far it has floored Oracle its own blockchain undertakings with software tied to the Hyperledger Fabric.
Mark Hurd,the Oracle Chief Executive , has said that they are quite pleased as a company for having succeeded in coming up with a brand-new set of apps.He said that by so doing they had distinguished themselves from the rest.
A number of Oracle executives are rather optimistic about the company’s cloud initiatives. According to them, they are with the passage of time gaining traction in what happens to be a competitive enterprise market.