Thanks to distribution of data across thousands of computers over the internet, it helps to minimize risks that can be brought by information kept by a single centre or entity, for example, a cloud-computing provider. Software giant Oracle is joining the growing number of firms offering blockchain products. From this month the company will offer a platform-as-service product together with decentralized ledger-based applications. Oracle is already working with Banco de Chile to run inter-bank transactions on a hyperledger and is developing blockchain technology for Nigeria. Pharmaceutical companies are also expected to use the products to manage supply chains. The launch comes a few months after Oracle introduced its blockchain cloud platform. Blockchains have been around since 2009, but they were initially developed as an alternative to traditional databases.
Software giant Oracle is joining the growing number of firms offering blockchain products. From this month the company will offer a platform-as-service product together with decentralized ledger-based applications. Oracle is already working with Banco de Chile to run inter-bank transactions on a hyperledger and is developing blockchain technology for Nigeria. Pharmaceutical companies are also expected to use the products to manage supply chains. The launch comes a few months after Oracle introduced its blockchain cloud platform. Blockchains have been around since 2009, but they were initially developed as an alternative to traditional databases.