Oracle launching new blockchain-as-a-service products next month

Oracle is set to launch new blockchain-based software products this month, it has been announced.

A platform-as-a-service application will be released next month, the company said, and Oracle will work with Banco de Chile to log inter-bank transactions on a hyperledger. The Nigerian government will also use the application to document customs and import duties.

The company hopes to pitch the products to pharmaceutical companies, reports Bloomberg, in order to track medicine and ease recalls.

Last year Oracle unveiled its blockchain cloud platform, but many other software companies including Microsoft and Amazon are now utilising blockchain technology for their own products and services.

This week, Microsoft announced the public preview release of Azure Blockchain Workbench, which reduces app development time for developers and businesses.

“Blockchain promises to fundamentally transform how business is done, making B2B interactions more secure, transparent, and efficient,” said Amit Zavery, Oracle Cloud Platform senior VP, last October.