Oracle announces general availability of Blockchain Cloud Service

A statement from the company said among the early adopters were Arab Jordan Investment Bank, CargoSmart, Certified Origins, Indian Oil, Intelipost, MTO, Neurosoft, Nigeria Customs, Sofbang, Solar Site Design and TradeFin.

Oracle’s blockchain platform is built atop The Linux Foundation’s Hyperledger Fabric. It is pre-assembled with all the underlying infrastructure dependencies, container lifecycle management, event services, identity management, REST proxy, and a number of operations and monitoring tools integrated under a single console, expediting the set-up and application development process.

The service is an Oracle-managed cloud platform backed by a 99.95% availability service-level agreement, with built-in high availability configuration, autonomous recovery agents, as well as continuous ledger backup capabilities that can enable multi-data centre disaster recovery across availability domains.

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“Blockchain promises to be one of the most transformative technologies of our generation,” said Amit Zavery, executive vice-president, Oracle Cloud Platform.

“We are excited to announce the availability of Oracle Blockchain Cloud Service. It is the result of years of R&D alongside our valued partners and customers.

“With Oracle’s platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before.”

Hyperledger executive director Brian Behlendorf said: “Companies are increasingly testing and seeing the value blockchain technologies can offer their organisations, from streamlining internal processes to building trusted networks with partners, customers and third parties.

“Based on Hyperledger Fabric, Oracle’s platform, with its support for interoperability with non-Oracle Hyperledger Fabric instances, will help build further support for open standards and interoperability, while illustrating how quickly, easily and securely businesses can begin utilising blockchain to improve business processes.”

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