Oracle launches business-ready blockchain applications for supply chain and logistics

Computer technology giant Oracle has announced that it is expanding its blockchain service offering to supply chain and logistics sector.

Earlier this year, Oracle launched Oracle Blockchain Cloud Service, which allows organizations to easily build blockchain networks to drive more secure and efficient transactions and to track goods through supply chains on a global scale. It said that the platform has already been adopted by businesses spanning multiple industries. Some of these organizations include Arab Jordan Investment Bank, Certified Origins, Indian Oil, MTO, and TradeFin.

The company said that it is now expanding the platform to “include new business applications built on its own blockchain development platform to support new use cases, such as track and trace for supply chain and logistics.”

In an official release dated October 23, the company has announced the launch of Oracle Blockchain Applications Cloud and said that the new suite of use-case-specific SaaS applications enhances traceability and transparency throughout the supply chain.

The new Oracle Blockchain Applications include Intelligent Track and Trace, Lot Lineage and Provenance, Intelligent Cold Chain, and Warranty and Usage Tracking.

“Oracle's business-ready blockchain applications reduce barriers to adoption of blockchain and provide immediate business benefits to customers by improving trust and transparency in their business network and transforming their supply chains,” Oracle said.

These applications are built with Oracle Blockchain Cloud Service and seamlessly connect with Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Management (ERP) Cloud and other Oracle Cloud Applications. They also leverage Internet of Things (IoT) connectivity and use embedded artificial intelligence (AI) features to leverage real-time data to improve the accuracy of data flowing in a customer's business network.

"Oracle Blockchain Applications make it easy for customers to create a trusted network of partners to improve the agility, accuracy, and visibility of their supply chain. These blockchain applications work seamlessly with existing Oracle Cloud Applications and are out-of-the-box ready with pre-built integrations and business network templates for common business processes,” Rick Jewell, Senior Vice President, Supply Chain & Manufacturing Cloud Applications, Oracle.