Tuesday, 30 October 2018

Latest Oracle Update: Tech Giant Launch New Apps To Diminish Blockchain Market

Oracle Update to remove blockchain from market

The latest Oracle update will deeply impact the market of blockchain technology. The renowned tech giant made an announcement at its annual San Francisco OpenWorld conference about the launch of four supply chain use case. All the given use cases will be focusing on blockchain apps and it certainly doesn’t stop there and has a lot more offer. It seems that the company is not relying on the volatile market of blockchain in a long run and is working to make a substitute to support their commercial value.

Oracle Cloud Platform’s Executive Vice President Amit Zavery stated that this is the beginning of a new phase and the company has just begun with the service which is in demand. The most interesting part is that this is applicable in all industry domains and verticals. He further informed that the company will be developing blockchain powered applications for the domain such as healthcare and finance, to begin with later moving on to other fields as well.

According to the Oracle update the company is already working with a few potential clients of the finance sector. However, there are clients which work on specific customized development too, therefore, the company might be working on packaged applications in the upcoming days. In the healthcare domain, there are many possibilities to explore in terms of a large amount of patient and supplier database that can be organized more efficiently. Blockchain technology can be integrated into the system for sharing and monitoring the information on a secured network. (Via CIO)

Blockchain Technology V/S Oracle

A global research and advisory firm, Gartner has made predictions that by the year 2021 about 90 percent of the supply chain blockchain initiatives will turn out to be proofs-of-concept. In addition to this, it also stated that the integration challenges will cut short most of the initiatives to large-scale enterprises as mentioned by Computer World.

Perhaps, it seems that the Oracle update has foreseen the problems lying ahead which can possibly roadblock the pace of technological advancement.

 

The post Latest Oracle Update: Tech Giant Launch New Apps To Diminish Blockchain Market appeared first on OWLT Market.



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