Oracle, an international computer technology company, confirmed the release of its Blockchain platform in an official press release on 16 July.
Oracle Cloudchain Cloud Service (OBCS) focuses on transaction efficiency and supply chain authentication using the Hyperledger Fabric foundation.
Current users of the pre-premiere version of the product are Arab Jordan Investment Bank (AJIB), Indian Oil and Nigeria Customs, according to a press release.
"Blockchain is one of the most transforming technologies of our generation," said Amit Zavery, vice president of the Oracle Cloud Platform.
"With the Oracle platform, companies can streamline their operations, eliminate unnecessary processes and trade with their distributed networks more easily, more transparently and more securely than ever before.
Oracle is not alone in its efforts to use Blockchain for its supply chain and transaction streamlining. Accenture is working together to deliver similar results to the aviation industry, including Hyperledger Fabric.
Among the banks, the current views on Blockchain are mixed, and some institutions question the true value of the technology to the banking sector.
Meanwhile, AJIB praises Oracle after using the pre-release platform version.
"Oracle has helped us minimize the complexity of electronic fund transfers by reducing costs, increasing efficiency and security, and ultimately improving the overall customer experience. - deputy director general for information technology and security Ayman Qadoumi said.