Oracle Blockchain Applications Cloud

2018: SaaS-application of Oracle Blockchain Applications Cloud

On October 31, 2018 the Oracle company submitted a complex of cloud business applications Oracle Blockchain Applications Cloud to help customers to increase trust and to provide flexibility of transactions in business networks. The complex of the SaaS-applications considering scenarios of use improves possibilities of tracking and increases transparency on all supply chain. Oracle applications of Blockchain Applications are created on a cloud platform of Oracle Blockchain Cloud Service and are seamlessly integrated with Oracle Supply Chain Management Cloud, Oracle Enterprise Resource Management (ERP) Cloud and other cloud applicaions of Oracle.

Modern supply chains generate millions of data and thousands of daily transactions, which need to be confirmed and approved that limits rates of business and puts the companies at risk. Blockchain Applications Oracle applications, according to the developer, allow clients to trace products through the supply chain using the distributed register to increase trust to business transactions, to have higher knowledge on a chain of multilevel deliveries, to accelerate the goods delivery and contract performance, to raise customer satisfaction.

According to the statement of the developer, ready business applications of Oracle Blockchain Applications reduce barriers to implementation of blockchain technology and provide to clients of business benefit, increasing trust and transparency in their network of business partners and transforming their supply chains. Oracle applications of Blockchain Applications include:

• Intellectual monitoring (Intelligent Track and Trace) – gives an opportunity of end-to-end tracking of goods and transactions in supply chains to reduce delays and to automate storage of records. The application is created by a digital trace of each step to business networks - during purchases, productions and transportation. Provides a convenient view of a situation for easier analysis of causes and effect relationships and faster dispute resolution. It helps clients to perform targeted withdrawals of products, to resolve disputes, to reduce the number of counterfeits, to improve compliance to regulatory requirements and to be protected from fraud.
• Sources and origin of a batch (Lot Lineage and Provenance) – allows to trace product history, serialization and origin, managing lifecycle of hierarchical serial numbers, writing origin and authenticity of components and monitoring all conversions of a product. Helps with observance of regulatory requirements, receiving target withdrawals of a product and counterfeit prevention of components.
• Intelligent refrigerating networks (Intelligent Cold Chain) – monitoring helps to perform and to trace a supply chain with a controlled temperature, creating recommendations for process optimization and quality assurance and security of the cooled products in the pharmaceutical and food industry.
• Tracking of guarantees and use (Warranty and Usage Tracking) – saves from paper processes and automates tracking of use of especially valuable assets. The checked and controlled register for guarantees, claims and insurance helps to accelerate processing of calculations and claims and to prevent abuse of assets.

Oracle noted that applications are created on a cloud platform of Oracle Blockchain Cloud Service which helps the companies to build a blockchain network for ensuring safer and effective transactions with trading partners. Platform services Oracle Blockchain were selected by many global companies from a broad spectrum of the industries, including transport, supply chains and logistics, power, retail business and electronic trading, financial services, telecommunications and public sector.

"We use Blockchain Oracle applications as the digital platform for shipping documents which help us to monitor and monitor shipment transactions easily. We expect that time necessary for collecting, consolidations and confirmations of data from several participants, will be reduced by 65%. We also hope to integrate and approve data from different documents, using Oracle application of Intelligent Track and Trace". Lionel Louie, commercial director of CargoSmart

"We make use of our experience in the field of creation of user-friendly, specialized business solutions that clients could get without delay advantages from blockchain technologies by conversion of the existing business processes. Oracle applications of Blockchain Applications allow clients to create a trusted network of partners for increase in flexibility, accuracy and transparency of the supply chain. These blockchains-applications work together with the existing cloud applicaions of Oracle and are ready for use, thanks to the built-in integration and templates of business networks for the general business processes". Rick Jewell, senior vice president for the Oracle Supply Chain & Manufacturing Cloud Applications direction

Blockchain Applications Oracle applications are also used by possibilities of Internet of Things (IoT) and apply the built-in functions of artificial intelligence (AI) to work with data in real time to increase data stream accuracy in business network of the client. Oracle reported that the company in parallel develops several technologies for providing intellectual recommendations and the best user experience in the SaaS-applications for supply chain management, finance, human resources and client experience.^[1]

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