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Oracle, the giant tech company, is going to be working on new blockchain applications that can improve transparency and traceability throughout business enhancing the chain of value and trust.
Transactions within business can be often convoluted and slow. Oracle is working to launch a new business network that supports blockchain applications inside the cloud. SaaS applications are going to be working to improve transparency through every level of the supply chain. Each of the blockchain applications that oracle is building is within a blockchain cloud service. This can mean that any business will be able to seamlessly connect with these services for their resource management and to create a more modern chain of supply.
Any modern supply chain within business often involves thousands of daily transactions that all require ongoing validation. This can often expose many organizations to risk because of the length of validation and the secrecy of each transaction. Blockchain applications can have customers continue tracking products through the supply chain and with a public ledger available in the cloud.
What this will eventually lead to is customers that are more informed and able to track every product that they order or use through the supply chain. Tracking everything from the materials in manufacturing to the time it takes to ship products, verification on premium ingredients and more can all be properly analyzed.
One of the earliest adopters of this service is a company called Alpha Acid Brewing located in Belmont California. The company enjoys having access to blockchain applications for supply line tracking so that they can have a verifiably fresh product. They can analyze the ingredients from their suppliers as well as analyse data about the process of every batch of their beer. This is ensuring a better quality of ingredients and an overall fresher product that is now verifiable even down to the customers.
The newest features that Oracle is working on within this technology could result in improvements for temperature control, intelligent tracking, improvements to warranties and more. With blockchain technology finding its way into applications that go beyond finance today, this is an example of a new application that could change business and customer service as a whole and in nearly any industry.
Many companies are offering platforms for their customers to build their own applications within, but Oracle is one of the first that is offering user friendly customer focused business applications that will be ready for implementation in any industry. This represents a very exciting leap forward for this technology.