Oracle is a traditional tech company that has been struggling to gain traction in the cloud, but it could see blockchain as a way to differentiate itself. At Oracle OpenWorld today it announced the Oracle Blockchain Applications Cloud, a series of four applications designed for transactions-based processing scenarios using Internet of Things as a data source.
“Customers struggle with how exactly to go from concepts like smart contracts, distributed ledger and cryptography to solving specific business problems,” Atul Mahamuni, VP of IoT and Blockchain at Oracle told TechCrunch.
The company actually introduced a more generalized blockchain as a service offering at OpenWorld last year, but this year they have decided to focus more on specific use cases, announcing four new applications. The blockchain comes into account because of its nature as an irrefutable and immutable record.
In cases where there is a dispute over the accuracy of a particular piece of data, the blockchain can provide incontrovertible proof. As for the Internet of Things, that provides data points you can use to provide that proof. Your sensor feeds the data and it (or some reference to it) gets added to the blockchain, leaving no room for doubt.
The four applications involve supply chain-transaction data including a track and trace capability to follow a product through its delivery from inception to market, proof of provenance for valuables like drugs, intelligent temperature tracking (what they are calling Intelligent Cold Chain) and warranty and usage tracking. Intelligent Cold chain ensures that a product that is supposed to be kept cold didn’t get exposed to higher than recommended temperatures, while warranty tracking ensures that a product was being used in a proscribed fashion and should be subject to warranty claims.
Each of these plays to the some of Oracle’s strengths as a company that builds databases and ERP software. It can draw on the information it tends to collect any way as part of the nature of its business processes and add it to a blockchain and other applications when it makes sense.
“So what we do is we get events and insights from IoT systems, as well as from supply chain ERP data, and we get those insights and translation from all of this and then put them into the blockchain and then do the correlations and artificial intelligence machine learning algorithms on top of those transactions,” Mahamuni explained.
This year perhaps even more so than the last couple, Oracle is trying to differentiate itself from the rest of the cloud pack, as it tries to right its cloud business. By building applications on top of base technologies like blockchain, IoT and artificial intelligence, while taking advantage of their domain knowledge around databases and ERP, they are hoping to show customers they can offer something their cloud competitors can’t.
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