Oracle Offer Blockchain Products

Oracle Corp., the second largest software company in the world, will offer blockchain-based products to its customers within the next two months.

President Thomas Kurian , head of the Oracle, explained that products built on  decentralized ledger-based systems in Oracle’s statement will meet with customers in the upcoming period.

The California-based company has announced that it will work with Banco de Chile on international accounts for bank transfers. Oracle is also working with the Nigerian government, another African country eager to make a breakthrough in terms of Blockchain. It is known that the Nigerian government wants to use Blockchain in various business lines.

In the news, Oracle’s Blockchain-based systems will be available for drug distribution companies at the same time.

The use of Blockchain in many industries continues to increase steadily. Finally, the Spanish BBVA bank became the first bank to issue loans through Blockchain. The authorities praising the new Blockchain-based system, which is said to be particularly effective in reducing the completion of high value loans given to large institutions. BBVA had already stated that it would complete all these processes in hours instead of days.

In addition, South Korean technology giant Samsung has taken an important step in controlling the product supply chain by using a Blockchain based system. Song Kwang Woo, Samsung’s Blockchain chief , said they believe they will cut costs by 20 percent.

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