We are in the early days of a technology revolution that will disrupt how human value is organized, how humans do business on the Internet, as well as how TRUST is established between parties in business. Distributed Ledger (DLT) and Blockchain Technology promise to lead this revolution on a global scale. That said, according to a 2018 PWC survey of 600 executives in 15 territories, 44% of respondents cited “Ability to bring the network together” and 29% of respondents cited “Inability to scale” as their top three largest barriers to Blockchain adoption in their respective industries.
It is clear that the lack of enterprise readiness in the DLT/Blockchain space is holding the industry back from mainstream adoption. This reality is most prevalent in supply chain management and manufacturing as this is the first industry to benefit from this new technology. The trend is toward pre-built enterprise-ready applications, however not all companies can ensure enterprise readiness. The majority of offerings provide platforms for companies to develop their own custom solutions. This process either requires end users (companies) to have in-house talent available to build and maintain these new applications, or to wait for a custom solution that may or may not be ready to scale at the enterprise level. This introduces uncertainty and risk that many enterprises are not ready to take on.
Oracle solves this problem as a leader in the DLT/Blockchain space having developed its own applications using the enterprise grade Oracle Blockchain Platform. Oracle has leveraged this platform to develop business-ready tools for supply chains that can scale and provide business value from day one. One of the first prebuilt products in this service suite is Oracle Intelligent Track and Trace. Customers can be sure that their prebuilt Oracle DLT/Blockchain solution is secure, easy to use, and enterprise-ready from day one. Although supply chain is one of the most common attack vectors for existing companies using DLT/Blockchain, there are few solution providers who can offer the quality, performance, TRUST, and ease of use that Oracle Intelligent Track and Trace offers for supply chain visibility.
This product uses Hyperledger Fabric technology embedded in Oracle’s Blockchain Platform to create a tamper-resistant distributed ledger of relevant information that cannot be changed, ensures that provenance data is accessible/transparent across the participants, as well as provides state of the art security for data.
And if you are interested in getting a more hands on experience with Oracle Intelligent Track and Trace and Internet of Things apps, visit our exhibition at booth #580 at the IoT Tech Expo at the Santa Clara Convention Center, Nov 13-14, 2019.