The world’s second largest software company Oracle Corp. has announced its plans to launch blockchain products just in the nearest future. Already this month the company will start its new blockchain journey, joining the constantly expanding group of companies that provide products based on the digital-ledger technology behind Bitcoin.

According to Thomas Kurian, president of product development of this California-based company, they are going to launch a platform-as-a-service blockchain product in May and to introduce decentralized ledger-based applications in June.

Blockchain today is widely implemented in dozens of different areas and its popularity is rather clear given the nature of this technology. Thanks to distribution of data across thousands of computers over the internet, it helps to minimize risks that can be brought by information kept by a single centre or entity, for example, a cloud-computing provider.

Oracle cooperates with Banco de Chile with a view to carry out inter-bank transactions on a hyperledger. The company is also said to have established collaboration with the government of Nigeria that is working on application of blockchain technology for documenting customs and import duties.


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