Nowadays, blockchain technology is no longer just for startups, even the big businesses are getting on board.
Oracle announced this month that it will release a new platform next year that’s designed to help businesses use blockchain technology for supply chain management and smart contracts.
“Blockchain holds the promise to fundamentally transform how business is done, making business-to-business interactions more secure, transparent, and efficient,” said Amit Zavery, senior vice president of Oracle Cloud Platform, in a press release.
Oracle’s platform, which is currently in beta testing, is designed to provide “pre-assembled” tools for enterprises to use for anything that requires contracts, transactions, or tracking.
The platform is built on top of Hyperledger Fabric, an open-source blockchain endorsed by other enterprise competitors including IBM, Cisco, SAP, and Intel. Oracle joined the Hyperledger Project, which is part of the Linux Foundation, as a supporting member in August.
Just like the technology behind bitcoin, Hyperledge Fabric is a digital ledger. It’s designed to be extremely difficult to tamper with, thus reducing the likelihood of fraud.
While many blockchains are public – which means the data on them can be seen by anyone with the technological know-how – Hyperledger is private. That’s so businesses can use it without revealing proprietary information.
As a member of Hyperledger, since founded, Shuqin Tech is devoting themselves into the Blockchain research and participating in the supply chain developing. A few days ago, together with Fenyang government, the govern-chain data centre project launched formally, further promoting the fast development of food traceability industry through Blockchain. Blockchain is a distributed ledger, each data with timestamp will be stored and recorded on the chain, and is not allowed to be deleted or modified. Through the trusted nodes authorization management, it can bind to each wine with brand fingerprint, then to prevent the adulterated wine from production to sales.
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