Oracle, the world's leading database provider, is beginning to see traction from its blockchain investments—which it has aimed to make more accessible to major industries
With a tempering of blockchain fanfare as the technology crested the peak of the hype cycle, Oracle’s two-year-old foray into themay have gone largely unnoticed. Especially as it might have been dismissed as a copy cat or catch up move, as yet another large technology firm converted to the blockchain gospel like Microsoft and IBM before it. Oracle’s move, however, comes with a very different asset base, for which it is starting to realize gains from its blockchain offering.
From speaking to senior leaders at Oracle, the firm knows that this broad cross-industry integration is the source of its advantage vis-à-vis its peers. How it has positioned its blockchain bet comes with a keen awareness that this next wave of technology innovation is not about discrete yet disconnected pilot projects in single industry silos.
Prior to firms like Oracle and its peers entering the blockchain race with cloud-based, inter-operable and plug and play solutions, firms interested in tinkering with this emerging technology had to overcome a number of challenges. Not least of which is the general lack of technical talent proficient in coding with the various blockchain standards.
Amid so much risk aversion with digital transformation and growing ambivalence of blockchain hype, Oracle's moves to simplify outcomes through a cloud-based, plug and play solution that sits astride its broad database capabilities can deliver that elusive return on technology investments that is so hard for mature industries to grasp.
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