Oracle’s Blockchain Strategy: Competition for Microsoft and IBM?

 

 
The software company Oracle would now like to jump on the blockchain train and is right next to IBM and Microsoft.

Last week Oracle presented its new Blockchain Cloud platform at the OpenWorld 2017 conference in San Fransisco. With its “blockchain-as-a-service” approach, which is primarily aimed at companies, Oracle is in direct competition with IBM and Microsoft, who have been offering and exploring enterprise blockage solutions for a long time.

According to a press release from Oracle, the blockchain extension is to improve and expand existing cloud-based services. The usual arguments for a blockchain solution are listed as motivation: increased security reduced costs and increased efficiency. These advantages are to be enabled, among other things, by time stamps, high scalability and real-time analysis in the blockchain network.

Oracle wants to address not only large companies but also small companies and start-ups. The Blockchain Cloud Service should also enable start-ups to run their own smart contracts across the cloud platform. The transaction volume is decisive so that the service is thus also attractive or affordable for smaller companies.

Another reason for the Blockchain Cloud Service is the link between companies and customers, which is to be secure and easy via established channels. Already in 2018, the service should also be available to the company in practice.

The extent to which Oracle can position itself alongside IBM and Microsoft as a provider of block-based enterprise solutions has yet to be demonstrated. However, the approach of addressing smaller and/or less financially strong companies could turn out to be a very clever strategy.

 

~ Written by happy_c0der

 

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