Oracle introduces the enterprise Blockchain strategy

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The firm unveiled its enterprise-grade blockchain cloud platform Monday at its OpenWorld 2017 conference in San Francisco. With the initial debut, next year's launch is expected - Oracle becomes the last member of the "blockchain-as-a-service" ecosystem, joining the likes of IBM and Microsoft, two other technical specialists who care for corporate customers, their respective cloud-based distributed registers resources.

Oracle, according to its statement and statements from managers, considers technology as a way to expand (and optimize) its existing cloud-based offerings, which are mainly aimed at the digitizing of a number of business functions.

The company wants to attract both large and small firms, but Frank Xiong, Oracle's vice president of Blockchain Cloud Service, said that startups who want to test a smart contract or application will be able to do it cheaper using the cloud platform because pricing is based on volume of the transaction.

For existing customers, the ERP platform will provide a way to connect with external partners and clients, and securely and securely connect them to internal channels and processes.

Although the exact date is unclear, Xiong said that the service will be published for some time in 2018.