Oracle’s enterprise-grade blockchain platform is now available as part of Everledger’s blockchain-based solution following a rigorous development and scale evaluation process.
As part of this, Everledger assessed Oracle’s blockchain offering for its ability to provide extended product capabilities to support enhanced customer solutions.
In particular, the alignment will give Everledger users the ability to shadow blockchain transactions into a relational database, making it easier to run analytics on them.
This will supposedly enable improved decision making, for example, being better able to determine how long it takes to transport gemstones from mine to the wholesaler and the retailer.
The ability to transparently track the provenance and lifetime journey of assets as they move across global supply chains is especially critical for high-value goods.
Everledger CEO Leanne Kemp says, “With an increasing consumer consciousness and a vocal demand for transparency, our work is focused on engaging entire business ecosystems to provide consumers with the ability to make fully informed purchasing decisions.
“It is thus key for us to enable the ease of systems interaction and provide value add to our customers.”
“The inclusion of Oracle Blockchain Platform in our offering enables us to deploy more innovative products and solutions for our customers globally, in particular with improved time to market for business intelligence reporting solutions.
“Oracle’s comprehensive enterprise-grade offering will open our customers to realising more from our blockchain-based platform and crystallise value from the data in their own systems.”
Some of the new capabilities of Oracle Blockchain Platform are deemed critical by Everledger in the integration of its blockchain-based platform with customers’ existing business and IT systems.
As blockchain becomes an important data store in the enterprise, the Oracle Blockchain Platform enables users to capture blockchain transaction history and current state data for analytics as well as integrate it with other data sources.
Oracle group VP Frank Xiong says, “Our longstanding goal has been to help customers to manage, protect, analyse and use the world’s data for the benefit of all.
“Being able to work with innovative companies like Everledger is an amazing opportunity. We look forward to helping both the company itself further its innovations in tracking and tracing the authenticity of some of the world’s most precious items, but also helping those in the ecosystem link key data sources for wider benefit.”