Big Red brags bank backing for blockchain biz

Oracle confirmed a bunch of firms in financial services - traditionally a conservative sector - were among the first to test its blockchain platform that today was made generally available to all and sundry.

The service, trailed at last year’s gabfest Oracle Open World, aims to provide a resilient, scalable and secure blockchain for punters.

According to Gartner's 2018 CIO survey, the tech is heavily overhyped: just 1 per cent of survey-takers had agreed to full-blown blockchain projects; 8 per cent were in short-term planning or toying with the tech; and 77 per cent had no interest whatsoever.

But to coincide with general availability of Oracle's blockchain service, Big Red released details of businesses that have already made the leap and are using Oracle's platform for managing and tracking goods through supply chains.

These include the Arab Jordan Investment Bank, which aims to reduce the complexity of electronic fund transfers; CargoSmart, for building prototypes for documentation processes in 12-week sprints; and Nigeria Customs, which aims to automate customs excise trade business processes.

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