As an increasing number of tech companies begin to divert resources towards the emerging blockchain industry, Oracle, the multinational tech firm that offers database and cloud services, has furthered its blockchain intentions by partnering with supply chain-focused platform OriginTrail.
Oracle, which made its foray into blockchain last year, will integrate its Oracle Blockchain Cloud Service with the OriginTrail platform. The partnership will involve Oracle’s offices across Southeast Europe.
The primary agenda of the partnership is to deliver secure and trusted data sharing using Distributed Ledger Technologies. OriginTrail’s universal platform for supply chains can help facilitate this, as multiple entities would be sharing sensitive data with each other.
The integration efforts have been designed such that companies already using Oracle’s product will be able to seamlessly integrate the software with their blockchain solutions.
This allows businesses using legacy systems to effortlessly introduce innovative blockchain solutions to their services and products. OriginTrail’s protocol, meanwhile, will make inter-organization communication between these enterprise blockchains easier.
Rajko Novak, Oracle’s country manager of Slovenia, said:
Oracle offers businesses an easy way to adopt blockchain and transform enterprises with the comprehensive and enterprise-grade blockchain platform. Integration with the OriginTrail network enables easier data sharing between companies along the supply chains, all based on distributed ledger technologies. Partnership with OriginTrail brings Oracle’s enterprise-grade technology closer to specific supply chain purposes. This enables to extract more value out of data being exchanged in the multi-organizational environment.
The integration will be particularly useful for businesses looking to leverage the efficiency and transparency of Oracle’s blockchain services to build their own platforms, as well as 3rd-party services and supply chain-focused solutions.
OriginTrail is Laying the Groundwork for a Unified Supply Chain Network
OriginTrail is building a blockchain protocol that can unify all of the world’s individual supply chain platforms (or “become the global language of supply chains,” as they say), which would allow for a more fluid and unobstructed interaction between entities and nations that may choose to work with a specific blockchain platform.
Speaking on the partnership with Oracle, OriginTrail co-founder and CEO Tomaž Levak said:
There is a lot of value that can be captured from data sharing across supply chains. A partnership with OriginTrail will enable companies that are already using Oracle products and services to easily use OriginTrail’s solutions, and the easier integration of Oracle’s systems with various blockchains. We are immensely thrilled to work with a world leader to together tackle challenges resulting from an industry paradigm shift from traditional databases to distributed ledger technologies.
The event was marked with a visit by popular YouTube blockchain educator IvanonTech, who interacted with the OriginTrail team and Oracle members at the former’s office in Ljubljana. A video of the visit is expected soon.
OriginTrail has managed to rope in over 50 partners into its TRACE Alliance, a non-profit association that brings businesses, academics, and the public sector together for the development of practical supply chain solutions. Members already include Deloitte, Oregon Tilth, and NorthBlock Group.
The OriginTrail team has hit a few milestones in 2018. The team successfully implemented a pilot with Chinese food marketplace Yimishiji, and partnered with EVRYTHNG, an IoT platform that collects data on smart products and packaging in real time.
In addition to drawing several members to the TRACE alliance and working with different businesses, the team is also set to launch their mainnet, Vostok on December 7.
Named after the first manned spaceflight by Russian cosmonaut Yuri Gagarin, the Vostok launch will test OriginTrail’s technical developments in the real world. It will also put the network’s different mechanisms to the test. However, this stage will only involve node holders. Interested parties can submit their application here.
Following the mainnet launch, the team expects to move onto the “freedom” phase sometime in Q1 2019, a stage that will see the network opening up to all participants.
This intense effort is necessary to achieve the OriginTrail vision of creating one language for the entire supply chain industry, and consequently transforming the trade and transport industry.
Now working with Oracle, OriginTrail is looking to become the bridge for different businesses and IT systems:
In this way, the OriginTrail protocol is aiming to become a trusted, interoperable bridge for not only different IT systems amongst supply chain stakeholders, but also different technological systems, and networks in general, looking to harness the power of both Ethereum and Hyperledger Fabric.
Learn more about OriginTrail on their website. You can also join their community on reddit and Telegram.
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