Oracle Blockchain Benefits

Oracle blockchain is built on the Linux Foundation’s Hyperledger Fabric. Its cloud services enable organizations to develop blockchain networks that facilitate more secure and efficient transactions. It also makes it easier to maintain visibility of international supply chains. Oracle's blockchain platform benefits from decades of Oracle’s industry experience and its broad ecosystem of partners to reliably share and carry out reliable transactions with suppliers, banks, and other business partners.

                                   

The Benefits of Blockchain: 

• Greater transparency: Transaction histories are more transparent through the use of blockchain technology. Because blockchain is a type of distributed ledger in which all participants of the network share the same documentation as all have their individual copies. The shared version can only be updated when all participants agree. Changing a single transaction record would require the alteration of all subsequent records and the collusion of the entire network. Therefore, the data in a blockchain are more accurate, consistent and transparent than when subjected to heavy processes.
• Enhanced security: Oracle Blockchain is more secure than other record keeping systems because transactions must be agreed to by to blockchain network before they are approved. After a transaction is approved, it is linked to the previous transaction. This, coupled with the fact that the information is stored in a computer network instead of a single server, makes it very difficult for hackers to compromise transaction data.
• Improved traceability: When exchanges of goods are recorded on a blockchain, users can easily track the availability of those products in real time.  Historical transaction information helps to verify the accuracy and authenticity of data. On top of that, they also prevent fraud.

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