Oracle Blockchain Cloud

Oracle Blockchain Platform is currently being consulted in the food & agriculture sector. Specifically around food traceability and waste (i.e. to support a circular economy) and to improve transparency between a broad network of farmers/producers, processors, distributors, retailers (and consumers). In the current situation of an contamination it can take up to days, weeks and even months to find the sources and contaminated assets. Using blockchain we van inform all chain partners within minutes.

At AMIS we believe that blockchain can be a valuable technology for at least the following industries; Food & Agriculture, Smart Asset Management and Social Housing.

Oracle Blockchain is currently in use across the bank to serve cross boarders money transfer between our subsidiaries outside Jordan. Traditionally, funds transfer will take up to 3 days to be deposited in the beneficiary account, in addition to the high cost of this transaction and data privacy issue because of intermediaries.

I believe Oracle Blockchain Cloud is a promising technology in the area of data privacy and e-KYC, especially in the banking industry, as it can be a centralized source of customer information for financial institutions, which will make it as a single source of truth. In my opinion, this will serve the purpose of an open banking concept. Also, and because of the Blockchain characteristics, I see a fundamental role for it in overcoming PKI limitation and enhancing IoT.