Oracle has launched Oracle Blockchain Applications Cloud, a suite of SaaS applications consisting of four applications to "enhance traceability and transparency throughout the supply chain".
The new offering follows the recent launch of its Oracle Blockchain Cloud Service, which was launched earlier this year and was developed to offer organizations assistance to building blockchain networks to drive secure and efficient transactions.
The new applications are built with the Oracle Blockchain Cloud Service, Oracle Supply Chain Management Cloud and a number of other Oracle cloud applications.
According to Oracle, the new applications utilize IoT connectivity and AI features to leverage real-time data to advance the accuracy of data in a customer's business network.
The new applications offer end-to-end traceability of goods and transactions in supply chains; product genealogy; assists to monitor and track temperature-controlled supply chains; and automated usage tracking for high-value assets.
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Oracle senior VP of supply chain and manufacturing cloud applications, Rick Jewell, said: "Oracle Blockchain Applications Cloud make it easy for customers to create a trusted network of partners to improve the agility, accuracy and visibility of their supply chain.
"These blockchain applications work seamlessly with existing Oracle Cloud Applications and are out-of-the-box ready with prebuilt integrations and business network templates for common business processes," he added.
According to Oracle, the Oracle Blockchain Applications Cloud will aim to reduce existing barriers around blockchain adoption, It will also work to improve trust and transparency within business networks, and enable customers to track products through the supply chain on a distributed ledger.