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Oracle Blockchain Platform now available as part of Everledger’s provenance tracking solution

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Oracle OpenWorld Singapore — Oracle’s enterprise-grade blockchain platform is now available as part of Everledger’s blockchain-based solution following a rigorous development and scale evaluation process. As part of this, Everledger, a global emerging technology enterprise leading the way in real-world applications of blockchain, assessed Oracle’s blockchain offering for its ability to provide extended product capabilities to support enhanced customer solutions.

In particular, the alignment will give Everledger users the ability to shadow blockchain transactions into a relational database, making it easier to run analytics on them. This will enable improved decision making, for example, being better able to determine how long it takes to transport gemstones from mine to the wholesaler and the retailer.

A pioneer in digital provenance tracking, Everledger’s blockchain-based platform is trusted by many industries including diamonds, coloured gemstones, fine wine and art. The ability to transparently track the provenance and lifetime journey of assets as they move across global supply chains, is especially critical for high value goods. These industries are susceptible to increased potential for theft, fraud and counterfeit – in the diamond industry alone, fraud events cost the insurance industry millions of dollars a year.

Leanne Kemp, Founder & CEO Everledger says, “With an increasing consumer consciousness and a vocal demand for transparency, our work is focused on engaging entire business ecosystems to provide consumers the ability to make fully informed purchasing decisions. It is thus key for us to enable the ease of systems interaction and provide value add to our customers.

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“The inclusion of Oracle Blockchain Platform in our offering enables us to deploy more innovative products and solutions for our customers globally, in particular with improved time to market for business intelligence reporting solutions. Oracle’s comprehensive enterprise-grade offering will open our customers to realising more from our blockchain-based platform and crystalise value from the data in their own systems.”

Key elements

Some of the new capabilities of Oracle Blockchain Platform are deemed critical by Everledger in the integration of its blockchain-based platform with customers’ existing business and IT systems. As blockchain becomes an important data store in the enterprise, the Oracle Blockchain Platform enables users to capture blockchain transaction history and current state data for analytics as well as integrate it with other data sources.

“Our longstanding goal has been to help customers to manage, protect, analyze and use the world’s data for the benefit of all. Being able to work with innovative companies like Everledger is an amazing opportunity. We look forward to helping both the company itself further its innovations in tracking and tracing the authenticity of some of the world’s most precious items, but also helping those in the ecosystem link key data sources for wider benefit,” said Frank Xiong, group vice president, Blockchain Product Development, Oracle.

The key elements of note include:

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Database access – Data is an integral part of blockchain. With much of the world’s data resident in Oracle systems, the use of Oracle Blockchain Platform to seamlessly link to those repositories will enable these same customers to leverage both their existing data stores and data on the Everledger blockchain.

Analytics – Oracle Blockchain Platform’s ability to connect to the rich histories stored in an organisation’s existing database means that Everledger can seamlessly enable analytics integration for highly visual interactive dashboards and reports.

Monitoring of network health, transaction rates, and other statistics, and other elements of blockchain administration/configuration, are made easier by enhanced REST APIs, which also simplify integration with existing enterprise IT tools.

Out of the box plug and play capabilities from the Oracle Blockchain Platform makes it not only easy for Everledger to get off the ground, but also easier for deployment.

Developer tools – Additionally, the query tools for Oracle Blockchain Platform link into things like smart contract support standard SQL-based ledger queries, enabling organisations to leverage the skill sets their developers already have, thereby reducing the complexity of developing chaincode and boosting performance.

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SOURCE Oracle

Blockchain

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Blockchain

Alpha Sigma Capital Research Releases May Report on ASC AI Index

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Blockchain

Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet

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Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.

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The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.

Source: pymnts.com

The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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