Oracle will launch its Blockchain platform this month according to report

Software giant Oracle is ready to publicly launch its blockchain-as-a-service platform, according to a Bloomberg report.

It is said that the California-based multinational will launch the platform this month, and applications based on distributed LED technology (DLT) will follow in June, the news source said, quoting Oracle's product development chairman, Thomas Kurian.

Oracle first introduced the enterprise-class blockchain cloud platform in October 2017, saying at the time that it is considering technology as a way to extend and optimize its existing cloud services.

Frank Xiong, Oracle's group vice president of Blockchain Cloud Service, said in the initial presentation that the firm aims to attract large and small firms, with prices based on the volume of transactions.

He added:

"This blockchain platform will give customers a platform to extend their services beyond their business package, which means they can extend them to their business partners, benefit customers, etc."

The decision comes after other large companies have launched similar products, especially, perhaps, Microsoft and IBM. China has also seen a lot of business launches like JD.com. Baidu and Huawei.

Among other existing blockchain projects, Bloomberg cites Kurian saying Oracle is already working with commercial bank Banco de Chile to register interbank payments using a Hyperledger platform, a consortium it joined in August 2017.