Blockchain technology has the potential to enhance supply chains and making them more transparent. In the case of ensuring food safety, this technology would allow better tracking of foods and what they come into contact with because the information cannot be altered. Blocks cannot be changed unless there is a consensus. Transparency in tracking becomes a method of easily identifying unsafe goods to protect consumers.
Blockchain is even used in larger retailers such as Walmart and LVMH, luxury fashion retailer uses blockchain tech as a way to ensure the authenticity of their products.
Oracle NetSuite has announced the release of Oracle Blockchain Cloud. NetSuite’s compatibility with blockchain technology optimizes their current solutions for businesses that have an interest in integrating blockchain but wish to remain NetSuite ERP users.
NetSuite’s easy integration capabilities make it more than easy to work with blockchain. Their customers have been exposed to SuiteCloud Developer Network (SDN), which is comprised of more than 40,000 global organizations and is more than capable to develop blockchain applications that can be tailored to NetSuite customer’s specific business needs and create a record of transactions. The goal is to have a NetSuite compatible solution that can easily integrate systems already in place. With the new blockchain offering, the custom solution will offer ease of onboarding, as well as educating customers on adopting the technology.
NetSuite customers who choose to leverage the new Oracle Blockchain Cloud Service can integrate and experience a wide variety of solutions developed by Oracle partners specifically tailored to support businesses of any size. Additionally, NetSuite SDN partners will also be able to create blockchain applications to meet the needs of NetSuite customers. With this integration, many businesses gain from the innovative digital ledger that will enable new applications from Oracle’s cloud. The Oracle Blockchain Cloud Service is evident of new investments of upcoming technologies that are brought to the NetSuite user base.