- Oracle Blockchain Platform improves speed of track and trace
- Blockchain technologies can serve as potent enablers for Industry4WRD
MIMOS Bhd, Malaysia’s National applied research and development centre under the Ministry of International Trade and Industry (Miti), announced plans to expand its collaboration with Oracle to explore how the government can utilise Blockchain to streamline various processes with the aim of improving the ease of doing business in Malaysia.
Mimos had initially experimented with Open Source Hyperledger and had completed a proof of concept (POC) with respect to traceability of palm oil. Wanting to broaden its experimentation, Mimos approached Oracle for use of the latter’s cloud-based Oracle Blockchain Platform.
The resulting blockchain prototypes in development – in addition to product traceability, which explores how blockchain can help curb any potential food-related crises such as outbreaks and contamination by increasing the visibility and traceability of products in the supply chain – include cashless wallets, power distribution, and transaction origination.
Mimos chief technology officer Thillai Raj (pic, top right) said: “As the nation’s rapid transformation journey advances further into the Fourth Industrial Revolution, blockchain technologies can help drive greater growth in various sectors, and serve as potent enablers for Industry4WRD (the National Policy on Industry 4.0).
“More specifically, we aim to drive change in the manufacturing sector by making the traceability process more transparent and immutable.”
Among the key features of the Oracle Blockchain Platform that drove its selection was its plug and play integration with existing business systems, which simplifies and shortens the set up processes and makes ongoing deployment easier.
Also of key importance was the platform’s enterprise-grade architecture, which ensures the best security, scalability, and performance characteristics…