In a recent press release from Oracle HQ, the technology company has entered the blockchain market, joining its competitors in the race to a decentralized and secure network.

Many industry leaders able to utilize this new blockchain cloud service have given unique insight into how the platform will streamline certain processes and reduce complexity in complicated software systems.

“Oracle’s blockchain platform has helped us minimize the complexity of electronic fund transfers by reducing cost, increasing efficiency and security levels, and ultimately improving the overall customer experience,” said Ayman Qadoumi, A., Deputy General Manager at Arab Jordan Investment Bank. “The built-in features such as identity management and data encryption made it an ideal choice given our industry requirements and compliance needs. Additionally, the REST APIs helped us and our vendors accelerate application development and integration with existing core services.”

From what it seems, the Oracle blockchain will be a prime option for businesses looking into more secure ways to manage robust data.

“[The Oracle blockchain] is the result of years of research and development alongside our valued partners and customers,” said Amit Zavery, executive vice president, Oracle Cloud Platform. “With Oracle’s platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before.”