Oracle Ahmed Adly on the Launch of Blockchain Platform as a Service in MENA region
- Abu Dhabi Government researching Blockchain implementation
- KSA great use case for Blockchain would be Sadad government payment system
UNLOCK Blockchain interviewed Ahmed Adly Senior Director, Cloud Computing Leader Oracle MENA. As Adly stated, “We are now providing Blockchain as a Platform service on our cloud using Hyperledger because although Blockchain is an exciting new technology one of the biggest challenges for corporations is the high cost of implementation. With our offering we are lowering the barrier of entry as there is no need for organizations to take on high infrastructure costs and they can scale as they progress.”
One of the biggest Blockchain implementation cases has been in supply chain management. Adly explains, “Blockchain supply chain implementation allows companies to track goods from origin till delivery, authenticates the transaction, and carries out smart reconciliation, saving time for validating and making trade more seamless on the fly securely.”
Another strong implementation for Blockchain has been in the healthcare sector with patient records. Oracle before launching its Blockchain as a Platform service already had clients who were using the platform some in manufacturing industry. Adly believes Blockchain would greatly benefit construction sector, retail and government.
In the MENA region, Adly confirms that Dubai was the first to pilot Blockchain in actual steps through its Governmental Blockchain strategy. He adds, “Abu Dhabi is currently in research and development stages to see how Blockchain can be implemented for security. As for the Kingdom of Saudi Arabia it would be great to see them use Blockchain for the government payment solution SADAD Payment System established by the Saudi Arabian Monetary Agency to be the national Electronic Bill Presentment and Payment service provider for the Kingdom of Saudi Arabia.”
Finally, with Oracle’s new Blockchain as a Platform as a service offering, it is inevitable that more and more companies will start implementing Blockchain solutions because as Adly states, “Instead of taking 6 months to a year to carry out an implementation, enterprises now can use the platform and focus on just building their business processes and we have made that easy with our out of the box adaptor. Today, corporations can securely extend business applications process across transactions with their partner ecosystems.”
By 2027, 10% of GDP will be stored on the Blockchain and $176 billion business value will be added by the blockchain by 2025.