Less than 2 weeks ago I was pointing to a patent filed by Oracle, in which the database giant was mentioning Tendermint (a consensus engine based on Byzantine Fault Tolerance algorithm) more than 30 times. Patents and blockchain don't go well together, I was writing at that time, a stance to which I'm constantly faithful.
Today it's official, Oracle launched itself as a cloud-based blockchain provider, trying to get a share of a pie which was consumed until now by Microsoft (with Azure) and IBM. The company will provide the service to companies who want to test and deploy their blockchain based applications.
It's interesting to see how this technology will play out with the big boys in the tech field. Because I don't think these companies are interested in the decentralized part of it, nor in the liberalization of financial activities, but rather to smaller, unexpected changes that can generate profits. In a short interview given to Coindesk, the VP of Oracle Blockchain Divsion, Frank Xiong, said:
"In traditional computer science, there is just one copy of the database. In blockchain, all of the ledgers are distributed, so actually everybody gets a copy [of the data]. So this is only going to expand that data storage [requirement]."
So, I get it. We, Oracle, are not getting in the decentralized part of it, nor in the revolutionary financial changes, but we will gladly provide you more storage space.
Because if everybody is storing the internet (so to speak) on their own devices, boy, there will be a lot of demand for storage.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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@dragosroua,
I hate this news! Oracle is acquiring open source applications and give us a chance to pay for their licenses! Therefore, this is a bad news for Block Chain industry! After all their big boys as you said!
Cheers~
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Yup. the people who consistently made a lot of money during the various gold rushes were those people selling shovels. ;-)
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Excellent point! :)
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Very interesting. Think Oracle won't want to miss out on a bigger slice of cloud storage pie estimated to grow to USD 94 Billion by 2022 (Business Wire)
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Obviously :)
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Oracle want to control everyone's data and blockchain seems like a threat to them. I've worked a lot with their databases and it's good technology, but blockchain wants to be free. I expect companies want a name they trust behind whatever platforms they use. At least it shows that blockchain is accepted now
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