Oracle Magazine, Nov/Dec 2017
ORACLE MAGAZINE NOVEMBER DECEMBER 2017 34 project the type of transaction specifies which entities need to validate the transaction as well as how many validations are required to achieve consensus The process typically requires only a subset of the organizations participating in the blockchain but a sufficient number to satisfy the corroborations stipulated by the parties This eliminates the need for every organization to ratify every transaction as is done in many other blockchain technologies Once a transaction has been validated it is submitted to the ordering service that serializes the transactions and places them into a block linked to the previous block via a cryptographic hash The transactions include not only what information was updated but also the signature of the submitter of the transaction and the signatures of all entities that validated the transaction Blockchain can manage common transactions such as payment records safety inspections building permits mortgage and loan records purchase orders and invoices Members of a given supply chain can also use blockchain to manage their interactions with the various participants of the supply chain For example a food retailer can use it to check the provenance of its meats and even see government inspection certificates And the retailer meat processor and original seller can exchange fiduciary documents validate shipments and reconcile orders and invoices all without needing a bank or other third party to validate these transactions Rakhmilevich noted that Oracle provides its cloud service as a managed PaaS so that customers dont have to stand up new instances for every use case In this preassembled service all needed components have been provisioned he said Chatbots That Know More Chatbots are another technology underpinned by Oracles AI technology These seemingly human agents interact with people both consumers and employees like extremely knowledgeable staff members In large part because they are animated by AI rather than strict business rules they can understand context and learn from experience For example chatbots built using Oracle Mobile Cloud Enterprise can infer earlier parts of a buyer seller conversation so that consumers dont have to reiterate or contextualize their queries Integrated APIs such as a recommen
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