Security, cost, and resource usage are among the biggest struggles companies face in managing their financial operations. Businesses must adhere to the complicated rules, regulations, and systems that govern the movement of money and materials between organizations. Oracle CEO Mark Hurd cites blockchain as a way to mitigate those struggles.
Hurd explains that adopting a cloud-based financial management platform, like Oracle ERP cloud, with built-in blockchain capabilities can be a major help in ensuring fast, secure financial operations. Blockchains offer permanent, immutable records that can eliminate errors, lower costs, and speed up transactions.
Blockchain’s promise is the fact that it can help bring sets of data from different variable applications and [make] it secure.” – Oracle CEO Mark Hurd