An African organisation has deployed an early adopter version of a blockchain service.
Nigeria Customs has deployed Oracle Blockchain Cloud Service which allows it to easily build blockchain networks to drive more secure and efficient transactions and to track goods through supply chains on a global scale.
Aber T Benjamin, Assistant Comptroller General Modernisation, Nigeria Customs Service (NCS), said: “We used Oracle’s blockchain to build a trusted platform for the automation of Customs Excise Trade business processes and procedures.
“Using this technology, we found the entire business environment can be migrated to blockchain to automate processes and create transparency and predictability. Once the transition to blockchain is completed, NCS expects revenue growth increase of about 50%.
“This technology helps our organisation to build global trust for Nigerian businesses through irrefutable data on goods manufactured in the country.”
Blockchain has the power to impact almost all industries and has applicability to verticals from transportation, supply chain and logistics, energy, retail and ecommerce, to financial services, telecommunications and public sector.
Organisations are already using Oracle Blockchain Cloud Service to help ease transactions, track goods through supply chains, and reduce costs, including global shipping leaders, multi-national manufacturers, food producers and energy marketplaces.
Click below to share this article