2 Oracle Banking Trade Finance Blockchain Adapter
Oracle Banking Trade Finance Blockchain Adapter enables OBTF to interface to blockchain systems facilitating easy transformation of information between traditional applications and blockchain datasets. You can use this adapter with any version of OBTF and information to be transformed can be configured at the Module level of OBTF. Blockchain transactions, generated from or impacting the core banking system, can be queried and viewed from OBTF itself. The adapter allows transformation and processing of information, between OBTF and blockchain systems, with minimal human intervention thereby improving process efficiency, reducing risks and enhancing straight through processing. The adapter can be used not only to interface OBTF to blockchain systems but also any other similar third party applications to interface to blockchain systems.
A blockchain is an append only distributed data store/log, in a peer to peer network, where un-trusted parties come to a consensus on the order of data sets (financial or non-financial data), based on previously agreed upon rules. Block chains can be classified, as public or private and permissioned or unpermissioned, based on the read and write access respectively allowed to the participating entities. Block chains allow an immutable record of transaction log, when multiple parties need shared control of data, without the need to depend on a central trusted authority. Smart contracts allow business logic to be triggered and processed based on pre-defined events mutually agreed upon by the contracting parties.