REDWOOD SHORES, Calif., May 18,
2018 /PRNewswire/ -- In an effort to accelerate
blockchain innovation in Financial Services and other industries,
Oracle recently joined academia and banking industry leaders as
part of the Carolina Fintech Hub (CFH) Generation Blockchain
Challenge to encourage students to develop commercially viable
and cross-industry blockchain applications.
Thirty students from North Carolina State,
University North Carolina Chapel Hill, University North
Carolina Charlotte and the University of South
Carolina worked together with leaders from Bank of America,
Wells Fargo, Ernst & Young, BB&T, Ally Bank, SIA Partners and Oracle Blockchain
Cloud Service implementation partner Aurablocks to solve real-world
industry challenges covering banking, higher education, energy,
healthcare, and real estate. The goal of the challenge was to bring
a single source of truth and trusted transactions to complex
distributed business processes with the usage of blockchain. For
seven weeks, 10 finalist student teams worked with industry mentors
to define, test and implement proof of concepts using beta version
of Oracle Blockchain Cloud Service and Oracle Digital Innovation
Platform for Open Banking.
CFH is an organization focused on accelerating the merging
worlds of financial services and digital technology. The CFH
Challenge culminated at an event hosted in North Carolina on April
20 by AvidXchange Inc., where student teams were
acknowledged by a set of esteemed judges for their innovations and
entrepreneurialism. The winning team, Versity, created a
decentralized student records credentials platform that allows
individuals to validate, store, and share their student records
with employers and educational institutions from anywhere,
anytime.
"This challenge offered students an incredible opportunity to
learn more about blockchain technology and to help them develop
their business and technical skills with the help of their industry
and academic mentors -- and access to Oracle's advanced
enterprise-grade blockchain cloud platform," said Tariq Bokhari, Executive Director of Carolina
Fintech Hub. "The students not only identified problems and created
real, viable solutions but through this process have learned
important skills they can apply to their employment future."
Throughout this challenge, Oracle and AuraBlocks led the
training of more than 200 students in the Carolinas on blockchain
with additional partners including North
Carolina State University, University
of North Carolina at Charlotte and Sia Blocks. Nearly
all of the student teams intend to further hone their projects on
Oracle's platform and develop future companies based on their
innovations. The winning student teams who participated in this
program have the option to join the Oracle Startup for Higher
Education program giving students access to mentorship and other
resources required to further develop their entrepreneurial ideas
into real enterprises.
"Oracle's blockchain platform is built to enable rapid
experimentation and provide enterprise-grade capabilities to
simplify moving POCs and pilots into production," said Sanjay Mathew, senior director, Global Financial
Services Industry, Oracle. "The scope of what the teams designed
and built in seven weeks with this unique collaboration is
impressive, and we look forward to having the teams evolve these
projects into full solutions deployed on Oracle Blockchain Cloud
Service. This could not have happened without the outstanding
participation from motivated students, industry leaders, partners
and academia combined."
About Oracle
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application suites for ERP, HCM and CX, plus best-in-class database
Platform as a Service (PaaS) and Infrastructure as a
Service (IaaS) from data centers throughout the Americas,
Europe and Asia. For more information about Oracle
(NYSE:ORCL), please visit us at oracle.com.
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SOURCE Oracle