Nigeria Customs adopts Oracle blockchain service to Secure Efficient Transactions

Nigeria Customs Service is among the global early adopters of the Oracle Blockchain Cloud Service which has recently been introduced.

The service allows organizations to easily build blockchain networks to drive more secure and efficient transactions and to track goods through supply chains on a global scale.

“We used Oracle’s blockchain to build a trusted platform for the automation of Customs Excise Trade business processes and procedures,” said Aber T Benjamin, Assistant Comptroller General Modernization, Nigeria Customs Service. “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 percent. This technology helps our organization to build global trust for Nigerian businesses through irrefutable data on goods manufactured in the country.”

Blockchain has the power to fundamentally transform how every industry does business by making interactions more secure, transparent, efficient and cost-effective. Oracle Blockchain Cloud Service provides customers with a development platform to build their own networks, and to quickly integrate with Oracle SaaS and third-party applications they already use, as well as other blockchain networks and Oracle PaaS services.

It also enables users to provision blockchain networks, join other organizations, and deploy and run smart contracts to update and query the ledger. Oracle’s blockchain platform leverages the company’s decades of experience across industries and its extensive partner ecosystem to reliably share and conduct trusted transactions with suppliers, banks, and other trade partners through blockchain.

“Blockchain promises to be one of the most transformative technologies of our generation,” said Amit Zavery, executive vice president, Oracle Cloud Platform. “We are excited to announce the availability of Oracle Blockchain Cloud Service. It is the result of years of R&D alongside our valued partners and customers. With Oracle’s platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before.”

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