We will now see HYDROGEN, a developer of ethereum-based enterprise blockchains in the Cloud Marketplace. The credit goes to the Software giant Oracle. This announcement was made on Wednesday.
For half a million Oracle customers, Hydrogen will be providing its APIs to develop applications for banking purposes. These purposes include – savings, insurance, investing and wellness. This new move by Oracle is initiated because the Oracle Cloud marketplace is one of the leading providers of PaaS and IaaS tech. But for vendors to get the access they must first pass vetting by Oracle.
Scott Raspa, Hydrogen’s Director of Growth did say that his startup – CoinDesk is currently distinguishing its product from others. In the past, subscribers could build multiple systems using the firm’s APIs. That includes the Hydrogen Molecule product, which is now undergoing the beta test. This is said to be used for customer identification, tokenization, cross-border money transfer and more.
On top of the Hydro the molecule is built and in turn, is built on top of ethereum. This will be simplifying the creation of lending and financial services which run on blockchains. This is known as decentralized finance or DeFi.