Quant, a platform that aims to connect the world’s networks to blockchain to distributed ledger technology (DLT) solutions with “just three lines of code,” has reportedly partnered with Oracle (NYSE: ORCL), a leading provider of database software.
The Quant team confirmed that it would be leveraging Oracle Cloud, a solution that aims to make cloud computing fully enterprise-grade while supporting public and private options.
Quant says it will use Oracle Cloud to run mission critical business applications on interoperable DLTs that will be powered by Overledger, which connects global networks to blockchain-based platforms.
Gilbert Verdian, CEO at Quant Network, stated:
“Quant helps Oracle’s customer banks by providing a single API to all supported blockchains to power interoperability across platforms. Giving clients choice and flexibility to freely use any blockchain technology and go cross-platform with only three lines of code.”
“Clients gain benefits of market access, new products and revenue streams without the challenges of managing complex underlying blockchain technology stacks.”
As explained on Oracle’s official website:
“Oracle Cloud, combined with Oracle Banking Open APIs, provides an ecosystem and platform to help drive innovation, deploying open banking principles and regulation.”
Banking institutions may deploy an extensive set of APIs that aim to cover all areas across the banking lifecycle.
Oracle Fintech Innovation combines the Fortune 500 company’s financial services industry and technology expertise with a network of “curated” Fintechs.
Oracle notes that these Fintechs have joined Oracle for its start-up programs or the Oracle Partner Network which will help with supporting their growth.