SINGAPORE, June 9, 2023 /PRNewswire/ -- Yang Bing, the Chief Executive Officer of OceanBase, attended a panel discussion at ATxSummit in Singapore this week and emphasized the importance of openness, reliability, and accessibility for the future development of the technology industry. OceanBase, an Ant Group company, is a distributed relational database provider that serves over 400 customers worldwide.
During the panel "The Convergence of Technology: Enlarging Our Digital Commons", Yang Bing shared his views on the significance of openness as the foundation of the internet and digital technologies. He noted that, "At Ant Group, we strongly believe that technology will create greater value when it is open." Therefore, OceanBase was transformed into an open-source project, which is the best way to promote technological openness, ensure global knowledge sharing and drive the advancement and innovation of the entire industry.
Furthermore, Yang Bing also highlighted the importance of reliability and accessibility of technologies.
According to Yang Bing, OceanBase is committed to investing in security and reliability, enabling the company to cater to diverse needs across various industries including financial services, telecommunications, energy, transportation, retail, and digital natives, both on-premise and on the cloud. In 2022, OceanBase obtained a System and Organization Controls 2 (SOC2) Type II report issued by Ernst & Young, validating the security capabilities of the database kernel in areas such as access management, security auditing, and encrypted transmission and storage.
Established in 2010, OceanBase is the only native distributed database that topped in global results of both TPC-C and TPC-H benchmark tests. Over the last decade, it has evolved into a general-purpose database that supports the full lifecycle of businesses of varying sizes. Its integrated single-machine distributed architecture and hybrid-cloud compatibility make OceanBase an ideal choice for small and medium-sized enterprises (SMEs) seeking cost-effective database services. Today, SME customers make up 70 percent of OceanBase's total customer base, and this number continues to grow.
Supporting customers in their database modernization journey, OceanBase's business has extended across China, Southeast Asia, and more markets. In the Southeast Asian market, OceanBase serves customers including DANA and GCash, e-wallets in Indonesia and the Philippines respectively. For example, OceanBase helped GCash reduce costs, improve efficiency, and implement financial-grade disaster recovery amid GCash's rapid business growth. Following the migration of business to OceanBase, the required storage space of the GCash's database was reduced by 70% due to OceanBase's high compression ratio. In addition, OceanBase's large cluster mode significantly improves resource utilization, and as a result GCash's database resource cost was reduced by more than 40% on average.
Additionally, OceanBase regularly hosts technical meetups in Singapore and other Southeast Asian countries to help the development of local database technology and engineering community.
Launched in 2010, OceanBase is a distributed relational database. OceanBase's strengths over alternative solutions include strong data consistency, high availability, high performance, cost effectiveness, elastic scalability, and high compatibility with mainstream relational databases. It enables transactions and analytical queries with just one set of data engines, empowering real-time business intelligence. OceanBase was acknowledged as a notable vendor by Forrester in its report "The Translytical Data Platforms Landscape, Q3 2022," published in July, 2022.
To learn more, please visit: https://en.oceanbase.com/