Baseline Protocol successfully executed a proof of concept in which multiple companies privately and securely synchronized data and managed purchase orders on top of the Ethereum’s main network (ETH).
The concept demonstrates how companies can use the protocol to securely collaborate on the execution of business processes across Ethereum without exposing valuable proprietary data.
The development of the Baseline Protocol was led by ConsenSys, Microsoft and Ernst & Young.
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The Baseline concept promotes the company’s use cases for Ethereum
On May 21, Baseline Protocol published a demonstration detailing „multiple companies digitally managing purchase orders and volume discount agreements through disparate systems“ at Ethereum.
Those interested in the concept used two different enterprise resource planning crypto & taxes 2020, launch a staking network, it went live, compliant with islamic law, crypto-currency act of 2020, the aragon framework, a whopping 112-page order, tassat ceo thomas kim said, a taxable form of property, upheld the ban earlier this month systems – Microsoft Dynamics and SAP, which were able to maintain synchronicity across the block chain „without exposing information about business activities or relationships with competitors or the public. Baseline Protocol is also used to avoid workflow errors and data inconsistencies.
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The development team will conduct an open demonstration of the system on May 27.
Privacy maintained despite data synchronization
The project involved several companies operating within the distributed logbook technology sector, or DLT, including Unibright, Provide, and Envision Blockchain. According to the announcement:
„Unibright extracted the domain model from the Unibright Connector, configured a connection proxy to the Provide/Baseline stack and integrated SAP. Provide adapted the Baseline Protocol as a standard within the Provide stack, including its secure messaging infrastructure service. […] Envision Blockchain configured and integrated the Microsoft Dynamics 365 Finance and Supply Chain Management business applications.
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Alex Tapscott, co-founder of the Blockchain Research Institute, said: „The Baseline approach is a windfall for global companies looking to boost safety and performance. Data is secured, contracts are digitally governed, and companies can collaborate seamlessly without changing their current systems.
„This will change the way businesses interact in a digital environment,“ he added.