Microsoft, ConsenSys Launch Enterprise Platform on Ethereum Blockchain

EY today announced the launch of the Baseline protocol, a new package of public domain blockchain tools that will allow enterprises to build and deploy procurement and other business processes securely and privately on the public Ethereum blockchain.

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EY developed the Baseline protocol in cooperation with ConsenSys and Microsoft.

Paul Brody, EY

Paul Brody, EY Global Blockchain Leader, says:

The Baseline protocol integrates multiple technologies including zero knowledge proofs, off-chain storage and distributed identity so that enterprises can set up and synchronize processes and agreements using common standards, with full privacy, and without storing sensitive business information on the blockchain itself.

John Wolpert, ConsenSys

John Wolpert, Group Executive for Enterprise Mainnet, ConsenSys, says:

The Baseline protocol supports smart contracts and accepted industry-wide tokenization standards — and in so doing, enables an ecosystem of interoperable business services. Key process outputs like purchase orders and receivables are tokenized and integrated into the decentralized finance (DeFi) ecosystem.

Yorke Rhodes, Microsoft

Yorke Rhodes, Principal Program Manager, Blockchain at Microsoft, says:

The initial release of the Baseline protocol includes the process design and key components to enable volume purchase agreements and lays the groundwork for blockchain applications that link supply chain traceability with commerce and financial services.

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