Microsoft, ConsenSys, and EY Build Enterprise Protocol for DeFi Services in Ethereum Ecosystem
The Baseline Protocol will allow corporate users to access decentralized finance (DeFi) services on the Ethereum blockchain without the need to disclose their private data.
ConsenSys explained that systems like ERP and CRM have difficulty synchronizing data with their peers. Blockchain is a potential solution to this problem, but many companies do not want to take the risks of revealing business secrets to other network participants - potential competitors.
Baseline Protocol will allow isolating data from other participants in the system, to which, under certain circumstances, such data may be provided. To do this, developers use digital signatures, a zero-disclosure evidence algorithm, and other technologies. Thus, various teams will gain access to the information necessary at the current stage of work, however, all other information will be hidden from them.
The ultimate goal of the project is to improve the quality of products of enterprise systems suppliers, developers of individual solutions and cloud providers. The code will be made publicly available through the non-profit OASIS standardization organization.
To date, work has been completed in three quarters. The project also includes Core Convergence, Duke University, Envision Blockchain, Neocava Splunk, HniBright, Provide and W3BCLOUD.
Pi Capital Union