The Baseline Protocol has successfully executed a proof-of-concept where multiple companies privately and securely synchronized data and managed purchase orders on top of the Ethereum (ETH) mainnet.
It demonstrated how enterprises could use Baseline protocol to securely collaborate in executing business processes over Ethereum without exposing valuable proprietary data.
The development of Baseline Protocol was led by ConsenSys, Microsoft, and Ernst & Young.
“multiple companies digitally managing purchase orders and volume discount agreements across disparate systems”
The concept’s stakeholders used two different Enterprise Resource Planning (ERP) systems:
- Microsoft Dynamics
Through which it was able to maintain synchronicity via blockchain “without exposing information about business activities or relationships to competitors or the public.”
The Baseline Protocol is also employed to prevent workflow errors and data inconsistencies. The development team will host an open walk-through of the system on May 27.
The project saw participation from several firms operating within the DLT sector including:
- Envision Blockchain
According to the announcement:
“Unibright extracted the domain model from the Unibright connector, set up 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 apps.”
Alex Tapscott, co-founder of the Blockchain Research Institute, stated:
“The Baseline approach is a windfall for global enterprises looking to boost security and performance.
Data is secured, contracts are governed digitally and companies can collaborate seamlessly without changing their current systems. “This will change how enterprises interact in a digital setting” he added.