Introducing Baseline Protocol
Today, EY and ConsenSys announced the formation of the Baseline Protocol in collaboration with Microsoft. The Baseline Protocol is an open source initiative that combines advances in cryptography, messaging, and blockchain to deliver secure and private business processes at low cost via the public Ethereum Mainnet. The protocol will enable confidential and complex collaboration between enterprises without leaving any sensitive data on-chain. The work will be governed by the Ethereum-Oasis Project, which is managed by OASIS and funded by the Ethereum Foundation and the Enterprise Ethereum Alliance.
The Baseline Protocol has already brought together more than a dozen companies and organizations that will form its technical steering committee (TSC), including ConsenSys, EY, Microsoft, AMD, ChainLink, Core Convergence, Duke University, Envision Blockchain, MakerDAO, Neocova, Splunk, Unibright, Provide, and W3BCLOUD.
The protocol will support tokenization and decentralized financial services on the Mainnet in a way that doesn’t reveal corporate assets or activities to unauthorized parties, and it leaves enterprise data safely in traditional systems. It’s hoped that the providers of ERP, CRM and other enterprise systems will optimize their products for the protocol over time, but baselining works without requiring any modification to legacy systems.
Its obvious at this point Microsoft is all in on adding production-ready offerings via Microsoft Azure. It's true the future of web technologies will include private blockchains up and down a host of enterprises technology stack. This will also help Ethereum further insert itself into becoming the go to decentralized platform for a dozen of companies in the short term. (on a side note: Looking forward to diving into some Azure certifications this year & going over documentation for this when it comes out.)