Mar 4, 2020 ⋅ 2 min read
ConsenSys and Ernst & Young (EY) announced the two firms are developing a new Ethereum-based protocol, dubbed Baseline Protocol, in collaboration with Microsoft. Baseline aims to help enterprises coordinate their large scale enterprise resource planning (ERP) and customer relationship management (CRM) systems using Ethereum. In this case, Ethereum acts more like a middleware messaging platform “connecting distributed systems and interfaces,” as described by John Wolpert, head of Web3Studio at ConsenSys. As a first use case, Baseline intends to revamp the procure-to-pay process by tokenizing purchase orders, and the business logic attached to them, which might be able to simplify how companies verify purchase orders.
The teams behind Baseline plan to release its code later this month. The project has also already started to form a technical steering committee (TSC) to advise its development. This committee currently consists of more than a dozen companies, including Splunk, MakerDAO, Chainlink, and AMD, among others, in addition to ConsenSys, EY, and Microsoft.
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