Universal Verified State Synchronization & Multiparty Coordination Using Zero Knowledge
concircle is participating in various collaborations and developments around blockchain-as-a-service solutions. The backbone of most of these projects is the baseline protocol, which was announced by EY and ConsenSys in March of 2019 in collaboration with Microsoft as an open-source initiative.
The Baseline Protocol is a framework that enables enterprises to synchronize complex, multiparty, business processes with privacy and without moving data from systems of record.
Zero-Knowledge circuits employ a common frame of reference that allows all parties in a networked business process to maintain their own systems of record in a verified state of consistency.
The Baseline Protocol is the emerging standard for synchronizing state across different systems of record over the internet, using a public blockchain as a common frame of reference. This applies to traditional corporate systems of record, any kind of database or state machine, and even different blockchains or DLTs. It is particularly promising as a way to reduce capital expense and other overheads while increasing operational integrity when automating business processes across multiple companies.
The approach is designed to appeal to security and performance-minded technology officers.
The idea of Baseline Protocol
- It creates the opportunity for compelling enterprise blockchain solutions by addressing core demands for enterprises looking to use blockchain technology: privacy, permission, and performance.
- It combines the advantages of public and private blockchains while mitigating their respective drawbacks.
Our partner Unibright
Our partner Unibright is among the founding members of the Baseline Technical Steering Committee and has played a significant role in the design and architecture of the Baseline Protocol and production-ready reference implementation while also serving the community in leadership and governance roles.
The Baseline Protocol is an approach to using a public blockchain (i.e., a mainnet) as the common frame of reference between disparate distributed systems, including traditional corporate systems of record, databases, state machines or even different blockchains. Baseline is a particularly promising way to reduce capital expenses and other overhead while increasing operational integrity when automating interorganizational business processes and data sharing.
The Baseline Protocol enables confidential and complex collaboration between enterprises without sharing sensitive data on-chain. It enables the execution of workflow business logic under zero knowledge. It supports tokenization and DeFi while leaving enterprise data safely in traditional systems with zero impact on end-users.
Participants in a business process, such as subsidiaries or business partners (like subcontractors) collaborate under various agreements but may struggle to verify or reconcile those agreements — in other words, to trust that terms and conditions that have already been agreed upon are actually followed. Baseline enables trust among organizations that otherwise have no reason to trust one another by using a public blockchain to store relevant proofs while leaving sensitive business data off-chain.
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IT Project Manager
Do you have questions about this solution, please contact me for a non-binding discussion!
+43 676 6035002