Provide: Baseline Protocol

Provide has joined the Baseline Protocol as a founding member of the technical steering committee.

Provide: Baseline Protocol

New York, NY, March 4, 2020 — Today, EY, ConsenSys, and Microsoft announced the formation of the Baseline Protocol, 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.Provide joins as a founding organization forming the Baseline Protocol Initiative’s technical steering committee (TSC), including EY, Microsoft, AMD, Splunk, ConsenSys, MakerDAO, Duke University, ChainLink, Unibright, Envision, Neocova, Core Convergence, and W3BCloud. Provide is committed to contributing to the evolving standards of the protocol itself while commercially supporting baselined Shuttle projects, enabling them to operate with continuity and opt-in to protocol upgrades. Read the full press release here.

Why Provide is Investing in the Baseline Protocol

We have seen companies facing various risks which have prevented them from investing in their blockchain destinies—risk of both making poor technology choices that require refactoring later, and risk of slow adoption across their ecosystems which erodes the business benefit of investing in these projects. These risks run parallel to every other major tech turn. And in each case, it took a coordinating standards body to fast-forward adoption. Just as EDI standards helped B2B commerce in the 90s, we expect similar standards to be critical to blockchain fulfilling its promise to be the shared business backbone for the modern internet.

Want to experiment with the Baseline Protocol?

Provide has developed a new blockchain-based integration product called Shuttle using our orchestration and core blockchain APIs, and as of today we have a functional proof of concept which allows new Shuttle projects to be baselined, wherein the registry and shield contracts required by the protocol are deployed to a testnet and each organization seamlessly provisions the requisite protocol microservice containers using their own AWS or Azure credentials. Shuttle is exploring integration partnerships which will allow baselined organizations to "entangle" data from legacy systems within baselined processes using the public blockchain as an always-on middleware.Provide is committed to contributing to the evolving standards of the Baseline Protocol while commercially supporting baselined Shuttle projects, enabling them to operate with continuity and opt-in protocol upgrades. We think this is critical so organizations can start zero-touch experiments in the coming weeks with Baseline while the protocol itself is still being developed.To signup for early access to Shuttle and zero-touch baselining, join the waitlist.

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Provide Partners with Connext to Scale Multichain Ethereum

We have identified an opportunity to reduce the noise circulating throughout the blockchain ecosystem regarding L2 solutions, so enterprises can focus on using DLT and the Baseline Protocol to create transformative enterprise value. That opportunity is to integrate Connext, to which we have been contributing since 2019, with Provide Privacy, to offer a value-added L2 with native support for zero-knowledge proofs and state channels under one unified architecture. Integrating state channels into our Privacy architecture unlocks a number of new use-case permutations and creates unprecedented composability across various liquidity providers, chains and assets.

May 20, 2021