Provide and Unibright today announced a joint venture, operating under Provide, that aims to unify the technology enterprises need to safely synchronize data and business logic between companies using the Baseline Protocol, an OASIS open source initiative, on the Ethereum Mainnet.
The two companies have collaborated closely for nearly a year and are members of the Project Governance Board and Technical Steering Committee of the Baseline Protocol, initially creating the SAP-Microsoft Dynamics Business Process Automation POC in May. Working on the Baseline Protocol developed into a string of productive joint customer engagements, including baselining the North America Coca-Cola Bottling Supply Chain announced in August.
Kyle Thomas, CEO of Provide said:
“The Baseline Protocol is the lynchpin that will facilitate the age of corporate data sharing. The ability to seamlessly coordinate business processes such as purchasing and supply chain movements between trading partners is a game changer for global business. Provide and Unibright joined the Baseline community with the pieces of the puzzle needed to make baselining easy to adopt without impacting existing enterprise users. We are now putting those pieces together permanently in a unified, end-to-end Baseline as a Service offering.”
Stefan Schmidt, CTO of Unibright added:
“Consolidating the tech-stacks of Unibright and Provide, resulting in merging the Unibright Framework with the Provide stack leads to a complete customer integration experience implementing the Baseline pattern: visual definition of use cases, code-generated APIs and integration tools, automated container setup, identity management and a seamless integration of enterprise-friendly payment and procurement services. What belongs together now grows together, and we are very excited for the next months and years.”
The Winning Baseline Stack
The new Baseline as a Service offering permanently aligns numerous open- and closed-source projects to deliver full integration lifecycle support including design, development, deployment and reporting.
Unibright provides traditional enterprise consulting services at the outset of new customer engagements to understand the business process and domain model. The visually-designed domain model can then be connected to code-generated smart contract oracles and zero-knowledge circuits, again using the Framework to visually define and integrate the complete business process. Shuttle then enables streamlined deployment of Provide’s core application containers, which implement the Baseline protocol, to customer-owned infrastructure (i.e., Docker or a Kubernetes cluster) running in their AWS or Azure account.
Enterprise DeFi, Freequity and Baseline
Under the terms of the agreement, Provide and Unibright will continue to collaborate by adding capabilities to the unified stack through their continued support of the Baseline Protocol and joint support of a growing number of enterprise customers. Unibright will continue to provide consulting and implementation services to customer projects to help organizations baseline their businesses processes. Additionally, Unibright will continue to offer their programmable DeFi and 360° tokenization solution Freequity.
Last month, Provide, Unibright, Chainlink and Between kicked off an invoice tokenization and factoring project within the Baseline roadmap, aimed at bringing the benefits of the Baseline Protocol to decentralized finance (DeFi). This project is meant to be particularly groundbreaking in terms of bringing DeFi into mainstream corporate culture. It will allow invoices to be tokenized, assigned a risk-adjusted value under zero-knowledge and then factored.
Universal Business Token (UBT) and Provide Payments
Provide has been working with Unibright to extend the UBT token model for the upcoming launch of Provide Payments, where UBT will be used to provide liquidity for its managed transaction service. This service will initially support paying gas fees for arbitrary transactions broadcast to a public blockchain network (i.e., Ethereum). Customers will be billed in arrears based on transaction volume.
UBT is still required to use the Framework as before. Provide will also begin accepting UBT for certain products in the coming months. Provide Payments enables traditional enterprise procurement of public blockchain services without the need for customers to ever buy or hold cryptocurrency. The updated UBT token model in the scope of Provide and Unibright can be found here.
Marten Jung, CEO of Unibright said:
“This game-changing joint-venture adds huge value to the enterprise blockchain ecosystem, and to the utility of UBT. For all existing and future customers, this combined offering paves the way to blockchain-based corporate data sharing. We are creating a turnkey experience with our unified product stack and are enabling enterprise adoption of public blockchain with the UBT utility token.”
- Open source proof of concept shows how to privately and securely synchronize data and business logic between companies, using the Ethereum Mainnet
- Baseline Protocol Achieves Key Milestone with Release of v0.1 Implementation for Enterprise IT and the Ethereum Public Blockchain
- UBT confirmed for Coinbase Custody - Deepening Partnership with Provide to enable the Universal Business Token
- Baseline in DeFi: Invoice Tokenization and Factoring
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