“Provide is contributing to the Baseline Protocol to set a new standard in enterprise synchronization. The release of the Baseledger testnet and core bits of the Provide software stack today positions enterprises of all sizes and technological capabilities to adopt the standard and apply it to their own systems and processes. Baseledger adds additional security to the Provide stack to enable a novel zk-zk rollup implementation, which is critical for scaling enterprise DeFi and building new baselined fintech products and services,” said Kyle Thomas, CEO of Provide.

Provide open-sourced key components required for baseline-compliant systems integration, including Ident, NChain, Privacy and Vault, to coincide with today’s launch of the Baseledger testnet. This release, which is now available on GitHub, allows developers to quickly synchronize databases, ERP, CRM, accounting, compliance and other information management systems across any set of companies. The testnet will operate for several months leading up to the launch of the production network, which will be powered by $UBT.

John Wolpert, ConsenSys product executive and chair of the Baseline Protocol technical steering committee said, “One of the most important things about open standards and open source is that they help prevent vendor lock-in and lower costs for businesses. But all projects like this require reliable, affordable, and straightforward tools in order to achieve wide adoption. The Baseledger network and the Provide platform are the first to make the benefits of baselining accessible to everyone.”

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Marten Jung, CEO of Unibright, added, “With Baseledger we provide the missing link for enterprises aiming for a productive deployment of the Baseline Protocol across a variety of business cases at enterprise scale, powered by an incentivized ecosystem based on $UBT. Baseledger empowers enterprises to overcome restrictions of current public ledgers in terms of transaction costs, performance, compliance, integration and coordination”.

Companies are already starting to use the Baseline Protocol to reduce fraud and disputes, ensure regulatory and tax compliance, synchronize accounts payable, and get access to more favorable financing terms from both traditional and DeFi sources.

Andrei Semonov, Director of Innovation at Coke One North America (CONA) said, “CONA has been working with Provide and Unibright for the past year on the Baseline Protocol. I am excited to see progress on Baseledger and to be one of the first node operators on the testnet.”

ServiceNow, a leading cloud platform that helps companies deliver digital workflows in enterprise operations, has also been working with Provide over the last year. “I am convinced that the Provide technology is able to support many ServiceNow use cases that require business process synchronization and baselining. This enables our customers with the ability to scale integrations across their business networks while effectively addressing enterprise security requirements,” said Nicola Attico, Senior Advisory Consultant at ServiceNow.