Jul 272 mins read

EY Collaborates with ConsenSys to Launch Enterprise-Grade Protocol for Accessing DeFi Services

Partnership with ConsenSys leads to the creation of the Baseline Protocol

EY collaborates with ConsenSys to launch enterprise-grade protocol for accessing DeFi services

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International accounting firm EY has partnered with Ethereum blockchain software company ConsenSys to launch an enterprise-grade protocol called the "Baseline Protocol". This protocol allows business customers to access decentralized finance (DeFi) services built on the Ethereum blockchain without disclosing private information, solving data synchronization issues.

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The Baseline Protocol project has received support from 12 other enterprise organizations, including Microsoft, AMD, ChainLink, MakerDAO, and Duke University. The protocol uses the Ethereum main network as a unified reference framework and leverages messaging, digital signatures, zero-knowledge algorithms, and other technologies to create a synchronized public reference framework accessible to all businesses.

Each participating company will only have to bear their own service fees. This protocol provides significant business opportunities for solution providers, enterprise systems suppliers, and cloud service providers.

This collaboration showcases the growing interest in DeFi among large enterprises and the potential for blockchain technology to revolutionize traditional finance industries.

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