►
From YouTube: The Baseline Protocol
Description
See how you can baseline invoices.
Learn how to start baselining your systems of record.
Learn how to make your product baseline compliant.
Discover how to make money -- and save money -- by employing the baseline approach.
Speakers: Rachel Wolfson, Cointelegraph | John Wolpert, ConSensys
B
A
A
I
guess
I
guess
it's
our
it's
our
show
right
now
so
rachel
and
john
wolpert
and
rachel
wolfson.
It's
good
to
see
you
both
of
you.
I
guess
I'm
introducing
us
rachel.
Would
you
like
to
say
a
few
words
about
yourself
I'll,
say
before
that
that
rachel's
been
one
of
the
great
journalists
in
this
space
for
those
of
us
in
the
baseline
protocol?
A
We,
you
know,
we
we've
had
conversations
with
saying
who
do
we
want
to
talk
to
when
when,
when
we
have
news
and
who's
going
to
get
it
right
and
rachel
always
gets
it
right,
doesn't
embellish
doesn't
go
hypey?
We
really
appreciate
the
way
you
you,
you
write
your
stories,
so
maybe
you
can
tell
us
a
few
things
about
yourself
and
then
you
can
talk
and
then
we
can
go
into
the
q.
A.
B
Sure
thanks
john
yeah.
That
means
a
lot
and
just
want
to
say
hi
to
everyone
from
marfa
texas,
where
I
currently
am
right
now
and
yeah.
So
I
am
a
journalist
with
coin
telegraph.
I've
been
writing
about
the
blockchain
and
crypto
space
since
2017
and
I'm
also
part-time
analyst
for
quantum
economics
when
it
comes
to
enterprise
blockchain.
B
A
Thanks
rachel,
I
guess
I'll,
introduce
myself,
I'm
the
the
currently
the
the
technical
steering
committee
chair
for
the
baseline
protocol,
which
is
as
I'll
say,
probably
over
and
over
again
it's
not
a
product.
It's
not
a
platform,
it's
not
a
coin.
It's
not
a
token!
It's
not
a
scheme,
it
is
simply
a
standard
for
how
enterprises
can
use,
can
achieve
verified,
multi-party
workflows
using
a
blockchain
but
really
yeah.
It's
it's
it's
more!
A
It's
more
about
verified,
multi-party
workflows
and
it's
a
standard
that
we're
we're
developing
the
ethereum
foundation
and
the
eea,
and
and
now
dozens
of
other
companies
are
working
together,
including
ernst
young
accenture,
a
number
of
companies,
I'd
love
to
say
the
names
of,
but
I
don't
want
to
get
ahead
of
my
blocking
microsoft
and
notably
a
lot
of
traditional
systems
of
record.
Like
sap,
microsoft
dynamics,
you
know
traditional
database
systems
and
that's
that's
the
work
that
I
do
in
my
day
job
I
work
for
consensus
and
consensus
ag
and
yeah.
A
B
A
Right,
so
I've
got
some
slides
I'll
pop
them
up.
If
I,
if
I
think
I
don't
want
to
make
it
a
slideshow,
but
I
might
have
some
some
graphics
to
throw
up
here
and
there,
the
baseline
protocol
was
conceived
out
of
a
a
realization
that
maybe
the
one
thing
vitalik
said
that
that
we
might
quibble
with
in
his
tenure
in
in
the
ethereum
world,
is
that
it's
the
world
computer,
depending
on
how
you
interpret
that
it
might
not
be
the
right
way
to
think
about
it.
A
A
Just
say
that
you
cannot
have
a
singleton,
be
everybody's
back
end
it'll
blow
up,
even
if
you
don't
have
consensus
involved,
a
consensus
layer,
a
sharded
cassandra
database
is
not
going
to
handle
everybody's
back
end,
so
that
was
never
really
going
to
be
a
thing,
and
also
blockchains
are
not
very
good
at
being
databases,
you
know,
if
you
really
res,
you
know,
there's
a
lot
of
enterprise.
Folks
on
the
call
tell
your
csos
and
your
cios
hey,
we
get
it.
A
It's
not
we're
not
going
to
put
our
corporate
sensitive
corporate
data
on
any
kind
of
blockchain,
and
I
I
was
one
of
the
founders
of
hyperledger
fabric.
I'm
telling
you,
as
as
the
person
that
designed
some
of
that
stuff,
don't
put
your
internal
data
on
a
giant
threat
surface,
where
the
worst
administrator
in
your
consortium
is
going
to
give
you
all
a
bad
day
by
giving
by
by
getting
hacked
and
having
all
everything
you
put
on
there
out
in
the
clear
block
chains
are
very
secure,
especially
public
ones,
at
tamper,
resistance,
they're,
not
terribly
good.
A
So
you
know
if
you've
got
to
think
about
that
they're,
not
magic,
super
secure
databases,
they
are
a
particular
kind
of
animal.
So
if
they're,
not
good
databases-
and
this
is
the
important
realization
that
led
to
the
baseline
protocol-
is
if
they're,
not
good
databases,
what
are
they
good
for?
And
so
you
know,
but
it
won't
work,
but
it
would
if,
but
it
would
work
if
it
was
thought
of
more
as
middleware.
A
That
is,
that
the
a
public,
a
public
good
maintained,
with
supreme
tamper
resistance,
that
is,
that
can't
lock
you
out
of
valid
operations
and
is
always
on
is
a
nice
piece
of
kit
to
have
in
it
when
you're
trying
to
do
cross-company,
workflow
automation,
because
any
distributed
systems
person
would
tell
you
if
you
have
machine
a
and
machine
b,
and
you
need
them
to
be
consistent
about
something
like
a
record
or
a
state,
a
state
change.
You
need
a
common
frame
of
reference.
A
You
either
need
to
have
one
of
them,
primaried
or
or
you
have
to
set
up
another
integration
bus,
that's
going
to
be
the
traffic
cop
for
for
events,
and
you
know
in
our
space
there's
a
lot
of
people
that
talk
about
decentralization.
I
find
sometimes
taught
logically,
it's
like
it's
good,
because
it's
decentralized.
I
don't
really
know
what
that
means.
I
like
the
idea
of
using
a
highly
tamper
resistant,
always-on
state
machine
that
can't
lock
you
out
of
operations
and
get
taken
over
by
somebody
that
doesn't
like
you.
A
If
that's
decentralization,
then
that's
then
I
like
that,
but
I
like
to
break
it
out
right.
I
like
to
say
why.
Why
is
decentralization
important
to
me
in
this
in
this
case,
problem
is,
if
I
use
it
in
any
way
that
that
somebody
with
a
really
good,
artificial
intelligence
could
find
a
way
to
generate
a
classifier
on
me
and
understand
my
activities,
my
relationships.
A
That
would
be
bad
right.
You
know
I'm
pretty
sure
that
a
company
some
company
that
has
invoices
doesn't
want
some
other
company
that
they
compete
with
to
know
about
their
invoices,
not
anything
about
their
invoices.
So
we
a
lot
of
times
people
talk
about
privacy,
confidentiality
or
privacy
on
blockchains,
it's
not
just
privacy.
It's
confidentiality!
Even
the
business
rules.
Writing
a
smart
contract
that
embodies
your
business
logic,
could
be
leaking
valuable
metadata
data
or
just
trace
information
about
your
activities
that
you
don't
want
out.
A
There
don't
use
it
that
way,
use
it
effectively
as
a
bulletin
board
for
proofs
that
you
can
use
if
you're
clever
about
it
as
an
ordering
service
for
your
for
your
traditional
systems
of
record.
So
don't
throw
out
your
sap
system,
don't
throw
out
your
dynamic
system,
don't
throw
out
your
netsuite
system,
you're,
gonna
you're.
What
you're
gonna
do
is
use
some
tricks
and
techniques
that
we're
devising
in
the
baseline
protocol
standards
community
to
and
andy
and
ultimately
a
public
blockchain.
A
Although
you
can,
you
can
sort
of
stand
things
up
and
and
test
them
on
a
private
system
and
then
just
cut
over
to
the
public
as
a
way
of
of
knitting.
These
workflows,
together
in
a
very,
very
secure
integration,
where
no
data
and
no
business
logic
ever
touches
any
system
other
than
one
that
want
the
one
that
you
so
carefully
lock
down.
To
begin
with,
this
is
good
news
for
your
csos.
A
B
Yeah
thanks
john
great
yeah,
that's
a
great
overview.
My
next
question
is:
how
exactly
would
an
enterprise
leverage
this?
How
would
they
leverage
the
baseline
protocol,
for
instance,
I
know
invoices
is
something
that
is
really
important
here.
So
can
we
talk
a
little
bit
about
how
that
you
know
creates
more
efficient
business
processes.
A
Sure
yeah,
I
think
that
the
the
most
most
of
the
time
when
we
talk
about
working
together
across
companies,
we're
worried
about
one
one,
big
thing
and
if
you
talk
to
any
ceo
or
executive
in
any
company
that
I
can
think
of
you
ask
them.
How
much
is
it
costing
you
when
you
work
with
other
companies
for
screw-ups,
either
to
how
many?
How
much?
How
many
screw-ups
do
you
do?
You
have
between
your
companies
that
are
based
on
inconsistent
understanding
of
what
the
information
might
be
right?
I've
got
an
invoice
that
says
100.
A
You
have
an
invoice
that
says
a
thousand.
How
did
that
happen?
I've
got
an
invoice,
I'm
I'm
a
big
retailer
and
I
have
a
delivery
date
of
today.
You
have
a
delivery
date
of
two
weeks
from
now,
when
I
call
you
up
and
and
say
where's
my
shipment,
that
I'm
gonna
put
on
our
shelves
today
and
you
say:
well,
it's
supposed
to
be
there.
A
A
You've
got
surety,
bonds,
you've
got
performance,
bonds,
you've
got
just
keeping
money
in
a
contra
account,
that's
not
being
it's
not
working
for
you,
because
you're
worried
that
you're
going
to
get
you're
going
to
have
to
do
that,
make
good
or
early
or
have
legal
expenses.
This
is
all
to
do
with
inconsistent
information
and
workflows
that
don't
have
integrity
company
to
company
many
companies.
A
A
That's
a
lot.
I
mean
there's
probably
about
10
billion
b2b
events
a
day,
but
you
know
that
are
there
that
matter?
Imagine
the
number
you
know
you
know
if
33
percent
of
them
are
or
33
times
30
times,
50
cents-
that's
a
lot
so
dealing
with
that
is
important
and
we've
been
for
40
years.
I
mean
32
years
of
my
career
and
beyond
that
we've
been
working
on
trying
to
clean
up
our
data
practices
internally,
doing
more
bpm
business
process
management.
That
was
a
pretty
hot
topic
yeah.
A
It
still
is,
but
now
it's
about
cross-company
multi-party,
verified
workflows
and
I
think
that's
a
hopeful
thing,
because
I
don't
know
about
you,
but
when
I'm
my
my
house
is
never
so
clean
is
when
the
neighbors
are
coming
over.
So
we
we
we've,
we've
always
back
burnered
our
data
hygiene
practices
in
many
companies.
Very
few
companies
do
it
well,
none
of
them.
A
So
that's
the
opportunity,
the
the
punch
line
of
all
that
rachel
from
your
into
your
question
is
well.
What
is
what
is
the
most
obvious
result
of
of
these
screw-ups
in
terms
of
financial
risk,
and
that
is
not
getting
paid?
I
got
an
invoice
and
and
that
invoice
is
either
wrong
or
I'll.
Just
stop
sharing
for
a
second
that
you
know
is
either
wrong
or
or
or
I
never
got
the
memo
I
mean,
I'm
I'm
happy
to
pay
the
bill,
but
I
never
saw
it
right.
A
A
But
if
an
invoice
is
a
result
of
a
baseline
workflow,
the
probability
of
getting
paid
goes
way
up,
because
I
I
can
be
sure
that
the
invoice
in
my
database
in
the
invoice
or
the
bill
in
your
database
is
verifiably
identical,
that
nobody
can
say
that
they
didn't
get
the
memo
as
there's
non-repudiation
it
you
know
built
in
and
without
saying
hey.
Let's
all
put
our
data,
our
invoices
and
our
bills
on
this
big
common
shared
database
or
this
common
threat
service,
or
this
blockchain,
no
we're
going
to
keep
it
in
our
systems.
A
We're
going
to
use
the
blockchain
to
and
put
proofs
on
the
blockchain
in
such
a
way
that
it's
very
stealthy
using
zero
knowledge
circuits
so
that
without
anybody
else,
knowing
a
thing
about
what
we're
doing,
and
even
if
they
were
to
find
that
that
hash.
That
proof,
you
know,
basically
the
proof
would
say,
somebody's
agreeing
about
something.
That's
all.
It
would
really
tell
you
so
yeah.
Very
often
people
say
zk
snarks
are
a
way
of
saying
or
zero
knowledge
in
general.
A
I
can
prove
an
attribute
of
myself
without
telling
you
what
my
secret
is.
This
would
be.
We
have
a
secret
collectively,
you
and
me,
and
some
other
set
of
companies
and
we're
going
to
use
this
machine
over
here
to
tell
us
that
we
have
the
same
secret
without
telling
it
anything
about
our
secret
and
doing
it
in
such
a
way
that
anybody
observing
that
machine
wouldn't
even
know
that
we
exist
or
that
we
have
a
secret.
A
That's
baselining
in
a
nutshell,
and
the
result
of
that
is
your
invoice
is
probably
going
to
get
paid.
I
mean
there's
still
reasons
why
it
might
not
get
paid,
but
the
probability
goes
way
up
and
that
generates
a
real
opportunity
for
defy
investment
in
those
invoices.
Right.
Imagine
a
world
where
everybody
can
not
only
invest
in
the
company,
but
actually
you
know,
support
these
cash
flows
and
say
yeah.
You
know.
A
Just
improved
enterprise
phi,
really
I
mean
you
can
start
with.
You
know
you
defy
2,
but
both
defy
and
just
phi
together.
You
can
you've
just
massively
improved
that
to
the
point
where
it's
possible,
that
you
know
just
you
know.
A
number
of
basis
points
over
t-bill
are
is
is
what
somebody
would
have
to
pay
to
get
their
to
get
paid
immediately
upon
delivery
of
a
good
or
service
rather
than
90
days.
From
now.
B
A
Yes,
so
the
the
this
in
the
in
the
case
of
baselining,
unlike
say,
hyperledger
fabric
or
hyperledger
basu,
or
any
of
these
other
open
source
projects.
The
core
of
the
work
is
standards.
We
all
need
to
have
three
pawn
outlets
and
220v
240
volts,
it's
about
agreeing
on
a
set
of
techniques
and
that
can
be
implemented
in
any
number
of
ways.
So
the
standards
team
is
run
by
a
wonderful
person.
A
A
So
if
you
or
your
company
want
to
support
this
work,
get
involved,
get
ahead
of
it
and
make
sure
the
standard
evolves.
In
such
a
way
that
it's
going
to
advantage
your
company,
you
should
be
in
the
room
with
us
and
a
real
easy
way
to
get.
There
is
to
contact
myself
or
you
can
go
to
baseline
protocol.org
and
we
will
give
and
there's
a
number
of
avenues
into
into
the
community
from
there
get
on
our
slack,
which
is
thousands
of
people
on
it.
I
haven't
checked
last.