I'm sure it will stop horizontal moisture penetration at the cold joint between the strip footing and wall. But I think we have a bigger concern than a bit of water penetrating at that location. Donââ¬â¢t get me wrong, Iââ¬â¢m not saying the gasket is ââ¬Ëwrongââ¬â¢ Iââ¬â¢m saying that we have lost the common reasoning to make this thing work, the macro perspective. The macro view point is really simple in my mind, build a box underground and keep it dry. You can call it what you like, a daylight basement, walk out basement, crawl space, cellar or whatever; itââ¬â¢s still a box in the ground. Outside of the structural requirements, we want it dry. which btw seem to confuse a lot of builders, The box is subjected to hydraulic forces from all five sides, water running downhill, uphill and through vapor diffusion. So, how do we keep the box dry? Ideally, Iââ¬â¢d like to put a really big diaper around the thing and call it a day. But the process wonââ¬â¢t allow me. I start by ââ¬Ëwaterproofingââ¬â¢ the sides of the box with a peel and stick membrane that runs 4ââ¬