Arcology Founder Laurent Zhang Previews Breakthrough Blockchain Technology Platform

- June 25th, 2019

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE: CODE, FSE: C5B, OTCQB: BKLLF), an investment company is providing an update on its portfolio holding Arcology and the development of its next generation enterprise blockchain technology.

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE: CODE, FSE: C5B, OTCQB: BKLLF), an investment company is providing an update on its portfolio holding Arcology and the development of its next generation enterprise blockchain technology.

Arcology is entering an extensive testing period of the technology that has been developed over the past year and half since the initial investment from Codebase. The technology has been developed through a disciplined roadmap and is poised to benefit from a renewed interest in blockchain technologies due to the recent increase in value of Bitcoin and Facebook’s plans with its own cryptocurrency, Libra.

Arcology Founder and President, Mr. Laurent Zhang, has invented a radically new way of looking at blockchain. Leveraging his experience with machine learning, artificial intelligence and big data algorithmic analysis, he is creating a new hierarchical structure that is self-organizing and self-repairing.

“For widespread applications ultimately, blockchain technology will be measured in transactions per second,” explained Mr. Zhang. “Financial institutions require a standard of approximately 250,000 transactions per second; we see that as a key figure, measuring system power and representing a real-world target for our new blockchain technology.”

Over the past year, Mr. Zhang and his team have advanced the Arcology technology, addressing a critical need – the ability to move beyond sequential ordering for the processing of transactions to parallel processing. Other blockchain technologies process individual transactions, one by one – Arcology uses parallel processing, meaning that thousands of transactions are processed in batches at a time in a distributed, network wide system to achieve the system power required to deliver the rate of transactions per second for real world applications.

“For servers having multiple cores, serial processing means only one core can work at a time, other processing cores simply stay idle, it is a huge waste of computation power,” explained Mr. Zhang. “The problem is understood throughout the blockchain industry and it is recognized that parallel processing is the only answer to the problem. However, the biggest obstacle hindering parallel processing is avoiding potential conflicts among these transactions.”

“This becomes even more complicated when dealing with smart contracts, whose internal processing logic is pretty much unpredictable before execution,” added Mr. Zhang. “The Arcology team has developed an effective solution to solve this critical problem. Arcology transactions are processed in fully parallel mode, any conflicts will be detected and caught real time including the execution of smart contracts.”

In addition to founding Arcology, Mr. Zhang’s experience includes:

Chief Technology Officer, HPIS Technologies
Research Scientist, Baker Hughes Inc.
University of Alberta Research Engineer
M.Sc. in Intelligent Systems, University of Sunderland, UK
B.Sc. Honour’s in Computing, Oxford Brookes University, UK
About Codebase Ventures Inc.

Codebase Ventures Inc. is a small, hands-on team of financial and technology experts who invest early in great ideas. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms and protocols, not just products. We invest early, support our founders, take their ideas to market and work tirelessly to help them realize their vision.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Brian Keane, Director
Investor Relations
Telephone: 1 (778) 806-5150 – TOLL FREE (877) 806-CODE (2633)
E-mail: IR@codebase.ventures

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

 

Click here to connect with Codebase Ventures (CSE:CODE; FWB:C5B; OTC:BKLLF) for an Investor Presentation.

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