Arcology Successfully Tests Groundbreaking Application of Distributed Databases in Blockchain Environment

- June 27th, 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 results of its recent tests.

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 results of its recent tests. These results support that company’s long-held assumptions about its new and unique approach to data handling, and that it’s possible to build an enterprise blockchain platform that exceeds current technologies in both performance and price.

“Efficient, accurate and trustworthy data storage is central to all blockchain technologies, but even today’s fastest blockchains underperform when compared to centralized systems,” said Laurent Zhang, Arcology’s founder and president. “This is largely due to certain restrictions in data handling. Arcology’s first-of-its-kind architecture breaks down these barriers, allowing us to employ distributed databases to process and store transactions at rates unseen elsewhere.”

The tests prove that:

  • By using Arcology’s revolutionary new architecture, it is possible to eliminate restrictions that once made distributed databases and blockchain technology incompatible;
  • By incorporating a distributed database, Arcology can take advantage of parallel data insertion and querying on multiple databases;
  • By moving to a distributed model, network speed and reliability will increase measurably; and
    Data storage on the Arcology blockchain network will be hundreds of times faster and cheaper.

“Having designed and tested our applied distributed database, we found absolutely no conflicts that will prevent further development,” said Zhang. “We are now prepared to move beyond conventional single database structures to distributed databases, which offer many advantages, including greater speed and reliability. This is critical to bringing Arcology’s unique technology to market as a commercial product.”

Since becoming a Codebase subsidiary, Arcology has consistently delivered new technology that supports Zhang’s vision of an enterprise blockchain that stores data more quickly -and more cheaply – than the industry’s frontrunners. Under his leadership, Arcology’s technical team has built an aggressive product roadmap that calls for public testing to begin in the coming months.

“These results represent a significant milestone achievement for Arcology,” said Zhang. “For an industrial-grade blockchain platform to win mainstream adoption, we must see more than just white papers and slideshows. We must see results in the real world. That’s precisely what Arcology has delivered with these latest tests.”

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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