Codebase Ventures Increases Equity Stake in Arcology as Framework Tests Exceed Expectations

Codebase Ventures (CSE:CODE; FWB:C5B; OTCQB:BKLLF) today announced it has increased its equity stake in Arcology (https://arcology.network) to 30%, signaling continued commitment to founder Laurent Zhang’s vision for a new enterprise-tech ecosystem.

Arcology is a self-organizing, self-correcting hierarchical blockchain that uses proprietary algorithms, machine learning and artificial intelligence to eliminate inefficiencies that hold back current platforms. It is designed to outperform current market leaders, such as Ethereum and EOS, on key variables including speed, scale and price.

“Laurent Zhang is a true innovator who is uniquely qualified to realize Arcology’s potential,” said Jeff Koyen, Codebase’s Chief Strategy Officer. “We look forward to supporting his team as they begin benchmarking their technology and opening the platform to public review.”

In tests conducted in March, Zhang and his team demonstrated that a single node on the Arcology network can process high volumes of transactions at speeds up to 8 ½ faster than those on the Ethereum Virtual Machine. Utilizing Zhang’s unique self-organizing technology, the network was able to process multiple millions of transactions per second.

“If we expect blockchain technology to become commercial powerhouses, they must begin to look like operating systems, like Windows or Linux, not impenetrable black boxes,” said Zhang. “That’s what we’re building at Arcology — an enterprise platform that’s designed for widespread commercial use.”

Zhang received his M.Sc. in Intelligent Systems from the University of Sunderland in the U.K. and his B.Sc. Honours in Computing from Oxford Brookes University. He is the former Chief Technology Officer at HPIS Technologies; Vice President of Engineering at Quikflo Health; and Research Scientist at Baker Hughes, a GE company. He is supported by senior developers Dr. Dave Xiang, Cody Yang and Grant Zhang.

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.

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; OTCQB:BKLLF) for an Investor Presentation. 

Source: www.accesswire.com