Arcology Announces February Release Date for First Software Development Kit

This important milestone is first step to creating a community of engineers who will build commercial applications on Arcology's enterprise blockchain

Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is proud to announce that the Company's investee company, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, is preparing to release the first version of its software development kit ("SDK

During an executive call last week, Arcology Founder and CEO Laurent Zhang informed the Board that his team is planning to release their SDK before the end of February, 2021.

A software development kit is a collection of tools designed to help engineers and software developers access a specific platform, application or operating system. Arcology's SDK will help outside developers move their Ethereum applications over to Arcology, where they are expected to see improved performance in speed and scale.

"As 2020 comes to a close, we're thrilled to say it has been a very productive year," says Mr. Zhang. "On December 2nd, we announced the successful completion of Arcology Testnet 1.0. Our next step toward public release is onboarding software developers who can confirm our performance estimates against the market leader, Ethereum."

In the past month, Arcology's network achieved very high results, with 33,602 transactions per second (TPS) running complex smart contracts on a cluster of commodity computers. The network has withstood a very high workload for a prolonged period of time, confirming Mr. Zhang's forecast of a dependable, stable network.

"Releasing this software development kit will be the foundation of an active, engaged developer community," says Mr. Zhang.

Arcology's working roadmap has been updated to include the release of the SDK.

Arcology Working Roadmap Sequence:

• Current Phase: addressing results from Testnet 1.0, refining technical components to improve performance data
• Release Software Development Kit
• Conduct Testnet 2.0 - focus on stability, user experience and verification
• Potential Coin Offering
• Conduct Full Scale Testnet
• Release Mainnet

Arcology's landscape consists of two independent and standalone platforms named Arcology Network (public) and Arcology Enterprise (private), which based on the same technology core. Arcology Network is a permission-less platform like Bitcoin or Ethereum, while Arcology Enterprise is targeting enterprise users requiring specific privacy features.

Code currently holds a 30% interest in the private company that is developing Arcology, with an option to increase its interest to 51%.

For more information on Arcology, please visit the website at https://arcology.network/

About Codebase Ventures Inc.

Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow's standards. We support those innovators and help take their ideas to market.

For further information, please contact:

George Tsafalas - Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures

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.

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.

SOURCE: Codebase Ventures Inc.