Company Strengthens Commitment to Arcology's Vision of a Radically New Tech Ecosystem
VANCOUVER, BC / ACCESSWIRE / April 1, 2019 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: 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: [email protected]
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SOURCE: Codebase Ventures Inc.