Earlyworks Co., Ltd. Launches Phase 1 of SDK Package for Grid Ledger System

Rhea-AI Summary

Earlyworks Co., Ltd. has launched Phase 1 of its System Development Kit (SDK) package for its proprietary private blockchain technology, Grid Ledger System (GLS). The SDK Phase 1 is designed for corporate clients and offers high processing speed, user-friendliness for engineers, a control system similar to conventional databases, an optimized fee structure, and reduced implementation costs. It is expected to be applied in various systems such as carbon offset credit transactions, brand-name authenticity, logistics management with RFID, contract management, NFT advertisement delivery, and transportation payment.

Positive

• SDK Phase 1 offers high processing speed and user-friendliness, making it attractive to corporate clients.
• The control system of SDK Phase 1 is similar to conventional databases, providing familiarity to engineers.
• The optimized fee structure of GLS sets it apart from other blockchain systems.
• SDK Phase 1 is expected to be applied in a wide range of systems, including carbon offset credit transactions, brand-name authenticity, logistics management with RFID, contract management, NFT advertisement delivery, and transportation payment.

Negative

• None.

Tokyo, Japan, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Earlyworks Co., Ltd. (Nasdaq: ELWS) (the “Company” or “Earlyworks”), a Japanese company operating its proprietary private blockchain technology, Grid Ledger System (“GLS”), today announced that Phase 1 of the System Development Kit (“SDK”) package for GLS (“SDK Phase 1”) has been launched after a year of development.

Designed to serve corporate clients, SDK Phase 1 features the following characteristics:

• Innovative blockchain service to clients who require high processing speed.
• High compatibility and user-friendliness to engineers, with easier installation and maintenance for GLS.
• User-friendly control system with similar kill switch and data determinism to conventional databases.
• Optimized fee structure setting GLS apart from conventional blockchain systems.
• Reduced implementation costs.
  

With the characteristics above, SDK Phase 1 is expected to be applied in a wide range of systems, including:

• Carbon offset credit transaction system.
• Brand-name authenticity system.
• Logistics management system with RFID (Radio Frequency Identification).
• Contract management system for individual contracts.
• NFT advertisement delivery system for members.
• Transportation payment system.

Mr. Satoshi Kobayashi, the Chief Executive Officer and Representative Director of Earlyworks commented, “We are happy to announce the launch of SDK Phase 1 today. As a blockchain service provider, our success depends on our ability to apply our GLS in new products and services in ways that address current and anticipated client requirements, industry needs and future trends. Therefore, we believe the launch of SDK Phase 1 is a remarkable step toward our success.

Mr. Satoshi Kobayashi continued, “A number of major Japanese companies have expressed their interest in our SDK Phase 1, and we have been actively engaged in discussions with some of them since our announcement of SDK Phase 1 development. Following the launch of SDK Phase 1, we expect to make progress in our business negotiations with those potential clients. We look forward to announcing new business partnerships with them in the near future.”

About Earlyworks Co., Ltd.
Earlyworks Co., Ltd. is a Japanese company operating its proprietary private blockchain technology, GLS, to leverage blockchain technology in various applications in a wide range of industries. GLS is a hybrid blockchain that combines the technical advantages of blockchain and database technology. GLS features high-speed processing, which can reach 0.016 seconds per transaction, tamper-resistance, security, zero server downtime, and versatile applications. The applicability of GLS is verified in multiple domains, including real estate, advertising, telecommunications, metaverse, and financial services. The Company’s mission is to keep updating GLS and make it an infrastructure in the coming Web3/metaverse-like data society. For more information, please visit the Company’s website: https://ir.e-arly.works/.

Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

Earlyworks Co., Ltd.
Investor Relations Department
Email: ir@e-arly.works

Ascent Investor Relations LLC
Tina Xiao
Phone: +1 646-932-7242
Email: investors@ascent-ir.com

FAQ

What is the company that launched the SDK Phase 1?

The company that launched the SDK Phase 1 is Earlyworks Co., Ltd.

What is the purpose of the SDK Phase 1?

The SDK Phase 1 is designed to serve corporate clients and provide innovative blockchain services with high processing speed and user-friendliness.

What are the characteristics of SDK Phase 1?

The characteristics of SDK Phase 1 include high compatibility and user-friendliness for engineers, a user-friendly control system similar to conventional databases, an optimized fee structure, and reduced implementation costs.

What systems can SDK Phase 1 be applied to?

SDK Phase 1 can be applied to various systems such as carbon offset credit transactions, brand-name authenticity, logistics management with RFID, contract management, NFT advertisement delivery, and transportation payment.

Who is the CEO of Earlyworks?

The CEO of Earlyworks is Mr. Satoshi Kobayashi.

What are the potential business partnerships mentioned?

The press release mentions that Earlyworks has been engaged in discussions with major Japanese companies regarding SDK Phase 1, and they expect to make progress in their business negotiations and announce new partnerships in the near future.