TOKYO, Sept. 19, 2024 — Earlyworks Co., Ltd. (NASDAQ: ELWS) (“Earlyworks” or the “Company”), a blockchain solution provider headquartered in Taito-ku, Tokyo which develops its proprietary blockchain technology, Grid Ledger System (“GLS”), has signed a business alliance agreement with CAICA DIGITAL Inc. (“CAICA”), a company headquartered in Minato-ku, Tokyo which develops system solutions for the financial industry and Web3 businesses. Together, the Company and CAICA will provide comprehensive support to businesses engaged in Web3 projects.
- Market Potential and Alliance Background
The global blockchain market, a key Web3 technology, is expanding year-on-year and is projected to reach approximately $404.1 billion by 2030 (*1). This market is expected to grow 38-fold between 2023 and 2030 (*1), attracting significant worldwide attention.
Meanwhile, Japan’s blockchain market share was estimated to be around 10% of the global market in 2023 (*2). In Japan, the “Priority Policy Program for Realizing Digital Society,” approved by the Japanese Cabinet in June 2022, includes “Promoting Web3.0”, which encompasses the use of NFTs (non-fungible tokens) based on blockchain technology. The “Web 3.0 Study Group” was established at the Japanese Digital Agency to explore the future use of blockchain. Although the “Web 3.0 Study Group” at the Japanese Digital Agency has been active, the actual business application of blockchain in Japan has not yet significantly increased.
Through this strategic alliance, Earlyworks aims to enhance the services of GLS while supporting the development of new businesses adopting “CAICA Web3 for Biz” (described below), providing robust support to companies promoting their Web3 ventures.
1 Blockchain Market Forecast to 2030 Global Information, Inc. ( )
2 Future Trends of Blockchain Market size forecast by 2028 with AI xenoBrain ()
- About GLS (Grid Ledger System), a proprietary blockchain infrastructure technology
GLS is a hybrid blockchain that combines the advantages of blockchain and database technology. Database technology serves as the foundation for data storage, collection, organization, and processing, enabling system development. GLS boasts high processing power akin to a database, ease of implementation, and high customizability, along with blockchain’s inherent tamper-resistance and convenience.
<Main features of the GLS> high processing speed, parallel processing and auto-scale functions, high tamper-resistance, zero server downtime, versatile applications, enabled emergency stop
- About CAICA DIGITAL
CAICA DIGITAL is a business holding company listed on the Tokyo Stock Exchange Standard Market (Code: 2315). Beyond managing its subsidiaries, the company operates a matching service called “CAICA Web3 For Biz” () to facilitate businesses and projects in establishing Web3 ventures. Leveraging its strengths as a listed company in compliance, its experience in operating cryptocurrency exchanges, selling cryptocurrency derivative products, and having a subsidiary with over 50 years of experience in developing financial systems, CAICA DIGITAL combines cutting-edge blockchain technology with an experienced consulting team. They offer a wide range of services, including NFT sales, Web3 SaaS businesses, payment processing, and large-scale OTC services, quickly and through a one-stop solution.
Company Name: CAICA DIGITAL Co., Ltd.
Representative: President and CEO: Shin Suzuki
Location: Lexington Aoyama, 5-11-9 Minami Aoyama, Minato-ku, Tokyo
Established: July 1989
Business Activities: Management and operation of group companies
Corporate Website:
- About Earlyworks
Earlyworks Co., Ltd. is a Japanese company employing its proprietary private blockchain technology, GLS, to harness blockchain technology in diverse applications across various industries. GLS is a hybrid blockchain that combines the advantages of blockchain and database technology. GLS features high-speed processing, capable of reaching 0.016 seconds per transaction, tamper-resistance, security, zero server downtime, and versatile applications. The applicability of GLS is demonstrated in multiple fields, including real estate, advertising, telecommunications, metaverse, and financial services. The Company’s mission is to continually update GLS and establish it as an infrastructure within the upcoming Web3/metaverse-like data society.
Earlyworks Co., Ltd.
Location: 3F MR Building, 5-7-11 Ueno, Taito-ku, Tokyo
Representative: Satoshi Kobayashi, Representative Director and CEO
Business description: Providing system solutions using GLS
Date of Establishment: May 2018
Corporate website:
For inquiries from the press regarding this matter, please contact Earlyworks Co., Ltd.
E-MAIL:
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 and CAICA’s current expectations and projections about future events that the Company and CAICA believe may affect their 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 and CAICA undertake no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in their expectations, except as may be required by law. Although the Company and CAICA believe that the expectations expressed in these forward-looking statements are reasonable, they cannot assure you that such expectations will turn out to be correct, and the Company and CAICA caution investors that actual results may differ materially from the anticipated results and encourage investors to review other factors that may affect their future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission and in CAICA’s relevant disclosure documents.
Photos accompanying this announcement are available at
