Earlyworks, a Tokyo-based blockchain technology provider, has recently announced a strategic partnership with Relic to enhance new business development using Web3 technology. Earlyworks is renowned for its high-speed proprietary blockchain technology, the Grid Ledger System (GLS), which seamlessly integrates the technical advantages of blockchain and database technology.
The partnership aims to combine Earlyworks’ business development assets using cutting-edge Web3 technology with Relic’s expertise in new business development. Together, they will support companies by addressing issues such as brand damage risks, legal and financial risks, and business challenges using Earlyworks’ proprietary blockchain technology and the DUALii incubation partner platform.
The growing global market for blockchain technology is projected to reach £10.6 billion in 2023 and an incredible £404.1 billion in 2030. Meanwhile, the Japanese market is expected to be worth 142.7 billion JPY by 2023, accounting for approximately 10% of the global market size. These figures underscore the potential for growth and innovation within the industry.
With blockchain technology gaining traction globally, the Japanese government has also prioritised the promotion of Web3.0 in its effort to realise a digital society. However, the practical use of blockchain in business has yet to experience significant growth due to technical understanding, resource limitations, and the complexities of business integration.
By partnering with Relic, Earlyworks aims to address these challenges and promote the development of the Japanese blockchain market. Relic, a business co-creation company, brings to the table its expertise in new business development and innovation, having been involved in the development of over 4,000 companies and 20,000 new businesses over the past eight years since its establishment.
Utilising blockchain technology to revolutionise business development, the collaboration promises to offer joint business development support and integrate services and products of both companies. This means that new business development can benefit from high processing power, tamper-resistance, and zero server downtime, all while enjoying flexible involvement schemes and diverse exit strategies through the DUALii platform.
The innovative partnership between Earlyworks and Relic is not just an exciting development for the blockchain industry, but also a promising indication of the future potential that Web3 technology holds for businesses worldwide. By leveraging the strengths of both companies, the alliance is set to play a pivotal role in advancing the adoption and integration of blockchain technology into new business ventures.
In conclusion, the collaboration between Earlyworks and Relic is a testament to the transformative power of Web3 technology in driving new business development. As businesses continue to explore innovative solutions, the partnership is set to provide the necessary expertise and support to navigate the challenges and opportunities presented by blockchain technology.