Earlyworks Co Inks MoU with PTW-V To Leverage Blockchain Tech By CIOTechOutlook Team

Earlyworks Co Inks MoU with PTW-V To Leverage Blockchain Tech

CIOTechOutlook Team | Tuesday, 21 November 2023, 02:45 IST

Earlyworks Co., Ltd., a Japanese company that operates its proprietary private blockchain technology, Grid Ledger System ("GLS"), announced a memorandum of understanding ("MOU") with Pole to Win Vietnam ("PTW-V"), a quality verification provider, to form a business alliance (the "Alliance") to expand both parties' businesses through the use of GLS and blockchain-related technology.

PTW-V is an affiliate of Pole to Win Corporation, a provider of quality assurance debug testing, software quality testing, online support services, and testing services for products using blockchain technology comparable to Japanese third-party system verification. The Alliance aims to enhance the quality standards within the blockchain area for Web 3.0 businesses and startups, as per business wire.

The Alliance is a critical component of Earlyworks' overall goal to bring GLS into new sectors and increase its range of uses. According to the MOU, Earlyworks and PTW-V will collaborate to do code inspection and testing of product behavior utilizing blockchain technology, as well as provide third-party verification of systems for faults. Both parties want to generate and distribute third-party assessment certificates.

The Alliance is planned to provide a low-cost blockchain verification solution to the Web 3.0 sector. Due to the intricacy of the system, system failures in blockchain technology have happened all over the world, however there are few verification service providers with substantial expertise in designing and validating blockchain. As a result, many blockchain organizations conduct their own in-house verification, putting strain on development resources and incurring relatively expensive expenses, impeding the expansion of Web 3.0 enterprises and startups.