Cointelegraph Japan: Japanese Company Implements World’s First Token Reward System for Restaurant Reviews
SynchroLife’s major launch last week introducing token rewards into our social restaurant review app has gathered a lot of attention in Japan!
Our CEO and founder interviewed with Cointelegraph Japan and our launch was covered in the Japanese edition of Cointelegraph! We’ve included an English translation of the piece below, or you can read the original Japanese here: https://jp.cointelegraph.com/news/gurmet-sns-app-syncrolife-world-first-implements-token-base-reward-system
SynchroLife is already avaliable for use globally, but with our existing userbase in Japan we plan to grow starting from Asia to around the world!
Cointelegraph Japan — August 2, 2018
Japanese Company Implements World’s First Token Reward System for Restaurant Reviews
GINKAN Inc, the company behind social restaurant review platform SynchroLife which uses blockchain and artificial intelligence to help people discover good restaurants, announced the beta release of their token reward system on August 2, 2018. According to SynchroLife, they are the first company to offer cryptocurrency token rewards for restaurant reviews.
SynchroLife has created a database of user tastes and preferences, and uses artificial intelligence to help each user discover the best restaurants for their tastes. In the newly released version, SynchroLife has now added token rewards and a cryptocurrency wallet to their mobile app. Users can earn tokens (SynchroCoin, SYC) as a reward for posting quality restaurant reviews, adding restaurant information, translating restaurant information, and other content creation. User’s contributions are analyzed with an original algorithm to distribute SYC token rewards to quality posts so that low quality and inappropriate posts are discouraged.
Moving forward, SynchroLife plans to add Ethereum (ETH) and other cryptocurrency compatibility to their wallet. Users will also be able to earn SYC not only for contributing to the SynchroLife platform but also by dining at participating restaurants. SynchroLife is preparing to implement a suite of SYC related services for participating restaurants which will allow users to earn SYC “cashback” when dining at participating restaurants, purchase restaurant dining tickets with SYC, pay for meals with SYC, and other features to build a new token economy between diners, restaurants, and SynchroLife.
First Post-ICO Major Milestone Reached
SynchroLife Limited, based in Hong Kong, held an ICO (Initial Coin Offering) last September 2017. During the ICO they raised 755 ETH. These funds were used for the development and growth of SynchroLife, and allowed for this first major milestone and launch to be reached successfully.
According to the founder and CEO, Tomochika Kamiya, preparing for the ICO last fall they were focusing on the Chinese market and media when the Chinese government announced a ban on ICO projects just one week before their ICO was scheduled to start. Although the project did not raise as much as hoped, they were still able to reach their first major milestone and launch the new SynchroLife platform. ICO projects can be difficult to do in Japan and there are many scam projects. But CEO Tomochika Kamiya looks forward to the growth of SynchroLife and future ICO projects.
Thank you Masae Okada for the great article! The original Japanese article can be read here: https://jp.cointelegraph.com/news/gurmet-sns-app-syncrolife-world-first-implements-token-base-reward-system