Hello everyone this is Tomochika Kamiya, founder and CEO of SynchroLife.
Today I have an important announcement for the community!
We will be completing the development of our first milestone at the end of June. SynchroLife will become the world’s first social restaurant platform with cryptocurrency rewards and a token economy, a revolutionary step forward in the restaurant search and discovery market.
Before releasing our new mobile app update to the public, we need to go through the App Store and Google Play app review process. We will release both the iOS and Android apps once they are approved. We expect the new app to be available for download in early to mid July, depending on the length of the app review process.
We will be sharing further information via email newsletter and Telegram as the app is released, please register to keep up with the latest SynchroLife news!
📩 Sign up for the SynchroLife newsletter here: https://synchrolife.org
💬 Join the SynchroLife Telegram community here: https://t.me/synchrocoin
■ Details About Our Upcoming Product Release
We are finalizing the following new features and products for the end of June.
1. A scoring system for users and reviews
2. Token reward system for quality content and reviews
3. Cryptocurrency Wallet inside the SynchroLife mobile app
4. Full design renewal to improve UI/UX
5. Updated of the service’s artificial intelligence and recommendation logic
Details of each feature and product are as follows:
Regarding the Token Rewards
Up until now, SynchroLife grew thanks to the volunteer work of users posting restaurant reviews in the services for free. These users are big “foodies” and fans of SynchroLife, and we consider them some of our greatest supporters.
These users of the beta version received “titles” and “experience points” in SynchroLife as a score based on the quality of their reviews and content. We had a gamification system set up in the app.
After running this version of the app for 2 years, we could see our community growing steadily and saw the platform had the potential to be a great success. This led to our announcement last year to move the platform to a decentralized reward based restaurant platform. We hope to attract even more reviewers and grow the platform this way, and give back to that community with token rewards.
We have updated the reward algorithm in our service to reflect the quality and importance of each user’s contributions so that they will receive SynchroCoin rewards based on the value of their content.
Unlike classic and centralized rewards and point systems, the rewards will be distributed in a decentralized fashion along with the growth of the platform.
Current restaurant review sites and apps have also grown along with their user’s reviews, however in these cases the centralized managing company takes all the profits and users are left contributing reviews for free in exchange for use of the platform.
Users build and give value to the platform through their content, and the SynchroCoin is designed to share that value with the users in a decentralized way.
In recent years, the growth of the internet and social media has allowed for many content creators to monetize their content. This is seen most clearly with bloggers and Youtubers who can easily start to monetize content as a side job or even as a freelance creator or as a career.
However almost all restaurant reviewers have continued to do it as volunteers, posting to restaurant review services and social media. Restaurant reviews is a hard content area to monetize, as receiving money or free meals from restaurants in exchange for a review is considered bad practice by many restaurant seekers who want unbiased reviews and information.
SynchroLife aims to build a world where restaurant reviewers can earn income for their high quality content.
And the more high quality reviews their are in SynchroLife, the easier it will be to find restaurants, and the platform will continue to grow.
It’s important to note that the token rewards are designed to be distributed to only high quality content and reviews, which means that content with little value to the platform may not receive many or any token rewards. Many users may find that by just posting to the platform a couple times they are unable to earn significant rewards. But this is for the sake of the platform, to build a system that rewards users for original and high value content and restaurant reviews. It’s meant to be a reward for serious restaurant reviewers and food lovers, like the users who have built our platform up until now.
By designing algorithms to analyze the best of the good reviews we have collected during beta testing, we have been able to create an algorithm that gives rewards for the best quality content and these rewards will help us to grow the SynchroLife platform worldwide.
Regarding the SynchroCoin Token
100,000,000 SynchroCoin tokens were created and 20% of them, 20,000,000 tokens, will be used for token rewards within the SynchroLife platform.
The amount of SynchroCoin tokens used for rewards is set, it is not an inflation model and we will not create more of the token.
The amount of SynchroCoin tokens distributed as rewards over time will decrease. We currently plan for the amount of tokens distributed as rewards to halve once every two years.
The distribution pace may be adjusted for improvements, but the total amount of SynchroCoin tokens available and the total amount of tokens in the reward pool will not be changed. Thus the value of the token will not be diluted.
Regarding the Cryptocurrency Wallet
In a world where cryptocurrency adoption is still less than 10%, the cryptocurrency wallet inside SynchroLife (the “Synchro Wallet”) will become the first cryptocurrency wallet many consumers ever own.
The Synchro Wallet will only be usable with SynchroCoin (SYC) at first. But we plan to add a variety of cryptocurrencies in the future, starting with Ethereum (ETH).
As of today, over 90% of the population has never owned cryptocurrency. While awareness of cryptocurrency grows daily, without a specific interest in investment or the latest tech most consumers have little motivation to actual purchase any cryptocurrency.
However with SynchroLife, people searching for and sharing good restaurants can earn cryptocurrency (the SynchroCoin) in their Synchro Wallet as a reward for posting high quality reviews and dining at participating restaurants.
This will become many consumer’s first exposure and experience actually owning their own cryptocurrency, and we believe it’s through use in services like these that cryptocurrency will begin to spread.
With SynchroLife we hope we can give back to the cryptocurrency industry and community by helping to bridge the gap between average consumers and cryptocurrency, and grow the community as a whole.
Regarding UI/UX Changes
SynchroLife is a service made to help diners find good restaurants as fast and easily as possible.
Many blockchain related projects struggle to make their services easy for the general user and consumer to understand. But we believe it’s extremely important to make sure the platform easy and intuitive to use in order to grow the platform and token economy tied to it.
We have spent a lot of time rethinking the overall UI/UX of our mobile app for this new release and have done a full overhaul of the design. Moving forward we plan to continue dedicating time and resources to updating the UI/UX in order to make SynchroLife as easy to understand as possible.
Regarding the Artificial Intelligence and Recommendation Logic Updates
One of SynchroLife’s most unique features is the artificial intelligence that analyzes each user’s tastes and dining preferences to provide users with high quality and personalized restaurant recommendations.
We have updated our system to help users discover even better restaurants through the personalized search results and recommendations!
■ Updates to the Road Map
We are making some minor updates to our originally announced road map to improve the business plan. We will share this with community once it is finalized.
■ Exchange Listing for SynchroCoin
We plan to list the SynchroCoin on an exchange around July — August 2018, around the launch of our token rewards and cryptocurrency wallet in the SynchroLife service.
We are already in discussion with several exchanges, and will announce more information regarding this once dates have been finalized. Please join our Telegram community (https://t.me/synchrocoin) to receive any news regarding exchanges in real time.
■ Token Migration Announcement
The SynchroCoin will be upgrading to ERC223 to better implement our future service features and to benefit token holders. We will be migrating the SynchroCoin token before the release of the new mobile app and before the exchange listing.
We will be announcing more details regarding the migration very soon. Please note if you are a SynchroCoin (SYC) holder, there is nothing you need to do for the migration unless you have escrowed SYC (such as anyone who has SynchroCoin in EtherDelta). We will be sharing more information about the migration process soon.
■ Upcoming Schedule
End of June 2018 — Early July 2018
- Submit new mobile app to the iOS and Android app stores
- Migration of the SynchroCoin to ERC223
Early — Mid July 2018
- Public release of the new SynchroLife mobile app (with token rewards & wallet)
July — August 2018
- SynchroCoin exchange listing
■ Last But Not Least: A Message To Our Community
We have been working hard to make our project a success and a reality since October of last year. This is partially thanks to the deep understanding and support of our community: SynchroCoin holders and SynchroLife reviewers. Thank you.
SynchroLife has continued to grow as a social restaurant review platform as we have been developing this new release over the past 6 months. As of the end of May 2018, we have seen over 170,000 restaurant reviews and 420,000 restaurant photos posted to SynchroLife. Our users are already visiting and reviewing over 2,500 restaurants a month!
And despite the fact that we have not begun our marketing efforts, we have already seen users join SynchroLife from 82 countries and posting restaurant reviews in 44 countries around the world.
In order to make our token economy a success, scaling and growing the platform is absolutely essential.
We will continue to give this project our all as we strive to raise the future value of the platform and build our token economy.
Thank you for your continued support, let’s do this!
SynchroLife Founder and CEO
Recent News from the SynchroLife Team:
Other Medium Articles by the SynchroLife Team:
・SynchroLife Nominated at “THE COIN” in Tokyo, CEO Tomochika Kamiya Presents
・How SynchroLife Takes a Unique Position in the Competitive Restaurant Search and Discovery Market
・Current Features of the SynchroLife Beta App
・Why We Decided to Use Blockchain Technology with SynchroLife
・SynchroLife’s Token-Based Economy: How Users Can Earn & Spend SynchroCoin (SYC)
・Behind the Scenes: The Meaning of “SynchroLife” and Our Seahorse Icon
・How SynchroLife will Handle Fake Reviews
Please visit the following links to learn more about SynchroLife! 📲
Official Website: https://synchrolife.org
White paper: https://synchrolife.org/whitepaper.html
SynchroLife Mobile App:
iOS App Store: https://itunes.apple.com/app/id557532449
Android Google Play: https://play.google.com/store/apps/details?id=jp.co.synchrolife