SynchroLife’s Managing Company GINKAN Inc. Announces Capital and Business Partnership with Orient Corporation
GINKAN Inc., the managing company of the token economy based social restaurant service SynchroLife, announces a partnership with leading Japanese consumer financial service company Orient Corporation, including funding through a third-party allocation of shares and plans to partner in the fintech industry.
JULY 17, 2019 — Tokyo, Japan
GINKAN Inc., the managing company of SynchroLife, the token economy based social restaurant review service in which users earn cryptocurrency for dining out, announced that it has raised funding through a third-party allocation of shares to Tokyo Stock Exchange listed consumer financial service company Orient Corporation (TSE: 8585).
A Capital and Business Partnership Between SynchroLife and Orico
Through this capital and business alliance, Orient Corporation (also known as “Orico”) and GINKAN Inc. (“GINKAN”) plan to collaborate and offer new promotional services, customer services, fintech projects, and more. Orient Corporation is one of Japan’s leading consumer financial service companies with over 10 million credit card users and over 800,000 businesses as clients, offering a wide variety of credit card and loan related services. GINKAN enters the partnership offering a unique and original token economy based service.
With this new partnership, it is expected that SynchroLife will be able to increase their restaurant and user base, and Orient Corporation will be able to strengthen their connection with their credit card users and offer new related services. Additionally, both companies hope to collaborate and utilize SynchroLife’s data on consumer behavior and preferences in new businesses in the future as well.
SynchroLife offers cryptocurrency rewards to quality reviewers, and also recently launched a program allowing diners to earn cryptocurrency when dining out at participating restaurants. SynchroLife’s mid-term vision is to create an opportunity for the average consumer to earn digital assets (cryptocurrency) simply by dining out. In the long-term, SynchroLife aims to collaborate with Orient Corporation to explore various fintech services utilizing cryptocurrency and mobile apps.
SynchroLife is the world’s first social restaurant discovery service that utilizes blockchain technology to reward quality reviewers with cryptocurrency rewards. SynchroLife also includes artificial intelligence features that help guide users to the best restaurants quickly, solving the problem of time-consuming restaurant search.
The SynchroLife mobile app is currently available for iOS and Android mobile devices in four languages (English, Japanese, Korean, Chinese) and over 155 countries. SynchroLife has over 190,000 reviews at 100,000 different restaurants. SynchroLife began as a social media service for restaurant reviews, and added “SynchroCoin” cryptocurrency rewards for trustworthy user reviews in August 2018.
Starting July 1, 2019, SynchroLife users can now also earn on average 1%~5% (set individually by restaurants, with the maximum campaign rewards being 20%) of their dining bill cashback in SynchroCoin cryptocurrency just by dining at participating restaurants. By reading a QR code at the restaurant during payment, users will receive an amount of SynchroCoin directly in their SynchroLife in-app wallet based on the current rate of SynchroCoin. SynchroLife is designed to benefit both diners and restaurants while helping to solve restaurant marketing problems. SynchroLife is also expanding its business into the fintech space by aiming to build a global token economy connected to the average consumer’s daily life — through food and dining out.
SynchroLife was chosen as a finalist in Mitsubishi UFJ Financial Group’s MUFG Digital Accelerator Program Batch 4, and also won the fintech category of Plug and Play Japan’s Batch 1 in 2018.
Learn More About SynchroLife and SynchroCoin
・ Official Website: https://synchrolife.org/
・ Medium Blog: https://medium.com/synchrocoin
・ Telegram: https://t.me/synchrocoin
・ Twitter: https://twitter.com/synchrocoin
・ Facebook: https://www.facebook.com/synchrocoin
Learn More About GINKAN and Orient Corporation
- Company Name: GINKAN, Inc.
- Address: LIFORK MINAMI AOYAMA N213, 1–12–3 Minami Aoyama, Minato-ku, Tokyo 107–0062 Japan
- Representative: CEO Tomochika Kamiya
- Established: December 2015
- Capital: 112,810,000 yen
- Website: http://ginkan.jp/index_en.html
About Orient Corporation:
- Company Name: Orient Corporation
- Address: 5–2–1 Kojimachi, Chiyoda City, Tokyo 102–8503
- Representative: CEO Masaaki Kouno
- Established: 1954
- Capital: 150 billion yen (as of March 31, 2019)
- Website: https://www.orico.co.jp/