Earlier this week Tech Crunch Japan featured SynchroLife in an article introducing our service and sharing the news about our capital and business alliance with Orient Corporation!
Want to learn more about the SynchroLife and Orient Corporation partnership? Keep reading below! You can also read the original article from Tech Crunch Japan in Japanese here: https://jp.techcrunch.com/2019/07/17/ginkan-partnered-with-orico/
Dine & Earn Crypto Restaurant App “SynchroLife” forms Capital and Business Alliance with Orient Corporation
SynchroLife is a social restuarant review app with a token economy in which users can earn the cryptocurrency “SynchroCoin” (SYC) for posting restaurant reviews or dining at participating restaurants.
GINKAN Inc, managing company of SynchroLife, announced on July 17, 2019 that they have formed a capital and business partnership with Orient Corporation. The amount of investment from Orient Corporation is private, but is part of GINKAN’s current funding round.
SynchroLife began as a social media model restaurant review app. In August 2018 they released cryptocurrency rewards for reviewers based on quality and trust scores. Following that release, this summer July 1, 2019 SynchroLife unveiled a new program that allows diners to earn 1%~5% of their dining bill cashback in SynchroCoin as well.
Restaurants can join the service with no upfront registration fees and no monthly fees. Restaurants only pay a 5% results based compensation fee when they get sales from SynchroLife customers.
Additionally, with SynchroLife restaurants can reach out to diners who have been to their restaurant before with automated CRM tools that allow them to remind and incentivize diners to come back to the restaurant. SynchroLife plans to have 50 restaurants in the program by the end of July, and 1000 restaurants in the program by the end of 2019.
GINKAN Inc’s founder and CEO Tomochika Kamiya comments that the program for rewarding diners for visiting participating restaurants is “an official release following the proof-of-concept campaign we held with Tokyu Land Corporation last year.” He continues, “This is the start of a truly functional token economy, powered by borderless cryptocurrency. We plan on starting here with the restaurant industry in Japan, and moving into the rest of Asia next.”
SynchroLife is unique as a restaurant discovery platform not only for cryptocurrency rewards but also for its AI powered restaurant recommendations that remove the need for traditional search features. SynchroLife has over 190,000 reviews at 100,000 different restaurants in their service, and is available in four languages (Japanese, English, Korean, Chinese) in over 155 countries.
With this capital and business alliance, GINKAN will be working with Orient Corporation, which has over 10 million credit card users and over 800,000 businesses as clients, to collaborate and offer new promotional services, customer services, fintech projects, and more.
CEO Mr. Kamiya comments, “We are focused on solving problems restaurants face and will destroy the advertisement model common in the restaurant industry today,” and regarding cryptocurrency cashback rewards notes, “We will be working with Orient Corporation.”
Thank you again Tech Crunch Japan and writer Wakako Mukohata for sharing this article about SynchroLife!
We have been covered by Tech Crunch Japan several times, you can read translations of some of their other coverage below.
Tech Crunch Japan: SynchroLife Disposes of Restaurant Search with AI Picks Feature
SynchroLife released a major update to both the SynchroLife iOS and Android apps at the beginning of April 2019 — …
Tech Crunch Japan: SynchroLife Included in Article About 1 Year Anniversary of Plug and Play…
SynchroLife was chosen for Plug and Play Japan’s Batch 1 accelerator program in summer 2018 (see full news here…
Tech Crunch Japan: Social Restaurant Discovery App SynchroLife Releases New Version with Token…
SynchroLife’s major launch last week was covered by the Japanese edition of Tech Crunch, one of the world’s biggest…
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