THE BRIDGE: Social Restaurant Review App SynchroLife — Releases Service to Earn Cryptocurrency Just by Dining Out — Earn Up to 20% Cashback, New Advertisement Model for Restaurants

SynchroCoin
Jul 8 · 3 min read
https://thebridge.jp/2019/07/synchrolife-introduces-crypto-rewards-function

SynchroLife launched a new restaurant program earlier this month on July 3, 2019 — you can now earn cryptocurrency just by dining out with SynchroLife! Read more about this new feature here 🍽

Japanese startup and tech news site THE BRIDGE wrote an original article discussing SynchroLife’s new program and we’ve prepared an English translation of this news coverage for our international readers 🌐

You can read the original article from THE BRIDGE in Japanese here: https://thebridge.jp/2019/07/synchrolife-introduces-crypto-rewards-function


THE BRIDGE — July 3, 2019

Social Restaraunt Review App SynchroLife — Releases Service to Earn Cryptocurrency Just by Dining Out — Earn Up to 20% Cashback, New Advertisement Model for Restaurants

SynchroLife, the social restaurant review service with a token economy, began a new restaurant program on July 3rd that rewards users up to 20% of their dining bills cashback in cryptocurrency. This service is the official release of the service they tested with a proof-of-concept campaign in September 2018 at Tokyu Plaza Ginza during their time in the Plug and Play Japan Batch 1 accelerator program. They have applied for a patent for this unique method of sending customers to restaurants, and believe they are the world’s first to implement such.

Originally launched in October 2012, SynchroLife has recently been focused on using blockchain technology and its own token the “SynchroCoin” to build a community and prevent biased restaurant reviews. SynchroLife already has over 190,000 user reviews at over 100,000 restaurants. Since August 2018, SynchroCoin has been used in the service as a reward for trustworthy and quality reviews, but starting this month users can now also earn from 1% to 5% (and even up to 20% during special campaigns) of their dining bill SynchroCoin cashback in SynchroCoin.

With the implementation of this new program, participating restaurants can expect to be able to attract new customers interested in earning cryptocurrency cashback. Unlike traditional restaurant advertisement models, restaurants don’t have to pay up front to list on SynchroLife and just pay 5% of the actual spending SynchroLife customers do at the restaurant in a results based compensation model. They are scheduled to add 50 restaurants, mainly in the Tokyo area, where users can earn cryptocurrency by the end of July. Their next goal is to have 1,000 restaurants participating in the program by the end of 2019. SynchroLife’s cryptocurrency the “SynchroCoin” (SYC) is currently trading on LATOKEN with Ethereum at about 0.8 yen per token.

GINKAN, Inc. raised 30 million yen during their angel round in September 2017, and 80 million yen during their seed round in August 2018. They also participated in Plug and Play Japan’s accelerator program Batch 1 and won the EXPO Winner award at the Batch 1 Demo Day.



SynchroLife

SynchroLife is the app loved by eaters — the world's first social restaurant review platform with crypto rewards, connecting users and restaurants to build a new token economy. Join us! https://synchrolife.org

SynchroCoin

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SynchroLife is the app loved by eaters — the world's first social restaurant review platform with crypto rewards and a token economy! Join today!

SynchroLife

SynchroLife is the app loved by eaters — the world's first social restaurant review platform with crypto rewards, connecting users and restaurants to build a new token economy. Join us! https://synchrolife.org