PR87057

SINGAPORE and TOKYO,Dec. 4, 2020/PRNewswire=KYODO JBN/--

Rikkeisoft Chairman and CEO to join Oraichain's board of directors to expand

overseas partnerships in Japan and the United States.

Rikkeisoft(https://rikkeisoft.com/en), a leading Vietnamese IT and software

enterprise has formalized a strategic partnership with

Oraichain(https://orai.io/), the world's first AI Data Oracle Blockchain

company.

In early November, Rikkeisoft invested an undisclosed amount in Oraichain Pte

Ltd in exchange for 10% of the company's shares. The percentage corresponds to

the portion allocated for the team members at Oraichain and will follow the

same vesting schedule.

As a showcase of their long-term commitment, Rikkeisoft Chairman, Ta Son Tung,

will join the Board of Oraichain Pte Ltd. He will advise on sales strategy and

help Oraichain leverage AI and Blockchain partnerships in Japan and the United

States of America. Also joining the Oraichain board is Rikkeisoft CEO, Phan The

Dung, who will be overseeing finance and finding strategic partners.

The partnership allows Oraichain to utilize the best talents from Rikkeisoft's

Human Resources pool to assist in the development of Oraichain and its suite of

complementary services. Oraichain will start leveraging Rikkeisoft's resources

at present for some of the core company projects:

-Mainnet, Oraichain's central platform

-yAI.finance: Oraichain's first subproduct focusing on Decentralized Finance

-Oraichain's AI Marketplace

-Development of AI APIs

Oraichain will add 13 new developers before the end of the year to work on the

projects. Ten additional developers are expected to join Oraichain to further

accelerate the development process going into 2021, which is expected to be a

pivotal year for Oraichain.

Rikkeisoft's AI division will develop AI APIs on Oraichain's AI Marketplace.

Some examples are: speech-to-text, text-to-speech, OCR, etc. Rikkei AI will

also host AI competitions for developers to boost Oraichain's AI Marketplace

and help establish a genuinely competitive AI API ecosystem. Rikkeisoft's

offices in Japan will help Oraichain explore partnerships with AI and

Blockchain companies throughout the country.

According to Reportlinker

https://www.reportlinker.com/p04793539/Global-Blockchain-Technology-Market.html?utm_source=GNW),

the global blockchain market size is expected to grow at a compound aggregate

growth rate (CAGR) of 29% to USD 8071.49 million by 2024 whilst the demand for

AI services is expected to reach $312.4 billion by 2027

https://www.reportlinker.com/p05478480/Global-Artificial-Intelligence-AI-Industry.html?utm_source=GNW).

Oraichain aims to develop products and services to unlock the full potential

of AI and Blockchain.

"Rikkeisoft is a leading IT company in Vietnam and a trusted partner for many

large enterprises in the Japanese Market. Rikkei AI, a subsidiary of

Rikkeisoft, will provide high-quality AI APIs to Oraichain. Working together,

we hope to enhance the value of Rikkei's products, expand their presence across

the globe through our blockchain platform, and accelerate their vision of

becoming the #1 IT corporation in Vietnam. We must work with the right

strategic partners, and we are glad to have found support from Rikkei at this

early stage in our development", said Dr. Chung Dao, CEO at Oraichain Pte. Ltd.

"At Rikkei, we have been tracking the developments of Oraichain right from the

start. We found it unique as it merges the untapped potential of AI and

Blockchain technologies. Through this strategic partnership, we are honored to

help Dr. Chung and his team build Oraichain. We plan to support Oraichain by

helping them develop the network, build AI APIs for the marketplace and support

them in finding partners who will bring significant value to the organization.

We hope that the partnership will enhance the development of both parties in

the future", said Mr. Phan The Dung, CEO and Co-founder at Rikkeisoft.

About Oraichain

Oraichain(https://orai.io/) is a data oracle platform that aggregates and

connects Artificial Intelligence APIs to Blockchain smart contracts and regular

applications. Founded by Dr. Chung Dao, Oraichain aims to be the portal between

AI and blockchain ecosystems.

About Rikkeisoft

Founded in 2012, Rikkeisoft(https://rikkeisoft.com/) provides software services

and solutions for clients from all over the world, ranging from Web/Cloud

Systems, Mobile Applications, Games, and Blockchain to AI, IoT, Business

Processing, and Embedded Systems. Their clientele includes Panasonic, Viettel,

Systena, Sunloft etc. Rikkeisoft has successfully established three branches in

Vietnam, two in Japan and three other affiliated companies with over 1200

employees striving to become one of the biggest software firms in Southeast

Asia by 2025.

SOURCE:  Oraichain

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=379174

   Caption: Partnership agreement ceremony, Rikkeisoft CEO Phan The Dung and Oraichain CEO

Dr. Chung Dao