Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Friday, December 11 2020 - 01:00
Rikkeisoft and Oraichain to Expand AI Blockchain Technology Globally
SINGAPORE and TOKYO,Dec. 4, 2020/PRNewswire-AsiaNet/--

Rikkeisoft Chairman and CEO to join Oraichain's board of directors to expand 
overseas partnerships in Japan and the United States. 

Rikkeisoft(, a leading Vietnamese IT and software 
enterprise has formalized a strategic partnership with 
Oraichain(, the world's first AI Data Oracle Blockchain 

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 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, 
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 
 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( 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( 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:


   Caption: Partnership agreement ceremony, Rikkeisoft CEO Phan The Dung and 
Oraichain CEO Dr. Chung Dao