Oraichain: AI Powered Data Oracle - The reasons for success and why you should pay attention.
The Crypto space today is a totally different space then what we can remember from 2017. To summarize it, with the implementation and increased adoption of defi (with Uniswap in the lead) we have an influx of both copies of existing project, trying to ride some of the hype, and an influx of delibirate rugpulls. We also have a changed trading pattern, with even lower amounts of due dilligence and shorter attention span movements between projects trying to catch "the new moon"
In these marked conditions, Oraichain came out with their first medium article september 1st: https://medium.com/oraichain/oracle-artificial-intelligence-for-blockchains-aa50790e394a
Under, I will give a short introduction and briefly lay out the reasons why you should pay attention to Oraichain before 2021.
In short: Oraichain aims for the future, by being a data oracle platform, that aggregates and connects artificial intelligence APIs to both smartcontracts and regular applications. Making Orai the first provider of AI Oracle technology, hence having a first mover advantage in a "niche" that will increase its market size exponentially in the comming years:
(https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market)
For a deeper dive into their technology, usecases etc, please visit their whitepapter: https://docs.orai.io/docs/WhitePaper/Introduction
Team:
The team behind Oraichain is far from anonymus:
Dr. Chung Dao, the CEO of Oraichain has both an impressive educational background with a Mc degree in computer sciense from the university of eastern Finland, and a PhD in Computer science from the University of Tokyo.
In his career, he is both a lecturer at Hanoi University and the Co-founder of Rikkeisoft (https://rikkeisoft.com/en#about-heading) , which from its founding in 2012, already have reached over 1000 employees.
His previous experience (hugely succesfull experience at that) in founding Rikkeisoft, now one of the leading IT and software development providers in Vietnam is a crucial part in Oraichains futher development and reach.
Partnerships:
The last couple of weeks we have seen an influx in news regarding Oraichain, including two partnerships. First we saw as you might have guessed: A partnership with Rikkeisoft (https://www.businesschief.asia/technology/rikkeisoft-and-oraichain-expand-ai-blockchain-technology )
Main points of what the partnership includes:
-Rikkeisoft invests and take control of 10% of the shares in Oraichain
-Ta Sun Lung - Rikkeisofts Chairman and co-founder, joins the Board of Oraichain, advising on sales strategies and helping Oraichain leverage AI and Blockchain partnerships in Japan and the United States of America.
-Rikkeisoft CEO - Phan The Dung - will join the board overseeing finance and finding strategic partners.
-Give Oraichain access to Rikkeisofts human resource pool.
The other partnership that was announced this week: Kardiachain (https://medium.com/@oraichain)
Main points of what the partnership includes:
-KardiaChain will utilize Oraichain’s AI-powered data oracle to enhance applications within their ecosystem ahead of their mainnet launch on December 29th, 2020.
-Partnership extends with Oraichain´s enhanced bridge, supporting applications on KardiaChain to power AI services and off-chain data from within Oraichains network
-Oraichain will be a partner validator for the mainnet to secure the Kardia network
-Kai will be a staking option on Oraichains yAI.Finance (https://yai.finance/)
Roadmap - Before February (full roadmap https://orai.io/roadmap)
After the announcement of Rikkeisoft partnership, Oraichain cancelled their private sale (ca 5 million tokens) that will be burned. This is a part of their aim to improve tokenomics to futher growth and support. The 5 million token is a "The 5m private sale token burn is a small portion of the sizeable token burn previously announced " (https://t.me/oraichain_official). The token burn will happen prior to 2021.
yAI.finance vault changes, API in the vault dropped date: 18.12.2020 to ensure sustainable growth (https://medium.com/oraichain/yai-finance-vault-changes-d490d7361dd1). The same announcement also included some reward given to Orai holders in the coming days.
Yield farming (aprox december)
AI marketplace betaversion (aprox december)
100 AI & Testcase APIs (January 2021)
Partnership in EU, USA, AUS (January 2021)
Oraichain Mainnet (January 2021)
AI Marketplace (Production) (February 2021)
Primary CEX Listing (February 2021)
This roadmap is for the next 2 monts. I say it again.... 2 months!.
Summary.
At written time, the MCAP of Orai is 4.7 million usd.
We are looking at a serious project with a team with massive experience and connections
A first of its kind Oracle product that takes aim at the changing technological landscape of the future (first mover advantage)
A project with 2 big partnerships already (pre mainnet). Rikkeisoft which both invested in Oraichain, and gives access to a large quantity of human resources, connections and experiences
A fully packed roadmap the next 2 months, which includes mainet launch, beta marketplace for AI, a Large quantity burn and much more.
And Oraichain is now at 4.7 million Mcap... Time to pay attention.
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