Anryze target $6 million in crowdsale for blockchain Speech Recognition Technology

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Anryze, the company behind a Blockchain platform designed for speech recognition and analysis, has announced it will hold a token sale to develop its product and expand into new markets. The founders of Anryze aim to sell 300 million RYZ tokens for a total of $6 million (USD). The crowdsale is scheduled to begin on 12 September.

Anryze’s speech-to-text service currently works with Russian and English audio. After the token sale, the company plans to begin work on adding Chinese, Spanish and German languages, making efforts to expand into the relevant markets in parallel to this development process.

RYZ token

The RYZ token acts as an internal currency, which the company’s customers can use to purchase speech-to-text services for a given duration of audio. The cost of one token is initially equal to one minute of audio processing. With a growing customer base and an increase in the number of minutes processed, the cost of a token will correspondingly grow, since overall token supply is fixed.

In addition to this demand-based growth in price, Anryze’s tokens will provide holders with a share of the revenues from every transaction processed by the network. 20% of the fees for audio processing will be distributed proportionally among token holders.

Growing global market

Mikhail Yezhov, co-founder of Anryze, emphasises that his company’s services will see strong demand.

“We believe in the future of our technology, since it allows us not only to compete with global giants such as Google and IBM, but also to surpass them thanks to our dramatically lower prices – we charge around a third as much, without loss of quality. The market shows growth of 12% annually, and even without the growth of our existing customer base, we anticipate an increase in transaction volumes of 5-7% monthly. We are already working with American brokerage houses, and we are currently conducting negotiations in Russia. Our market is in its early stages and still establishing itself, and its potential is yet to be fully unlocked.”

Anryze is a company engaged in the development of a Blockchain service for speech recognition and analysis. The company was founded at the beginning of 2016 by Anton Gerasimenko, Mikhail Yezhov and Oleg Zaychuk. Anryze’s speech recognition experts have an average of over 5 years of experience.

In February 2017, the Starta Accelerator investment fund bought 7% of shares in the company for $130 000, estimated the company at 2 million USD. There is established market demand for speech recognition and analysis, and the sector is currently occupied predominantly by Google and IBM. Thanks to its use of Blockchain technology and neural networks, Anryze can offer a competitive product at a price that is 2 to 3 times lower than its counterparts.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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