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Anryze raised $1,6 million at ICO to develop fintech and regtech solutions

Investors from outside of the core cryptocurrency community also have taken a keen interest in the distributed speech-to-text platform. Influx of fiat investment pushes Anryze to pass $1,6 million crowdfunding milestone. Most of Anryze’s clients are US companies in such industries as financial compliance, banking, telecom and sales.

Anryze, the innovative speech recognition project that will use a distributed network and a Waves blockchain token to process audio files, is closing in on its funding target.

Despite a challenging regulatory and market environment, Anryze has seen a surge in investment, pushing the project past the $1,6 million mark. The team recently added the option for fiat deposits via the Waves platform, reflecting substantial interest from conventional investors from outside the cryptocurrency ecosystem.

‘We’re thrilled to have hit the $1,6 million mark and passed our minimum viability threshold,’ comments Mikhail Yezhov, Anryze’s co-founder and CMO. ‘We have fielded questions from many prospective investors who immediately grasp the value of our product, but who are unfamiliar with cryptocurrencies. The decision to add a Euro deposit option has proven wise, and we are heartened not only that this will help us to fund our next phase of expansion, but that it means Anryze and Waves will be these investors’ first experience of digital assets.’

Speech recognition and fintech

Anryze is pioneering a completely new model in speech-to-text (STT) processing. Speech recognition technology is a fast-growing market, but one that is currently dominated by a few large corporations, including IBM and Google. Due to their significant overheads and duty to maximise income for shareholders, these services are comparatively expensive.

Instead of taking the traditional approach of processing audio files in a data centre, Anryze outsources this work to a distributed network. Customers upload their audio to the Anryze network, where it is converted to text by the first available participant of the system with AI software (miners). Miners are rewarded in RYZ, the network’s native token, which are purchased by customers from the open market to pay for their services on a per-minute basis. The efficiencies of this approach are such that costs can be as little as a third of those of the established market leaders.

First Clients will be brought to the blockchain platform by Anryze. Most of them are US companies in such industries as financial compliance, banking, telecom and sales. Here is the list of the companies we are already working with. Mast Mobile – provides the mobile sales productivity platform that embeds CRM into your sales team’s day-to-day activities, automatically loading all their client communications into the database.

Weeden & Co – broker firm founded in 1922 in New York. It provides brokers service for institutional and private investors on US markets (as NYSE, Nasdaq, etc.) with more than 300 broker agents who talk to clients daily. Bino – mystery shopping platform that allows restaurants, cafes, bars, shops and stores to measure customer experience with help of mystery shopper visits. Most of the visits happen with voice recording. Bino works on Eastern European and US markets.

Anryze is currently holding a crowdsale to fund further development and expansion of its business. As the project gains traction and there is greater customer demand for RYZ, the value of the token is expected to increase.

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Mercredi 11 Octobre 2017