Crypto & Blockchain Translation Archives - Into23

Quality translation – the missing link in blockchain applications

Blockchain technology redefines industries by securing assets, controlling risks and overhauling transparency. By providing an effective framework in which anyone can independently verify, authenticate and comprehensively track records, any business can organically expand its products and services through a thriving, interconnected and monetizable network.

Decentralised transaction records change the nature of any financing by encrypting information and permanently linking each activity instance without relying on a centralised database or administrator. This enhances any business activity, from manufacturing supply chains to internal control and Initial Public Offerings, by providing a universal basis for consensus not only on validity- which includes proprietorship, authorisation, and licensing- but also value.

Blockchains expedite approvals and purchases while streamlining security and verification measures, categorically setting apart organisations that can successfully adopt and implement a platform. Peer-to-peer networks provide a foundation for ecosystems to collectively establish the market value and facilitate the efficient exchange of assets. Descriptions of blockchain applications can sound similar to the idea of existing currencies and markets because they effectively comprise a high-speed, always-on, self-regulating economy that businesses can ill afford to ignore.

It requires an immense level of detail to practically implement blockchain functionality because the level of information to process scales with the complexity and volume of the business involved. Beyond technical factors, it is vitally important to consider that any application is only as good as its suitability for use by actual people.

For an international business, this requires information to be clearly and comprehensively understood across regions, languages and cultures. Any blockchain technology platform should therefore be designed with quality translation provided from the outset. International translation companies providing business translation services are well-equipped for any workflow that involves processing large amounts of data with a solid technical understanding, attention to detail and sensitivity to cultural factors in the usage scenario. 

Blockchain applications in the translation industry

The translation industry is no exception regarding the potential for disruption with blockchain. The enterprise translation workflow lends itself to transparency, accountability, valuation and security. Expert translation services already maintain detailed records on tasks and processes. In the future, individual blockchain platforms from multilingual translation services providers could be extendable to an industry-wide encrypted network that enables clients to select preferred providers and track performance with granular detail, raising standards across the boards.

Although blockchain’s disruption of the translation industry will likely develop over the next decade, crypto enterprises and blockchain developers already need translation to get their platforms off the ground in 2022.

Why do blockchain developers need cryptocurrency translation?

Technical expertise

Any cryptocurrency or blockchain platform developer needs to engage a worldwide user base with their interface. As with legal document translation and agribusiness enterprise translation,  a solid understanding of the technical background and context in which businesses utilize the material is key to providing effective services.

Expert localization services with linguistic QA specialists are well-equipped to deliver comprehensive translations of complex text within the timeline required to design, develop, test and release an application.

User interface and user experience

Software localization services specialize in adapting a User Interface and User Experience to a target audience. Into23’s expertise with eCommerce translation ensures that anyone using your blockchain application’s interface can consistently access the records and resources they need to carry out functions. 

Blockchain UIs are currently mired in exceptionally specific technical jargon that is ill-suited to any UI intended for first-time users or people without a background in software development. Current blockchain applications often ironically fail to establish transparency and trust on a meaningful scale because the sheer amount of information overwhelms the average person.

This issue goes beyond language and linguistics and has to be addressed by software developers and at the conceptual level in whitepapers. But expert translation service providers can offer key consultation on establishing connections with users and ensuring consistent engagement as a platform expands. 

Payment service processing

Cryptocurrencies are increasingly gaining traction as a means of payment and remittance. El Salvador became the first country to adopt Bitcoin as a legal tender in September 2021, enabling local businesses to accept cryptocurrency as payment for goods and services. 

China is the first country in the world to issue a sovereign digital currency, which is already in use. China’s Digital Currency Electronic Payment differs from cryptocurrencies because it is not decentralized, and the government tracks all transactions. Nonetheless, it is developed with a blockchain platform, with an official e-wallet app that delivers functionality for ordinary users by linking with bank accounts and standard payment platforms.

Other countries are sure to eventually develop their own central bank-denominated digital currencies upon a comprehensive review of the policy implications required to establish a legislative foundation for a government-regulated blockchain standard.

Whether businesses want to explore alternative payments and financing or adapt ahead of time to standardized digital currency payments, the necessity for applications with a solid user interface suitable for widespread adoption is an essential priority. Extending this between countries and cultures is where multilingual translation services provide the critical link between concept and execution.

Gaming, Media and Web3

The gaming industry is forwardly positioned with blockchain applications because of the established precedent for digital ownership and virtual economies. Blockchain is a natural progression for systems where securing virtual assets and account activity records is a vital driver of value. 

The emergence of digital ownership of assets disrupts media and the arts, and NFTs dominated news cycles in 2021 because they established a basis for a broader digital economy. Metaverse platforms like Roblox, Decentraland and The Sandbox are at the centre of feverish speculation because they represent the potential for a potential successor to the internet. 

Metaverse platforms bear characteristics of both gaming and eCommerce platforms, with the potential for extensive, transaction-driven user engagement. The sheer scale of investment in virtual content platforms makes it likely that markets and Web3 applications, with decentralized ownership and exchange of assets integrated with interactive media platforms, will develop in some form over the upcoming decade, even if the trajectory and timeline turn out differently from current forecasts. 

Into23 has extensive experience with providing advertising transcreation, Continuous Localization solutions with scalable translator networks, and a proven track record with Gaming Translation Services and multilingual voice-over translation geared towards engaging users across cultures in every kind of application, from eCommerce to eLearning.

If you are as enthusiastic as we are about the potential that blockchain applications bring to our industry as well as yours, leave a comment below or drop us a line with any questions you may have. The future belongs to flexible and innovative enterprises, and we look forward to taking the next step with our clients.

How blockchain enterprises engineer a truly global ecosystem

If globalization was the story of the first two decades of the 21st century, DeFi (Decentralized Finance) is the defining trajectory of international business and the global economy in 2022. Beyond reshaping industries with decentralized applications for existing business models, the crypto industry is more globally distributed and genuinely reflects the diverse communities and enterprises which adopt frameworks and develop protocols. The scope and nature of integration varies with local conditions and the unique needs and opportunities of every region and market.

Unlike traditional global business models, which adapt the same basic product or service to local markets and services, crypto companies often carry out different functions in different regions. Serving a wider range of purposes, while taking advantage of the unique factors, such as the regulatory environment, startup ecosystem, local needs in every country ensures that networks thrive with active users.

While many blockchain businesses specialize in a specific application, the industry itself is globalized in a genuinely decentralized sense.  According to the Chainalysis Global Crypto Adoption Index, worldwide adoption of cryptocurrency surged by over 880% in 2021. This expansion is largely driven by emerging economies, including Vietnam, Nigeria, Kenya, India and Pakistan. Users in each market have different reasons for embracing cryptocurrencies, such as overseas remittances, secure channels for international trade, excessive domestic capital controls, or simply to invest.

While cryptocurrency users in emerging markets are often driven by practical factors, Hong Kong and Singapore are important hubs for blockchain based startups. The Asian financial centers play a pivotal role in shaping the crypto industry by incubating several of the most impactful blockchain ventures. Several of the industry’s leading exchanges, including Crypto.com, were started in Hong Kong, while Animoca Brands, creator of the leading Metaverse platform The Sandbox, was founded by local entrepreneurs and maintains its headquarters at Cyberport, the city’s FinTech innovation hub. Hong Kong is at the forefront of FinTech with digital asset financial services enterprises thriving in the local sector. The cross-border B2B trading platform Neat, founded in Hong Kong to serve SME’s operating in the Greater China area, was acquired by the global payment network platform Rapyd in January 2022.

The locally based Hashkey Group has invested USD 360 million in 110 blockchain companies in 14 countries, while Animoca Brands has committed USD 50 million to The Sandbox Metaverse Accelerator program, which will fund 30 to 40 arts and culture-focused blockchain startups over the next four years. 

The rapid proliferation of NFT’s, which disrupted cultural industries around the world in 2021, can be traced to the $69.3 million sale of Beeple’s “The First 5,000 Days” in Singapore, by a Crypto entrepreneur who has developed a virtual museum to display the work and leveraged similar NFT assets by fractionalizing their ownership in within the Metapurse crypto-fund. While the full extent and impact remains to be seen, the concept of providing universal access and participation in the fine arts is unprecedented.

However, cultural applications and first world financial services are only the tip of the iceberg.

Crypto enterprises, whether they are metaverse platforms, investment funds, crypto exchanges, payment services, peer to peer loan networks or blockchain platforms, are as much about financial inclusion as innovation and investment. While blockchain enterprises often set up their headquarters in cosmopolitan financial centres, the underlying vision is furthering worldwide access and economic development in regions that have been underserved and underrepresented, thereby revolutionising the technology industry and the global economy itself.

“Along with blockchain, Web 3.0 promises to bring financial inclusion and allows people to take ownership of their own information, and HashKey Group is committed to fully support companies and projects who are leading this disruptive movement.”

  • Deng “DC” Chao, Head of Investments, HashKey Group

The fundamental challenge facing developing economies is not a lack of wealth, resources, talent or vision. Global inequality in the modern world is also not solely the result of historical injustice or any malicious agenda. Rather, the issue is the failure of centralized systems, with inefficient bureaucracy and inadequate structures prone to dysfunction. Blockchain solutions which address the root of the issue stand to change the world on an unprecedented scale by reforming education, political systems, and perhaps most importantly, allowing disadvantaged communities to fully access their own resources.

IOHK (Input Output Hong Kong) is a blockchain infrastructure research and engineering company committed to developing DeFi solutions for companies, governments and people around the world. With operations across 50 different countries, IOHK seeks to connect disparate communities and systems with initiatives such as the Cardano decentralized Smart Contract platform and Atala Prism decentralized identity solution.

Input Output emphasizes its commitment to the African continent, as well as economies in Southeast Asia, Eastern Europe and South America, because the organization views emerging economies with young populations as a future driver of global growth and development, and countries like Ethiopia, Nigeria, Uganda Rwanda and Kenya have immense potential for new frameworks and solutions to overhaul social and commercial enterprises across the board, from remittances to election vote systems and government identification databases.

IOHK founder Charles Hoskinson, who co-founded Ethereum, advocates for establishing standards of transparency, accountability and immutability for social and economic enterprises in Africa. By empowering ambitious and talented entrepreneurs, professionals and citizens in emerging economies with robust, verifiable and permanent records– whether they are certificates, transactions, identities or assets- blockchain platforms overcome the challenge of relying on governments or multinational companies for accountability.

They also provide individuals in the developing world with identity. Unlike the identification of personal user data on social media platforms, secure and transparent blockchain identities enable access to economic opportunities such as financial services, internet connectivity, public services and education.

Transparent, secure and immutable records and peer to peer systems also overcome the longstanding limitations that businesses in developing nations face with raising investment in the international financial system and fully integrating with the global economy.

This lays the foundation for the global emergence of economic potential that has been dormant for centuries. Far beyond the rise of Asian economies, blockchain enterprises stand to bring the world’s under-represented populations from the margins to the international stage.

“We’re going to announce an Africa focus in our company, and we’ll be able to show everybody all the different programs and pilots and projects and partners, and the vision of what we’re going to invest in over the next three to five years. It is the privilege of a lifetime as an entrepreneur to be able to participate in these markets in this way. I literally get to wake up every single day and talk to the most ambitious, honest, and hardworking people I’ve ever met in my life and find ways to build systems with them that not only make their lives better, but produce wealth for all of us.”

As keen crypto enthusiasts, we at Into23 are proud to provide multilingual translation services around the world from Hong Kong, Asia’s World City and home to the industry’s most innovative platforms and disruptive blockchain enterprises. With over 20 years of experience and a solid technical background, our team of translators and linguistic QA specialists are exceptionally well equipped to translate whitepapers and localize platforms and user interfaces for users around the world.

As international translation companies, we view our clients as partners, and we are proud to collaborate with innovative enterprises around the world, and part of what drives our level of service is our enthusiasm, not only for language and culture, but the work that companies do. We are particularly proud to work with blockchain developers because we understand the importance of the work they do, and the role it plays in changing the world for the better. We can translate for any region, including Russia, Ukraine, Brazil, Indonesia, Vietnam, Thailand and Colombia.

We provide Translation Management as a Service, access to various translation workflows, full visibility into our process and comprehensive CMS integration. We provide customised full-service solutions according to the individual needs of each client.

If you are as passionate about Crypto as we are, please share your thoughts in the comment section below.

How can Blockchain and Crypto Documents be Translated?

Both blockchain and cryptocurrencies remain among the hottest topics in the business world. In 2020, the global blockchain technology market was around $3.67 billion. According to an analysis, it will grow at a CAGR of 82.4% from 2021 to 2028. Similarly, the global cryptocurrency market was estimated at around $1.49 billion in 2020. It is expected to grow at a CAGR of 12.8% from 2021 to 2030. People have accepted blockchain currency because it is more secure and decentralized.

All these statistics highlight that blockchain technology and cryptocurrency are here to stay. Today there is a massive demand for blockchain and cryptocurrency. This demand influences how companies provide services and are willing to revolutionize their work culture. However, the language barrier is a major concern for cryptocurrency and blockchain networks businesses. But translation services can help them.

A communication breakdown due to localized documents hinders disclosures between two entities. But there is a translation management company that provides blockchain and crypto document translation services. Let’s learn more about Into23. 

What is a Cryptocurrency translation service?

Cryptocurrency translation services provide the translation of content and documents related to the investment and transaction of cryptocurrency. For this type of service, the translator needs to be an expert in both the technological and crypto fields. 

Cryptocurrencies don’t have a single authority setting the value; they are decentralized. Miners, traders, and investors related to cryptocurrency come from different parts of the world. And just like any globalized industry, professional translation plays a very important role in the investment and transaction of the currency. 

The blockchain system is now beginning to appeal to many industries, from finance to insurance to tech startups, most importantly, all that high-value on the global level. But to break the language barrier and pave the way into the foreign markets, one needs the service of a translation management company that can deal with these types of specialized translation services. 

If your firm plans to build a new cryptocurrency or conduct an Initial Coin Offering, you must consider a cryptocurrency translation company, such as Into23.

Types of Blockchain and Crypto documents that one can translate

Initial Coin Offering: ICO

Initial Coin Offering is an unregulated means to easily raise funds for a cryptocurrency venture. But unlike Initial Public Offering, investing in the ICO doesn’t mean the investors will get an ownership stake in the company they are investing into. Nowadays, almost anyone can launch an ICO since the regulations related to the launch aren’t that strict. 

But if you want your funding to stay secure from all the potential international investors, you must make sure that ICO is easy to fathom, and this is where the crypto translate service comes into the picture. With translation services, you can allure investors through engaging content. 

Financial reports

Even though cryptocurrencies are not financial assets, businesses dealing with them have to evaluate financial reports. The financial reports are the first documents that the stakeholders and shareholders need to understand. 

You need to ensure that all the financial reports are properly translated, and for this, you will need an expert crypto translate service as such type of translation requires both linguistic and crypt experts. Everything needs to be translated properly and with 100% accuracy, from income tax reports to balance sheets.

Also, you need to find a linguistic and digital currency expert that leverages the right kind of software as the high volume of figures in the financial documents makes them prone to human error. In such a case, only technology can help in maintaining 100% accuracy. 

Websites

When we talk about blockchain and cryptocurrencies, we know that geographical boundaries don’t restrict them. That’s why they are considered global currencies. But if you are dealing in the global market with a global currency, you need the local audience to understand your business in a better way. 

The only way to reach a wider audience on the digital platform is to use translation services for your website. The crypto translate experts will translate everything from the documents on your websites to the website copy, and then you will make more sense to the local audience. 

When choosing a translator for the localization of a website, it is recommended to choose a company with experience in translating with search engine optimization, as harnessing the power of SEO is as important as 100% accurate translation. 

Apps and software

If you are dealing in the cryptocurrency or blockchain market, you must have a dedicated app or software. But do you think that the English language-based app or software will be more relevant in crypto-dominant countries like Mexico, Russia, Japan, and China?

If you are looking to translate cryptocurrency, you must consider app and software translation since the company’s approach to providing the app and software translation will be based on your specific business goals. They can make the audience comfortable with the software from the very first moment of interaction as everyone prefers the local language. 

White papers

A whitepaper is a document released by the developer that explains the technology and purpose of the project. It explains how the cryptocurrency was conceived for prospective investors, highlighting its purpose. 

So, suppose you are launching brand new digital coins. In that case, you need to translate white papers with 100% accuracy. Inaccurate translations can prevent investors from investing in your company. That is why crypto translations even provide services for white papers. 

Insurance documents

Another important document that needs to be translated for a crypto or blockchain company is the insurance document. Since insurance documents include many financial jargons, they are not easy to deal with. 

You should never plan to take the insurance document translation into your own hands. Let experts translate them according to the language and the local context of the local language.

Need an express Blockchain and Crypto documents translation service?

New technologies can always result in apprehensions. Therefore, you should never add confusion with difficult to fathom and inaccurate documents and content. To keep things simple and clear, you need to convey your status, motive, and goal. For that, you must use blockchain and crypto document translation services. 

Unlike other fields of translation like legal, medical, or literary translation, blockchain translation is still a new kid on the block. Professionals should always handle whitepaper translation, ICO localization, website, and app translation. 

But you should never choose just any translation management company as the one dealing with cryptocurrency and blockchain translation should be well-versed in the digital currency realm. The professionals dealing in these kinds of translation need to be both subject matter experts and linguistic experts. That is why one should always choose a translation management company specializing in blockchain and cryptocurrency translation services. 

How will we help you?

At Into23, we offer an end-to-end translation service for every type of blockchain and cryptocurrency content and document. Whether you plan to localize your ICO or software, we encompass all. We have a vast network of skilled and certified translators who are not only linguistic experts but are well-versed in both cryptocurrency and blockchain. 

Here are some of the highlights of our world-class cryptocurrency and blockchain translation service;

All languages and content covered. 

We cover all the languages of the major cryptocurrency markets; we even cover every type of content related to cryptocurrency and blockchain. So, after choosing us, you won’t have to scour the internet for any other kind of translation service provider. 

Industry-leading technologies 

With our industry-leading technology, we can automate your translation project management, distribute the content to our translator and achieve 100% accuracy. 

So, the next time you wish to reach a wider audience in the crypto-dominating market, choose Into23 and localize every aspect of your presence to make processes seamless, profitable, and alluring. 

What is Translation Management?

Translation Management is the key to optimizing translation in a global business.

Any business that operates or is planning to do business in different countries should have a company-wide strategy for translation management, managing the translation demand within each business function to reach global business success.

A translation management strategy uses a combination of software tools, technology, and outsourced services to manage all the business translation needs. Software and technology automate repetitive tasks, increase collaboration and drive efficiency. A well-chosen translation partner will cover all the language combinations you need and can offer you an end-to-end solution that will integrate all your business functions into a translation platform that they manage for you so you can focus on growing your global business.

A business has 3 primary choices on how to manage translation:-

3 Translation Management options

1. Ad hoc translation management

Each group or department in the business takes care of their own needs, find their own suppliers and operate independently of each other. This is how most businesses are managing translation today. Companies have to deal with several agencies and ultimately, translations may steer away from an aligned business communication tone.

2. Internally built solution

The shared service concept has been around for a long time now with businesses choosing to build an internal shared service team to manage translations. Many large organizations such as Microsoft, Oracle, SAP, Alibaba, Huawei have built shared service centers for translation management. An internal shared service team acts as an in-house translation agency to the rest of the enterprise. The shared service center will typical either buy or build its own translation technology. It has an approved supplier list of external translation agencies. This model is effective in the largest global organization that spend in excess of $10M per annum on translation.

3. Outsourced translation management

Businesses can choose to outsource their translation management to an external partner, which operates as the translation shared service center for the entire enterprise. This is an effective solution for companies that have translation spend greater than $100K but less than $10M per annum. We call this outsourced shared service model, Translation Management as a Service (TMaaS).

Who needs a Translation Management solution?

The translation industry is a $46 billion industry that is being transformed by technology.

Today, translation technology automates workflows, quality assurance, and supply chain management. New machine learning innovation is rapidly improving machine translation capability. Keeping up with the latest innovations and best practices is challenging, especially when translations are not a core function of the business. By outsourcing translation management to a quality partner, you can expect that they will keep up with the latest innovations so that you don’t need to. They will integrate the latest technology solutions into your workflow so that you can benefit from this without you having to purchase and maintain expensive software licenses.

Do you operate in multiple markets that speak different languages?

If your business is planning to expand into international markets or you have already expanded but are struggling to manage your translation, you should consider a Translation Management solution. This will help you launch products or services across multiple markets faster and in a cost-effective manner as you leave the heavy lifting to a trustworthy translation partner, while you focus on overall business strategies.

Are your business functions optimized to go global?

Translation needs span across the business for any company serving customers who speak different languages. From sales & marketing to product management, to technical documentation and support services, to legal and HR, all business functions have multilingual content needs. Many companies take an ad hoc approach to the translation where each business function finds its own solution. If your business is launching new products or services in multiple markets or entering new markets, this may prove to be a non-optimized and cost-effective solution that may render your company more trouble than it’s worth.

What can you expect from a Translation Management solution?

  • 24/7 always-on translation services in any language
  • Customized workflows that connect all the different content types you have
  • Easy-access portal to easily track spend and translation progress
  • Customized reporting on translation spend and savings
  • Aligned business communications across all departments
  • Consistent & localized outbound communications to audiences of different markets

Be Global, Communicate like a Local

For your business to succeed in new markets, you need to engage with your local customers in their local language. An outsourced translation management solution can be the most effective way to do this as they would have the experience and expertise in entering different markets with a localized approach.

SMEs can enter new markets at an affordable cost

For SMEs, it has never been easier to enter new markets. A TMaaS makes this even easier. The TMaaS will understand your business, understand your product or service offering. They can then propose an optimized translation strategy for your business. For example, if a company wishes to enter the ASEAN, China or Indian markets, a strategic translation advisory would cover:

  1. Languages to focus on: A consumer business will have different priorities than a company focusing on B2B. A high-end luxury brand will have a different strategy for a mass-market product.
  2. How deep to localize for different markets? For some markets, customers will expect everything in the local language. For other markets, you may only need to translate some high-impact material or even consider transcreation.
  3. Translation strategy by content type: A typical business will have multiple different kinds of content, e.g. marketing material, legal agreements, website, product & service documentation, sales & marketing materials, support services. A managed translation service will devise the right workflows for each of these content types, such as transcreation services for marketing; and incorporating technologies to optimize these workflows at an optimal cost for the business.
  4. Translation delivery solution: Some companies will already have established translators they work with. A managed solution can bring these into the managed solution as well as building and managing a supply chain for the rest of your content in new languages to ensure all translation processes are streamlined under one a sole managing translation partner.

Into23’s Translation Management as a Service (TMaaS) simplifies being global. Our TMaaS makes managing content in multiple languages simple. We provide value-driven translation solutions to companies wishing to optimize their translation spend while they focus on their core activities. Our goal is to provide maximum business value to our clients helping them grow their businesses in international markets. A customer-first approach means our solutions are based on what will deliver the business results you need rather than being based on a particular technology solution or a particular workflow.

What is Translation Memory?

Want to know what Translation Memory is?

The explosion in content these days is driving increased demand for translation.  As globalization reduces the cost of entering new markets, this increases the demand for translation into more and more languages.  As the number of digital marketing and business channels grows, the types of content translators need to be able to work with multiples.

Computer Aided Translation (CAT) software and Translation Memory are essential tools that allow a translation agency to manage this complexity.

Professional translators use computer-aided translation software to translate.  A CAT software is a computer-aided editing software with a memory database called a ‘translation memory’, that stores previously translated content made by human translators. The translation memory sits behind the editor as an integrated database that stores the translation. This feature makes translating efficient and faster.

A translation memory is a repository of everything human translators have translated for a particular language, recorded in its respective database format. Each entry in the database is in the format of a source language sentence and its corresponding target language translation.  This translation memory is something that is built up over time as more and more content is being translated.

Any new content for translation is matched against this translation memory.  Any sentences in the new content that have already been translated are automatically translated and need not be translated again.  Sentences that have a small variation to a previously translated sentence can also be extracted so they only need a quick edit.  If the content contains many duplicate sentences then you only need to translate the duplicates the first time you encounter them, the rest will be automatically translated.

Content for translation can come in many different formats.  It can be in Microsoft Word, Excel or PowerPoint.  It can be a PDF.  It can be in Adobe InDesign or FrameMaker.  It could be XML content from a content management system or from an Android App.  It could be website HTML.

CAT tools convert different file types to a common file type that a translator works on. This means a translator does not keep licenses for all the different authoring software.  The CAT software will extract the content for translation, so this is all the translator sees, it hides any non-translatable parts so the translator can ignore these.  The translation memory is then sitting behind the CAT, continuously updating as the translator progresses through the content.

What is the difference between Translation Memory and Machine Translation?

A Translation Memory is a record of everything that was translated.  Machine Translation is automatically translating content using a Machine Translation engine like Google Translate.  Most CAT software now integrates with the major machine translation engines.  This gives the translator the option of using machine translation to create a first draft translation that they then edit.  If a translator is using machine translation, the usual sequence is to first leverage any previous translations and fuzzy matches from the translation memory, and only then to use machine translated to translate non-leveraged parts.  The CAT software will indicate which sentences come from the translation memory and which have been done using machine translation.

What is the difference between Translation Memory and a Glossary?

A Glossary is a bilingual list of key terms.  These can be common industry terminology, or it can be a list of key terms for a particular customer.  Glossaries ensure that key terms are translated consistently across all content.   In regulated industries, such as the pharmaceutical, legal or finance industries, using a glossary is vital to ensure terms are translated accurately and consistently according to industries standards.

What is Leveraging?

The first step in a new translation project is to analyze the content for translation to determine the number of words for translation.  This is where you see the value of using Translation Memory.  The CAT software compares the content for translation against the content in the translation memory.  Any content that matches something that was already translated will not need to be translated again. This reduces the cost of translation and will allow the translation to be completed faster.

What is Fuzzy Matching?

Fuzzy matching is the concept of finding sentences that closely match the sentence to be translated but may have some slight differences, for example, “It was raining in Bangkok on Tuesday”.  A fuzzy match might be: “It was raining in Tokyo on Tuesday” or “It was raining in Bangkok on Wednesday”.  The translation can be reused with some quick editing.  This improves the translator’s productivity, lowers the cost of translation and helps improve consistency.

What is 100% Matching? 

A 100% match is when a sentence for translation matches exactly to a sentence that was already translated.

What are Repetitions?

Some content has a lot of repeated sentences, for example, a questionnaire might have the same content across multiple choice answers.  CAT software finds these, and the translator treats them in the same way as a 100% match.  They are translated once; the repeated instances are then automatically translated.   This reduces cost, speeds up the translation and ensures consistency.

What are the advantages of a Translation Memory?

  • Productivity & faster time to market: The translator only needs to translate new and unique content, so the translation is done faster.
  • Cost Saving: As you only need to pay for unique content that has not been translated before, this will reduce the overall cost of translation. As you build up your translation memory over time, you will start seeing more leverage from the translation memory.  A typical business can expect to save between 36% and 90% of their translation cost by utilizing translation memory over time.
  • Improved ConsistencyBy ensuring that content translated once does not need to be translated again, you ensure consistency across different product releases or content types.
  • Training material for customized Machine TranslationCustomizing machine translation engines is the optimal way to get better output quality for a particular language. Your translation memory is a central store of all your translations.  Once you have a lot of content in your translation memory, you can use this to build custom machine translation engines that work best on your content.

How Secure is my Content in a Translation Memory?

Traditionally, translation memory has been a desktop tool used by translators.  This required sending files for translation directly to the translator by email or FTP.  In recent years, CAT software has moved to a cloud-based environment.  This improves security.  Translators no longer need to download files to translate them, they can work in a secure, online environment where access is controlled, and content cannot be downloaded.

Translation Memories as AI Content Stores

Traditionally, translation memories have just been used as stores of translated content.  Increasingly, businesses are seeing value in their translation memory data as a tool for training AI applications.  Machine translation is one example.  Companies can use their translation memory content to train machine translation engines, so they have their own customized engines that have been trained using their own terminology and translation style.  A customized machine translation trained like this will give more accurate results than a generic machine translation engine.

The Future of Translation Memory

Translation memory technology is well-established in the translation industry.  Improved machine translation output quality is increasing the use and acceptance of machine translation.  All major CAT tools now incorporate machine translation.

The future of translation memory will more tightly integrate machine translation and translation memory.  The most likely impact will be:

  1. Machine learning: Automatic and real-time customization of machine translation from translation memory.
  2. Auto-suggestions as you type: Similar to how Google auto-suggests for search as you type search queries.
  3. Subject matter detection: Machine translation works best when you use an engine that has been trained on a particular subject e.g. finance, insurance, automotive, e-commerce. CAT tools will detect the subject matter of content and select the appropriate machine translation engine to use based on this.

Your search for “Best Translation Agency in Hong Kong” ends here at Into23.

Translating Crypto: the key to a successful global ICO

Translating crypto documents will greatly expand the potential investor pool for your cryptocurrency launch.

These days as I see more and more ICO’s getting launched, and so is an need to market the product. Branding, PR and Marketing, community building are some of the key elements which make an #ICO launch successfully. Building and engaging a strong community is a prerequisite for the success of your ICO. In addition to that to build a viable and sustainable token economy, it is essential to present that by writing a well-defined white paper and business plan. The white paper is a professional document usually issued by a company which showcases objective and current data on a subject, such as its economic activities.

As companies become more and more internationalised, white paper translation services are increasingly in demand. Translation is a difficult task, mainly due to the length and technical complexity of such documents. Each white paper has its specificities, and any professional translation company must employ subject-matter experts to produce a quality translation. This institutional document is a reflection of the company as a whole, and thus it is vital to be on the ball when translating as even a small mistake can spell disaster for the company’s strategic decisions. Any company seeking to have its whitepaper translated should therefore carefully choose its translation company, as its image is on the line!

Bounty campaigns are a great way to promote your ICO but take care when using these campaigns to get content translated. Bounties are rewards for completed tasks: with the free availability of online translation services like Google Translate, you have no way of knowing if your bounty hunters have done a professional job or just used a service like Google Translate. Poorly translated content will make your ICO look unprofessional to native speakers of that language. You are probably better off not translating than translating badly.

Our recommendation: appoint a translation agency to manage all translation needed for your ICO: website, white paper, marketing content, social media posts. If you choose a good one, they can also act as your translation advisor.