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.

Take your Business Global and Get a Quote Now! 

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. 

Read our Blog here.