Author: Iris Li
On June.18th, the Singapore LIC(Language Information Communication) Foundation announced the launch as the world’s first blockchain public chain for the language services industry – LIC.
Deeply combining with blockchain and distributed artificial intelligence technology, LIC is regarded as the public chain for the language service industry to solve long-term challenges under the centralised system. Integrating global translators, translation engines, linguistic talents as well as professional language institutions, LIC aims to form the language service basic equipped with translation capabilities and cross-language communication skills. Through interconnecting these abilities into each scene and even each chain, LIC, as the infrastructure in the blockchain era, will realise the great vision of ‘Chain the World in Your Language’.
Fully identifying the aim of translation which refers to information communication and collaboration, LIC will engage all linguistic talents, institutions and AI into the profit-based self-community via token to deep reach into people’s final translation need through the distributed artificial intelligence collaboration technology, which could support people to chain the world in their own language.
Dr. Peggy Peng, the founder of LIC, she stated,
The creation of LIC is a historical opportunity given by the era, since the rapid advancement of blockchain technology has begun to decentralise and then globalise the world. Language service are needed more than ever. The blockchain technology provides an effective way for breaking through the industry bottleneck caused by the weakly decentralised nature of language service. The language service and blockchain technology could be considered as a heaven-made match.
With high openness and rich ecological scene, LIC will inevitably lead to the significant upheaval in the language services field and become the language service ecosystem which is hard to reach under the centralised model. Apart from normal profits for all participants, LIC not only promotes their contribution value via deeply exploration, but also shares the value added via the development of ecosystem to maximise all participants’ value. LIC could quickly generate language resources globally to construct the new framework for the language service industry within the booming ecosystem. Moreover, it will empower globalisation of information dissemination and collaboration under different scenarios with infiltrating into as well as interlinking each chain. This is a value amplifier for token economy.
Victor Liu, the COO of the founding team, revealed that the founding team includes professionals of language service industry, AI experts and blockchain experts. Touching global resources and interlinking ecosystem chains will be the significant feature of LIC. LIC has started the community operation that generates global translators, linguistic talents of each area; meanwhile, LIC community will be launched soon and the global translation corporations will take the lead in becoming participants in LIC ecology.