Breaking News: The World’s First Language Service Industry Chain Officially Released in Singapore

In June, the Singapore LIC Foundation announced the launch of the world’s first public blockchain for the language services industry – LIC (short for Language, Information and Communication).

The foundation will promote the construction of LIC ecology around the world to realize the grander mission —— “Chain the World in Your Language”.

The language services industry started to undergo dramatic changes, characterized by a growing need for more languages, a shift to more dynamic environment, and user-centered content origination. In this rapidly-changing environment, the common practice turns out to be subpar.

“The creation of LIC is a historical opportunity that adapts to today’s world,” stated by Dr. Peggy Peng, the founder of LIC

Combining blockchain and distributed AI technology, LIC provides an effective way to break free from the traditional model that emphasizes centralization. It underpins many of the ways people interact and empowers information dissemination and collaboration under different scenarios. LIC tabs into unrealized value in the token economy.

In today’s open and rich circumstantial scenes, LIC will become the infrastructure of language services and inevitably lead to a revolution in the field. It brings together global translators, professional linguists and LSPs to build the underlying framework and a language services ecosystem. This comprehensive collection of global resources will kick start a new epoch of language services practices.

Victor Liu, the COO, revealed that the team includes experienced practitioners in the field and professional experts skilled in AI and blockchain technologies. LIC community will be launched soon and the global translation corporations will take the lead in becoming participants in LIC ecology.