Cryptocurrency and blockchain technology have the potential to revolutionize the way we conduct financial transactions and transfer value, but in order for these technologies to reach their full potential, they must be accessible to a wide range of users. Language barriers can make it difficult for non-English speakers to understand crypto projects, which slows down the adoption of these technologies.
Automatic translation technology helps break down this barrier by providing real-time translation of user interfaces and documentation. This makes it easier for people from different parts of the world and with different languages to access cryptocurrency platforms and services. By crossing language barriers, automatic translation can bring more users to the crypto ecosystem.Â
Why Crypto Projects Need to Broaden Their User Base
Expanding the user base for crypto projects is crucial for the widespread adoption of cryptocurrency and blockchain technology. By expanding their reach, crypto projects can increase the potential impact of their technologies. However, gaining new users–particularly those who are non-English speakers–can be challenging because of language barriers. In fact, recent statistics indicate that English is the mother tongue of only around 25% of Internet users; the remaining 75% are non-native English speakers. So, crypto projects need to break down these barriers caused by language in order to make their services more accessible worldwide.
The Untapped Potential of Non-English Speaking Audiences
The potential of non-English speaking audiences can be observed in the growing adoption of crypto in many non-English speaking countries, particularly in Europe where countries like France, Spain, and Italy are seeing a high level of interest in cryptocurrency. But the trend does not stop there: crypto is also being increasingly adopted in developed countries in Asia like Japan and South Korea.
To contextualize, a recent study found that crypto adoption is more than twice as high in countries with lower English proficiency. Additionally, a survey by the European Commission has revealed that most of the respondents in non-English speaking countries are confident in their ability to use cryptocurrency and blockchain technology and would like to see more services made available in their language.Â
The Language Barriers Crypto Projects Face When Reaching New Users
Reaching new users can be challenging for crypto projects. One obstacle that crypto projects face when trying to reach new users is the lack of translated materials, such as user interfaces, documentation, and guides. Additionally, the discussions about crypto happen primarily in English, which makes it difficult for non-English speakers to participate in conversations on the topic and better understand the technology.Â
How Automatic Machine Translation Can Help Onboard New Users
Automatic translation allows you to automatically translate your content from the source language to another language using software or machine translation systems. Automated machine translation software can help crypto projects reach new users by real-time translation of user interfaces and other materials. The tool can be used to translate exchanges between different blockchains, to enable cross-chain communication and interoperability.Â
MT technology has come a long way since its creation, and services like Google (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT) are providing highly automated translations through Google Translate and Microsoft Translator. However, for more specialized translations that employ specific jargon and terminology, it’s best to use professional translation services that have experience with finance and crypto projects.
The Ethereum (ETC/USD) blockchain project has implemented automatic MT into its user interface, which has made it much more accessible to users worldwide and continues to increase its number of users from non-English speaking countries.Â
Automated Translation for Websites, White Papers, dApps, and User Guides
Through automated website translation, crypto projects can have multilingual versions of their site, which expands accessibility to a global audience and increases the number of people who adopt blockchain technology. The automated translation of white papers allows non-English speakers to fully assess crypto projects, expands market reach, and increases accessibility to users overseas.Â
This is important for expanding the adoption of cryptocurrency and blockchain technology worldwide. The automated translation of Decentralized Applications (dApps) allows more users access by providing translated versions in different languages, helping crypto projects expand their reach and tap into new markets. It is important for expanding the adoption of cryptocurrency and blockchain technology worldwide. The automated translation of user guides enables non-English speakers to access crypto projects, expand market reach and improve customer service.Â
Automated vs Automatic Language Translation
Automated language translation and automatic language translation are often used interchangeably, but there’s a clear difference. The automated translation uses pre-programmed rules to translate text, while automatic translation uses machine learning and AI. Automatic translation tends to be more context-sensitive because it uses statistical models that learn from large amounts of data. Automated translation relies on pre-programmed rules, which makes it less reliable, particularly in idiomatic language. Automatic translation technology has really evolved over the past few years, and services like Google Translate and Microsoft Translator are providing highly accurate translations, so it’s best to use automatic translation technology over automated translation technology to expand crypto projects.
Why Crypto Projects that Leverage Automatic Machine Translation Have a Competitive Advantage
In conclusion, it’s clear that automatic MT can greatly benefit the expansion of crypto projects. By providing the real-time translation of user interfaces, documentation, white papers, dApps, and user guides in different languages, crypto projects can make their services and materials more accessible to a global audience.
Crypto projects that leverage automatic MT can tap into new markets, expand their user base, and increase the impact of their technologies. Additionally, the ability to translate communication between different blockchains will allow for better interoperability and collaboration among different projects. Furthermore, providing customer support in different languages will lead to better customer retention and satisfaction.
All this makes it clear that crypto projects that leverage automatic MT will have a competitive advantage in the crypto ecosystem. It will be interesting to see how projects that use this tool come out compared to their peers in the years to come.
