The Neo Global Development (NGD) team has welcomed TranslateMe Network into the new N3 Early Adoption Program, a program to jumpstart high-potential projects within the thriving Neo N3 ecosystem. This partnership with NGD will provide TranslateMe Network with funding and technical support to foster growth of the company’s blockchain-based instant translation service.
TranslateMe Network’s service uses a trustless protocol that leverages machine translation and blockchain technology. This service uses machine learning and human validation to translate content. Human validators can suggest improvements, review each other’s edits, and vote on the most accurate translations.
TranslateMe Network is working to solve the problems that plague the fast-growing, $40 billion-plus USD translation industry: Machine translation is expensive and of poor quality, and it supports only 1% of the world’s languages. At the same time, human translators have had to settle for one-off payments for their work, and customers and businesses in need of translators have lacked a way to verify the quality of potential translators. TranslateMe Network’s disruptive platform will change that:
- Higher quality at lower cost: TranslateMe Network says its platform offers a market advantage because of its low costs and incentive-driven machine translation algorithm that learns from human corrections. Content translated through the network has a reported 99.9% accuracy rate.
- Passive income: The company is building a sophisticated ecosystem to allow millions of human translators ownership of their work, enabling them to earn passive income on any revenue generated by TranslateMe Network machine translation in its network. TranslateMe Network has built a validation pipeline for the data generated by human translators and can issue digital representation of this data in the form of tokens.
- Validated identities: The pipeline ensures that high-quality translation is maintained by creating a digital identity for each translator, linking the individual to the work they complete in the TranslateMe Network. The resulting reputations separate low-quality translators from high-quality translators. This functionality will be available to integrate into third party freelance platforms, providing a validation service for customers and businesses seeking to check the quality of potential translators.
The Neo N3 and TranslateMe Network partnership
TranslateMe Network joined the Neo ecosystem in 2018, selecting Neo for its decentralized and strictly governed network and the collaborative community support that the translation company wanted to help it meet its goals.
Now, TranslateMe Network is exploring the many features of the N3 chain that will help make it possible to build the world’s first blockchain-based ecosystem for machine translation and provide a mechanism to verify the identities and confirm the experience of human translators.
N3 will provide TranslateMe Network with a secure way to store the data in their network and reward translators for their contributions. N3’s multi-language code support makes it easy for the TranslateMe Network developers to easily review and assist in development. A smart contract on N3 will handle the rewards of translators, minting tokens as data is validated.
The translation company is also excited about N3’s native oracles to bridge off chain data with the TranslateMe Network pipeline, decentralized storage to temporarily store validated data that’s still in the processing stage of data, and other key features.
N3 will enable the TranslateMe Network team with tools to move crucial processes into a smart contract without sacrificing functionality. The company uses suggestions and voting in a consensus method to ensure that they collect the best data and, once the data is verified, use it to improve their machine translation models. Ultimately, every correction improves the quality and increases the value of TranslateMe Network’s offering as a commercial machine translation solution.
“The Early Adoption Program was launched to encourage more new projects to participate in early development using Neo N3,” said Head of Neo Eco-Growth, John Wang. “During our three-year-long collaboration, Neo has provided the ideal blockchain platform for TranslateMe, and TranslateMe has developed rapidly and performed well. We value working with enthusiastic and driven teams like TranslateMe Network, who are committed to exploring and pushing the boundaries of blockchain technology. Together with TranslateMe Network, we look forward to developing new business innovations while implementing novel ideas to achieve the smart economy of tomorrow.”
“N3 is the perfect partner chain for us,” said TranslateMe Network founder, Ryan Lloyd. “With the power of the comprehensive features of the N3 blockchain and support from the N3 Early Adopter Program, we have the technology and resources we need to succeed in creating a truly disruptive machine translation solution for the internet.”
Learn more
Visit the TranslateMe Network’s website: https://translateme.network/
Follow TranslateMe Network on Twitter: @translatemenet
Neo official website: https://neo.org
NGD N3 Early Adoption Program: https://neo.org/eco#earlyadoption
Follow Neo on Twitter: @Neo_Blockchain
