ICO White paper translation, and ICO translation for Marketing. Initial Coin Offering, is unchartered territories for many, bringing with it a whole new meaning to the term “digital marketing”. With more than 1,000 cryptocurrencies currently listed on CoinMarketCap and new startups launching daily, we take a look at what successful coin launches have done.
2021 has seen an explosion in interest in blockchain technology worldwide thanks to the NFT boom and the record-setting highs of Bitcoin valuation, compelling projects to heavily localize their documents for different market regions around the world to capture valuable market share.
While blockchain has now entered the media spotlight, it is still a relatively new concept and technology. In addition, with its variety of use cases blockchain documents typically cover a wide range of fields.
This means unlike other more established fields of translation, blockchain translation requires deeper levels of research and expertise to ensure translations are accurate and appropriate.
HI-COM understands the various intricacies involved with translation and localization for blockchain. As a certified translation agency operating in China specialized for digital marketing, we are experts at helping projects reach audiences from around the world.
ICO Marketing – the New Frontiers of Marketing
Marketing for an ICO or Initial Coin Offering, is unchartered territories for many, bringing with it a whole new meaning to the term “digital marketing”. For these new technologies, there are few marketing specialists. There are more than 1,000 cryptocurrencies currently listed on CoinMarketCap with new startups launching daily, so one needs to find their point of difference to stand out from the growing pool of cryptocurrency startups.
Needless to say, marketing to bitcoin investors is not akin to marketing other products or services. The audience is far more nuanced, diverse and skeptical, and the marketing tools and strategies will not be your typical Facebook promotions or billboard advertisements.
Rather, your White Paper, the marketing medium of choice for the bourgeoning cryptocurrency industry, will be the critical marketing tool. It will be the mouthpiece of your company and the central marketing tool that will instantly gain or undermine your credibility. The importance of how you draft your White Paper and how to distribute it to investor bases can determine the success of your ICO.
What Kinds of Blockchain and Crypto Documents We Translate
In today’s globalized online environment, it’s imperative to offer a multilingual website. With your blockchain project being a digital product, the website it most likely any user’s first interaction with your project. Readers from around the world should feel at home reading through your website, and clearly understand your project’s goal.
HI-COM’s translation and localization professionals have extensive experience in ensuring every language offered on your website is clear and concise, localized for each target market. We understand that for readers, the professionalism displayed on your website is a reflection of your project’s credibility. In addition, we specialize in multi-language SEO optimization for websites, helping your audiences find their way to you no matter what language they speak.
Apps and Software
For any digital product, ease of use is key in retaining users. After dedicating time and effort into crafting intuitive UI and instructions for your app or software, ensure that it translates over in every language you support. Localizing your apps and software is crucial for thriving in foreign markets.
HI-COM’s localization professionals are native speakers of their target regions, providing app and software localization that keeps your project’s user experience intuitive in any cultural or linguistic context.
It’s now time to sell your blockchain project to the world. By appealing to investors on a global scale, you will increase the likelihood of success for your project’s ICO. Localizations that resonate in the native language and context of your target demographics will be a key determinant for your ICO’s success.
As experts in digital marketing and localization services, HI-COM’s extensive experience can help you design the perfect multilingual ICO campaign. Utilizing region specific strategies for each localization will allow your investors to feel like you are as invested in them as they are in your project, increasing investor confidence.
Fintech, as one of blockchain technology’s first use-cases, is a mature market for blockchain projects. As a digitally secured accounting ledger, blockchain technology has revolutionized the industry, with governments to major corporations working on developing their own digital blockchain currencies.
With cross-border trade and finance increasing in scale and volume, the translation of financial reports has become an increasingly important component of fintech blockchain projects. HI-COM’s network of professional financial translators are well experienced in the field and uphold professional values of strict confidentiality around sensitive documents.
The insurance industry is another major area where blockchain technology has proven use-cases. Blockchain allows for traceability in record keeping, verification of coverage, and smart contracts for automating claims. With the digital sphere becoming increasingly borderless, there is increasing demand for insurance document translation services by blockchain projects.
As a certified legal translation agency, HI-COM offers professional worry-free legal translation services for documents such as insurance documentation. Our network of professional legal translators from around the world follow stringent protocols for data security and privacy, guaranteeing both quality of services and protection from data leakage.
White papers are the key document for any blockchain project. They can be seen as the mission statement or founding paper for the project. They describe not only the technical specifications of the blockchain itself, but they provide the philosophical arguments for the merits of the project itself, delving in depth into the context of the industry the project is aimed for.
As such, they are not only one of the most important documents to translate, but also one of the most challenging. Requiring blockchain technical fluency in both languages and a deep familiarity with the target industry, white paper translation and localization should only be carried out by professionals with extensive experience.
What is a White Paper?
A White Paper is a concise yet highly structured and technical report, that is informative and persuasive in its content. It typically conveys the company’s background, technical model and methodologies, and introduces the personnel behind the company, their credentials: why you should trust them with your money.
A well thought-out and appealing White Paper will be critical to a successful Token Sale and serves as the ‘roadmap’ to what the company will do, once it reaches different phases of funding through its tokens being traded on the coin exchange. There are more and more resources and articles online regarding how to draft an effective White Paper.
Is There a ‘Typical’ ICO White Paper?
From what we have seen, this appears to be the typical structure:
Setting the scene
- A brief history and overview of blockchain
- A brief history and overview of the industry your company is in
- Clear and concise explanation of why your company is needed in the world
Explain your ‘how’
- Clear explanations of how you will achieve your goals
- Diagrams and modelling of your platform architecture, technology used and methodologies
- Introduce yourselves
- After all the diagrams and equations, this is where you get human. The team page is where you prove your credibility based on your team member’s backgrounds, experience and resumes. Your ability to boast about the credentials of supporters and early investors will be the persuasive pull for many investors
Map out before you translate ICO White Paper
- This is where you explain in more micro-terms why you need the funding and what steps you will take using the money invested and how it will be applied (e.g. Legal, Operational, Marketing)
- Set out a roadmap of milestones so investors know the schedule you are working towards
Disclaimers and Risk Warnings
- This probably needs no explanation. Make sure you have consulted with your legal team to ensure this section is sophisticated and accurate in law, but not overly legalistic. A well drafted Risk Warning section will reinforce your credibility and will give confidence to potential investors.
Here is a list of White papers to get you inspired:
Samples of White Papers:
Defi stands for decentralized finance, an umbrella term for fintech blockchain projects.
NFT stand for Non-fungible token, an application of blockchain technology for tracking ownership of digital property.
What Languages to Translate Your Blockchain Documents to in 2021?
HI-COM has ranked the top languages to translate your blockchain documents to in 2021:
In 2021, Germany passed new legislation to allow investment fund managers to invest up to 20% of their portfolio in crypto.
As another EU country friendly to blockchain and crypto, France has a thriving blockchain industry thanks to its open support of the technology since 2016.
According business consulting firm IDC Spain, 11% of businesses already use blockchain technology in the country.
Home of the Dutch Blockchain Coalition, a collaboration between the Dutch government, and industries and education institutes to grow increase the country’s competitiveness in the blockchain sector.
Not only is crypto tax free in Portugal, but in 2020, the country established Technological Free Zones to directly incentivize blockchain technology development.
Russian, Japanese, Korean, Chinese, Indonesian, Arabic
These are all important languages for blockchain document translation as these are mostly non-English fluent countries with mature and developed crypto and blockchain communities.
Polish, Czech, Romanian, Turkish, Thai, Vietnamese.
Similar to the runner up countries, most residents of these countries are not fluent in English, but they have rapidly developing crypto and blockchain communities.
Where Does China Sit in the Cryptocurrency World?
From an official point of view, China is very against cryptocurrencies and the Chinese government has prohibited its citizens from investing in crypto companies. However, there still remains a significant Chinese population that are native Chinese speakers while holding foreign passports, so one should not overlook the benefit of translating your White Paper to Chinese.
China is a country that is rapidly developing, extremely QR code and mobile payment savvy, and home to a large population of early adopters; if not for the government prohibitions, China would arguably be the ‘perfect’ crypto investor base and the place to market to. We asked BANCA’s CEO Linda Chen why we are seeing more of an uptake in crypto in Asian countries, as opposed to UK or Europe (putting to one side the in-country regulations). Ms. Chen replies with a small smile: “it’s because Asian people are betting people. People are more likely to take risks here”.
Regardless of the region, the world over one will find risk-takers keen to invest. Investing time, creativity and language support to your White Paper is one critical marketing move that crypto or blockchain startups cannot afford to miss.
The author has no affiliations nor investments with any of the companies mentioned in this article. Despite being Asian, she is not a betting person.
HI-COM is a multilingual translation agency dedicated to providing professional translation and interpreting services to companies all over the world. Working in over 40 languages, HI-COM is the localization partner for hundreds of companies and brands. Contact us today for your free consultation!