Blockchain technology is demonstrating its scope in a variety of everyday possibilities. Before each need arises a niche of opportunity to develop a proposal in which the adoption of this technology is fundamental. In these times of blockchain-based enterprises and ICO’s, the sector concerning translators and interpreters has not lagged behind. From the hand of the people of LangPie, an interesting proposal arrives with its pre-ICO, and about which we will talk here.
LangPie is a platform of translation services and interpreters in real time, based on blockchain technology. They present a decentralized market for online interpretation services by telephone based on blockchain technologies. In other words, LangPie comes to be an easy-to-use application that offers instant access to interpreter services around the world with the only requirement of having an Internet connection.
International travel and tourism are one of the largest and fastest growing industries in the world at the moment, hence the global need for interpreters and translators is fundamentally due to the natural language barriers to be overcome. Migratory flows are also increasing every year; in 2016 alone, about 5 million people permanently emigrated to OECD countries. The foreign population of the OECD countries is more than 120 million people. With such a large number of people traveling and migrating around the world, the issue of overcoming language barriers is increasingly important.
In this context the language industry and the translation market can be considered as a large and rich business that, despite the crisis of 2008, is growing at an average annual rate of 5.52 percent. Today, it is one of the fastest growing industries such as tourism.
LangPie is proposing a solution to the problems derived from language barriers, creating an application for smartphones, with an absolutely new method of providing interpreter services and establishing international relations and communications services. Although several companies already provide telephone interpreting services in the language market, their quality, realization and prices leave much to be desired, and in this LangPie considers that it has no direct rivals in the market.
Blockchain technologies are making payment processes secure and secure. In addition, they allow sustainable reduction of transaction costs, which LangPie largely leverages by setting the lowest commission in the language market of only 5% in the agreements among users. Instant calls, an advanced sorting system, web and mobile applications are only a small part of the total number of functions available to your prospective consumers.
The LangPie service generates its own token ecosystem; while a new service request is obtained, the platform generates a smart contract. When the required work is performed, the system automatically closes the smart contract, and the tokens are loaded into the client’s wallet and credited to the interpreter.
Pre-ICO and ICO Details
LangPie is launching its crowdsale in two stages: the Pre-ICO round and the ICO round itself. The money raised will be allocated between the original team, the indirect costs, the research and development department, the marketing campaign and the rewards campaign (the allocation percentage can be seen in their White Paper).
Throughout the crowdsale LangPie will sell 86 million tokens LGP – its native token -, and the reference price of 1 LGP is 0.10 US dollars. They have set themselves the objective of raising at least 150 thousand dollars during the pre-sale round and at least 1 million dollars during the ICO.
While the number of customers will expand, the amount of tokens will be reduced, which will create a greater demand on them – that is why the project is attractive for investment.
LangPie to promote investment activities is granting a 50% bonus to all early investors who purchase LGP tokens during the pre-sale round. You can also access more information in real time on the LangPie Telegram channel here.