Our SME is embarking on a transformative project to create a decentralized marketplace for translation and language services using blockchain technology. This initiative aims to leverage smart contracts and decentralized finance (DeFi) to streamline payment processes and ensure transparent, fair transactions between clients and service providers.
Freelance translators, language service agencies, and businesses requiring translation services seeking secure and transparent transaction mechanisms.
Current translation service platforms lack transparency in transactions, leading to disputes over payments and trust issues between service providers and clients.
Clients and providers in translation services are eager for solutions that offer transparency and fair transactions due to increasing demand for multilingual content and a global client base.
If unresolved, the translation industry may face increased disputes and dissatisfaction, causing a loss of trust and reduced client engagement.
Existing centralized platforms like Upwork and Fiverr, which involve high commission fees and lack of transparency in transactions.
Our platform's use of smart contracts ensures that services are delivered before payments are released, providing a trust mechanism not present in centralized alternatives.
We plan to leverage digital marketing, partnerships with language institutes, and referrals through established translation communities to acquire users.