Quick Summary91 Investors read this
The Translation Service project’s idea is to connect translators to customers and facilitate transactions made between them via smart contracts built on the Ethereum Network. The project’s tokens will be utilized in the payment and purchase processes of translation services, whether text translation, video translation, translating works of a certain artist, personal documents, or other translation services. All of these services are to be free of charge without any commissions, fees, or paid subscriptions imposed on the translator or customer.
How to Invest
- How to invest: To invest in the Translation Services ICO, visit their website.
- Payment Accepted: ETH
- Token Price: 1 TRC = 0.00001 ETH
- The project is aiming to target both individuals and businesses in need of a translation service. The team will need to rely on effective marketing, which may not be practical with the lack of buzz around the project.
- The global linguistic market is expected to grow to $53 billion USD by 2020.
- Despite the growth that the market is expected to see, the project is offering a fairly niche service and it is uncertain whether there is a viable demand for the product.
- The project plans on gaining around 20,000 users by Q4 2019 but has no clear plan as to how it will gain those users.
- For the beta stage of the project, customers will have to go through the project’s Telegram channel to find a translator. Customers will select the translators through the Telegram channel and pay them in TRC. Translators will have to fill out a form and submit it through Telegram to be accepted as a translator and then will be added to the list. People will likely be hesitant to buy a new altcoin and find a translator through a Telegram channel when there are a significant number of freelance translators online.
- For the second stage of the project, an integrated website will be created that will connect translators and customers. The project will transition away from using its Telegram channel.
- The TRC token and platform will not charge the high commission and subscription fees that other translation platforms charge, but users will likely incur fees when exchanging for the TRC token.
- There are only three team members for this project. It is difficult to gauge their level of experience given the team member’s vague descriptions on the project’s website.
- All three team members are on LinkedIn, but there is little information available about them. All that is on their profiles is the current project and their education.
- CEO Hasan Seifuddin has over 20 years of experience as a translator in many different fields. He has been a certified translator for 10 years.
- Co-Founders Salah Seifuddin and Bahaa Hasan are both experienced in the field of cryptocurrency and work via the internet, according to the website.
- Saleh Seif (LinkedIn)
- Hasan Seifuddin (LinkedIn)
- Bahaa Hasan (LinkedIn)
- The project currently does not have an MVP. They are planning to launch their beta Q1 2019.
- The token has limited use cases and will only be utilized for peer-to-peer payments for translation services.
- The project does not really benefit from the use of blockchain technology.
- Token Supply: 10,000,000,000
- There is no registration process for the token sale; users just have to send Ethereum to the token address. Although the token sale went live at the end of August, there have only been three transactions with this address, and there is currently 0 Ether in the address’ balance.
- There is no buzz around this project. Translation Services only has 32 Twitter followers, 60 Facebook followers, and 65 Telegram group members.
- Using a Telegram channel as the platform for the beta is not likely to attract new users and may steer people away from the project.
- Overall, there is little incentive for users to use this platform as opposed to any other translation service, or a freelance translator. There is little incentive for translators to join the platform as well because of the lack of buzz surrounding the project.