TranslateMe (TMN)

What is TranslateMe

TranslateMe is a network of people and machines. The decentralised network will translate anything, such as text to speech recognition, and support all 6500 languages. We aim to bring you a decentralised network that provides results directly to the end user, in an effective peer-to-peer service. No middle man, no central point of failure. Data collected from millions of contributors will serve as corrections for all the language translations we currently have. This data collection step creates a hybrid between machine and man, to create the ultimate translation solution.

TranslateMe Unique Algorithm

TranslateMe has developed a unique approach to natural language processing. We will be the first to train an algorithm with its own corrections, by using the original data of a machine and comparing it the corrections of a human contributor. Typical neural networks require large amounts of data to affect the algorithm in a positive manner, but TranslateMe’s process is about 90% more efficient at correcting the machines output. This makes the data submitted extremely valuable and will enable TranslateMe to rapidly develop a commercial product.

The Problem

There is not enough data to support perfect machine translation, and the cost of translation is far too high. The quality is terrible on even some of the most popular language translation apps out there. Companies around the world are racing to build the best solution and centralize the service, holding ransom to the technology, and charging the end user excessively

The Solution

TranslateMe reduces translation costs with the use of Blockchain, and builds an ecosystem that rapidly improves the machine’s understanding of any language. With decentralising data collection and computing power, all contributions are pooled to a single growth point and the efforts are not divided but united. The result is higher efficiency, lower costs and the best possible quality in machine translation.

Economics of TranslateMe

TranslateMe uses Blockchain and cryptocurrency to allow for fair transfer of value between the end user and the nodes. Key contributions to the network will require resources that will fluctuate in value. Nodes and master nodes will perform the bulk of the computation required to complete a translation request.

These nodes will incur costs that must be overcome by the value of services on offer to ensure profit. A master node will contribute computation, internet bandwidth, disk space and other resources to complete the task. For the first 10 years, the mining algorithm will mint tokens based on the various services that these nodes provide. This will be influenced by many factors, but will be adjusted by a difficulty method to ensure equal and fair distribution.

The mining algorithm will subsidise the costs at 100% in year one, 90% in year two, and 80% in year three. This rate will continue as the project grows and is adopted by users that are prepared to pay for the innovative services.

This ensures a low-cost factor for the adoption period, encouraging service providers to use the platform. The gradual increase in the costs to the service provider will assist in a transition from a mining reward to direct remuneration.

End users and service providers willing to continue paying for the services will remove the need for mining reward in the future. Demand for the service will influence the value of a single token.

TranslateMe will be a superior translation platform and as a result create a premium price for its services which will be passed directly to the nodes supporting the system, creating a balance in transfer of value across the network between both parties.

9% of the funds generated from the end users will be issued to the development of the platform and ensure long term growth. The development of translation applications is still far behind where it should be. The real value it could potentially provide is still largely untapped.

TranslateMe will create a network that will compete with the central giants of the industry, similar to UBER replacing the taxi industry and Airbnb replacing the way accommodation works.

The power of decentralisation and collaboration will ensure a superior translation platform for the end user. The end user will enjoy maximum value, and the service provider will enjoy maximum profits.

TranslateMe Network Structure

These are registered users that contribute human input into the system in exchange for tokens. Node Translator: These are registered users specifically for TranslateMe validation purposes and serve large amounts of translated data. Their input will score higher.

These nodes will perform the bulk of the transactions and machine learning with GPU mining rigs for accelerated machine learning. They will serve as hosts for the physical data storage needed to store algorithm data and other server related tasks.

These devices will perform translation requests directly from laptops, tablets and phones.

An important part of the development will go into new software, and integration services into existing apps and platforms These are independent companies with developers that will help grow the use case of the platform. TranslateMe will contribute to official development companies that believe our network will serve a better product for the app or platform. Official partners will benefit from subsidised tokens to offer their product or switch their product from existing translation provider.

These companies are aligned with the development entity, but would have specific projects that require a unique focus and whilst they are similar to the development entity, it’s good to note that they play a slightly different role. These are companies that create new ideas or processes and use developers to implement them.

These individuals benefit from the combination of the TranslateMe platform and the APP or software created for better, seamless translation. The end user will contribute directly to the revenue model and consume products and services. In exchange for this they would pay as they traditionally do for any app or service they are willing to pay for. (Note: the end user is not required to use tokens, and this removes the adoption barrier of end user for crypto currencies).