LIC Chain Founder Dr Peggy Peng Predicts on Singapore National TV that Blockchain Based Language Economy Will Be Singapore’s New Economic Growth Point

November 14, 2018 - 03:42
LIC Chain Founder Dr Peggy Peng Predicts on Singapore National TV that Blockchain Based Language Economy Will Be Singapore’s New Economic Growth Point

SINGAPORE- MediaOutReach - 13 November2018 - During yesterdayevening's airing of "Hello Singapore" , LIC Chain founder, Dr Peggy Peng predictedthat the language service industry will be Singapore's new economic growthpoint, especially when basing this aspect on Blockchain Technology.  


The episode was adiscussion on Blockchain featuring Dr.Peng, alongside with Singapore ManagementUniversity's (SMU) finance professor, Hu Jian Feng.  


While discussing aboutthe topic of why make use of Blockchain Technology in language serviceindustry, Dr.Peng said, "The language service industry is naturallydecentralized because of its fragmented usage scenarios. Therefore no translationcompany can cover all scenarios and dominate the market. Overall, Blockchainand language service industry are a match in heaven because of their decentralizationnatures."


When asked about theimpact to Singapore brought by Blockchain, Dr.Peng answered, "Blockchain is a historicopportunity that Singapore should seize upon, just as it did in the past whenit grabbed the opportunity to become a shipping and finance hub which help it becamea developed nation within 50 years of independence.


"We are now in the Blockchainera, and Singapore should once again move quickly to cement itself as not justa Blockchain hub, but also as a global language information hub," said Dr.Peng.The reason is due to Singapore being a multi-cultural society with a bilingualeducation system.


With Singapore'sunique bilingual education, every Singaporean will have a chance to gettranslation jobs from around the world via LIC's public chain. As the public chainbrings global talents and jobs together, this will create plenty of jobopportunities for Singaporeans. If Singapore can be a global language hub, itcan also be a global information hub as language conveys information.


Not only that,talents in AI and Blockchain will be drawn to Singapore, thereby invigoratingthe Blockchain scene in Singapore. With language and IT talents moving toSingapore, this will help create a new economic hub for Singapore.   


About LIC Chain

As the firstlanguage public chain in the world, LIC uses Blockchain Technology and distributedAI to develop anecosystem and provide infrastructure for language service industry, aiming tobreak language barrier. LIC Chain is founded by Dr.Peggy Peng, an entrepreneurand educator. Before founding LIC Chain, Dr. Peggy Peng was a C-level executiveof Transn, China's leading language service provider.


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About Mediacorp's   "Hello Singapore"

 Hello Singapore

"Hello Singapore" isa live Chinese language television program which airs on Mediacorp Channel 8 at7pm daily from Mondays to Fridays. "Hello Singapore" addresses issues close tothe nation's heart and trending topics in Singapore, making it a localfavourite. Mediacorp is Singapore's largest media and entertainment company andthe nation's main broadcaster.