OutReach - 13 November
2018 - During yesterday
evening's airing of "Hello Singapore" , LIC Chain founder, Dr Peggy Peng predicted
that the language service industry will be Singapore's new economic growth
point, especially when basing this aspect on Blockchain Technology.
The episode was a
discussion on Blockchain featuring Dr.Peng, alongside with Singapore Management
University's (SMU) finance professor, Hu Jian Feng.
While discussing about
the topic of why make use of Blockchain Technology in language service
industry, Dr.Peng said, "The language service industry is naturally
decentralized because of its fragmented usage scenarios. Therefore no translation
company can cover all scenarios and dominate the market. Overall, Blockchain
and language service industry are a match in heaven because of their decentralization
When asked about the
impact to Singapore brought by Blockchain, Dr.Peng answered, "Blockchain is a historic
opportunity that Singapore should seize upon, just as it did in the past when
it grabbed the opportunity to become a shipping and finance hub which help it became
a developed nation within 50 years of independence.
"We are now in the Blockchain
era, and Singapore should once again move quickly to cement itself as not just
a 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 bilingual
unique bilingual education, every Singaporean will have a chance to get
translation jobs from around the world via LIC's public chain. As the public chain
brings global talents and jobs together, this will create plenty of job
opportunities for Singaporeans. If Singapore can be a global language hub, it
can also be a global information hub as language conveys information.
Not only that,
talents in AI and Blockchain will be drawn to Singapore, thereby invigorating
the Blockchain scene in Singapore. With language and IT talents moving to
Singapore, this will help create a new economic hub for Singapore.
About LIC Chain
As the first
language public chain in the world, LIC uses Blockchain Technology and distributed
AI to develop an
ecosystem and provide infrastructure for language service industry, aiming to
break language barrier. LIC Chain is founded by Dr.Peggy Peng, an entrepreneur
and educator. Before founding LIC Chain, Dr. Peggy Peng was a C-level executive
of Transn, China's leading language service provider.
Find out more at
About Mediacorp's "Hello Singapore"
"Hello Singapore" is
a live Chinese language television program which airs on Mediacorp Channel 8 at
7pm daily from Mondays to Fridays. "Hello Singapore" addresses issues close to
the nation's heart and trending topics in Singapore, making it a local
favourite. Mediacorp is Singapore's largest media and entertainment company and
the nation's main broadcaster.