WHY & HOW
|The Market Problem|
|The current market for translation services is worth USD 50 billion a year and drives sales of USD 11 trillion worth of global manufactured goods.||There will be 8 billion IoT devices by 2020, and 40% of the share of value of these devices is enabled by cross-border interoperability.||People are twice as likely to press the buy button if it is in their own language, and yet still more than 99.99% of all data on the Internet is only available in one language.|
The Market Solution
#Scalable #Sustainable #Multilingual
The Exfluency Language Ledger is a marketplace that facilitates the buying and selling of multilingual communication. Synergised by blockchain technology and the XFL, it empowers linguists to generate revenue as part of a strong community, and gives buyers access to Fit-for-Purpose translation, quickly and at extremely competitive prices.
Holding XFL in your wallet gives access to the marketplace, its functionality, and the benefits it provides (both for sellers and buyers).
The overview below shows how the XFL works at the core of the transactional process. In brief, every creation or improvement of the Community’s linguistic data is rewarded with tokens; every request for professional services by clients is paid in fiat.
What makes Exfluency unique for sellers of language (i.e. Miners, Polishers and Enhancers) is that they are paid in language tokens (XFL) for all the language assets uploaded, validated or improved on the platform.
The benefits for Buyers are many:
|•||Data is secure|
|•||Translation will be significantly cheaper and delivered faster|
|•||The Buyer is awarded a share of the token value generated by new linguistic assets created in the text enhancement phase and thus also becomes a member of the Community|
|•||Language ceases to be perceived as a cost centre|
|•||More and better multilingual communication will drive growth for your organization|
|•||The self-regulating Community will standardise quality at a high level|
|•||The social impact will be immense – people will communicate better; endangered languages might even be revived|
|•||Personal data remains the property of the individual|
|•||Full respect for GDPR and the anonymisation of data|
|•||Linguistic data remains the property of the Community|
|•||Companies or groups of members can create confidential Gated Communities, e.g. to enable supply chain collaboration on confidential projects|
The platform is founded on Blockchain Technology. Decentralised, complete traceability, and the tracking of usage is backed by a matchless level of security to guarantee safe, simple and fast transactions.
Exfluency’s experienced team of blockchain architects and programmers partner up with a similarly strong team on the language side to link blockchain to the very latest Language Technology to best leverage the Community’s linguistic intellectual property. Powerful API allows other platforms to plug-in and similarly exploit Exfluency language assets.
The Neural Problem
Neural Machine Translation (NMT) continues to improve in leaps and bounds, but there’s a problem – a very human problem. Just like the real thing (your brain), NMT tends to remember funny little details from its data set. Huge amounts of data can be undermined by a handful of fake news and, suddenly, expletives appear out of nowhere – or the world is adjudged to be flat.
In short: No amount of big data can make up for bad data.
Gatekeeper NMT solutions owned by some of the world’s largest corporations trawl the Internet for linguistic data and, as we know, not all of it is good. They then add your data to the stack, just for good measure, and serve up a cocktail of brilliant and awful.
Conclusion: if NMT is to help us communicate better and faster in a multilingual world, the training data has to be of a high standard. Nor do we want language to belong to one or two businesses. Language belongs to the peoples of the world.
The Neural Solution
To create the best NMT, you need the best training data for your engines – and a means of leveraging the results produced by the engines to operate with a process of continual improvement.
By actively encouraging Language Miners to have their data validated by Polishers, Exfluency rewards the Community for tolerating only the best. Nor are the results left to the computers: Enhancers, working with the Language Communicators, take the results up to an even higher level by either issuing Human Parity Certificates, to computer-generated texts or by correcting the document before feeding this validated data back to the Linguistic Data Repository to further improve the quality of the NMT.
Human parity is not possible without human involvement.
Last, but not least, all the linguistic assets belong to the Community – to the thousands of people who have invested their linguistic talent in the data set. Real wealth is hard-earned knowledge reaped over extensive time and, rather than letting corporate gatekeepers reap the monetary benefits, Exfluency aims to reward linguaphiles for enabling communication gateways and highways to global commerce and dialogue.
The Business Team
A dynamic actor in the language industry for 30 years, achieving particular success as CIO
at TextMinded (2012-2017). Always active in the community, Robert was co-founder of
the Word Management Group (1996-2006), the TextMinded Group (2007-2013), and the
Nordic CAT Group (2011-2013). He served four years (2013-2016) on the Board of GALA
(two as Chairman), and four on the Board of LT-Innovate (2015-2018). A known industry
speaker on the need to embrace innovation and change.
CEOA dynamic actor in the language industry for 30 years, achieving particular success as CIO at TextMinded (2012-2017). Always active in the community, Robert was co-founder of the Word Management Group (1996-2006), the TextMinded Group (2007-2013), and the Nordic CAT Group (2011-2013). He served four years (2013-2016) on the Board of GALA (two as Chairman), and four on the Board of LT-Innovate (2015-2018). A known industry speaker on the need to embrace innovation and change.
BUSINESS MODEL CREATORAnna is a Change Maker with extensive experience in business model design, transformation and shaping. A Transformation Leader with wide-range experience in designing and managing complex change processes. Business model creator, developing and implementing strategies around company growth and mergers and acquisitions.
DIRECTOR FOR MULTILINGUAL RIGHTSFounder and CEO of Mayflower Language Services, India, and with almost 20 years of experience with translation, cross-cultural communication, marketing, software localization and entrepreneurship, in different countries. Madhuri has an excellent perspective of the challenges faced by businesses worldwide – and valuable insights into how they can be overcome. Madhuri works with localization automation, e-learning, entrepreneurship, Artificial intelligence, machine learning, and IoT..
GERT VAN ASSCHE
DATA ENHANCEMENT EXPERTGert is a veteran innovator in the language services industry, helping companies to invent, build and implement scalable translation solutions for more than 20 years. He is co-founder of Symbyonics, a company focused on improving the efficiency of machine-mediated labour markets while embedding Fair Trade principles at the boundary between humans and machines. Gert is also the Managing Director of Datamundi, a company specialized in measuring the intelligence of neural networks and creating productivity technology on demand.
Her key clients range from technological startups, mobile application and computer games creators
to AI developers. She negotiates investment agreements with VC/PE funds and helps early stage companies to develop their businesses.
She offers legal advice and support with various forms of business financing from issue of shares and debt instruments (bonds),
through mezzanine financing, as well as prepare IPO and introduce them to stock exchange (including NewConnect).
Recently, she has extended her business experience in the field of crowdfunding and ICO advisory.
ATTORNEY-AT-LAWHer key clients range from technological startups, mobile application and computer games creators to AI developers. She negotiates investment agreements with VC/PE funds and helps early stage companies to develop their businesses. She offers legal advice and support with various forms of business financing from issue of shares and debt instruments (bonds), through mezzanine financing, as well as prepare IPO and introduce them to stock exchange (including NewConnect). Recently, she has extended her business experience in the field of crowdfunding and ICO advisory.
EXECUTIVE ADVISORJochen is co-founder and CEO of Coreon, the most advanced SaaS solution for multilingual knowledge systems. He is CEO of ESTeam AB, a provider of language technology and semantic solutions to EU organizations and corporations. He is also the current chairman of LT-Innovate, the Forum for Europe’s Language Technology Industry. Jochen has a software development background and grew his first company, TRADOS, to the world leader in translation memory and terminology software. Founded in Stuttgart, TRADOS had offices on three continents and was headquartered in Silicon Valley, when the company was sold in 2005 for USD 60 million. In 2006 Jochen founded Metaversum, the inventor of the virtual online world Twinity and was its CEO until 2010. A well-known, internationally respected software executive and serial entrepreneur, Jochen serves on boards and is mentor/angel for several start-ups in Berlin.
CFO at ExfluecyBartosz has many years of experience in the realization of comprehensive projects in the field of investment banking, mergers and acquisitions, non-public and public issue of shares and bonds, business valuation, management buyouts and leveraged buyouts, transactions with strategic investors, financial institutions, funds, PE/VC funds and business angels.
CHAIRMAN OF THE BOARDKrzysztof is dedicated to developing new ways of doing business by following his life values: flexibility and transparency. He established his first translation brand, Spectraling in 2009, which soon became part of the Summa Linguae Group. As CEO of Summa Linguae, Krzysztof has developed a unique business model based on a mix of organic growth and mergers and acquisitions. He took the company public after six years and, to-date, has successfully closed eight acquisitions..
The Development Team
CHIEF SYSTEMS ARCHITECT
Proven, seasoned (20 years) CTO and Software Engineering Manager. Built and
successfully exited a semantic text processing start-up in Silicon Valley. Designed
and implemented software solutions for Swiss banking domain, risk scoring analysis
software, lending solutions, social network with 330 million userbase (1,000+ servers),
and digital content distribution network for 95% of cinemas in Switzerland. Technical
and product advisor to funds, helped investing in 50+ projects (up to >25x ROI). Jaromir
has been a judge, mentor, and speaker at 50+ start-up events.
CHIEF SYSTEMS ARCHITECTProven, seasoned (20 years) CTO and Software Engineering Manager. Built and successfully exited a semantic text processing start-up in Silicon Valley. Designed and implemented software solutions for Swiss banking domain, risk scoring analysis software, lending solutions, social network with 330 million userbase (1,000+ servers), and digital content distribution network for 95% of cinemas in Switzerland. Technical and product advisor to funds, helped investing in 50+ projects (up to >25x ROI). Jaromir has been a judge, mentor, and speaker at 50+ start-up events.
Experienced Software Developer working for variety of clients in domains such as finance (Lord, Abbett & Co. LLC), automotive (Mercedes/Daimler AG), and Supply Chain Management (Zooplus AG). Highly involved in the DLT/Blockchain and cryptocurrency space since 2011 as a consultant and advisor. Currently Blockchain Platform Developer at KodakOne (KodakOne). Participant, speaker and organizer of conferences such as Blockchain Next and IT Akademia j-labs. Co-founder of Crypto@Cracow – one the biggest meetup group in Poland dedicated to Blockchain and cryptocurrencies. Thomasz has arranged workshops and held presentations for multiple organizations including the Department of Strategy of PGE (Polish Energy Group), the Polish Ministry of Digital Affairs, the Frankfurt School of Finance & Management, the Brown Brother Harriman Bank, and the National Bank of Cambodia. He is a member of the “Blockchain/DLT and digital currencies” workgroup lead by the Polish Ministry of Digital Affairs. Technical Adviser for multiple Blockchain/DLT-related companies including: Buddy (https://token. buddy.works/), Arteia (https://angel.co/arteia), Memorandum Capital (https://www. memorandum.capital/), AIAR (https://aiar.com/), and Callpage (https://www.callpage. io/)
Blockchain/DLT business analystA passionate FinTech professional with more than six years of practical experience across Financial Services and Financial Technology sectors acquired in two world-class investment banks, and a boutique software company that develops multi-tier, serviceoriented asset management software using the latest programming technologies. Proven skills in the areas of business analysis, functionality design, market research, and requirements gathering. Blockchain/DLT business analyst and advisor with indepth financial industry knowledge for companies from different origins (Finance, IT, Administration). Co-founder of P2P.Systems, a blockchain consulting company that serves geographically and sector diverse clients. Proficient in the latest tech and capital markets regulations (GDPR, AML IV, MiFID II, PSD2, UCITS).
Highly skilled in Solution and Technical Architecture, Analysis, Design, and Development. 18 years of experience in Java, Java EE, .NET & Web technologies in the Telecom & Web industry working with various service providers, element manufacturers, a telecom consortium and an education board. Extensive experience of working with remote teams in large projects, and alongside client-side architecture and design teams. Well versed with multiple telecom OSS areas: Service Assurance, Service Provisioning, Service Activation, Order & Inventory Management, Integration, Mediation, Workforce Management, as well as with MIS systems.
BLOCKCHAIN AND CRYPTO ADVISOR
Ian is a serial entrepreneur, investor and consultant with business experience from
around the world. A leading expert in Bitcoin, Blockchain and Crypto industries, Ian is at
the very heart of revolutionizing the financing industry across the globe and currently
consults and advises for a range of multi-million dollar companies.
BLOCKCHAIN AND CRYPTO ADVISORIan is a serial entrepreneur, investor and consultant with business experience from around the world. A leading expert in Bitcoin, Blockchain and Crypto industries, Ian is at the very heart of revolutionizing the financing industry across the globe and currently consults and advises for a range of multi-million dollar companies.
CEO MANTHAN SYSTEMSCEO at Manthan systems, India, one of the leading contenders in analytics business solutions for communicator industries worldwide, and among the few Indian companies that can boast an analytics portfolio relied upon by several Fortune 500 companies. Manthan is Atul’s fourth successful venture after MicroTrack, Cybertrek and Net Kraft. A known voice on technology issues, Atul’s views on analytics and the communicatorization of technology are widely acknowledged and sought after.
Whitepaper Advisory Board
ANNE-MARIE COLLIANDER LIND
Anne-Marie is a recognized force in the global language industry landscape. She has
spent more than 25 years helping multinational organizations solve their language issues,
serving in executive sales and management positions at leading service, technology,
and market research companies. Currently, Anne-Marie is the CEO of Inkrease,
a management consulting company based in Sweden that assists companies in their
growth and development strategies. A sought-after speaker, Anne-Marie is also engaged
as Marketing Director at LocWorld and the co-organiser of the Nordic Translation Industry
Independent consultant and thought leader in the translation industry. Aims to change the current translation ecosystem by bringing agile processes and language technology to multilingual content creation. Academic background in Computational Linguistics and Machine Translation. 15 years’ experience in the translation industry; former CCO and Innovation Director at Concorde (now Livewords) in the Netherlands.
DIANE M. MCAVEENEY
Whether launching a legal music download service or leading digital and language agencies to growth and profitability, Diane brings insight on content, product, and service design. Her acumen for business strategy, corporate development, sales, and operational excellence is legend. Diane holds a B.S. in Mass Communication from Emerson, winning an Evvy award for Most Creative Programming.
LUDWIK SOBOLEWSKIPresident and CEO of the Warsaw Stock Exchange from 2006 to 2013, and CEO of the Stock Exchange in Bucharest from 2013 to 2017, Ludwik adds to Exfluency a level of know-how and experience in capital markets that is second to none. A seasoned lawyer and economist, he adds his considerable voice to the growing movement backing blockchain-driven initiatives.
RENATO BENINATTORenato has served on the executive teams for some of the localization industry’s most prominent companies. He develops strategies that drive growth on a global scale. He specializes in making companies successful in global markets and in starting businesses that span across borders. His expertise combines sales, marketing, content strategies with P&L responsibility, having helped companies dramatically increase revenues in short periods of time. A frequent speaker at industry events and universities around the world, the author of three books on global business, Renato founded Nimdzi to provide insights to investors, analysts, buyers and suppliers of Language Services.
PROJECT DESCRIPTION: Marketplace for multilingual communication
INDUSTRY: NMT + Human Translation, Artificial Intelligence, Machine Learning
PRODUCT STATUS: Initialised
Please note that Exfluency GmbH will neither offer nor sell to you, and you are not eligible to purchase any XFL in the Token Sale (as defined herein) if such Token Sale is prohibited, restricted or unauthorized in any form or manner whether in full or in part under the laws, regulatory requirements or rules in the jurisdiction in which you are located, at the time of your intended purchase or purchase of the tokens pursuant to this agreement.
TOKEN UNIT: Exfluency Token
ROLE OF TOKEN: Utility
BLOCKCHAIN PLATFORM: Ethereum
TOKEN STANDARD: ERC20
EMISSION RATE: Fixed supply. No issuance after the ICO. Unsold tokens will be burned after the crowdsale (more details below).
Token sale: the Details
SOFT CAP: USD 7,000,000
HARD CAP: USD 30,000,000
ICO START DATE: 1 August 2019
ICO END DATE: 31 December 2019
TOTAL TOKENS MINTED: 3,000,000,000 (3,000 million)
TOKENS ON SALE (private + crowdsale): 1,500,000,000 (1,500 million)
TOKEN BASE PRICE: XFL 1,500 = ETH 1
TOKEN SALE METHOD: First come, first served
ACCEPTED CURRENCIES: BTC, ETH, CHF, EUR, USD
MINIMUM CONTRIBUTION: ETH 0.1
MAXIMUM CONTRIBUTION: ETH 15,000
The token sale will be divided into three main stages:
1. Private sale
2. Presale (crowd sale)
3. Main sale (crowd sale)
|1.||Any unsold XFL from a current sale stage will be carried over to subsequent rounds.|
|2.||Unsold tokens at the end of the sale will be burnt. Similarly, a proportional number of tokens will be burnt from the remaining supply to keep the ratio between tokens held by the crowd and the rest of the participants.|
START DATE: 1 February 2019
END DATE: 31 July 2019
TOKEN BASE PRICE: Negotiable
TOKEN DISTRIBUTION DATE: 1 month after private sale end date
END DATE: 30 September 2019
TIME-BASED BONUS: TBD
TOKEN DISTRIBUTION DATE: 1 month after presale end date
END DATE: 31 December 2019
BONUS: no bonus
TOKEN DISTRIBUTION DATE: 1 month after main sale end date
Tokens: the Distribution
Tokens: the Spending Distribution
Participation in the Token Sale
We have prepared a step-by-step guide to help you through the process of buying tokens.
Please refer to: http://exfluency.com for details on how to participate in Exfluency ICO.
If you need further assistance, we’re glad to help in via our Telegram group – or send us an email at firstname.lastname@example.org or tweet @exfluencyINT.
What Does Blockchain Have to Do with Localization? - Click here to open link
Blockchain being introduced to the language industry, Locworld 37, Warsaw, June 2018 - Click here to open link
Blockchain and cryptocurriences in the translation industry – a Babaco.tv interview with Exfluency CEO Robert Etches, July 2018 - Click here to open link
Canada a new blockchain hub? - Click here to open link
Exfluency’s Director for Multilingual Rights in the news - Click here to open link
Paul Filkin on blockchain in tomorrow’s translation industry - Click here to open link
TAUS webinar: The new kid on the block(chain) - Click here to open link
A Vision for Blockchain in the Translation Industry - Click here to open link
Sunsetting CAT tools and the rise of blockchain in translation - Click here to open link
Coin Rivet interview with Exfluency CEO, Robert Etches - Click here to open link