Bitcoin and digital currencies – language services and translations for new fields of technology

Why Bitcoin is presenting the financial world with linguistic challenges

Digital currencies are on the advance.While Bitcoin is just one of thousands of digital currencies including Ethereum, Dash and Ripple, it remains the most common and most popular. Crypto currencies have become a permanent feature of theFinancial sector  and the market is continuing to grow. With the rise of Bitcoin and Co., a whole new terminology has also become established in the financial sector.

A technical jargon, completely geared towards the new Bitcoin age

Because of Bitcoin, internationally operating financial companies are facing the challenge of providing technically accurate translations for content such as:

• internet sites,
• advertising,
• SEO translations,
• whitepapers,
• reports, and
• documentation.

Whether financial service providers, banks or stock exchanges, companies in the financial sector inevitably come into contact with Bitcoin-related topics sooner or later and have already become accustomed to new crypto technical terms, such as

• HALVING (halving a Bitcoin block)
• FORK (splitting off a blockchain by modifying the source code)
• HODL (holding a coin for a long time).

Nevertheless, even financial experts will be surprised from time to time when they encounter previously unknown technical terms from the Bitcoin world.

For traditional companies and consumers, the world of Bitcoin as a medium of exchange is still largely terra incognita. For many people, investing in Bitcoin is still not something they would consider, despite the repeated hype surrounding it. It is up to the providers of financial products to make the new digital currencies and investment opportunities comprehensible to their potential customers – and to do so across European and international borders.

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For companies 

Professional and technically competent Bitcoin translations into all languages

English is the default language of programmers and hardware manufacturers. However, things may look very different from a user perspective. Traditional businesses and consumers are now also being confronted with the issue of digital currencies due to the ongoing development of the technology and the new possibilities it entails.

In this context it is particularly important to ensure that texts relating to the subject of Bitcoin and digital currencies are not only translated into German and English. Potential customers are spread around the globe, and they expect technically correct translations in their own language.

In particular, Bitcoin is meeting with great interest in the Chinese financial markets, where translations into English are not always adequate. Also, Bitcoin translations into Chinese are absolutely essential for your operations in the Chinese financial markets.

EHLION will provide you with competent support as you navigate this new linguistic territory

At EHLION, we have a worldwide network of native-speaker translators at our disposal. This enables us to provide you with high-quality, accurate translations, even in relation to complex topics such as Bitcoin, eCurrency and crypto currencies.

Our extensive language portfolio makes us exactly the right partner for all Bitcoin-related translations. Our qualified translators can all draw upon their in-depth knowledge of the digital finance sector.

Why are translations on Bitcoin-related topics so important?

The emergence of crypto currencies has given rise to new technical jargon. Companies and financial product providers who can meet customer expectations for comprehensible and correct texts will have a great competitive advantage. The technical jargon pertaining to Bitcoin and digital currencies is new to consumers and traditional businesses, and is often met with a certain amount of hostility.

EHLION will provide you with competent support as you navigate this new linguistic territory

Language service providers such as EHLION play an important role in overcoming these inhibitions by providing target group-specific translations of technical terminology relating to digital currencies and their applications.

At EHLION we can also help to localize your user interfaces, contract documentation and brochures.

Comprehensible and professional translations lower the inhibition threshold of potential customers. Talk to us about developing appropriate technical terminology and translating documents for your international markets, as well as our professional software and app localization service.

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For companies

What is Bitcoin?

Bitcoin is a digital medium of exchange. And it's not just something for "computer nerds", as can be seen from the triumphant rise of Bitcoin digital currency. Bitcoin is based on a decentralized booking system (also known as a blockchain).

With this virtual monetary unit, payments can be securely processed and managed via a digital wallet. These digital wallets are also available for smartphones, so that transactions can be handled conveniently via your mobile device.

Bitcoins are exchanged for other currencies or electronic money, for a fee, at online exchanges or with private individuals. Bitcoins transfers can also be made in a similar way to normal bank transfers. Bitcoin futures have even been traded recently on futures exchanges in the USA.

The basis for all these fields of application is the blockchain technology, which offers far more possibilities than simple payment transactions.

Crypto currencies are more than simple digital mediums of exchange, because the underlying technology is both forgery-proof and decentralized. This means that many transactions that were previously carried out through intermediaries, such as trustees, notaries and banks, can be processed directly.

It also means transactions are now possible that previously could only be done via personal contact. The secure blockchain technology allows transactions to be processed over the Internet, which reduces the costs for these services.

Bitcoin is creating other digital currencies

As a result of the splitting of Bitcoin, other digital currencies are now also available, including Bitcoin XT, Litecoin and others. The underlying technology has evolved with each new currency.

Ethereum, another crypto currency, even provides a platform for open source development of new blockchain applications, so we can expect to see the even more exciting application possibilities being developed in the future.

The emergence of further blockchain applications will also go hand-in-hand with the creation of new technical terminology, which will be incorporated into technical jargon and everyday language either as loan words or translations. EHLION will provide you with all the support you’ll need as these developments unfold.