{"id":1570,"date":"2020-11-26T09:28:48","date_gmt":"2020-11-26T03:58:48","guid":{"rendered":"https:\/\/www.ulatus.com\/translation-blog\/?p=1570"},"modified":"2020-12-18T09:35:20","modified_gmt":"2020-12-18T04:05:20","slug":"cyber-security-translation-and-localization","status":"publish","type":"post","link":"https:\/\/www.ulatus.com\/translation-blog\/cyber-security-translation-and-localization\/","title":{"rendered":"Translation and Capturing the Asian Cyber Security Market"},"content":{"rendered":"

In 2019, the International Monetary Fund (IMF) estimated the global economic growth at 2.9%. In 2020, despite COVID-19, the IMF estimates a growth of around 4%<\/strong> an unexpected improvement. However, these growth rates seem to be dwarfed by certain technology-driven markets. One of the frontrunners in this regard is the Blockchain industry. Different sources have quoted varied but flattering estimates for the growth of Blockchain in the coming years. The expected CAGR (Compound Annual Growth Rate) for blockchain, regardless of the source, is above 80% by 2023. This growth is furthered by online dependencies spurred by COVID-19. In this article, we look at certain Asian Markets and how translation can be a catalyst to enable companies to enter and thrive in these markets.<\/p>\n

Japan embraces BlockChain but with caution<\/h2>\n

Japan has been known to lead technological innovations and strive to always be updated with the latest tech. Cybersecurity and Blockchain are no exception to Japan\u2019s plan. The country has seen a rise of several implementations of Blockchain, and with the changing dynamics influenced by COVID-19, blockchain developments are being pushed at a faster rate to universities as well. Japan doesn\u2019t have enough local players, though, and with blockchain being as young as it is, they are willing to welcome Western players to speed things up.<\/p>\n

That being said, with the hack on Coincheck in 2018, Japan has felt the need to protect its customers and seen reasons to be cautious. The experience with Coincheck has left its mark, and while Japan would like to continue being the global leader in this technology, the incident has forced measures that are road bumps.<\/p>\n

A government-backed China<\/h2>\n

In the earlier stages of blockchain development, China was among the naysayers. They banned over 80 cryptocurrency players and deemed it a possible risk. However, in October 2019, China\u2019s President, Xi Jinping, announced that China would invest in blockchain and should lead the way in the industry. While it is unlikely that China will loosen the noose on foreign players entering the cryptocurrency markets, blockchain has several other use cases involving data privacy and protection.<\/p>\n

China has an estimated 5,000 blockchain developers, which is certainly lower than the US, as well as its neighbor, India. It\u2019s no surprise that there will be international help required for China to meet its goal of setting the blockchain standard, and that is sweet news to international blockchain companies.<\/p>\n

Other Asian markets<\/h2>\n

While Singapore is fairly developed in its position of blockchain, several other countries also show promise and market potential. UAE, India, and Malaysia are also in the development stage and are promising markets for the blockchain industry. Data security and privacy have become the need of the hour during these times, and countries with developing economies could see blockchain as a useful resource for stability and growth.<\/p>\n

How translation can give western cybersecurity and blockchain a boost.<\/h1>\n

The demand for Cybersecurity has certainly risen due to the pandemic, and an increasing number of clients from the industry have approached us for help. Here\u2019s how we help them and why more companies should consider working with a translation company earlier than later.<\/p>\n