Fortnightly Update #4 — The beginning to mass adoption
A huge USD $20 million trade LIVE on the Wavelet network!
Hey all!
An extremely fruitful past two weeks at Perlin. As you all know, our goal has always been to ensure that our Wavelet blockchain is able to attain mass levels of adoption, which is why we’ve strategically partnered with large enterprises like the International Chamber of Commerce and the Singapore Government.
We’re proud to say that we’ve laid another major block towards mass-adoption with our ICC TradeFlow pilot in working closely with DBS Bank and Trafigura!
Launching the ICC TradeFlow Pilot
The commodities trade industry is huge, worth over USD $11 trillion globally, and Perlin being based in Singapore is positioned perfectly both strategically and geographically to capture a large portion of that value ($1.2 trillion moves through Singapore annually).
Singapore is rapidly growing to become the world’s largest commodities trading hub, with 80% of the world’s largest commodities firms based in the country already. With one of Perlin’s target markets set on international trade, this makes major organisations and companies involved in the trade space much more accessible, and we’re already beginning to see the results of that. Partnerships with the ICC, Enterprise Singapore, and Singapore Government have led to this exciting pilot with DBS Bank, awarded Asia’s best bank, and Trafigura, one of the largest commodities trading firms in the world, to create TradeFlow.
Our pilot with TradeFlow will see USD $20 million dollars worth of iron ore traded from South Africa to China, with the aim of the platform to drastically decrease costs, errors and time taken by streamlining the trade finance work flow.
We got fantastic coverage from over 50 publications, such as the New York Times, Coindesk, Reuters, NASDAQ, and Business Times.
Onto the next event!
Announcing the Yale-NUS Collabathon, sponsored by Perlin!
Yale-NUS is hosting the Open Climate Collabathon, a global event where instead of a standard hackathon where teams compete for a prize, this collabathon will leverage the collective intelligence of the brightest minds, working together to create a healthier planet together.
Together, we will create the Open Climate Platform, an open-sourced project which leverages the unique properties of DLT to develop a transparent climate accounting system for the world.
Perlin will be presenting the solution at the UNCCC’s COP25 Climate Change Summit held in Madrid to thousands of experts from hundreds of nations.
We will also be co-hosting at the Singapore node in Yale-NUS, so if you’re in the area, feel free to reach out. Let’s hack together!
If you’re a student developer or study environmental science, this is a call to action to you.
REGISTER HERE (Hurry! Registrations close in 3 days!): https://www.collabathon.openclimate.earth/
San Francisco Blockchain Week
Last week we saw our Head of Product, Ajay Prakash and our CTO Kenta Iwasaki fly over to San Francisco Blockchain Week.
Kenta gave a talk on the main technical stage about Wavelet, followed by a hosting a developer workshop alongside Ajay. We were able to demonstrate our Wavelet protocol simulator to many individuals from other protocols, notably Vitalik Buterin from Ethereum Foundation. To say the least — they were all extremely impressed with the improved version of the protocol, and are looking forward to seeing where it develops in the future.
There are even talks of forming a consortium with these other chains around Wavelet in the future ;) More on this in the future!
Announcing our Developers Challenge Raffle!
Get familiar with Wavelet by building a decentralised chat!
Not sure where to start? We have a beginner friendly guide written by our CTO, Kenta, so anyone can participate.
ENTER HERE: www.bit.ly/perlindeveloper
Entries close this Wednesday, 6pm SGT!
SME Digital Transformation Conference
Dorjee was invited to speak at the SME Digital Transformation conference to explore how we can decrease the friction for SME’s to utilise digital technology, especially in creating a more accessible and democratic international trade space. An interesting fact brought up was how in Brazil, SME’s (Small-to-medium enterprises) accounted for 99% of the businesses but only 1% of exports.
Digital transformations will level that playing field, creating huge benefits for all economies, especially those in developing countries.
Bitesized Release — Incoterms!
A new iteration of our bite-sized entries was produced, this time covering the ICC’s Incoterms in a short, 2 minute read. It’s a confusing topic to begin with, so this aims to shed light on a large focus of Perlin post-mainnet.
Read here HERE: https://medium.com/perlin-network/bite-sized-entry-4-icc-incoterms-71fc62ec4a08
Dubai Digital Silk Road
Perlin is proud to be a part of the UAE’s “Digital Silk Road” initiative.
As an early player in accepting regulation of cryptocurrencies, the UAE is setting the stage for blockchain projects in the region, heavily benefiting projects involved with international trade.
Check out CoinTelegraph’s coverage HERE!
World Economic Forum — Young Global Leaders Education Module
The first ever World Economic Forum Young Global Leaders Executive Education module was launched last week with Nanyang Technological University (NTU) in Singapore under the theme of Smart Cities.
As a key member in the Young Global Leaders group, Dorjee and Perlin is looking at the use of blockchains for IoT and other engagement with smart city innovations. The week-long programme drew upon Singapore’s leadership in applying technology to urban development, management and leadership.
You can learn more about the Smart Cities Week initiative by the WEF HERE.
Dorjee’s Interview with iBlock TV
Check out the exclusive interview with iBlockTV to find out how Perlin is transforming the digital space, and exactly why blockchain the technology to do it.
Technical Updates
Trade Products:
As you all know, our ICC TradeFlow platform is now underway. It’s been shrouded in secrecy over the past few months of development due to privacy concerns with our collaborators, but we should be able to reveal further developments now that TradeFlow has launched.
- Most work recently has been adding slight improvements to the platform in close consultation with Trafigura and DBS Bank.
- On top of the existing drag-and-drop framework of creating a trade flow, we’ve added automated alerts and triggers for when a party is required to perform an action.
- Further work involves optimising the platform for other applications beyond trade finance
Wavelet:
- We’re still testing and working on an improved version of the Wavelet protocol. Most work is spent fleshing out bugs, but a simulator is already up and running.
- The next steps are to formalise academic proofs and to test edge cases. Cannot wait to show this to you all!
Phew! — That’s it for now.
Thanks for reading! See you again in two weeks :)
— Daniel
You may have noticed that we’ve switched to fortnightly updates from the previous weekly updates. We’ve made this change to keep the content in the updates high-level and interesting for our community, and to abstract away the granularity of a week-to-week basis. Hope you all appreciate the change!
