Wavelet is the fastest blockchain platform that you’ve likely never heard of. Its creator, Singapore-based Perlin, is claiming over 300,000 transactions per second; VC investment to the tune of $50 million from Arrington XRP Capital, FBG, BlockTower Capital and others. And now it wants to help a beleaguered Balkan nation join the European Union.
Earlier this year, France and Germany poured cold water on Montenegro’s hopes to join the trading bloc and thus boost its economy. They told the tiny country to get its house in order first. That means more transparent processes and clamping down on organized crime and corruption—legacies of the Balkan war which devastated the region.
Perlin holds out a lifeline. Its toolbox targets the inefficiencies that plague international trade and finance. It’s also the official technology partner for the International Chamber of Commerce, the world’s biggest business organization, with 45 million member businesses in 130 countries.
The ICC was recently instrumental in attaining a historic draft free trade agreement between the EU and the Mercosur trading bloc (comprising Brazil, Argentina, Paraguay and Uruguay)—after 20 years of stalled negotiations.
"Perlin will be exploring how Montenegro can utilise blockchain enterprise solutions developed with the ICC, such as the ICC ‘TradeFlow,’” Dorjee Sun, CEO of Perlin, told Decrypt.
Tradeflow supports the international trade process and aims to help countries adopt digital trade documentation, using a smart contract to improve efficiency.
Sun said that the company would also help Montenegro digitalize across its trade, industry and public office sectors, which includes supply chain tracking. “And potentially even a proposed ICC Trade Coin or stablecoin, governed in collaboration with Perlin,” he added.
Montenegro has been trying to join the European Union since 2012.
Its membership would help ensure greater stability in the region. The country suffered an attempted coup in 2016, allegedly perpetrated by Russian agents. US President Donald Trump has even suggested the nation could be the cause of a third world war.
In a statement, Sanja Damjanovic, Minister of Science for Montenegro, expressed hope that Perlin’s technology would “advance our country’s standing on the international stage,” and promised to help encourage the technology’s research, development and distribution throughout Montenegro and its trade partners.”
Perlin’s big vision doesn’t stop at Montenegro; it includes plenty more plans to capitalize on the real-world potential for its technology.
“We hope Montenegro is just the first of Perlin’s direct government partnerships in Europe,” said Sun.
Perhaps Perlin could even solve the border issues that currently mire the UK as it braces for Brexit?
“We already have a large amount of infrastructure in place regarding supply chain tracking and traceability on blockchain,” said Sun. “So we're open to extending support to any industries or markets that need to innovate.”