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Exclusive Interview: Perlin, the Upcoming Binance IEO, Plans to Create a Pseudo-UBI For Device Owners

Binance Launchpad has undoubtedly created hype within the cryptocurrency community, as the projects it has initiated have provided their investors with massive returns. The latest announced project, Perlin, focuses on decentralized cloud and mobile computing and envisions the creation of a pseudo-universal basic income (UBI) for device owners. We recently had the chance to interview Perlin’s management team.

Connecting to 45 Million Businesses in 130 Countries

Perlin introduces a leaderless, proof of stake-based smart contract platform which doesn’t use delegation or committees in order to ensure the security properties characteristic of Bitcoin’s network. At the same time, it purports to provide speeds comparable to those of private chains, achieving a massive throughput of upwards of 31,000 transactions per second and boasting a zero-to-four second finality time continuously. 

The project has already managed to secure substantial funding prior to its Initial Exchange Offering on the Binance Launchpad platform. Back in 2018, Perlin held three rounds of funding – a seed, strategic, and private sale – which raised a combined $46.2 million. 

The Singapore-based startup has also entered into a number of key partnerships which it hopes will allow the project to achieve what it sets out to. 

Dorjee Sun, Perlin’s CEO

Dorjee Sun, Perlin’s CEO, spoke exclusively with CryptoPotato, noting: “All our partnerships will be game-changers that drive crypto adoption altogether. To give a short context of our partnerships, with the International Chamber of Commerce, they will actively connect us to over 45 million businesses with 1.3 billion employees in 130 countries. Together with the Singapore Government [Enterprise SG], we have established the Centre of Future Trade (CoFT), an open digital platform to deploy blockchain commercial pilots and drive innovation in the global commodities industry.” 

The International Chamber of Commerce (ICC) is the world’s largest business organization. 

The project has also partnered up with Dubai’s Chamber of Commerce, the ICC’s Chambers Climate Coalition, and, of course, with Binance, the world’s leading cryptocurrency exchange. 

We do not just focus on enterprise adoption as well; we absolutely believe that the key to commercialization is through developers,” Perlin’s CTO, Kenta Iwasaki, told CryptoPotato. “With Wavelet, our technology is the first to be truly decentralized, highly scalable and highly secure. Not only that, we have effectively mobilized more than 11.7 million active developers with our WebAssembly support, which significantly lowered the barrier to entry for developers to start developing decentralized applications.”

Different From the Rest

When asked how Perlin differs from major players in the cloud computing field such as GOLEM and Storj, its CEO explained that Perlin is not really competing with the likes of Storj because those projects are focused on storage. He also noted that Storj has been one of Perlin’s early strategic partners, as the latter’s cloud computing capability actually compliments Storj. 

What is most interesting to Sun, though, is that Perlin is taking a challenging yet very promising and socially beneficial approach to cloud computing. 

“Another big difference is that our vision is the decentralized cloud and mobile computer creating a pseudo-universal basic income [UBI] for device owners. Imagine the estimated $300 billion cloud market having a proportion redirected to the poorest of the poor.”

Additionally, PERL token holders will be able to run validator nodes with minimal hardware requirements (2 CPUs and 512 MB of RAM) and earn a share of the network’s transaction fees. 

Perlin is also in the early stages of the development of a decentralized cloud computing marketplace, which is what led to the inception of the Wavelet – an open ledger for the development of mission-critical, scalable, and decentralized WebAssembly applications. 

Working With Binance

On top of all the other impressive partnerships that Perlin has entered into, the fact that its IEO will be hosted on Binance Launchpad only adds to its allure. 

Sun stated that the project is currently working with the World Economic Forum and the Binance Charity Foundation on an initiative known as the “Global Ledger.” It’s powered by Wavelet and leverages the growth in the amount of information received from nano-satellites, drones, sensors, cameras, and IoT-based devices. It provides open access to governments, businesses, and NGOs, allowing them to track the performance of sustainability commitments in various fields. 

“For example, in the past where car companies have gamed laboratory-based emissions tests, now they would be obliged to put IoT sensors on every vehicle and publish the emissions levels publicly and in real time on a global ledger which any NGO, individual or government agency could readily access and see the results.” 

The Upcoming Perlin Initial Exchange Offering

Perlin’s IEO is already in its preparation period in which Binance takes snapshots of the BNB holdings of each participant to calculate the average amount of their holdings. There are 9 more days left of that. 

The lottery draw will take place on August 25th. This time, Binance has once again altered its participation requirements, reducing the amount of winning tickets, as well as increasing the amount and the period for the average holding of BNB. 

Each winning ticket will allow its holder to make an investment of $500 in the project, which will get them 6,457.45 PERL tokens at a price of $0.07743 each. The hard cap is $6.7 million, and the total supply of PERL tokens is 1,033,200,000. 

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