On July 27th, blockchain startup Dispatch Labs announced Perlin the public distributed ledger platform had acquired it. The sale of Dispatch’s assets and its intellectual property was finalized on July 23rd for an undisclosed sum. Earlier this year Perlin entered into a supply chain and trade finance partnership with the International Chamber of Commerce (ICC) which has 45 million business members.
Dispatch Lab’s CTO, Zane Witherspoon, wrote on Saturday that Dispatch and Perlin will “marry the technology, business partnerships, and revenue strategies of our now unified organizations.”
He explained that despite hard work and a successful mainnet release, Dispatch Labs raised funds mainly in cryptocurrency, the value of which decreased as the market slumped. So, the company looked for another blockchain firm to work with.
It is interesting to note that, unlike Dispatch, Perlin’s blockchain mainnet is not yet released. However, the tech looks promising. It is a directed acyclic graph (DAG) like IoTA and Hedera Hashgraph and uses homomorphic encryption (considered an extension of more conventional encryption) for privacy.
Witherspoon also points out that Perlin has implemented the Snowball consensus algorithm of the Avalanche set of protocols. It is one of the first firms to use the anonymously released algorithm successfully.
The Singapore based company has a testnet of its blockchain platform Wavelet open for developers, with plans for a full release early next year. Perlin clarified last week that the second version of its testnet should go public by September, allowing the firm to receive feedback and complete audits ahead of 2020.
There is no mention on either side of offering two blockchains to clients. So it appears more likely that Perlin will use some aspects of Dispatch in finalizing Wavelet. Whether this means that Dispatch’s platform will be dissolved remains to be seen.
Perlin has multiple clients, including Asia Pacific Rayon for a fabric traceability blockchain. Last month, the firm partnered with the Dubai Chamber of Commerce and the ICC for blockchain trade finance solutions.