The IT sector in Armenia has grown dramatically since the Caucasus country’s independence from the Soviet Union. It is the fastest growing sector of the economy, expanding by an average of 20% annually. Once considered to be a Silicon Valley of the USSR, Armenia has truly launched a triumph of various tech startups that are rapidly capturing the world.

One of the latest innovations to emerge from Armenia’s IT sector has been the Volterman Smart Wallet. Volterman originated when a group of creative young men in Armenia, led by Azat Tovmasyan, came together to launch a startup. Tovmasyan had lost his wallet several times and wanted to devise a new means by which he could easily find it. Of course, it is not uncommon for people to lose their wallets in taxis, stores, cafés, or other locations. Few are lucky to find them successfully. In one instance, Tovmasyan’s child hid his wallet, causing much concern until the wallet by found by accident. Eventually, the innovative talent of Tovmasyan and the Volterman team not only resolved this problem, but also forever changed the role and meaning of the wallet. Their groundbreaking Smart Wallet not only carries cash and cards. It also effectively replaces many functions of the cellphone.

 
The Smart Wallet has many distinct features and capabilities. It includes a Bluetooth alarm system that notifies the user of the location of his or her missing cellphone was left. Conversely, the cellphone can alert the user about his or her lost wallet. Moreover, if the missing wallet was stolen, Smart Wallet can identify the culprit. The device includes a tiny built-in camera that functions only when the wallet gets lost. It will take snapshot of the person who opened the wallet first and email his/her pictures to the original owner. It also has a Global GPS free tracking system that lets one know the precise location of the stolen wallet.

In addition, the innovative device has Wi-Fi Hotspot that will provide users with access to Internet all over the world making roaming services. It also has a built-in power bank that keeps one’s cellphone charged all day long. It works either as a wireless device or with a hidden cable. Such a capability prevents those embarrassing and annoying situations when one’s cellphone dies exactly when one needs it.

The Volterman Smart Wallet also boasts an elegant design and is absolutely light weight. Made from vegan or genuine leather (of your choice), the wallet is also waterproof. Overall, it is classy and handy to carry. An Indiegogo crowdfunding campaign for the Smart Wallet took the internet by storm. The campaign exceeded expectations and hit the funding strip merely within one day. It is emblematic of the broader dynamic trends in Armenia’s IT sector and of the growing importance of IT to Armenia’s future economic development.