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Blockchain FinTech takes decentralization beyond the blockchain

Melonport co-founder Mona El Isa literally takes decentralization beyond the Blockchain. Giving her product to the world and liquidating the successful startup Melonport.

Launched a good two years ago with the vision of improving asset management through Blockchain. It attracted investors in February 2017 and raised CHF 2.5 million in just under ten minutes. In March 2019, it released the first version of the Melon Protocol.

What pursues like a success, produces in a short time, it is too. On March 1, 2019 Melonport surprises with the release of the Melon Protocol version 1.0 and passes the code under the name Zahreddino the community. Zahreddino includes version 1.0 of the Melon Protocol (Smart Contracts) and version 1.0 of the Melon Manager Interface (desktop application).

Even more surprising, after the release of the code base, the successful startup goes into liquidation.

How does a flagship startup from the Crypto Valley get liquidated?

This is related to the attitude and plans of Melonport co-founder Mona El Isa, who does not manage a showcase startup, but prefers to create room for development and innovation. Compared to the Handelszeitung El Isa summarizes the reason for the step in the following words:

In concrete terms, the blockchain fund platform for asset managers and its code are sent out into the world and opened up as an open source solution for the community. There’s the Melon Council, a council of eight people who are responsible for the further development of the software from the direction. This evolution is central because Melon is finished as a base, but not yet fully developed in detail and therefore not yet suitable for mass production. Mona El Isa stated,”The technology is still young and has to prove itself. Nobody should launch a multi-million dollar fund on our platform today.”

Strong statement

Less the words, rather the concrete acts. The startup separates from its creation, takes itself the power of disposal, lives the blockchain immanent idea of decentralization and deletes itself with the liquidation as the central office. The previous developers may stick to it, but not as bosses, but as part of the community, which wants to make a product perfect and bring it to maturity.

And the previous CEO of Melonport, Mona El Isa, founds the next startup, listening to the name Madeeba. A blockchain FinTech that wants to build an app that builds on the Melon Protocol and simplifies fund management.

Published inFintech

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