Melbourne-based Melonport will be dissolved after the successful launch of its Melon fund platform.
As the company’s founder explained to the Handelszeitung, there are no problems with liquidation
“We simply fulfill our promise and give up control over what we have created.”
The startup should be replaced by a global body of experts and future users of the protocol. The existing product should thus be further improved in order to optimize the achievable results.
A few days ago and already out of board
Launched just a few days ago, Melon’s blockchain fund platform allows asset managers around the world to launch a globally usable fund in just a few clicks. The code of Melon is completely open source and on the code platform Github freely viewable and changeable. The fund transactions booked on a blockchain can be viewed publicly and thus easily tracked and reviewed.
The resulting full transparency should enable clear orders with automatic processing and real-time audit. The reduced administrative burden will enable cost savings for both portfolio managers and customers.
“This is a ten-year trip”
For El Isa, the software submitted is more of a starting point than the end of a development, as it emphasized to the Handelszeitung. “This is a ten-year trip” said the Melonport founder.
The “Melon Council”, which will replace Melonport in the future, currently consists of eight people, of whom only Jenna Zenk previously worked at the startup.
New projects coming up
Meanwhile, Mona El Isa is involved with Madeeba in a new startup, which is to develop an app based on the Melon Protocol. El Isa had prior experience in investment banking at Goldman Sachs before Melonport.