Melonport dissolves in favor of its protocol, setting a new bar for the blockchain world

TechCrunch | 2/11/2019 | Staff
TitanSwimr (Posted by) Level 3
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In the world of blockchain, it is the sector of Fintech where most think Satoshi’s invention will have the greatest impact. And in finance there are few more elite worlds that those of asset management. So it’s of some significance that a two-year long project to disrupt and open up this world using blockchain has now come to fruition.

Last Friday in Zug — a small provincial Swiss town which has embraced crypto startups — the Melonport startup consciously chose to dissolve itself and release its Melon protocol on the world of asset management. It will now build its company on a blockchain protocol it doesn’t control. The precedents for this kind of move in the tech world are many. It’s not unheard for a startup to release an Open API and let other potential competitors to built on it, while hoping they will be good enough to beat others. And Redhat, long ago, built a huge company on top of the open-source Linux software.

Melonport - Melon - Protocol - Ethereum - Blockchain

What is different here is that Melonport built the Melon Protocol on the Ethereum blockchain, but it will no longer have the majority say on how that protocol develops. No-one will technical ‘own’ the Melon Protocol, but the founders of Melonport have entrusted its development to an independent ‘Melon Council’, which will provide governance and direction as it develops. What was Melonport will now morph into a new company called Madeeba to built tools on top of its creation. Madeeba will hold one seat on the Melon Council.

Fans of Stars Wars will have to forgive me, but it’s not unlike Obi-Wan Kenobi becoming stronger in ‘The Force’ by allowing Darth Vader to kill him off.

Melon - Protocol - Ethereum - Blockchain - Asset

Melon will now be an open-source protocol on the Ethereum blockchain for on-chain asset management. This pioneering blockchain software system is designed to...
(Excerpt) Read more at: TechCrunch
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