Gavin Wood Cuts Tech Deal with Melonport on Cryptofinancing Hedge Fund Blockchain Development – ICO Slated

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Dr. Gavin Wood – the original founder of Ethereum and Ethcore/Parity – is slated to work with Melonport on a new ‘hedge fund’ manager for cryptofinancing portfolios that will run on Wood’s new Polkadot platform. Polkadot will bring multiple kinds of Blockchains into one large network, with pooled security and designed to allow Blockchains which follow certain specifications to integrate easily, creating a single inclusive interoperable multi-chain network.

Melon will provide the first use case – a completely decentralised Blockchain infrastructure intended to give secure and user-friendly access to manage or invest in portfolios, similar to hedge funds. It goes beyond a normal crypto wallet providing a “rule set” which forces certain elements to portfolios (eg. performance calculations and trade restrictions) to be a non-negotiable part whilst allowing user choices on more opinionated matters (eg. price feed sources, exchanges, management fee, etc).

Melonport plans to launch a Melon token pre-sale accepting Ether contributions that will go towards the building of Polkadot and Melon. More information can be expected on this towards the end of the month.

 

Melon is completely open-source software which is envisaged to enable competitive and decentralised asset management solutions. It will initially be targeted at individuals looking to set up and manage crypto portfolios and build their track records on it. The protocol allows for investing and redeeming in portfolios and will become a way for people to discover and gain exposure to these crypto portfolios cheaply and transparently. As digital assets become more mainstream, we expect this protocol to be adopted by more traditional asset managers.

Wood said:

“We’re very excited to be embarking on this path with Melonport. As a next-generation technology which is able to bring together open chains and enterprise chains, we feel Polkadot is uniquely suited to Melon’s use-case and welcome the challenge of developing this technology to fruition with open arms.”

Mona El Isa, former Goldman Sachs star trader and hedge fund manager who partnered with Reto Trinkler in founding Melonport earlier this year, said;

“Traditional methods of wealth preservation have offered a good service for a long time but we have also seen their limitations. My experience together with Reto’s technical skills have been very complimentary. We believe that a collaboration with Parity, will be very complimentary as well and will help make this idea even bigger.”

Reto Trinkler, a mathematician from one of the world’s leading university, ETH Zurich, developed a profit making algorithm for sports betting exchanges in C++ whilst still at university.

“We thought about this a lot and we really want the Melon project to be an open, collaborative effort. Whilst we plan to develop a set of modules ourselves, we have structured our usage tokens in a way that will reward developers. In this way, we believe we can future proof development and collectively come up with the first ever blockchain protocol and software for asset management.”

 

 

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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