South Africa-based Web3 platform Momint has secured a US$50,000 grant from the DFINITY Foundation, a Swiss non-profit organization known for having the largest blockchain R&D team globally, to help it further expand globally.
Momint serves to educate the world about Web3 technologies, offering consumers, as well as investors, a safe platform for owning and trading energy assets on the blockchain.
The grant was obtained through the Internet Computer Protocol (ICP) Hub of Southern Africa, also known as Mzansi Web3 (MW3), which is funded by DFINITY.
Momint will use the grant to integrate the ICP blockchain towards enhancing its business operations. This strategic move aims to solidify Momint’s global expansion efforts, positioning the local startup to gain, retain, and expand its market share in today’s highly competitive international digital economy.
“The innovation and opportunities presented by ICP in relation to the South African startup scene is immense. The fact that Momint, the very best Web3 startup in Africa, is using our blockchain protocol to tokenise their real world assets offers a strong case study. Momint’s integration into the ICP ecosystem will give the company instant access to numerous resources, including technical support, venture capital and other implementation partners,” said Shaheer Karrim, co-Founder and CEO at MW3.
“These opportunities for rapid growth and acceleration will continue to enhance Momint’s status as a pioneering start-up, poised to play a significant role in redefining key sectors of the South African economy through the use of blockchain technology.”
ICP’s technology offers several key advantages that make it well-suited for Momint’s real-world asset tracking applications.
“Their secure consensus mechanism and low gas fees have enabled fast, affordable blockchain transactions for Momint. This has led to a notable uptick in the rate at which we are able to sell tokenised solar certificates, ultimately improving our efforts to democratise access to solar investments in South Africa today. The ICP blockchain protocol also provides us with a direct stream of data from our smart meters on all solar panels, creating an incorruptible record of energy generation and asset degradation over time,” said Ahren Posthumus, CEO and founder of Momint.
