Goldman Sachs is looking into ways to create a cryptocurrency trading platform. The CEO of Fidelity said that they are actively mining Bitcoin and Ethereum. James P. Gorman, CEO of Morgan Stanley said cryptocurrencies are "certainly more than just a fad." Now, Disney incubated Dragonchain is creating a blockchain platform and ecosystem of their own.
Dragonchain was incubated at Disney by Founder and CEO, Joe Roets, and his team of developers. Dragonchain is featured in the Disney Open Source project. Joe, who I was able to interview for this piece, has quite an interesting background. Not only has he held a position at The Walt Disney Company, but also Overstock.com, and the FBI amongst other notable companies and organizations.
Disney is arguably one of the largest, most well known and iconic brands in the world, joining the blockchain space. They have been involved since late 2014/early 2015, but managed to stay under the radar until now. And this is not some kind of weird side partnership. In fact, as Joe pointed out the crew at Disney have been extremely supportive of this project, "the open source committee (at Disney) was excited about the project and very supportive."
We have heard a few cases of various Fortune 100s showing interest in the blockchain space, but I have not personally heard of them actually using the technology, until now.
A lot of people mistake Dragonchain as an Ethereum competitor. Maybe in an indirect sense, but that's not the whole story. Joe pointed out, "we look at how we can leverage the capabilities of other blockchains and their ecosystems."
Dragonchain focuses on the protection of business assets through serverless architecture on the blockchain. Joe stated, "Amazon AWS is the first of several integrations that are planned. The interesting point there is that our hybrid architecture allows a best practices approach for deployment and security, and we are able to leverage AWS for scale."
The platform itself uses established programming languages (Java, Python, Node, C#) and a serverless architecture to protect business data.
Dragonchain also contains an incubator which allows for others to launch blockchain projects and scale them with crowd participation. Then there's Dragonchain marketplace. You can hire and communicate with others involved in cryptocurrency, blockchain tech, developers and software engineers, legal, and they even have libraries for pre built smart contracts.
The Dragons Are Real
I was also curious where the name "Dragonchain" came from. With Disney involved, I was wondering if the Dragons had any significance, since they refer to their tokens as Dragons. Joe mentioned, "The team had to come up with a name on our own for the release. I was already toying with the idea that one of our main features was the protection of sensitive business data, and a Dragon protects its treasure."
If this is any indication, it's very likely that many more large and iconic brands will become involved in the blockchain space. This industry is growing faster than almost anything we've seen before, and it only makes sense for others to want a piece of the pie.
It was only a matter of time until someone came along and built a blockchain platform literally powered by dragons. Perhaps Daenerys Targaryen from Game of Thrones would be proud.