Dragonchain is a turnkey commercial blockchain platform which allows developers to rapidly and securely deploy blockchain applications with common programming languages such as Java, Python, Node, and C#. Because blockchain applications traditionally require specialists, this allows a company to utilize smart contracts using existing software engineers in a flexible, easy to use way.
The technology model of Dragonchain is similar to Amazon’s AWS model, Dragon tokens are used by developers and organizations to interact with the Dragonchain commercial platform products and services. Dragons are also used to provide early access to technology and data from Dragonchain projects and incentivize active participation of project development.
Incentive to Hold
Projects within the Dragonchain Incubator must hold DRGN tokens in order to successfully apply to be incubated. In order to participate in a Dragonscale ICO, participants must hold Dragons, with ICO priority will be given to Dragon holders with the highest Dragon Slumber Score (DSS), determined by how many tokens you hold and how long they’ve been in cold storage. Token holders can also lend out DDS in exchange for DRGN tokens and gain priority access to Incubator token sales and pre-sales.
The value of holding the Dragon Token will be driven by plentiful market driven demand for the tokens to actually use the service. Value will depend on attracting developers to write DAPPs, and attracting companies to use Dragonchain to launch ICOs or use sidechains for private business needs.
U.S. Based Blockchain
Dragonchain is proudly built in Seattle, one of the most developed technology hubs in the world. Their office is surrounded by some of the most popular business in the United States such as Amazon, Starbucks, T-Mobile and Microsoft.
Bittrex is Close By
Also not far from the Dragonchain office is the Bittrex cryptocurrency exchange. DRGN was recently listed on Bittrex international, and the price jumped significantly once new hit the market, however the pump didn’t last long because of underlying bear market conditions.
A listing on Bittrex International means that DRGN is not available for trade by US based customers, this is most likely attributed to uncertainty surrounding US securities laws considering Dragons were originally distributed through an ICO.
The Dragonchain FAQ clearly states that a Dragon is not a financial security and should not be purchased for investment or speculative purposes. The website also advises that purchasers of Dragons should have a “bona fide intention” to use them for interaction with the Dragonchain platform.
US based exchanges such as Bittrex are very concerned with government compliance. The Bittrex international listing is a giant leap forward for the Dragonchain project and the placeholder is now set for a listing on the main exchange once any potential issues with the SEC are settled.
The Dragonchain team is headed by Joe Roets who has over 20 years of experience in software architecture, with focus on security and scalability. He has worked with major companies like Disney, Lockheed Martin, and Overstock.com.
Paul Sonier is the Chief Technology Officer at Dragonchain, who served as Tech Lead of the Disney Vacation Club website and also worked as a software development engineer for Amazon.com.
Interchain Technology Patent
Dragonchain continues to deliver on its roadmap as it was recently awarded a U.S. Patent for its Interchain technology, which allows users to operate on multiple blockchains such as Ethereum, Bitcoin, and NEO.
Interchain reduces the strain on both large public blockchains and related utility chains, while maintaining fast transactions and lowering operational costs.
It’s been rumored that Starbucks (remember they are neighbors) has indicated that they wish to incorporate blockchain into their business. Some have been speculating that Dragonchain could be the platform they choose based on a few interesting connections.
1. Dragonchain met with Starbucks back in November:
2. One of Dragonchain’s listed advisors is Maria Smith who happens to be Vice President of Partnerships and Payments @ Starbucks.
3. Dragonchain marketing released an infographic showcasing how the platform could be used to implement smartcontracts for tracking coffee production.
The Disney Effect
Looking at the Dragonchain team, it’s hard not to notice so much connection with Disney.
As it turns out, Dragonchain started at the Seattle office of Disney, as a private Blockchain for a wide range of uses from Ticketing, to Digital Rights Management, to Voting Systems and more. The tech was later released as open source software and the Dragonchain Foundation was founded shortly afterwards to maintain and look after the code.
While Dragonchain, Inc. makes it very clear that they are not in partnerships with Disney, the affiliation and strategic connections will be a great asset going forward. After all, the Dragonchain project is still listed on Disney’s Github open source software page.
An important element to consider when looking at the value of a Blockchain project is whether the name, logo, ticker and marketing is likely to resonate with investors and partners. Dragonchain has excellent branding and is actively promoting their project thru means not normally seen in blockchain, such as their recent NASCAR sponsorship.
I’ve been interested in Dragonchain since it was initially launched back in 2017, not long before the massive bull run that took Bitcoin to $20K. Since then, the cryptocurrency market as a whole has taken a dive and as a result, projects with great fundamentals are being forgotten as traders look to chase the next pump.
I was holding DRGN for a while but sold once the crypto market took a turn for the worse. I’ve since been re-accumulating under $0.10 with plans to hold nearly double the amount I had in 2017.