Disney's blockchain becomes a commercial product competing with Ethereum

From an animator, Walt Disney Company has become a pioneer in technology, and blockchain is no exception.

In 2014, Disney's technology office began building Dragonchain, a blockchain protocol that makes data more secure than other business blockchain like Ethereum, whose goal is to preserve internal asset management systems. .

But Disney stopped the project in 2016 and turned it into open source. Soon after, a group of former Disney employees formed Dragonchain Foundation, a non-profit organization that manages and maintains this protocol.

Now they are building a company called Dragonchain Inc. on this platform to help other companies use this blockchain. First, they will need to call capital.

Market gap

In the blockchain industry, everyone thinks that technology will one day create a new layer of structure to completely replace the old system. Many organizations, including IBM and Cisco, also invest in R&D to understand and utilize this technology.

But many big companies, like Disney, are reluctant to put their data on the blockchain because of the fear that there will be sensitive information being looked at. Joe Roets, CEO of Dragonchain Inc, said 'Disney always thinks about the future and wants to know how people use technology. We started building it for 2 months. '

Disney's blockchain becomes a commercial product competing with Ethereum Picture 1 Disney's blockchain becomes a commercial product competing with Ethereum Picture 1
Business Manager George Sarhanis and CEO Joe Roets of Dragonchain Inc

Joe describes this as a 'landmark' product that helps companies build what they want on the Dragonchain blockchain protocol without having to invest money and effort into experts. He said that it is possible to build security layers on top of the general blockchain, but it is expensive and time consuming. Dragonchain, encrypted socks are integrated.

Safer than Ethereum

Just like technology behind bitcoin or ehtereum, Dragonchain is also an electronic ledger that uses complex algorithms to record transactions and cannot be edited. But unlike public protocols, Dragonchain is a hybrid product, meaning that some information will be personal, some of it is public.

Disney initially created it as private, so there was no authentication benefit like the public protocol or hybrid protocol. Having public data is very important to avoid being cheated. That's because of the ability to transmit data on a decentralized network to authenticate transactions. Blockchain to authenticate from multiple parties to change transaction history. So in theory it is very difficult for one party to erase it for their own benefit.

Offer to the public ICO

Whether Dragonchain Inc can go on depends largely on the coming months. From October 2 to November 2, they organized ICO to call capital. About 238 million tokens (or "dragon" groups) are sold to the public.

'Disney is not involved in Dragonchain organizing the ICO,' Disney spokesman said.

Because tokens can be traded on the market, investors do not need to use Dragonchain but can consider this as a long-term investment. Those who want to use this product will have 3 options: