Dragonchain, a blockchain protocol originally built by Disney (yes, the one with Lion King and Alladdin), will hold an ICO from October 2nd to November 2nd 2017.
Wait, not so fast. What does Disney have to do with blockchain?
In 2014, Disney’s Seattle office started building Dragonchain, a blockchain protocol being a secure asset management system for internal use.
Disney dropped the project in 2016 and made it open source. Later, some ex-Disney employees founded the Dragonchain Foundation, a non-profit which manages the protocol.
So now they want an ICO, right?
Firstly, they want to build a business — called Dragonchain Inc. — on top of the platform. Basically, they want to give other companies an option to use blockchain protocol without investing in tech.
Now, they want to do token sale to raise money. Their tokens are called dragons and are a micro-licenses to use Dragonchain commercial services. Those include dev-friendly platform and a marketplace of pre-built smart contracts.
Will Disney endorse this?
“Disney has no involvement in Dragonchain’s initial coin offering,” a Disney spokesperson said.
What do we learn from that?
- There is a market potential for the more private blockchain than the bitcoin and ethereum protocols
- Sharing is caring. Not everyone has enough tech expertise to build their own blockchain protocol – but some have money to get their hands on it.
- We caught you with Disney big brand name, didn’t we? Well, that’s another tip – before investing, always look at who is working with the project at the moment and what are their real endorsements.