Disney-Inspired ICO Seeks to Strike Magic on the Blockchain
Walt Disney had an imagination for the ages, but even he might never have dreamed up something akin to the blockchain. Disney software engineer Joe Roets is the founder and CEO of DragonChain, which is readying the sale of Dragon token with an Oct. 2 ICO.
DragonChain is an open blockchain commercial platform and incubator that takes a hybrid approach to blockchain technology and business applications on the cloud.
The DragonChain ICO has different characteristics than other token sales right off the bat. For instance, its Dragons are tokenized microlicenses, allowing owners to access services across the company’s ecosystem. The DragonChain technology is designed to protect business assets, allowing smart contract developers to tap into existing programming languages including Java, Python, Node and C#, for instance.
The incubator standardizes the approach to launching projects on the blockchain across a marketplace comprised of cryptocurrency, marketing, legal, software and recruiting participants.
DragonChain will sell more than 4 million Dragon (DRGN) tokens, 55% of which will be available in the public sale and which can be directed toward DragonChain services targeting other entrepreneurs and startups on the blockchain.
ICOs of course, are in the spotlight, having raised hundreds of millions of dollars in the past few months alone. Meanwhile U.S. regulators have cautioned investors and warned startups behind the deals about tokens, suggesting that some might qualify as being regulated as securities. The DragonChain website explains that “A Dragon captures legal guidance regarding US Securities law.”
DragonChain started as a project in Disney’s Seattle office a couple of years ago, at which time it was dubbed the Disney Private Blockchain Platform and has since been released as open source software and maintained by the DragonChain foundation.
Dragonchain isn’t the first ICO to reflect Disney inspiration. Cobinhood, the zero-fee based exchange that recently launched its ICO, is a play on the 1973 Disney character Robin Hood, stealing from the rich and giving to the poor.