To date, blockchain technology has been constrained by a number of security concerns (as well as the need for technical expertise) when building smart contract applications. Dragonchain addresses these limitations by allowing businesses to retain complete control of their sensitive business data and proprietary business logic by using what is called a hybrid blockchain.
The Dragonchain platform is a hybrid blockchain, allowing businesses to innovate using different levels of verification from basic transaction verification up to public blockchain verification on Bitcoin or Ethereum to provide independent witness or “proof of existence”. The benefit is that applications can achieve consensus in stages, from a private trusted context up to a trustless public blockchain. The public blockchain provides publicly verifiable checkpoints, even for private implementations.
The result is a flexible method of implementing business-focused systems. The platform is designed such that a traditional software engineer can easily and quickly build secure smart contracts into their applications with no prior experience with blockchain technology or platforms.
Dragonchain was originally developed at Disney’s Seattle office between 2015 - 2016 under the name, “Disney Private Blockchain Platform”. The project was open-sourced by Disney in October 2016 and is maintained by the Dragonchain Foundation.
Joe Roets, Founder and CEO of Dragonchain, Inc., says: “When we created Dragonchain, we wanted to build an easy-to-use hybrid blockchain platform with all the benefits of immutable proof on the public blockchain, in a flexible business-focused package. Most importantly, we wanted to build a platform that is secure and easy to implement.
“Unlike existing platforms, with Dragonchain you retain complete control of your data. Sensitive business logic and smart contract functionality is kept proprietary. Dragonchain enables applications to leverage a spectrum of trust through multi-level contextual verification.”
Dragonchain is in the midst of its ICO. Running Oct. 2 – Nov. 2, the tokens issued during the ICO (Dragons) will provide access to Dragonchain platform services, project incubation, and professional services to support enterprises, start-ups, and entrepreneurs building applications on the platform.
In addition, Dragonchain officially announces the formation of its Advisory Board to provide strategic guidance on future endeavours.
Advisory Board members include:
Maria Smith, vice president of partnerships and payments, Starbucks
Maria serves as the VP of Partnerships and Payments at Starbucks and has over 20 years of financial executive experience. She was previously part of Disney’s Corporate Treasury team, where she oversaw the global consumer payments acceptance relationships.
Matthew Roszak, co-founder, Bloq and founding partner, Tally Capital
Matthew is a co-founder at Bloq and a founding partner at Tally Capital. He is an avid supporter and investor in the exciting technology frontier of blockchain.
Ed Fries, tech industry advisor and co-founder, Xbox
Ed joined Microsoft in 1986 and, as a vice president, spent 10 years as one of the early developers of Excel and Word. He left the Office team to pursue his passion for interactive entertainment and created Microsoft Game Studios. Over the next eight years, he grew the team from 50 people to over 1200, published over 100 games, and co-founded the Xbox Project, making Microsoft one of the leaders in the video game business.
Jeff Garzik, co-founder, Bloq
Jeff is co-founder and CEO of Bloq, a code-for-hire service that delivers enterprise grade blockchain technology to leading companies worldwide. He is a renowned futurist, bitcoin entrepreneur and software engineer.
Collin LaHay (Collin Crypto), founder, Gambit
Collin is a full-time cryptocurrency trader, bitcoin angel investor, blockchain expert, ICO advisor, and digital marketing specialist. He is the founder of Gambit, one of the most distinguished crypto trading communities.
Tom Bush, former assistant director, FBI CJIS Division
Tom is a national security, homeland security and law enforcement subject matter expert with over 33 years in federal law enforcement and owner of Tom Bush Consulting.
Chris Boscol, founder, lifeID
Chris is a specialist in cloud-computing, Amazon Web Services, network security, TCP/IP network protocols embedded systems and Linux kernel drivers. He has more than 20 years of experience building commercially successful products.
“Dragonchain's context-based approval ushers in a new era of inter-linked blockchain databases, multi-dimensional datastores that scale to customer requirements,” said Jeff Garzik, co-founder at Bloq and Dragonchain Advisory Board member. “Joe and the Dragonchain team are bringing a unique solution to market – the latest in blockchain technology, combining ease of integration, cloud scalability and secure grounding in public blockchain networks.”
"With increased concerns around security and privacy, blockchain is a transformative technology,” said Tom Bush, owner at Tom Bush Consulting and Dragonchain Advisory Board member. “Dragonchain is ideally positioned to be a notable player in this sector.”
