When I first started to do research on Dragonchain, it was one of those companies that just keep me eager to learn more! Their headquarters are located in Bellevue Washington, right down the road from the world wide exchange of Bittrex. The Greater Seattle area is booming with technology and the addition to blockchain and digital assets are growing at a tremendously fast rate. With some huge companies coming from Seattle like Expedia, Amazon, Disney, Starbucks, Boeing, T-Mobile, and many more, the possibilities with blockchain can be endless. The Dragonchain foundation is a nonprofit organization The Walt Disney Company created to oversee the blockchain code and to still have ownership of it.
The team that Dragonchain has built is a very diverse and intelligent group of individuals. I want to start with the CEO, Joe Roets. Joe has had multiple jobs working with The Walt Disney Company where his title is Sr. Software architect and Principal Blockchain Architect. His experience is with being a Software and Systems Architect and creating countless successful and long lasting systems. The development team consists of the names like Brandon Kite, Alex Benedetto, and Dylan Yelton. All of these individuals had some sort of engineering background with Walt Disney, that transitioned to the Disney Private Blockchain Project. As you can already tell, this Dragonchain company is the blockchain project being developed by The Walt Disney Company. Anything being driven by Walt Disney has huge potential and upside in my eyes. They have a very strong broad of advisors that brings in some big names from multiple world-wide companies. Some of this names are Ed Fries (Co-Founder Xbox), Maria Smith (VP Payments Starbucks), Jeff Garzik and Matthew Roszak (both Co-Founders Bloq).
Dragonchain is the first major media conglomerate to dive into the world of blockchain and create a token with it. Walt Disney is one of the most recognizable names in the entire world, and has created something that millions of people enjoy every single day. When a company that has a $155 Billion Dollar market cap has started to created a platform in the world of blockchain, it’s something we can’t ignore and have to pay close attention too. As of right now, Dragonchain is considered a ERC-20 token under Ethereum but working to create its own platform where other tokens can be created on it.
This specific blockchain platform has been created from scratch so that current business’s can easily integrate their current systems with the blockchain. Dragonchain simplifies the integration of real business applications onto a blockchain. This provides specific features like easy integration, data and operations protection, multi-currency support, and currency agnosticism. Current platforms restrict the creation of truly secure and scalable blockchain applications in real world business use cases. What Dragonchain does, is provides companies with a scalable blockchain infrastructure to protect data and smart contracts. Smart contracts that are built with Java, Python, etc and the platform will have a marketplace for pre-built contracts. They represent an ecosystem for sharing and constructing smart contracts.
The platform Dragonchain has created also allows you to keep sensitive business data completely private and non sensitive data public, all at the owners discretion. The architecture has 5-standardized levels of consensus to provide trust to consumers of data. The verification increases for each level, security increases, risk decreases, and the measure of risk will become possible.
The Dragonchain Incubator will provide professional services with strategic partnerships to develop a successful tokenizations ecosystem. It will include successful incubation of blockchain startup, a marketplace dashboard for the community to compare and monitor projects as well as access to legal, technical, marketing, and economic subject matters. With the help of the Dragonchain team, the full digital and token economics of the project will be built, containing design, user acquisition, monetization of models, and other relevant aspects. This seem like a very well designed project that will make it very easy for any traditional business to incorporate blockchain.
Now, Dragonchain has something interesting integrated that will reward HODLers, and it’s called “Dragon Slumber Score.” Now what is this slumber score you ask? Well, it allows you to have a unique benefit for early access to ICO’s and token pre sales. The more tokens you are HODLing the better the opportunities will become. Below is exactly how you find out your score and some descriptions of what your benefits can be.
Also, Dragonchain has a very interesting and beneficial roadmap. Here is a link to what they have already accomplished and what they have in store for the future.
Now, as far as technicals goes, there really isn’t much to look at. A lot of these altcoins are all in the same exact state and thats in a pullback consolidation zone. Its first support was in the 18000 sats area and you can see that it bounced off of that area about 2 different times trying to catch support. But eventually that support was broken and now turned into its resistance. This is one of those charts I see forming a giant cup-n-handle pattern and cracking new highs at some point. So the long term chart at the moment might not be too pleasing to the eye, but I really think its brewing a massive run up going into the summer. Volume also seems to be a bit concerning, but once it starts to pour back in it’ll be interesting to see how it reacts.
I like to be as transparent as possible with my “Coin Recap” series, but as far as concerns, I am not too sure I see very many here. I absolutely hate the chart that $DRGN has, I trade a lot depending on charts and this is one that sticks out to me as one of the worst in the crypto realm. Has no real support so that means it has no real bottom, which is concerning to me but I do love the fundamentals here, the technicals are what I’m questions at the moment.
Overall, I think that Dragonchain has something special to offer here. This platform is a blockchain solution that can immediately have an impact. They have so many transitional business assets all combined into one blockchain that can help many make the transition with ease. They offer privacy, coding flexibility, open source accessibility, hybrid system that allows businesses to have their own chain, limited exposure to smart contract data, multiple currency support (on one chain), multi-language smart contract interactivity, server less architecture via Amazon Web Services (AWS), and its own incubator and marketplace. All of these seem to have a the formula for success, and with a company like The Walt Disney Company leading the way, I see nothing but positive news for this token/future coin Dragonchain $DRGN.