Disney Reveals Dragonchain, an Interoperable Ledger

Back in March Bitcoin.com reported the Walt Disney company was searching for blockchain talent at its Seattle, Washington headquarters. Now the firm has released its own public/private hybrid blockchain, called Dragonchain.

Also read: PwC Report: Blockchain Illiteracy Could Hurt Banks

Meet Dragonchain, a Blockchain Created by Disney

6717e80f09ca02cf9a54456a2acfc4a4Disney’s Dragonchain platform claims it will simplify real business applications onto a hybrid blockchain. The project allows for easy integration, business data security, multi-currency features, fixed 5-second blocks and more. The platform was released publicly on October 2 and was developed by a “small but very cool team of Blockchain technology advocates.”

Documentation for Dragonchain on GitHub is roughly 15 pages long, with a first draft description of its capabilities. This includes development services for those unfamiliar with distributed ledger technology, default data protection, interoperability with other blockchains both public and private, and agnostic currency support.

Bitcoin uses “Proof of Work” (PoW) as its consensus mechanism to build a trusteless environment. With Dragonchain the “proof” will be absent, and users will have different choices on the matter. The Dragonchain document explains:

In this architecture, “proof” will be abstracted and may be implemented in one or more ways for a given blockchain. For some uses, one may desire to use a trust based system, for instance, in a fully private blockchain system. One may also find value in a hybrid proof configuration that would see trust applied alongside limited Proof of Work to add additional security against attack.

Similar Frameworks and Interoperability Are Key

Disney released the blockchain protocol with a modified Apache 2 open source license. The framework is similar to many blockchain prototypes with features such as timestamping, block ID, hashing prior blocks, PoW/ PoS capabilities, and digital signatures. Dragonchain gives various definitions for business verification, enterprise validation, network diversity, notarization, and public and proprietary checkpoints.

The application could do a number of procedures including trading Disney issued assets, partnered services issuing tokens, and accepting existing cryptocurrencies such as Bitcoin. There isn’t a clear and definitive application for Dragonchain’s possibilities yet, though, except for general business use cases.

Dragonchain’s multi-currency directive is probably the most interesting aspect. It’s quite possible the firm could issue “Mickey Mouse” tokens, with additional interoperability with assets like Bitcoin.

Additionally, the corporation could create loyalty points for patrons visiting Walt Disney resorts and theme parks. Or Disney could create blockchain-based programs for its fast lane feature within Disney theme parks. The platform could monitor ride times and the length of lines in order to create a more efficient process.


Mickey Mouse Coin Could Happen, With Bitcoin Compatibility

For now, Bitcoin interoperability is a must for Dragonchain as the documentation reveals it is the default base implementation. The paper explains that it makes sense at the moment to leverage the “ever growing external Bitcoin ecosystem.”   

“Bitcoin cryptography in a private currency will enable the transparent use of hardware signing wallets for internal use (e.g. KeepKey, Trezor, Ledger). Another example is that of tokenization, whereby one may directly integrate Bitcoin tokenization provider technology for use with an internal blockchain (e.g. Counterparty or Tokenly),” Dragonchain’s GitHub description details.

Dragonchain’s primary goal is ease of integration for those who understand blockchain technology, and for users who have yet to grasp the technology. It seems the platform is keeping its software protocol open to adopting different criteria as time progresses. Dragonchain will adopt standards down the line, and follow the W3C Blockchain Community Group blockchain standardization process as well.

What Disney has in mind for this blockchain at the moment is anyone’s guess, but it’s pretty apparent the company is ready for the future of this technology.

What do you think about Disney’s Dragonchain protocol? Let us know in the comments below.

Images via Pixabay, Walt Disney and Dragonchain. 

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  • NILIcoins

    well LOL my Disney coins …. https://bitcointalk.org/index.php?topic=802673.0

    The Disney Coin is the second in a series of coins which are made
    to present the future of crypto-currencies and the future of a true free market, which breaks the state’s monopoly on currency.

    The coins are real coins which can be traded P2P*
    on the counterwallet exchange platform

  • NILIcoins


    “However there is an option of another added value. having that coin appropriating the name and logo of the original brand. Coca-Coal or Disney. This part is the more interesting one and should eventually play a greater role in the artistic value of the work as a whole.

    There are no laws regarding counterfeiting of independent currency. there are not even laws that define this term I just used “independent currency” . the laws are covering fiat money that is a legal tender issued by the state. Once the current wave of blockchain hype will die all the investors in that technology (include all the big financial firms and banks) will realize that a blockchain is in fact a coin and that coin which was created under the name of that bank can actualy start acting as such. and not only that, this coin can act as a risk management tool to mitigate the enormous exposure of banks to the risk of fiat money (being minted like crazy by all central banks). Once this will take place (soon) then “Independent currency” will have to be regulated by law. and only then will Coca-Cola or Disney be able to prevent an artist from issuing a coin caring their name an logo . But even then as far as my coin they will not be able to do anything but to buy them .”

  • animalparty

    I see no proof there’s any affiliation with Disney. In fact, looking at the quality of the website, I REALLY doubt Disney would throw their name behind this garbage. Just goes to show how garbage bitcoin.com is for obviously reporting this made up nonsense.

    • Jamie Redman

      The project came out of this https://www.linkedin.com/jobs/view/145916740 and was well documented to be affiliated with Disney’s Seattle location. All the developers listed on the Github code involved with the project are employed by Walt Disney Seattle. Sorry but you are mistaken.

      • animalparty

        Prove it.

    • solid12345

      Disney acquires companies and resources all the time, and they rarely throw their name behind it. I mean they own Miramax which produces violent R-rated movies afterall but they won’t dare slap their logo anywhere around it.

      • animalparty

        You can at least find reference to this ownership from Disney. Not so for this blockchain scam.

  • NILIcoins

    This is too funny have to share with you here too:

    @Eli Sklar:

    I just relish in the meeting where decided on the name – probably…
    The highest ranking officers from Disney are sitting in a dimly lit room with a projector showing some graphs.
    One voice asks “just one question tho, why are you calling it Dragonchain and not Disney coin?”
    Silence in the boardroom.
    “We couldn’t use Disney Coin, it already exists”
    “What do you mean it exists? We made it?”
    “No… Our legal department are indicating that the coin was created about two years ago by some crypto anarchist artist”
    “Crypto anarchist artist? You are just combining words together?”
    “No sir… Her name is Nili Lerner, she from Israel and apparently she’s been doing that for quite some time now. Nobody takes her seriously, but she persists and she currently has about two dozen crypto currencies with major brand names that she created over the years?
    “Well, sue her and take it from here – we can’t have some kid running around using our name without explicit permission… It undermines everything we’ve built for in the last century!”
    “We can’t, sir. There aren’t any laws covering this technology”
    “So we’re stuck with Dragonchain?”
    “That’s e one. It got the best results from our focus groups”

    or something along those lines ☺