Some financial firms see the cryptocurrency world as “just a fad.”
Others are betting big on the future of Bitcoin, Ethereum, and other coins.
Needless to say, one thing is clear: the world is watching the evolution of cryptocurrencies closely—and more importantly, the underlying infrastructure that is giving way to an avalanche of new startups funded through ICOs (Initial Coin Offerings).
But it has only been recently that Fortune 500 companies and global brands have begun to take deliberate steps into the blockchain world.
Disney, one of the most well-known brands on the globe and longstanding proponent for remaining as forward-thinking as possible, recently incubated a powerful blockchain platform called Dragonchain as part of their Disney Open Source project. This sends a powerful message to both brands and bullish investors that the world’s most prominent entities are not turning a blind eye and calling this movement “a fad.”
They are embracing it.
The big global brands of the world, need take notice. Dragonchain, backed by Disney, combines 3 unique blockchain elements in one. They are the first of their kind to attempt this. Here’s what they are doing:
First, their platform, similar to Ethereum, allows business assets to be protected through serverless architecture—the decentralized blockchain—using established programming languages, such as Java, C#, Node, Python, etc.
Second, Dragonchain is an incubator itself with functionality similar to that of Kickstarter, allowing users to launch blockchain projects and enlist the help of crowd participants to bring them to scale.
Third, the Dragonchain marketplace allows for full-suite access to all the necessary components of successfully executing any aspect of a Smart Contract. Resembling aspects of other hiring marketplaces, such as Elance, Dragonchain allows you to work with other developers, engineers, legal advisors, and cryptocurrency users on any aspect of your blockchain-related project. Users can also access libraries of Smart Contract templates, which can be used to speed up execution and bring products to market, faster.
Combine these three critical elements and it’s clear Dragonchain’s big picture goal is to increase the number of people who not only believe in the technological possibilities blockchain provides, but can create their ideas with a frictionless process.
As of right now, this is clearly the biggest issue holding back widespread adoption of both cryptocurrencies and blockchain technologies: access.
Access to qualified resources. Access to knowledgeable parties.
These are unchartered waters for everyone involved, which makes platforms that help make the learning process easier such an important part of the equation.
According to Samantha Radocchia, blockchain expert and Founder of Chronicled, a product development firm focused solely on blockchain based products and platforms, “There are 2 things holding back blockchain from widespread adoption. First, education. And second, all the issues that come with scaling.”
These are the primary pain points Dragonchain is aiming to solve, with the hopes of bringing other brilliant blockchain projects to market.
However, as Business Insider noted, the real question is whether Dragonchain will end up being seen as a competitor to Ethereum—the current “platform favorite” for dApp (decentralized app) creators.
Joe Roets, Founder and CEO of Dragonchain clarified that the platform “looks to leverage the capabilities of other blockchains and their ecosystems,” not necessarily compete with them directly.
Still, Disney’s backing is only further confirmation that the widespread attention surrounding blockchain technologies is not going to be fleeting or short-lived. This is clearly a sign of continued support from yet another big player, and emphasizes why more and more brands, businesses, and investors should be paying attention.