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Disney-developed blockchain platform Dragonchain raises $13M in ICO

Dragonchain, the blockchain platform originally developed at Disney, has raised over $13 million in its initial coin offering (ICO), which ended on November 02, 2017.

Originally developed at Disney's Seattle office between 2015 and 2016 under the name "Disney Private Blockchain Platform,” the project was launched as open-source by Disney on October 2, 2016. It is now maintained by the Dragonchain Foundation.

"We created Dragonchain to be an easy-to-use hybrid blockchain platform with all the benefits of immutable proof on the public blockchain. Our incubator programme will nurture the next generation of blockchain applications, and we already have start-ups in the programme which will use Dragonchain to verify the provenance of art, secure the last-mile delivery of packages and implement frictionless payments,” George Sarhanis, Chief Business Officer of Dragonchain, said.

Dragonchain aims to simplify the integration of real business applications on a blockchain, while protecting business data and operations and providing multi-currency support. The tokens issued in the ICO, Dragons (DRGN), will provide utility access to platform services, project incubation, and professional services to support start-ups and entrepreneurs building applications on the platform.

The company’s advisory board includes Maria Smith, vice president of partnerships and payments, Starbucks; Matthew Roszak, Bloq co-founder; Jeff Garzik, co-founder, Bloq; Ed Fries, tech industry advisor and co-founder, Xbox; and Tom Bush, former assistant director, FBI CJIS Division, among others.

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