Disney-Linked Dragonchain ICO Closes In A $15 Million Offering

Disney-Linked Dragonchain ICO Closes In A $15 Million Offering

Dragonchain’s enterprise platform startup that was conceptualized as a prototype in Disney’s Seattle office has seen its ICO closed in a sum of $15 million.

Japan Can Transfer Its Entire Property Registry On A Blockchain?
Ethereum Search Engine To Be Available Soon
Ethereum Start-Up Aragon Raises $25 Million In Record ICO

Dragonchain’s enterprise platform startup that was conceptualized as a prototype in Disney’s Seattle office has seen its initial coin offering (ICO) closed in a sum of $15 million.

The startup was initially pushed by Disney as an asset-management tool that was based on the blockchain infrastructure. After two years, the project was abandoned and it ended up becoming an open source software. It remained so until recently this year when former employees from Disney revived it as a crowdfunded project. The token crowdsale ran for a month ending on November 2. Prior to the crowdsale, the platform had already amassed some $1.4 million selling its dragon tokens (DRGN) in a presale. With about $13.7 million raised over the period of its ICO offering, the total amount raised stands at just about $15.1 million.
Information from the project’s website shows that the platform is a public-private answer to companies that need more authority over their internal data. The blockchain platform is also a link between bitcoin and other blockchain platforms.
The technology behind Dragonchain combines a decentralized modern blockchain system with the already established secure and scalable classical systems to come up with a reliable platform. This means that companies can oversee their data without any security concerns and the public can access the user-friendly platform.
A commercial platform is also in the development stage and when finished, it will allow companies to access products like smart contracts among other turnkey blockchain resources. The smart contracts will be coded right within the platform through traditional coding languages like Python and Java. Dragon tokens will continue being accepted for payment for services. Developers insist that the tokens are utility and should not be treated as securities.
Latest information from the project development side indicates that the platform will be made fully available in 2018. The launch will also mark the beginning of an incubator program meant to help startups build tools that will be used in the surrounding ecosystem.

COMMENTS

WORDPRESS: 0