Dragonchain (Dragonchain) is a blockchain platform built for developers. Dragonchain integrates commercial service applications into blockchain to protect business data and operations, and supports multiple currencies. DRGN represents a permitted token for interacting with the Dragonchain commercial platform services, which can be used to pay for Dragonchain commercial platform products and services (for example, launching nodes, providing smart contracts, accessing incubator dashboards), and supports the incubation projects of the Dragon Fund.
I. Project Background
Dragonchain was initially developed in 2014 at Disney’s Seattle campus as Disney’s private blockchain platform. Over 20 use cases and applications were publicly explored and documented through the W3C Blockchain Community Group. The platform was later released as open-source software under the Apache 2 license in October 2016, when Joe Roets left the company to create the Dragonchain platform based on this technology. Under Roets’ leadership, Dragonchain has collaborated with leading brands from around the world to solve complex problems using blockchain technology. The Dragonchain Foundation, a non-profit company, was established in January 2017 to maintain ownership and responsibility for the open-source code.
II. DRGN Token
The Dragon token (ERC20) is a tokenized micro-license for interacting with the Dragonchain platform and related services, with legal guidance available regarding U.S. securities law. It is not a financial security and should therefore not be purchased for investment or speculative purposes. Buyers of Dragons should have a genuine intent to use them for interaction with the Dragonchain platform.
III. Tokenized Micro-License (TML)
The patented Tokenized Micro-License (TML) created by Dragonchain provides a new software access model. It allows licenses to be held locally, similar to early software licensing models, but also allows the seller of software services or decentralized hosting. It standardizes many flexible redemption forms through software access and execution. Its application modes are as follows:
1. For Suppliers
Licensing becomes more flexible, and strong anti-piracy measures are possible. Service updates can be controlled similarly to subscription models.
2. For Consumers
Users do not pay for unused software utility. Time passing itself does not result in loss.
Ownership of licenses is recorded on the blockchain, decentralizing ownership and control. Asymmetric cryptography (public-key cryptography) is used so consumers can actually hold the keys to “own” the tokens.
3. TML Service Interaction
The tokens themselves contain the license maintained on the blockchain, embedded with programmed (smart contract-based) terms and human-readable (traditional legal) terms. The license within each token interacts with the embedded license in each service (program/smart contract and traditional service) at every use, execution, or access, creating a very flexible framework for software licensing innovation.
The terms of the tokens and all services can be updated on the blockchain in a way that allows anyone to prove and/or verify a specific execution occurred under a specific set of licensing terms (or other legal arrangements). This model also allows for very flexible update arrangements where the seller can perform actions such as specifying license update frequency, specifying update notification terms, or allowing consumers to vote on term or feature updates. The model can also address issues of accessing data stored on the seller’s systems, as it can allow the owner’s public key to access their owned data even if they no longer have licensed access to the system services.
This can more directly model the commoditization of service utility in today’s popular “software as a service” or “platform as a service” hosted models. It allows for commodity services micropayments (such as Amazon AWS, Google Cloud, MS Azure) to be modeled as the license itself, and controlled in a more granular manner. It also allows for tracking and auditing of billing in a provably transparent way.
Related Links:
https://dragonchain.com/faq/
