Dragonchain is a commercial blockchain platform built for developers. Dragonchain integrates business service applications into the blockchain to protect business data and operations, and supports multiple currencies. DRGN represents a license certificate for interacting with Dragon Chain business platform services, which can be used to pay for Dragon Chain business platform products and services (for example, launching nodes, providing smart contracts, accessing incubator dashboards, etc.), and supporting Dragon Fund incubator projects.

1. Project background

Dragonchain was originally developed at Disneyland Seattle in 2014 as Disney's private blockchain platform. More than 20 use cases and applications have been 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, and Joe Roets left the company to create the Dragonchain platform based on the technology. Under Roets' leadership, Dragonchain works with leading brands from around the world to solve complex problems using blockchain technology. The Dragonchain Foundation is a non-profit company established in January 2017 to maintain the ownership and responsibility of open source code.

2. DRGN Token

Dragon Token (ERC20) is a tokenized micro-license for interacting with the Dragonchain platform and related services to obtain legal guidance on US securities laws. It is not a financial security and should not be purchased for investment or speculative purposes. Buyers of Dragons should have a sincere intention to use them to interact with the Dragonchain platform.

3. Tokenized micro-license TML

DragonChain's patented Tokenized Micro License (TML) was created to provide a new software access model. It allows licenses to be held locally, like earlier software licensing models, but allows sellers of software services or decentralized hosting. It also standardizes many flexible forms of exchange through software access and execution. Its application mode is as follows:

1. For suppliers

Licensing is more flexible and has the potential for strong anti-piracy measures. Updates to the service can be controlled as in the subscription model.

2. For consumers

Users are not charged for unused software utilities. The endless passage of time brings no loss in itself.

License ownership is recorded on the blockchain, decentralizing ownership and control. Asymmetric cryptography (public key cryptography) is used to enable consumers to actually hold the keys that "own" the token.

3. TML service interaction

The token itself contains a license maintained on the blockchain with embedded programmatic (smart contract based) terms and human readable (traditional law) terms. The token's license interacts with the license embedded in each service (program/smart contract and traditional service) at every use, execution or access, creating a very flexible framework for software license innovation.

The terms of the token and all services can be updated on the blockchain in a way that allows anyone to prove and/or verify that a particular execution took place under a particular set of license terms (or other legal arrangement). The model also allows for very flexible update scheduling, where sellers can do things like specify license update frequency, specify update notification terms, or allow consumers to vote on terms or feature updates. This model can also solve the problem of accessing data stored on the seller's system, because the owner's public key can be allowed to access the data it owns even if the owner no longer has permissioned access to the system's services.

This more directly models the commoditization of service utility within the very popular "software as a service" or "platform as a service" hosting models today. It allows micropayments for goods and services (e.g. Amazon AWS, Google Cloud, MS Azure) to be modeled as the license itself and controlled in a more granular fashion. It also allows billing to be tracked and audited in a provably transparent manner.

Related links:
https://dragonchain.com/faq/