President of Dragonscale Chris Jones: The Industry Is Still At An Early Stage

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Dragonchain, a Seattle-based blockchain solution provider announced 7 entirely new products at the Blockchain Seattle Conference on September 10-11th. Dragonscale was one of them.

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Chris Jones, the President of Dragonscale and, Co-Founder of the Blockchain Seattle Conference spoke with CoinTime about this new product.

Dragonscale

Dragonscale's goal is to connect blockchain business with the resources they need to be successful.

Dragonscale seeks to raise a fund to support blockchain projects that discover, develop, and deploy innovative products, services, and marketplaces in order to support economic growth and development.

Chris Jones is a long-time entrepreneur and an expert in translating complex, technical features and functionalities into easy to understand concepts. In July of 2018, he joined Dragonchain full-time as the President of Dragonscale.

In addition to capital, Dragonscale will also offer access to the Dragonchain Marketplace; an ecosystem of pre-built library smart contracts, qualified vendors, and specialized experts that will help blockchain businesses be more successful.

Chris Jones said, “With Dragonscale, we are looking to build a network connecting blockchain businesses with the resources that they need to be successful. The primary resource will be funding for most folks but the marketplace will also be a critical component as businesses seek out credible products, service providers and contracts to deliver on their business vision.”

Discussing the incubator and the ecosystem, Chris believes that a good ecosystem needs to educate and grow the community. Dragonscale specifically has a very vibrant community. He and his team consider that a very important piece of the overall project and will continue to make it a top priority.

Dragonchain: A Hybrid Solution with Proof of Time

Compared to Ethereum and EOS, Dragonchain is a hybrid public/private model, making it significantly more flexible. “Enterprises can keep their data off the public chain that they wish to keep private, but can still post agnostically to any public chain,” according to Chris Jones.

“Dragonchain is able to arrive at consensus using an abstract of the true data rather than move the actual data around. So for instance, in countries like China, where the data can't be moved out of the country, multinational organizations can still come to consensus. In addition, we are very developer friendly as you can write smart contracts in virtually any coding language you feel comfortable with,” said Chris.

Among the 7 new products, the release of DDSS (Dragon Days of Slumber Score) was also highly anticipated, a product designed to use time to prevent manipulation.

Dragonchain's Dragon token is a Tokenized Micro-License used to interact with the Dragonchain Commercial Platform and related services. A Dragon Days of Slumber Score (DDSS) takes into account both the Dragon balance and length of time each Dragon is held. Within the Dragonchain ecosystem, DDSS is used to leverage the users' Proof of Time across products internally and externally to prevent manipulation.

Chris explained, “We encourage people to hold their tokens. Dragons can be used to run nodes, as well as many other functions. One of the things we like about (Proof of Time) is that you can't manipulate time. As a vehicle for securing the system and encouraging particular behaviors, it's a great tool.”

Bearish Market

Since the middle of 2018, the crypto market has gone down dramatically. It seems the winter of the crypto market has come early. Chris also shared his views about how to get through a bearish market.

“First and foremost, focus on the company that you are building, build real products that businesses and consumers will use, and don't focus on the price of currencies.”

As for the future of the industry, Chris thinks that the industry is still at an early stage. “It's like we are still laying railroad tracks, we have a few railway stations setup, but there are no tracks between all the stations yet.”

Chris believes that early adoption will come from the places where the problems are the stickiest. For example, industries such as insurance and supply chain, which are business-focused, and have some significant challenges, and are willing to use blockchain technology to deal with them at this early stage of the technology's development because the friction that they are experiencing is significant.

Chris Jones said, “In the beginning of 2019, Dragonchain team has plans to meet and connect with even more blockchain innovators in China to see how we can help with more blockchain adoption and education.”

    Adapted from: Author: Emily Executive editor: Emily Sun
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