I recently had the pleasure of speaking to Joe Roets, CEO and Founder in this exclusive Dragonchain interview.
Dragonchain is a U.S.-based technology leader, offering Blockchain as a Service with security and scalability at the forefront of its operations. Dragonchain’s public/private hybrid blockchain platform combines high performance and ease of use, allowing enterprises to build and deploy blockchain solutions in minutes. As a service provider, Dragonchain’s goal is to empower businesses with an enterprise-grade blockchain solution.
You can find out more about Dragonchain from this introductory video from their YouTube channel:
I sat down with Joe Roets, CEO and Founder of Dragonchain, to discuss more.
Joe Roets, CEO and Founder of Dragonchain
Joe Roets is the Architect, Founder, and Chief Executive Officer of Dragonchain. He has over 20 years of experience in software architecture, focused primarily on security and scalability. He has created and led multiple technology startups, beginning in the mid-1990s. Joe is a visionary and thought leader in blockchain technology having led or contributed to projects in the space since 2010 at companies such as Overstock, Coinbase, Symbiont, and The Walt Disney Company.
When did you first hear about Crypto and what was it that drew you into this space?
2010 – I was a long time software architect and interested in new tech with ability to transform existing systems. Basically, technology that has an overlap with business need.
Satoshi’s white paper was very unique and interesting and I was interested in seeing the ideas applied to areas other than currency and fintech.
What is your background and your role at Dragonchain?
I’m the founder and CEO of Dragonchain. I have over 20 years experience in software architecture focusing on security and scalability. I have led and contributed to projects in the space since 2010 at companies such as Overstock, Coinbase, Symbiont, The Walt Disney Company, and Dragonchain.
I was the founder and lead on the Disney Private Blockchain project which was open sourced by Disney and rebranded as Dragonchain.
What does Dragonchain do? What is the Dragonchain Platform and what makes it different?
Dragonchain does many things and in many different ways than other platforms.
- Very flexible architecture abstracting important components of the technology
- Development since 2014
- Focused on business flexibility and ease of integration
- Architecture and model proven in multiple use cases at its foundation within Disney
- Protection of business data (hybrid architecture allows a business to protect customer and sensitive data and business logic while leveraging blockchain technology)
- Ability to use any programming language in full (not limited to special languages)
- Traditional application model to enable existing engineers to build on the platform immediately
- RESTful integration points
- Simple architecture (flexible and usable for unforeseen applications)
- Fixed length blocks
- Fast blocks (5 seconds for business nodes)
- Currency agnostic
- Can build a custom blockchain without currency,
- With a single currency,
- With multiple currencies,
- Can model an economy based upon transactions and add currencies to the chain at any point later
- Abstraction of proof – ability to use one or more proof algorithms (e.g. Proof of Work, Proof of Stake, Trust, quantum resistant algorithm, etc.) on a chain
- Interoperability (see section below)
- Dragonchain defines an interesting consensus algorithm for a hybrid public/private blockchain – Context Based Verification
- Context Based Verification adds another dimension to blockchain, as other chains are leveraged for verification based upon different contexts
- Business approval
- Enterprise (network) validation
- Network diversity (enterprise governance)
- Public checkpoint (Interchain with public networks) (using public networks as a security utility for proof of time/existence
- This model is focused on security and scalability of the business implementation and has multiple benefits
- Allows engineers to use existing code, existing skill sets, and existing knowledge to integrate and build with the platform
- Provides scalability at 3 points in the consensus process
- (1) At the business node level (L1) where every business node has its own chain which will continue processing no matter the state of the rest of the network. It also allows a traditional model which can be scaled using known methods.
- (2) Within Dragon Net, the consensus network, where scarcity is time instead of hardware. The network is multi-cloud and on premises capable, which allows orders of magnitude increase in traffic without slowing down consensus.
- (3) With interoperability (Interchain), as the process allows aggregation of checkpoints into public chains with configurable cadence.
- We were the first to consider (2015) and implement blockchain interoperability by connecting our hybrid blockchain platform at Disney to Bitcoin (2016)
- In 2017, we were the first to commercialize Interchain
- In 2018, we expanded Interchain to BTC, ETH, ETC, and NEO
- In 2018, we were granted a US patent for Interchain
2018 was a tough year for the Crypto market. However, from a tech perspective, we witnessed even more innovation and advancements than ever before. Can you talk about the progress Dragonchain has made over the last year?
We think that we have delivered extensive benefits to the industry in the past year.
- Consistent delivery on all technical roadmap goals throughout 2018 and 2019
- Awarded patent for Interchain in 2018
- Awarded patent for Time (loyalty system) on blockchain in 2019
- Fully operational Interchain with 4 major public blockchain systems
- Wyrmhole (token interop) technology implemented in 2018
- Time based loyalty system (DDSS) – used for early access, network verification
- Dragonchain Academy – native Dragonchain app allowing proof of course, testing, and certification
- Dragon Net – scaled consensus network
- Dragonscale – blockchain incentive based selection and signaling platform
- Dragon Den – Reimagined community forum (incentives against ads, trolls, etc.)
- Dragon Factor – Blockchain based identity service focused on privacy and self owned (self sovereign) identity. Allows arbitrary granularity of any identity factor
You have launched the Dragonchain Academy with the goal of creating an educational marketplace for beginners and professionals to further their knowledge of blockchain technology. Can you provide some insight into the decision behind launching this programme and the importance of education in the space?
It started as a function or goal of the Dragonchain Foundation as its goal to cooperate with the commercial entity that launched in 2017.
It serves as a demonstration of the performance of the platform, as well as fulfilling goals of Dragonchain and blockchain education.
We expect a massive transformation to a tokenized and rewards based general education platform in the near future.
In Q1 you formed a strategic partnership with MetroEDGE in order to bring Industry 4.0 EDGE computing and blockchain to underserved U.S. communities. You’ve stated that this platform is designed to serve IoT, healthcare, supply chain, and other industry 4.0 needs. Can you talk about the significance of this partnership and how you hope to help communities in the US?
This partnership is what drove us to a much needed refactor of the platform to allow enterprise customers to build solutions on premises.
It’s a partnership that is focused on enterprise customers with premium security, scalability, and performance requirements.
In Q3 you introduced Dragon Den to help battle issues such as plagiarism, fake news and trolls – issues that are synonymous with social media, particularly in the crypto world. Can you provide some background on this project and why it’s so important in this modern age to help provide high quality content?
We think that current social media, content, and community forum platforms are broken.
Many issues plague the Internet at large (especially as you say in the cryptocurrency community). In your face advertisements distract from content. Trolls disrupt communities and run costs up. Impersonation is used to defraud innocent community members.
We’ve modeled a system that uses tokenization to gauge loyalty and limit activity based upon a user’s contribution to the community. It uses incentives to drive good content as evaluated within a community and based upon that communities own culture. It rewards the actual evaluation of content within a community to push good content up sooner without centralized control. It has multiple identity features to avoid impersonation. It defines ways to counter censorship.
What else can we expect from Dragonchain in 2019? Are there are many surprises around the corner?
Many many things.
Rebrand coming on August 1.
Multiple application spin offs.
Can you summarise your ultimate vision for Dragonchain?
The original and lasting vision is a platform that allows real businesses and real business applications to leverage blockchain technology in a secure and scalable way.
More generically, we see the blockchain and cryptocurrency world as one might view the early Internet with multiple websites. The technology provides scarcity and marketplace capabilities to solve the problems that have plagued the Internet itself.
I sincerely thank Joe for his time.
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