Enterprise Blockchain Company Dragonchain Wins Patent for Blockchain-Powered Loyalty System
The blockchain company Dragonchain has finally succeeded in obtaining a patent for a blockchain-powered loyalty system in the United States. The company said the system represents time-based scores using a value called the “Dragon Days of Slumber Score” (DDSS) which can be used in digital assets and loyalty rewards.
The advantage is that the system makes the blockchain foolproof and keeps it safe from hacks and other activities that may compromise the system. Titled security systems and methods based on cryptographic utility token inventory tenure, the patent presents an alternative way of creating time-based value systems on a blockchain.
Being a loyalty reward program, the patent presents a fair way of rewarding loyalty as the Founder and CEO of Dragonchain describes it.
“When you look at existing loyalty programs, the rewards are not proportionate to someone’s actual loyalty. For example, airline rewards are often based on using a credit card to accumulate points, rather than rewarding the time someone has flown with an airline. By monetizing time with blockchain, DDSS creates a new type of value system to recognize true loyalty through immutable measurement.“
Dragonchain is an enterprise blockchain company that was developed at The Walt Disney Company in Seattle in 2014 and then open-sourced in 2016. With the number of patents the company is getting, it stands the chance of becoming a major force in blockchain technology in the world.
It seems Dragonchain is built for patents as this is not the first patent the platform is getting. The platform is behind the interchain technology which allows processing of transactions across chains as the name implies. Blockchains under the interchain operation include Bitcoin, Ethereum and Ethereum Classic.
With blockchain-based platforms securing exclusive rights to services rendered by such platforms and it is significant progress in bringing blockchain technology into mainstream adoption. Dragonchain could be preparing for another patent again, but this time, in which niche is it going to be?