Disney and Blockchain: Will the Media Giant Adopt Cryptocurrency?

Disney and Blockchain: Will the Media Giant Adopt Cryptocurrency?


The media giant Disney is currently the 19th largest company by market cap, with numerous yet weak ties to the blockchain industry.

Enterprise blockchain: Disney began to design a data management blockchain called Dragonchain in 2014. However, that project was eventually dropped and was open-sourced and released to the public in 2016.

Retail services: Disney does not have any apparent plans to accept cryptocurrency as a means of payment. However, one of its most notable subsidiaries, ESPN, has announced plans to launch a blockchain-powered gaming platform that uses cryptocurrency to transfer funds.

Investments: Disney has not invested in Bitcoin, cryptocurrencies, or cryptocurrency funds directly. However, in 2019, the firm considered a $13.2 billion equity deal with stake in two cryptocurrency exchanges, Bitstamp and Korbit, via an investment in the exchanges' parent company (NXC). This deal was not confirmed at the time.

Anti-crypto activities: Disney prevented the TRON blockchain from registering its trademark in the U.S., due to the fact that the blockchain shares its name with Disney's sci-fi film franchise, Tron. Apart from that, the company is fairly neutral toward cryptocurrency.

Executive sentiment: Disney's CEO and its other executives have been silent on Bitcoin and blockchain since its inception.

Ultimately, Disney is unlikely to adopt cryptocurrency in any public-facing way in the near future. Nevertheless, the company's efforts in blockchain have gone somewhat unnoticed.


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