Kadena project spotlight the DNA

Published on: 28.06.2022
kadenas-project-spotlight-dna

Kadena project spotlight the DNA, Database of Native Assets, a blockchain-based platform, built on Kadena, that helps brands combat counterfeiting and build trust with their customers. 

Kadena builds technology that makes blockchain work for everyone. Its ecosystem also powers real-world use cases for enterprises and entrepreneurs, providing the security of Bitcoin, virtually free gas (transaction fees), unparalleled throughput, as well as Pact – a secure smart contract language with built-in bug detection.

Founders of Database of Native Assets

Abraham MilanoAdam Joannou & Douglas Jakobi co-founded DNA in 2021. As a token-based bridge between the physical and digital worlds that allows creators to mint their own branded DNA tokens. It also proves their product’s provenance and authenticity, reducing counterfeiting risk in the process.

Question and answer portion with Abraham and Adam

1. How do you explain DNA in simple terms?
ANS:
Database of Native Assets (DNA) is a blockchain platform that bridges the physical and digital worlds. With DNA, brands can tokenize their physical products, to fight counterfeiting, empower a safer & more reliable online marketplace, and reward loyalty and ownership. 

2. Why are NFTs uniquely suited for helping to reduce luxury goods counterfeiting?
ANS:
The counterfeit market is valued at around $4.5 trillion — 60–70% of that was luxury goods (Harvard Business Review). NFTs with security measures can protect brands and their customers by proving provenance. The luxury resale market has grown to $33bln (Bain). Brands have no visibility over this or even to customers who purchase their items through 3rd parties. NFTs give them a way to engage with their customers, directly or indirectly, and reward their loyalty and ownership.

3. What attracted you to build on Kadena?
ANS:
Douglas and I were instantly drawn to Kadena’s value proposition. Scalability without compromising security and lower energy consumption are key requirements for widespread adoption. As non-technical guys we also liked that Stuart and Will built JP Morgan’s blockchain — it’s an experience that would have forced them to deal with real-world constraints — a big plus for us.

Not to mention that if you can convince Jamie Dimon, the biggest crypto naysayer to hire you, it says a lot! Abraham has extensive experience and traumatic memories building on ERC protocols. He was skeptical at first to build on Kadena, but it only took a few weeks of digging deeper for him to be “All in!”.

4. What’s the origin story of DNA?
ANS:
As NFTs were blowing up early last year, Douglas and I started discussing how this first stepping stone of adoption could open Pandora’s box for new uses of the blockchain. We are still clearly scares from our commodities days! Douglas was an early KDA investor and mentioned that we should build on Kadena. The next step was to find a CTO who could vet Kadena and build the platform. Enter Abraham.

I met Abraham in NYC in 2017, at the time he had built a proto-NFT and I was convinced he was crazy. Then I was wrong, he was early. I reached out to him to see if he would be interested. He was intrigued and asked for a month to dig deeper. After some early apprehensions about building on PACT the further he went down the Kadena rabbithole the more his excitement grew “This solves a lot of the headaches I had, I’m all in!”

5. Have any hot takes on the NFT market that you’d like to share?
ANS:
We’re not even at the tip of the iceberg in terms of use cases and adoption.

6. What can we expect from DNA in the next 6 months? Where will you be in 3 years?
ANS:
We just launched our first live collaboration with legendary skateboarder turned artist Steve Olson. All the art in his exhibition “Beautiful Explosions” comes with a DNA authentication token, check it out at the Medium Exchange Gallery in NYC till the 10th of July. In the next 6 months, we have many more exciting collaborations that will show off new features around security, experience, and ways to reward owners.

Furthermore, DNA provides the infrastructure that will empower your shift towards the circular economy. Its technology is also built on Kadena’s Proof-of-work-layer-1 blockchain which has one of the lowest CO2 footprints in the industry.

INFORMATION ABOUT KADENA

Furthermore, Kadena is the only platform offering a complete decentralized infrastructure for builders. In addition by combining a revolutionary chain architecture with the tools needed for widespread adoption.

Furthermore, your teams get the full capabilities of blockchain with the ability to go from concept to launch in days vs. months by not having to build from scratch.

Moreover, the Kadena protocol continually scales to higher TPS (Transactions Per Second) as more chains are adds to the network. In addition, with its revolutionary multi-chain architecture, Kadena is the only scalable layer-1 Proof of Work (PoW) platform capable of scaling to settle the 9+ million trades executed on the NYSE each day.

Moreover, as network demand increases, Kadena’s energy use remains constant. Its unique multi-chain architecture also makes it the only platform that can deliver increased energy efficiency as TPS (Transactions Per Second) scales.

Empowering the economy

Moreover, Kadena works with your preferred services, so you can build how you want and where you want. Empowers with its ecosystem of product and service integrations across enterprises, mining, DeFi, oracles, interop, smart contracts, as well as wallets, and exchanges,  its passionate community of builders, miners, as well as partners is changing how the world interacts and transacts.

Additionally, $KDA is a digital currency that is use to pay for computing on the Kadena public chain. Moreover, similar to ETH on Ethereum, KDA on Kadena is the manner by which miners are compensate for mining blocks on the network and is the transaction fee that users pay in order to have their transactions included in a block.

ABOUT Kadena
Kadena is the industry’s only scalable layer-1 Proof of Work (PoW) blockchain. The principal feature that drives Kadena is scalability, which enables Kadena to deliver infrastructure-grade performance for any blockchain project.

Website | Twitter

ABOUT Database of Native Assets
DNA
bridges physical <> digital. It also creates a digital passport for your physical goods by logging their credentials and complete history onto Kadena’s revolutionary layer-1-proof-of-work blockchain.

Website | Twitter

RESOURCES
Medium

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