I googled this and Wikipedia came out with;
Dragon's blood is a bright red resin that is obtained from different species of a number of distinct plant genera: Croton, Dracaena, Daemonorops, Calamus rotang and Pterocarpus. The red resin was used in ancient times as varnish, medicine, incense, and dye. It continues to be employed for the aforementioned purposes by some.
In American Hoodoo, African-American folk magic, and New Orleans voodoo, it is used in mojo hands for money-drawing or love-drawing, and is used as incense to cleanse a space of negative entities or influences. It is also added to red ink to make "Dragon's Blood Ink", which is used to inscribe magical seals and talismans.
In neopagan Witchcraft, it is used to increase the potency of spells for protection, love, banishing and sexuality. In New Age shamanism it is used in ceremonies in a similar way as the neopagans use it.
At a website on wand information, as I researched wand cores, I wiccan stated that she used dragon's blood resin in a powdered form and stuffed in her wand's core to be used as a condenser.
So, after buying a 9/16 in. wide and 16 in. long drill-bit at Home Depot, I drilled my new hazel wand stick branch which took an excruciatingly long and cautious time to drill straight. I then bought a 12 in. long copper tube from the A/C dept at Home Depot, stopped the end with mud, stuffed it with amber powder from Norway then, stuffed some of the wand with dragon's blood resin powder mixed with(the following all ground to a powder): Juniper berries, grains of paradise, dill weed, master of the woods, sampson root, masterwort, mugwort, ginger root, cinnamon and, devil shoestring then, the copper tube then some more of the powder mix then capped with a clear quartz crystal and glued on with guerilla super glue (looks better than wiring the crystal in place). That was what I did for my wand's condenser core. I did more to the wand in carving it though.
Just thought I'd let you know another use for the Dragon's Blood. Blessed Be.