DentaCoin – the first Dental based Blockchain Platform
September 20, 2017 6:44 am,
We have heard a lot about every industry turning towards a industry specific blockchain platform, but has anyone thought about the medical industry to take a turn towards this? No, right! But technology has taken a massive creative turn by introducing Dentacoin as the first ever blockchain concept designed for the Global Dental Industry. It is the first of its kind. This platform brings patients and dentists together into communities by building and creating solutions devoted to improving the quality of dental care worldwide and making it affordable. Dentacoin develops the dental industry through the power of the crowd using a cryptocurrency reward system which in turn inspires great participation.
The core mission of Dentacoin Foundation is to improve the quality of dental care throughout the globe and of course, to reduce the treatment costs. One of the most optimistic and energetic ways they found to spread the project among the target user group was to introduce the Dentacoin Tokens. The individuals who use the Dentacoin tools will receive Dentacoin Tokens as a reward, which, in turn, they can later use to pay for their dental treatment, to purchase dental care products, to pay for their dental assurance. Among the first tools of Dentacoin are: a Trusted Review Platform (already functioning and with over 1400 users), an AfterCare Mobile App (to be launched in beta version in September), Webapp for collective customer intelligence, Dental Assurance Model, Trading Platform for dental care products, materials and equipment, a decentralized Database for medical records.
One great belief that the team follows regarding their first tool – the Trusted Review Platform – is that ‘The need to build strong relationships with clients and gaining valuable feedback/market research data to enhance their treatment plans and communications.’ Through this blockchain platform, the patients will have a reliable source where different dentists can be compared by means of their reviews. Dentacoin collects important knowledge of the industry and makes it available to all dentists and patients, thus giving a chance to dentists and patients to form a strong community around the world and build upon mutual interests.
For the Bigger Picture, Dentacoin has planned to develop blockchain dental assurance which will be used as the most powerful tool. This contract will exist between the individual and their respective dentist in order to achieve the main goals of keeping their teeth healthy. Patients will no longer pay for treatments, but for prevention Lifelong, full-covered dental care will be provided to the patient with very low monthly rates, paid in DCN. As long as patients adhere to the recommendations provided by their dentists and pay their monthly rates, dentists are obliged to keep them healthy by covering all treatment costs. A self-executing Smart Insurance Contract will guarantee shared responsibility, no manipulations and very low fees. The usual benefits of insurance companies will be shared between patients and dentists. This model creates an environment where both parties whilst performing to reach a common goal are simultaneously benefitting themselves and the dental industry as high levels of personal health are met.
The Dentacoin is a ERC20 token which is created to be used globally by all individuals and its value is expected to come from so called network effect where adding a new participant increases the value of the network for all existing participants. Through all the blockchain-based tools patients and dentists will be rewarded with Dentacoin (DCN) for their willingness to contribute to the Foundation’s mission. Thus, approx. 40% of the total Dentacoin supply is reserved to serve the above mentioned and further-developed tools. The target user group of Dentacoin consists of more than 600 mil. potential users (patients and dentists).
The Dentacoin Initial Coin Offering (ICO) starts on 1st of October 2017, 2 pm GMT. The token sale will be hard-capped to 240 billion Dentacoins which is 3% of the total DCN supply. The funds collected will be distributed for the creation of a team of front and backend developers, programming and launching the tools and overall maintainance of Dentacoin Foundation. Over 25K people have already expressed their interest in the upcoming token sale (you can see a live counter on their website).