Healthcare is one of the most interesting and important use cases for blockchain technology. Within that field, dentistry often attracts much less attention
than other areas. But that’s all about to change.
Meet Dentacoin — the first integral blockchain solution building the future of the global dental industry.
Through numerous Blockchain-based tools, Dentacoin will bring patients and dentists together in communities working together to improve dental care worldwide and make it affordable.
Why does Dentistry need Dentacoin?
Dentistry is a growing, highly specific, yet fragmented 500 billion USD industry. This highly fragmented industry consists of many lone fighters (approx. 1.6 million dentists) and thus a low degree of industrialization is present. Here’s where Dentacoin sees their chance to set a new clear direction for global dentistry through digitisation and the power of the crowd.
Reports show that behavioural dental diseases (namely caused by poor care, poor nutrition and improper dental treatment) make up 90% of all dental diseases, adding up to 400 Billion USD per anum in untreated cases. At the same time 80% of the world’s population cannot afford high quality dental treatment.
Dentacoin has developed a concept to improve this unfortunate state of affairs. The key is trust. The problems are evident— the solution comes through a new way of thinking and using blockchain technology to help realize this new model. The goal is to achieve an economically and medically desirable assumption of full responsibility for the dental health of each individual, shared equally between patients and dentists.
But how does Blockchain fit in this picture?
Blockchain technology is the most effective way to automate data security, protect from counterfeit and achieve low costs. It is the only way to integrate a currency system at low costs and with maximum security, independent of banks, since many people in the world do not have access to a bank account, but still of course should be able to receive dental care.
Is Value Generation the new “Mining” concept?
On its way to solving the industry’s most pressing problems, Dentacoin has implemented a new notion of the concept of “mining”, or token distribution, based on value generation. Among the blockchain-based value-generating tools being developed by the Dentacoin Foundation are a Trusted Review platform (which is already functioning on the main Ethereum network and at the moment of writing has already over 500 registered users and over 70 dental practices); an aftercare mobile app (aimed at forming knowledge and dental care habits), a market research platform (to gather valuable market research data from patients). Through these 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. This one-of-a-kind distribution model spreads the currency among the target user group, bringing all market participants together and generating value for the whole industry. The target user group extends far beyond the closed blockchain community and consists of more than 600 mil. potential users (patients and dentists). This powerful network is expected to trigger network effects where adding a new participant increases the value of the network for all existing participants.
An Innovative Assurance Model
“I will prevent disease whenever I can, for prevention is preferable to cure.” - Hippocratic Oath
A decentralized, highly secure blockchain-based database of all patient dental health records will help dentists provide the most accurate diagnostics and thus plan proper treatment and prophylaxis programs. Dentacoin aims at implementing a brand new “Hippocratic” dental assurance model where 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.