Dentacoin is an Ethereum-based token widely used in the dental industry that seeks to improve the level of dental care. It provides a clear dental care platform, which empowers patients.
After the official launch of the innovative Dentacoin ERC20 on February 14, 2017, the first step undertaken was Dentacoin Foundation’s registration in Maastricht, a city in the Netherlands. Coin holders are allowed to vote in the management and advise them on pertinent decisions concerning the foundation.
Blockchain-Based Tools
The components that are included in the Blockchain tools are: an aftercare app for mobile devices, an educational website, and a review platform. For their contribution to the mission of the foundation, dentists and patients are rewarded with the Dentacoin tokens.
Additionally, Dentacoin plans to develop a decentralized and secure database that incorporates the health records of all patients.
The project intends to realize profit sharing to benefit the Dentacoin holders. Every year, the Dentacoin Foundation commits to buy DCN using 50% of the profits earned in the previous year. this includes profits from the clinics acquired by the Dentacoin Foundation, interests earned from assets, and other returns accrued from any of the investments.
The key component of the project is the review platform. By creating and using a blockchain-based platform to get trusted and reliable dental reviews and feedbacks, Dentacoin will enable the patients to share their thoughts on the dental services. Sequentially, doctors will access up to date market research data and feedback from qualified patients.
By relying on a self-implementing contract, there will be improved safety, trust, speed, and autonomy on the Dentacoin reviews platform. The review program seeks to reward its users using Dentacoins for value creating activities. Patients can spend the Dentacoins on dental treatments and purchase of dental care items.
Patients can write anonymous reviews based on detailed multiple-choice question survey. Patients will also have the option of answering questions on market research. Each survey is connected to the blockchain Ethereum and users are paid using Dentacoins through a smart contract.
A Prevention Approach
The Dentacoin project aims to achieve a paradigm shift from a treatment approach to a prevention-based approach. As a result, patients will have access to dental care using monthly rates paid-in DCN. With the self-implementing smart type insurance contract, shared responsibility is guaranteed.
The first Dentacoin presale transaction was carried out in July, 2017 while the initial ICO will happen in October, 2017.