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This Ethereum-Based Token Seeks to Improve the Dental Industry

Last Updated March 4, 2021 4:58 PM
Lester Coleman
Last Updated March 4, 2021 4:58 PM

Dentacoin, an Ethereum-based token for the dental industry, seeks to improve dental care by providing a transparent platform for dental care that empowers patients.

The project’s first major step after the release of the Dentacoin ERC20 token on Feb. 14, 2017 was the registration of the Dentacoin Foundation in Maastricht, The Netherlands in March of 2017. The foundation allows all coin holders to vote and advise management on decisions regarding the foundation.

Blockchain-Based Tools

Blockchain-based tools will include a review platform, an aftercare mobile app and an educational website. Patients and dentists will be rewarded with Dentacoin tokens for their willingness to contribute to the Foundation’s mission.

Dentacoin also plans on developing a decentralized, secure database of all patient health records.

The project will implement profit sharing for all Dentacoin holders. Once a year, the Dentacoin Foundation will buy DCN with 50% of profits gained in the past year, including interests from assets, profits of the clinics bought by the foundation and any other return on investment.

The review platform is a key element of the Dentacoin project. By developing and utilizing a blockchain-based platform for getting reliable and trusted dental treatment feedbacks and reviews, Dentacoin will allow patients to bring into limelight what they think of dental services. Dentists, in turn, will have an access to updated market research data as well as qualified patient feedbacks.

Through a self-implementing smart contract, the Dentacoin trusted reviews platform will improve trust, autonomy, safety and speed.

The review platform rewards users with Dentacoins for value-creating activities. Dentacoins can be later spent on real dental treatments or buying dental care products.

Patients will be able to write an anonymous review based on a detailed multiple-choice survey and optionally answer some market research questions. Each survey will be linked to the Ethereum blockchain and paid for in Dentacoins by a smart contract.

A Prevention-Based Approach

The project seeks to shift the dental paradigm from treatment to prevention. Dental care will be provided to the patient with monthly rates, paid in DCN. A self-executing smart insurance contract will guarantee shared responsibility.

The first exclusive Dentacoin presale was completed in July 2017. The first ICO will be in October 2017.

Featured image from Shutterstock.