Dentacoin (DCN) is a new blockchain concept that has been designed to diversify the dental industry around the world. It follows by the decentralized protocol of Ethereum smart contracts. The DCN tokens of Dentacoin uses a reward system that encourages community contribution to the project. The main objective of the Dentacoin project is to provide high quality dental care to almost 80% of the world’s population who lack it.
The fact that Dentacoin wants to cut on the middlemen like the insurance companies and resettle the authority to revolve around the dentist and patients, the costs of acquiring dental care will be significantly reduced over time. Smart contracts will be established between the dentists and patients. This will help to facilitate a small portion of monthly contributions of the Dentacoins to the dentist.
The contributions will be directed to the needs of the patients and this smart contract will be a solution to the huge premiums that patients have to pay to insurance firms in order to get quality dental care.
With that brief introduction about the Dentacoin, the rest of the article will be aimed at discussing the history and founders of Dentacoin, its market performance, features, wallets, relevant exchanges and the future of the coin in the crypto space.
History and Founders of Dentacoin
The foundation that supports Dentacoin has about 20 team members. The founder is known as Prof. Dr. Dimitar Dimitrakiev who is a very respectable university lecturer as well as an experienced personnel in financial marketing.
Business developer is Philipp Grenzebach who is the economic brain of the Dentacoin project while the core developer is Jeremias Grenzebach who is the code wizard of Dentacoin. More to that, Jeremias has contributed to development of other major cryptocurrency projects like Zcash, Ethereum and Waves. He has been in the blockchain systems for around 8 years now.
Back in July 2017, Dentacoin bought a motor and brick clinic for dental operations in London. It was known as the Dental-prime International Plc which was worth about $90 Million in DCN Tokens. Currently, the team is still trying to increase its scope of acquisition of dental clinics around the world in order to implement the blockchain technology in each one of them.
Dentacoin is not minable and the total supply of tokens is 8 Trillion. The amount already in circulation is 325 Billion and the market cap is ranging around $553,021,732. Using the Timelock, the company has a plan of distributing 76.1% of the tokens starting from the year 2018 and 2042.
The founding team will receive 5% share while the core team members will get their 2.4% of the DCN tokens.
Going to the dentist has never been a pleasant experience especially to the economically average person. This is because, so much expenses are required to receive quality dental care. However, Dentacoin is here with a solution to this problem.
It encourages patients to take control measures that will help them have healthier teeth like dental flossing, as well as proper nutrition. On the other hand, the dentist will be able to benefit from the long term central success of the patient.
By cutting down on the economic disadvantages that compel doctors to only focus on the short term success of the patients, they are able to shift the doctor’s attention to the long term goals.
The Dentacoin foundation is striving hard to rely on the crowdfunding success in order to fuel the goals it has in place. This is due to the cost barriers which are rather unavoidable in the dental industry.
Features of Dentacoin
Dentacoin is a multifunctional blockchain. It can act as a platform for logistics or even be a tech tool for Financial analysis. Dentacoin is so much different form other peer to peer decentralized cryptos like the Litecoin and Bitcoin.
This is because, it does not major on becoming a global payment method. Instead, it focuses on becoming a non-competitive crypto coin that wants to diversify the dental industry around the world. Trying to bring in new innovations to such a vast industry seems quite challenging. All in all, Dentacoin has a few weapons which it will use to achieve its goals. Below are some of the key features of Dentacoin.
The DAC (Dental Assurance Concept) – These are tradable smart contracts signed between the patient and the dentist on the blockchain. In that, the dentists are required to do the best in their work but still patients should also maintain the required dental hygiene.
Both parties will have monetary rewards if the set standards are met. In addition to that, there will be Super smart contracts too which will be aimed at protecting the patientin case of death or insolvency of their dentist.
Trusted Review Platform (Blockchain based) – The review of the patients will be published in the platform in unbiased manners in order to give the dentists full market research values. The rewards in Dentacoin are in DCN tokens which can also be used for payments of future dental services.
Mobile App for Denta-care – This is a gaming program that lasts for about 3 months and has incentives too. The gaming program educates the patients on how to practice and maintain good dental hygiene. The foundation is hopeful that the patients will have enough dental care information within the set three months. It also helps the patient to get in touch with their dentist immediately in case of any emergencies.
Trading platform – Using the DCN blockchain, dental products can be traded through the platform in order to eliminate the long supply chains in block-less chains. This will be a good way of avoiding the fluctuating tariffs and prices.
Secure database – The blockchain has a secure exchange of database and storage of medical records which have been conducted between dentists and their patients. The records can only be shared between patients and dentists only with permission.
Dentacoin is one of the ERC-20 Token therefore it is compatible with any Ethereum wallet. Some of those wallets include;
- Ledger Nano S and Trezor will do if you want a hardware wallet.
The idea behind Dentacoin is a highly noticeable one. With their strong team members, they could bring a difference to the dental care industry. If Dentacoin is able to succeed in its project, this will mean so much good to the dental health of rest of the world.