• Dentacoin

    2.71
  • Dentacoin is a platform for the dental industry, planning to use Ethereum smart contracts to improve the quality of dental care worldwide.

About Dentacoin

Dentacoin is a platform for the dental industry, planning to use Ethereum smart contracts  to improve the quality of dental care worldwide. It will make use of decentralized review, education, and bidirectional reward platforms. The reward (Dentacoin tokens) will incentivise patients to self-educate and follow hygiene best practices, and to provide reviews of their providers which will in turn hold them accountable. Providers will be rewarded in turn for following treatment best practices.

Dentacoins will be used by patients to purchase medications, dental protection, oral care items, and more. Dentacoins will be used by dental specialists and providers to purchase dental materials and hardware, supplement income, marketing / promotional costs, etc.

The Whitepaper outlines Dentacoin’s plan to build up this trading and value infrastructure for DCN by partnering with dentists and suppliers in cooperation with UPS, Amazon, and Alibaba. Dentacoin’s hope is that DCN will be an industrial currency for dentistry worldwide.

The tools are to be built in four phases, one for each sector of the dental industry:

Phase I:

The creation of a huge, global dental treatment review database. Patients will have their voice heard, while providers will be given valuable feedback and data. Market research surveys will also be conducted. Developers are currently working on the frontend, the address database, and the smart contract. The database will feature immutable reviews on the blockchain, and permanent storage, with each review rewarded in Dentacoin tokens (DCN). Dentacoin will also distinguish standard reviews (written by anyone) vs. trusted reviews (verified as written by actual patients). Trusted reviews will be marked as such when they are accessed through a link sent from the clinic after the appointment, and rewarded with more DCN then standard reviews. The patient can also choose to have the review anonymous, or their name tied to it.

Phase II:

The Aftercare mobile app, which aims to help users form lasting dental care habits, implemented through notifications and reminders with the app.

An educational website aiming to educate through entertainment. It will have  educational, interactive blocks (articles, video tutorials, pictures) coupled with multiple choice questions. Correct answers will be rewarded with Dentacoins.

Phase III:

Dental Insurance Concept. Unique dental insurance smart contracts between patients and dentists. Patients maintain oral hygiene by following the mobile app guidelines, while dentists perform their job in a satisfactory manner. Both parties will be rewarded in DCN for meeting the requirements. It is not outlined in the whitepaper if the dentist’s part of the contract will be verified through the review platform, or through another method.  All of the individual smart contracts will form part of a “super smart contract”, which insures the patient against insolvency or death of their dentist. No further details are provided in regards to how this insurance will be provided or guaranteed.

Phase IV:

Decentralized, blockchain-powered healthcare database, to solve the industry problem of creating secure, interconnected  data and medical records.  Unfortunately, few details are available as to specifically how Dentacoin will apply this technology in the current dental industry, what challenges and regulations they might face, and how they will overcome them.

A unique aspect of Dentacoin is the use of a democratic foundation to govern decisions and directions. Many (>120) people have contributed to the development of this platform, and in fact all token holders are entitled to vote on financial decisions and give advice to the Dentacoin management team, through the foundation. Further details about the voting mechanism are not provided.

The Dentacoin Foundation also has a unique buyback plan to indirectly increase Dentacoin value. Once per year, they will use 50% of the previous year’s profits to buy back DCN. The Dentacoin foundation has already purchased a real existing dental clinic, the Dentaprime International Plc. London. This was purchased entirely in DCN, for a valuation of 90 million USD.  It is not mentioned if there will be any direct profit sharing streams to token holders.

Above is the roadmap for Dentacoins’ expansion. Dentacoin hopes to have a 0.10% market share within 5 years, and a 10% market share within 25 years, of both patient population, and dentists. They use this figure to calculate the fundamental value of the DCN to be $0.00452 USD.

Team

The core members for the Dentacoin project are covered under our 'Team' section. There are 16 more team members listed in the whitepaper and Dentacoin website - more research into each is needed, and a full profile of each was not completed for this review. However, in general, it was difficult to find much information online to verify their credentials. LinkedIn profiles appear empty and recently created, likely a result of it not being as prominent in the Netherlands and other countries of residence for the diverse team members.
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Phillipp Grenzebach
Co-Founder, Business Developer

One of the co-founding brothers of Dentacoin. Very little information available, other than that he studies in Law, Economics, and Business Management.

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Jeremias Grenzeback
Co-Founder, Core Developer

Early to the blockchain space. 8 years experience. Contributer to etherium, waves, zcash, uport, status, imtoken, ByteballCould not verify these contributions. . No LinkedIn but GitHub is public here.

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Prof. Dr. Dimitar Dimitrakiev
Founder of Dentacoin Foundation

Respected university lecturer with more than 27 years of experience in financial markets. Member of IEEE computational intelligence society. Has a PhD. in Automated systems for information processing and management. MSc. Engineering  in Industrial Management. More information on his career and background found here, here, here, and here.

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Sergey Ushakov
Front end and Solidity developer, Digital Transformation Specialist

Degree in Robotics and Mechanics. Also works for SWISS Dentaprime, a dental clinic that is piloting the dentacoin technology. Not much other history listed on his LinkedIn profile.

Crowdsale Details

Start/End Time
Public Presale – July 1, 2017 – until 1% of the cap is raised

1st Token Sale – October 1, 2017 – until of the 3% cap is raised – 240,000,000,000 DCN

2nd Token Sale – October 1, 2018 – % cap not yet released

Total Supply
8,000,000,000,000 DCN (8 trillion) – 76% of all the coins are locked in contracts and will be released gradually from 2018 to 2042

Circulating supply: 16,177,500,000 DCN (exchanges)

Released/unlocked supply: 364,000,000,000 (mostly being used by Dentaprime)

Maximum Raise
240,000,000,000 DCN (hard cap)
Pricing Structure

2 500 000 DCN/ETH
33 000 000 DCN/BTC

Main modes of payment: ETH, BTC, INR

Project Highlights

Technical White Paper

Can be found here.

Team
Co-Founder and major Developers were discussed above. The team has a number of Dentists, and other members involved, including Project Managers for each of the major projects outlined in the four phases. None of the team members (other than Jeremiah) have any verifiable experience in blockchain.
Location
The Netherlands
Blockchain
Ethereum
Project Code

https://github.com/Dentacoin

Prototype

Yes – Trusted Review Platform: https://reviews.dentacoin.com/

Also did a trial run of the platform in May 2017 – read about it here.

FAQ

Taken from Dentacoin’s site

Busting the myths about Dentacoin’ taken from Dentacoin’s blog

Ratings

Product

View Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3
N/A
3 - Prototype / MVP / alpha.
Appeal

Does this solution have a distinct edge?

3
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

3
N/A
3 - Has growth potential.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3
N/A
3 - Some normal competition.
Innovation and IP

Is there (patentable) innovation and intellectual property?

3
N/A
3 - Partial, a novel approach or aspect.
Use of Blockchain

View Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

Is it safeguarded against misuse and corruption?

2
N/A
2 - Some, but not much.
Need for Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

Does the token provide holders with value other than as an investment?

4
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

Does the solution contribute to the evolution of blockchain infrastructure and economy?

3
N/A
3 - Interesting.
Whitepaper

View Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

2
N/A
2 - Insufficient coverage.
Readability

Is it easy enough to understand?

2
N/A
2 - Difficult, tech / marketing babble.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architectecure? Does it address implementational challenges?

1
N/A
1 - Severely lacking.
Roadmap

View Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3
N/A
3 - An overall plan, major milestones stated.
Feasiblity

Is the development plan realistic? Is it based on reasonable goals and timelines?

3
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

4
N/A
4 - Long term.
Dependencies (other services or capabilities required)

Does it seem as though a lot of know-how and experience went into the development plan?

3
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Is the project currently sufficiently far along in its development plan (relative to its vision and plans)?

2
N/A
2 - Critical obstacles ahead.
Compliance

View Breakdown
Token Utility (intrinsic value through usage)

Is there a concrete business plan (vs. market descriptions, general sentiments, and fluff)?

4
N/A
4 - Distinctive use cases.
Token as Security (tradable financial instrument)

Is the business model realistic? Is it based on reasonable goals and timelines?

3
N/A
3 - Partly; compliance not fully assured.
Token / Smart-Contract Infrastructure Readiness

Are the solution's revenue streams, profit mechanisms, key KPIs, etc. clear and easy enough to understand?

2
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

Is the project raising an amount of money that makes sense given what it needs to reach profitability?

3
N/A
3 - Limited to blanket standard.
Legal Review or Agreement

Is it safe from legal, moral or investor abuse?

1
N/A
1 - None available.
Company and Team

View Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

2
N/A
2 - Initial stages of formation.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

What is the level of presence, added value, and commitment of the advisory board?

4
N/A
4 - Well suited to project requirements.
Team Skill Set Balance (biz / tech / blockchain)

Are there enough sufficiently experienced blockchain architects and developers on the team?

3
N/A
3 - Somewhat uncertain, probably okay.
Token Sale

View Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

2
N/A
2 - Somewhat greedy or unrelated to plans.
Raise Amount Min

Is the minimum raise reasonably enough to carry out the majority of the development plan? Are there raise amount dependent milestones?

1
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

2
N/A
2 - Unclear or suspicious.
Media Presence and Following

Is the ICO well planned in terms of time, phases and scenarios?

2
N/A
2 - Minor exposure and interest, or ambivalent reception.

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