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:
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.
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.
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.
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.