Dentacoin (DCN) – Everything You Need to Know
What is Dentacoin?
Dentacoin is an Ethereum-based smart contract protocol with the goal of providing a decentralized payment and incentivization infrastructure for the dental industry. It is aimed at removing the middle-men in the dental industry, for example, big insurance companies and providing a decentralized review platform with a build-in reward system.
The core of the protocol is a platform for transparent and trusted dental treatment reviews. This gives power to the customers and allows dentists to have access to market research data and honest patient feedback.
The Dentacoin token is issued to patients that write quality reviews and participate in the ecosystem and can be used as a payment for dental treatments.
Key features of the Dentacoin ecosystem:
- Dentacoin token (DCN): an ERC20 token that can be used to pay for dental treatments
- Trusted Review Platform: Patients can write reviews of dental treatments on an immutable ledger. Every Review is rewarded with DCN
- Dentacare Mobile App: incentivized gaming program that educates users on proper dental hygiene.
- DentaVox Opinion Platform: a tool for Customer Intelligence that rewards users for giving feedback on dental topics. This data can be used from Dentists for market research.
- Dental Assurance Concept: a tradeable smart contract between a Dentist and a patient. Both parties must perform certain tasks to receive monetary rewards. Patients must maintain proper mouth hygiene and Dentists have to perform good dental treatments.
- Healthcare Database: secure storage of medical records on the blockchain.
- Trading Platform: for dental products and equipment.
The ICO to fund the project ended at 1. November 2017 and 1,923,507 USD was collected, which is ~7% of the initial hard cap. Dentacoin is developed by the Dentacoin Foundation, which has roughly 20 core team members and was founded by Prof. Dr. Dimitar Dimitrakiev, Philipp Grenzebach , and Jeremias Grenzebach.
Dentacoin purchased a dental clinic in London in July of 2017 for the equivalent of 90 million USD in DCN tokens.The foundation is planning to buy more dental facilities.
Can Dentacoin be mined?
No, DCN is a Utility token on the Ethereum network. It cannot be mined, but it can be earned through work (writing reviews, providing data, etc..)
What differs Dentacoin from other Cryptocurrencies?
Dentacoin is a decentralized ecosystem that is solely aimed at the dental industry. It is not intended to rival traditional cryptocurrencies instead DCN is focussed on improving one specific industry. It is designed to reward both parties, patients, and dentists for using it.
How much is Dentacoin worth today?
What is the total and the circulating supply?
The total supply of DCN is 1,963,173,416,170 and the circulating supply at the time of writing is 325,226,613,094 DCN. The maximum supply of Dentacoin is 8,000,000,000,000.
Where can you buy DCN?
You can buy DCN on several cryptocurrency exchanges, most notably HitBTC and IDEX.
Can DCN be sold for cash?
The trusted Review mainnet is live. Dentacoin is working on expanding their ecosystem with a decentralized Assurance testnet, a healthcare database and by purchasing more dental facilities.
Verdict and Rating
0/10 Dental care on the blockchain, what could I say? This does not need a blockchain, nor does it need specific cryptographic tokens that are aimed at one specific industry.
If we continue this thought, then we have a future where you pay for every good and service with its own industry-specific tokens. You have to carry a wallet with hundred or thousand tokens that are aimed for one defined use-case. This will not happen.
Additionally, traditional blockchains suffer from scalability issues by solely relaying transactional data, and Dentacoin wants to store entire healthcare databases on the Ethereum blockchain. This is uneconomic nonsense.
DisclaimerThe writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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