Founded in March of 2017 in the Netherlands, the Dentacoin Foundation is the organization that has developed the dental industry’s first Ethereum based Blockchain solution. The Foundation has established a new dental ecosystem, which is beneficial for all the stakeholders: dentists, patients, manufacturers, distributors, laboratories, and insurance companies, thanks to its cryptocurrency – Dentacoin (DCN), and a set of incentivized software solutions. In this scheme, the patient pays a nominal monthly fee to Dentacoin and receives continued free healthcare and treatment from the participating dentist in exchange. At the same time, dentists earn continued primary income from the organization.
The initiative will ultimately help users save money by redeeming Dentacoins for dental treatment or dental supplies. Dentacoin is thus a cryptocurrency unique to the dental industry.
● But how does one get hold of Dentacoins?
In reality, Dentacoin isn’t intended to be used as a currency. Instead, it seeks to turn the dentists and individuals ready to review them into an avant-garde rewards program. Dentacoin encourages patients to post public reviews of the dentists they visit. The company has established a trusted review platform that claims patients may publish their reviews without censorship on the blockchain. The Dentacoin trusted reviews primarily offer infrastructural solutions for credible and thorough patient feedback for dentists to improve upon. In return, the platform provides incentives for participation in the form of Dentacoins. The patient can also obtain Dentacoins for proactive efforts to enhance their oral health via a Dentacoin aftercare application. This incentivizes the dentist and the patient to improve long-term care.
One can avail dentacoin by :-
-Creating a wallet via Dentacoin Wallet dApp — it’s user-friendly, easy-to-use, and secure.
-Creating a wallet through a third-party provider supporting Dentacoin (DCN) currency
● Why Dentacoins?
Dentacoin is the only cryptocurrency in the world that links all dental industry participants globally. As opposed to inflation-prone world currencies, it can potentially make people richer than poorer. Dentacoin essentially has a significant social dimension – it enables people to receive affordable, sustainable dental treatment and earn additional royalties for active use of Dentacoin applications. The Dentacoin Foundation’s Blockchain-based software tools distribute Dentacoin cryptocurrency to critical end-users (i.e., patients, dentists, manufacturers). They receive varying amounts of Dentacoins in exchange for publishing reviews about their dentist, taking dental surveys, and keeping good oral hygiene via their applications. As a result, members of the Dentacoin Ecosystem are encouraged to contribute to the advancement of dental care on both a personal and global scale.
● How does it play out?
The ambitious project plans on being introduced in four phases. The trusted reviews platforms form part of phase Ⅰ, whereas Phase Ⅱ incorporates a mobile survey/polling application and encourages good dental practices. The project gets even more ambitious in Phase Ⅲ, and Ⅳ as a blockchain and smart contracts backed-up insurance system is underway. In phase Ⅳ, Dentacoin seeks to render an online patient-managed health database that will hold medical records using its decentralized blockchain.
● Dentacoins and the covid-19 pandemic
Dentacoin’s keynote “Care more, cure less” finds logical methods to present itself in the broader context of general health prevention in these trying pandemic times. Dentacoins has always had the best interests of its patients in view, and the organization partners have been developing innovative, digital approaches to patient care such as teledentistry, video consultations, and easy, innovative payments through Dentacoins. It hopes that by opening up to more direct contact and taking an active interest in patients’ dental health, patients would become more conscious of their regular dental checks and oral care routines. Dental practitioners can use the Dentacoin platform for marketing their practice free of charge.
Currently, Dentacoin has been integrated into the workflows of patients and dental practitioners in 10 countries. It is also accepted as a payment method. The company is sure that this will continue on a larger scale in the future. This system promises a new healthcare paradigm in the long run of time.