On which platforms can DentaCoin (DCN) be purchased?
Dentacoin (DCN) is the first blockchain concept designed to make the global dental industry more affordable. Following a decentralized intelligent contract protocol based on Ethereum, the DCN token rewards users through a contribution system within the community.
To put it simply, the project’s mission is to provide quality dental health care to nearly 80% of the world’s population without it.
Indeed, by removing the intermediary (large insurance companies) and putting authority back in the hands of the patient/dentist, costs can be significantly reduced. One way to do this is to establish smart contracts directly between patients and dentists. These facilitate Dentacoin’s small monthly contributions to dentists. Tailored directly to the patient’s needs, this intelligent contract solution will streamline dental care and eliminate the need for patients to pay high premiums to insurance companies.
Because it is a problem that exists. According to the American Dental Association, the average American pays $544 in out-of-pocket expenses. In addition, nearly 90% of costs can only be avoided if patients take preventive care and visit the dentist at least three times a year. The problem is that going to the dentist is not the most pleasant experience for the average person, and that fewer visits are correlated with higher cases of gum disease, cavities, etc.
With Dentacoin, patients are empowered to take control of their pre-emptive dental care and dentists benefit (financially) from the patient’s long-term dental success. Unfortunately, the current dental system does not encourage dentists to think about long-term benefits for patients (due to economic disadvantages) and focus instead on short-term value.
Today, the global dental treatment industry is valued at about $400 billion, but it presents costly barriers for small businesses and patients. In order to break into this industry, the Dentacoin Foundation relies on the power of crowdfunding to achieve its objectives.
How it works: for what purposes can DentaCoin (DCN) be purchased?
To understand how Dentacoin works, it is useful to understand the concept of intelligent contracts. The White Paper on the project also provides a good explanation of intelligent contracts, describing them as “IT protocols in the Ethereum blockchain that facilitate, verify, negotiate and conclude contracts between individuals and their contracting parties”.
This may seem complicated for those who are not familiar with crypto-currencies, but a simple way to think about the DCN Smart Contract is to link it to the processing of a cheque. Someone writes a specific amount on the cheque with their name and signature, the cheque is then delivered to the bank that “validates” it and the intended recipient receives the money. Only if all these conditions are met can the transaction be completed.
As with DCN smart contracts, a series of events must take place and obligations must be fulfilled (such as the completion of a service) before DCNs can be transferred. However, this time you do not need a bank or intermediary to verify that the obligations are being met. Not bad, is it?
In addition, users can send or request DCN tokens to any portfolio based on the Ethereum blockchain. Both parties involved in DCN transfers will be able to view their transaction history in the general ledger in a transparent manner and view account balances in the contract update status.
Our review: should we buy DentaCoin (DCN)?
The main use case of this project is difficult to ignore. Other medical blockchain projects such as MediBlocs have also been successful in targeting the health and care industry in general. Although Dentacoin focuses solely on the dental industry, the similarities between the two projects (decentralizing medical records and rewarding the community’s contribution to the platform) should be noted, MediBloc could attempt to dominate the global healthcare industry.
The founders of Dentacoins do not own the majority of tokens (like Ripple) and the development team seems to be competent enough, which are good signs to buy.
In addition, the Dentacoins white paper gives readers a detailed roadmap for their target markets in the short, medium and long term, until 2042.
That being said, it is one of the blockchain projects that clearly defines its objectives with numerical values (as shown in detail in the white paper). In addition, it is one of the few projects that has a use case, as can be seen in their London dental practice purchased in 2017. A project to be closely monitored.