The First Blockchain Concept for the Global Dental Industry

Problem:

Nowadays a treatment with crowns and bridges fixed on implants is not affordable for most people. Patients are forced to choose unreliable, insufficient dentures. With time, this leads to a number of health issues, problems with self-esteem and an overall low quality of life. This affects 1 billion people, as health insurances do not cover this type of implant treatment. No money — no dental health? We believe this unfair reality needs to be changed.

Solution:

A sophisticated prophylaxis system will prevent 90% of all dental problems. The remaining 10% will be covered by a blockchain-based insurance — one of the long-term project of Dentacoin.

Blockchain Technology:

Dentacoin is based on the Ethereum blockchain. Dentacoin follows the ERC20 token standard which guarantees real currency security and fraud resistance. The dental insurance concept will be developed and executed as an Ethereum Smart Contract for maximum safety and minimum operating costs.

Why Blockchain? 3 main reasons:

1. Only contracts concluded inside the Blockchain structure could provide legal transparency, comparability and enforceability of the agreed obligations at a very low cost for all the involved parties. The contract is not concluded through intermediaries or insurance companies, but in a direct, responsible relation between the interacting parties. The logic behind is simple: the chance for manipulations of all kinds is eliminated.

Success factors:

1. The Dentacoin concept integrates the blockchain technology in a large, fast-growing, high-tech global market with a market cap of 500 billion USD (p.a.).

The Team behind:

Dentacoin is backed by a team with a real world business background — developers, marketing specialists, dentists, industry 4.0 engineers, macroeconomists, insurance economists, lawyers and financial experts from the UK, BG, IND, USA, DE, NL, F, RU and SA. In total approx. 120 people were involved in different aspects of the concept creation.

The Dentacoin value:

Each Dentacoin is legally bound to one share of the Dentacoin foundation and all its assets. The issuance of DCN is stated into the Foundation statute. The Director of the Foundation has no free decision-making power, but must adhere to the rules of the Articles of Incorporation. It is allowed for all coin holders to vote for important decisions regarding the foundation. As a result, we also subject the Foundation to the public control of all DCN owners.

Dentacoin as a means of payment

As a part of the test phase of the concept, Dentacoin is already being used as a means of payment and as a part of a Patient Loyalty Program in partner dental clinics. According to them, Dentacoin is a highly beneficial tool for creating a community with the patients and for improving the service quality in accordance with patients’ needs. Hundreds of patients already receive and spent Dentacoins.

Happening right now:

The team is currently (February 2017) in negotiation with a state-of-the-art dental clinic with an integrated digital laboratory in London. This dental surgery is about to be purchased as a pilot clinic in order to further develop the concept under practical conditions. The business plan of the company is valued using the discounted cash flow method (DCF) to aprox. GBP 90 million. It looks like the seller will accept the purchase to be made exclusively in Dentacoins. This would be a very big step for the DCN value development.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Dentacoin

Dentacoin

Healthcare Industry should be in the hands of the people.