Dentacoin, the Ethereum-based smart contracts platform developed to maintain a tokenized community of dentists, clients, and dental care organizations, is exceeding its investors’ expectations already.
The Dentacoin Foundation and its blockchain network strive to create a fair, transparent, and efficient ecosystem wherein individuals are rewarded for their contributions to the global dental community. One of the most anticipated aspects of the Dentacoin blockchain platform is its unalterable smart contracts-based reputation system. On the Dentacoin platform, customers and clients can rate dentists with detailed reviews. Since the reviews are embedded into smart contracts that will eventually be deployed to the Ethereum blockchain network, the reputation system of dentists cannot be manipulated and is immutable.
Through the creation of a tokenized economy using its ERC20 token called DCN that is compatible with the Ethereum network’s Ether, the Dentacoin platform and foundation aim to incentivize customers and clients that directly contribute to the Dentacoin community. Such contributions take the form of honest reviews, market research, and detailed information on particular dentists and dental clinics.
Dentacoin’s whitepaper notes:
“The basic idea is to provide and maintain a decentralized review platform based on Ethereum smart contracts. This website rewards high quality “patient reviews” and “market research surveys” with Dentacoin. The incentive structure has a strong influence on the quality of dental treatments and increases the mutual responsibility between dentists and patients. The review project will be the first major milestone on Dentacoins’ roadmap to the future of dentistry.”
While Dentacoin’s initial coin offering (ICO) is set to begin in 3 days, on October 1 at 14:00 UTC, Dentacoin has already been ranked on CoinMarketCap as the 83rd largest cryptocurrency in the world. Already, DCN has surpassed blockchain networks such as TokenCard and Tierion that have raised tens of millions dollars in their ICOs. At the time of reporting, Dentacoin’s market capitalization remains above US$51 million, and upon the completion of its ICO the value of DCN will likely rise even further.
According to the Dentacoin team, over 30,000 potential investors have already registered to participate in the ICO on October 1. More importantly, as the Dentacoin team conducts its ICO campaign, it will employ more aggressive strategies and advertising campaigns for global expansion, which will inevitably lead to an increase in the number of patients and dentists within the Dentacoin community.
Explained the Dentacoin team:
“Dentacoin is the first cryptocurrency that uses a decentralized review platform and transparently rewards patients and dentists who make contributions that benefit the community. The Dentacoin Foundation team strongly believes in building a future healthcare industry that will fall into the hands of the people, resulting in the disruption of the existing industries and the creation of new industries in the short and long term.”
The demand for DCN and the Dentacoin blockchain network is already increasing at a rapid rate because the cryptocurrency community has been waiting for crypto-tokens and currencies that can be utilized in real-world use cases.
In the upcoming months, as the Dentacoin community becomes more established, patients within the Dentacoin community will be able to use the token to pay for dental treatment and purchase dental products.
Even before its ICO, DCN is being traded on many international trading platforms and cryptocurrency exchanges such as Cryptopia, Coin Exchange, Mercatox, and Novaexchange.