What is Dentacoin (DCN)? A Beginner’s GuideDentacoin (DCN) is the first blockchain concept designed to help make the global dental industry more affordable. Following a decentralized, Ethereum-based smart contract protocol, the DCN token rewards users through a system that inspires community contribution. Ultimately, the project’s mission is to make quality dental health care available to the nearly 80% of the world’s population without it.
By removing the middleman (big insurance companies) and placing authority back into patient’s/dentist’s hands, costs can be significantly reduced. One way this is accomplished is through the establishment of smart contracts directly between patients and dentists. These facilitate small monthly contributions of Dentacoin to dentists. Tailored directly to the patient’s needs, this smart contract solution will streamline dental care and remove the need for patients to pay high premiums to insurance companies.
According to the American Dental Association, the average American pays $544 in out-of-pocket expenses. As well, nearly 90% of costs can be avoided only if patients take preemptive care and visit the dentist at least 3 times a year. The problem is, going to the dentist is not the most pleasant of experiences for the average person, and fewer visits correlate with higher instances of gum disease, cavities, etc.
With Dentacoin, patients are empowered to take control of their preemptive dental care (such as proper nutrition/ flossing) and dentists benefit monetarily from patient’s long-term dental success. Unfortunately, the current dental system doesn’t encourage dentists to think of the long-term benefits to patients (due to economic disadvantages) and instead focus on short-term value.
Today, the global dental treatment industry is valued around $400 billion dollars, yet comes with high-cost barriers for both smaller companies and patients. In order to break into this industry, the Dentacoin Foundation is relying on the power of crowdfunding to harness its goals.
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