May 12, 2018
Dentacoin cryptocurrency is a type of cryptocurrency designed for the dental field. Dentacoin, commonly denoted as DCN, is the first blockchain currency for purchasing global dental services and products. It is a digitally created and secured currency in the form of DCN token used as a worldwide payment method. By definition, cryptocurrency is a digital currency or asset, designed to work as a tradable entity or medium of exchange, which utilizes the encryption technique of cryptography to regulate transactions, control generation of additional currencies and validate transfer of funds.
The Dentacoin Foundation is composed of 20 core members and was founded by Philipp Grenzebach, prof. Dr. Dimitar Dimitrakiev, and Jeremias Grenzebach. A highly respected university professor and a member of the IEEE Computational Intelligence Society, prof. Dr. Dimitar Dimitrakiev is the ‘Financial Market Expert’ with more than 25 years of financial market experience. Jeremias Grenzebach, who majored in Business & Management and Law & Economics, is the ‘economic brain’ behind the Dentacoin while his brother Philipp Grenzebach, with 8 years of experience in the digital world of blockchain, is the ‘code wizard’.
The concept behind Dentacoin aims to improve the quality of dental care worldwide by:
• Making dental services more affordable by eliminating the supposed costs entailed by middlemen (like insurance companies)
• Giving focus on utilizing preventive dental care, which are less expensive, rather on spending much on treating major dental problems
• Allowing clients to earn DCN tokens as rewards in providing genuine dental reviews, recommending preferred dental professionals and clinics and participating in dental surveys
The DCN involves the following key features:
1. Blockchain based trusted review platform – this platform ensures that patient reviews are published in an unbiased and fair manner. These reviews will in turn be rewarded with corresponding DCN tokens which can also be used to pay for future dental services
2. Dentacare mobile app – this mobile app provides instructional dental care guidelines and sustainable oral hygiene habits. It also provides an emergency service function that would allow users to directly contact dental specialists available in the network
3. DentaVox opinion platform - this platform gathers client insights on specific dental topics which can be utilized by dental professionals, dental service providers, manufacturers and suppliers
4. Dental assurance concept – this provides the smart contract between the dental care provider and the patient to ensure that both parties perform and comply with the expected terms
5. Healthcare database – the blockchain gives secure database for storage of records and for data exchange after securing consent from both parties
6. Trading platform – trading of products and equipments can be traded worldwide using DCN thus eliminating long supply chains, costly tariffs and international trade rates.
Dentacoin is an ERC-20 compatible token which is Ethereum-based. It functions on the ethereum blockchain which is a public, decentralized platform that secures smart contracts and runs application exactly as how it was programmed eliminating the possibility of fraud, downtime and third party interference. Currently, the circulating supply is around 325 billion DCN with a maximum supply of 8 trillion tokens thus DCN cannot be mined. It cannot be purchased directly through fiat currency. You will need to purchase another cryptocurrency first then trade it an exchange to DCN. The easiest to purchase is either a Bitcoin or an Ethereum. The mostly recommended, easy to use, safe and reliable way to purchase cryptocurrency using bank transfer, credit and debit cards is through the Coinbase. You will have to register and sign up with Coinbase then click on the ‘Buy/Sell’ tab, select either ‘Bitcoin’ or ‘Ethereum’, enter the amount you wish to purchase then choose the payment method. Thereafter, you can send it over to an exchange for a DCN through Cryptopia, HitBTC, CoinExchange and Mercatox.
Since DCN is an Etherium token, it can be safely stored in most Ethereum wallets and it is designed to be used globally by all. Patients can use it to pay for dental products and services from various facilities, who accept payments in the form of DCN, all over the world like Park South Dentistry (New York, USA), Dental on Flinders (Melbourne, Australia), Dentech Dental Care (Pune, India), Mr. iTeeth (Taipei, Taiwan), F3T Dental Clinic (London, UK), etc. Moreover, tracking, updating and viewing of DCN balances and transactions can be done. Also, the patient and health care facility/provider can request, send and receive DCN tokens to any Etherium based wallets wherein both parties involved will be able to view transactions with full transparency.
What is Dentacoin?
Dentacoin (DCN) is a decentralized blockchain cryptocurrency designed for the dental niche.
How do I buy Dentacoin?
You will have to buy Bitcoin or Etherium first and then convert these two cryptocurrencies into Dentacoin. This may happen through various cryptocurrency exchange platforms.
Can I mine Dentacoin?
No. You can't mine Dentacoin. You can exchange it for other cryptocurrencies.
What can I pay with Dentacoin?
Currently there are several practices across the world accepting Dentacoin for treatments and cosmetic procedures. Their number is expected to be growing.
Is Dentacoin trackable?
Dentacoin is a non-trackable cryptocurrency and can be used anonymously.
Does Dentacoin depend on Bitcion?
Yes, it does. Dentacoin depends on the price of Bitcoin and Ethereum.
Where can I trade Dentacoin?
Currently, the cryptocurrency trade platforms that allow buying Dentacoin are Cryptopia, HitBTC, CoinExchange and Mercatox.
How many Dentacoins are out there?
Up to this date there are exactly 325,226,613,094 DCN