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Dentacoin (DCN) is a cryptocurrency developed specifically for use in the global dental industry. As an ERC-20 token, Dentacoin utilizes the Ethereum blockchain. By providing a set of incentivized software tools and a unique model of dental insurance (all of which use DCN), Dentacoin hopes to create a new ecosystem that shifts the focus of dentistry from “sick care” to “preventive care.”
Dentacoin was created by the Netherlands-based Dentacoin Foundation, which was co-founded in March 2017 by Professor Dimitar Dimitrakiev, Jeremias Grenzebach, and Philipp Grenzebach. Before Dentacoin, Dimitrakiev was a university lecturer and spent over 27 years in the financial markets. Jeremias was an early blockchain enthusiast and contributed code to Ethereum, Waves, ZCash, uPort, Status, imToken, and Byteball. Philipp studied law, economics and business management. Although the organization is called a “foundation,” the corporate entity is registered as a for-profit business.
The Dentacoin ecosystem consists of Dentacare, DentaVox, Trusted Reviews, and Assurance. Dentacare is a mobile app that teaches good oral hygiene through a 3-month challenge. Users can earn DCN from using the app. DentaVox is a market research platform that collects patient feedback through surveys. Users are compensated with DCN after each questionnaire is submitted. Trusted Reviews is a platform for verified dentist reviews. According to the website, patient identities are verified through the blockchain and are rewarded with DCN for providing honest feedback. Assurance is a dental insurance-like program where patients pay a low monthly premium in DCN to their dentists and in return receive lifelong, prevention-focused dental care. DCN can be used to pay for dental treatment, dental care products, or exchanged for other currencies.
The Dentacoin Foundation believes its ecosystem will benefit dentists as well. By joining the Dentacoin Network, dentists can earn more stable basic income via Assurance, create a more loyal customer base via Trusted Reviews, and improve customer satisfaction via DentaVox. Dentists will be able to use DCN to buy dental supplies and dental equipment from participating merchants.
In June 2017, the Dentacoin Foundation bought Dentaprime, a London-based tooth implant clinic, for 31.5 billion DCN.
At the time of this writing, there are over 90 locations worldwide participating in the global Dentacoin Network and accept DCN payments. Dentacoin partners can be found in the United States, Australia, the United Kingdom, Italy, Austria, Netherlands, Germany, Spain, Hungary, Bulgaria, Serbia, Malaysia, Taiwan, Pakistan, Fiji, India, and the United Arab Emirates.
The max supply of DCN is 8 trillion tokens, all of which have been pre-mined and will be distributed via time-locked contracts as adoption grows.
The ICO for Dentacoin occurred on October 2017, where 3% of the total supply went on public sale. They raised approximately $2.6 million.