Blockchain technology is hailed as revolutionary by many experts, pundits, and early-adopters. The real test, however, will come from active applications across major industries. Some sectors that are toying with the idea of a decentralized system such as blockchain include energy, finance, construction, entertainment — particularly for content distribution — and even transportation.
Dentacoin is one such decentralized platform, leveraging the open and secure properties of blockchain to connect patients and dentists worldwide. More specifically, it’s an effort to introduce blockchain technology into the world of dental care.
Similar to medical and health care, there are many inefficiencies and problems with the way the dental industry is set up. For starters, dental care can be incredibly expensive — even for simple or basic operations. Dental insurance is often considered extra for most policies, which means people have to subscribe separately if they want to secure coverage.
Patients also tend to put off dental care and simple cleanings, choosing only to visit in the event of major emergencies. This can balloon costs significantly, especially when most of these problems can be remedied with proper checkups. Extenuating circumstances include things like broken or chipped teeth, severe oral pain, and similar experiences.
To make matters worse, dental health records are often fragmented because patients will change their providers frequently, especially if there are several operations needed — surgeons, specialists, and hygienists are all separate entities.
Finally, people tend to have issues trusting new providers, especially when it comes to dentists. There’s no clear way to measure the reputation of a dentist or their office, at least not credibly.
What Does It Do?
The Dentacoin financial system was designed to solve many of the issues plaguing the industry, hopefully changing it for the better. It is meant to support and facilitate low-cost operations with higher efficiencies for involved professionals and improved care for their patients. How?
- Lower costs: Through blockchain, the Dentacoin platform will allow patients to directly pay for services and supplies, cutting out costly intermediaries and lowering fees. It will also help reduce medicine supply issues.
- Enhanced insights: Built on the Dentacoin blockchain, DentaVox is a crowdsourced market research platform meant to gather crucial ideas for dental professionals and companies. Patients are incentivized by answering and participating in various surveys, with the information passed on to dental professionals.
- Trusted reviews network: A dedicated review and feedback platform allows patients to make verified claims about their dental providers. Alternatively, it means interested parties can review the reputation and performance of particular dentists to find a good fit. All reviewers must be verified as past patients, and blockchain technology can help prevent tampering or repeated unauthorized access to reviews, making them that much more trustworthy.
- Awareness and education: A three-month long monetized course and further lessons are offered through a mobile app. This helps patients — including children — become more aware of dental hygiene and the role they play. Ultimately, it will help ensure basic maintenance and cleaning to cut down on future dental issues.
- Affordable insurance: Provided via Dentacoin, an exclusive insurance program will ensure patients have reasonable coverage at an affordable premium. It will emphasize preventive dental care, as opposed to reactive events and operations.
- Secure records system: The entire blockchain will be backed by a holistic and open database that makes proper use of the privacy and security afforded by the native technology. Patient dental records are stored in the blockchain, accessible only by professionals and record owners. It allows for more complete records when patients exchange providers.
Is Dentacoin Even Possible?
Dentacoin is up and running as we speak, supporting over 70,000 active users. Also, more than 4,000 dentists worldwide have already begun honoring and using the technology. Even better, medical instrument, medication, and lab providers have entered the fray too, which will help lower costs thanks to direct interactions between parties.
If all goes well, Dentacoin will become the industry standard, changing the future of the entire market for the better.