Startups try to squeeze the new tech in everything regardless if it makes sense or has a working business plan but people still throw millions at it. Dentacoin is a senseless project that probably has no future but is still ranked very high (relatively speaking) on the coinmarketcap – just shows the stadium crypto craze reached in its peak.
That being said, let’s cover some activity and news around this project.
Dentacoin is currently quite distant from its ATH values. The last month was one of constant bleeding as the coin’s price dropped from its highs of $0,000429 USD/6 satoshi to the lows of $0,000321 USD/4 satoshi on the last day of July. August has started off a little better for Dentacoin, since we saw its price recover during the 4th and reach the values of 0,000407 USD/5 satoshi. To this day Dentacoin remained hovering just below these values and can currently be purchased for $0,000321 USD (6.61% drop in the last 24 hours)/5 satoshi (2.31% rise in value in the same time frame). A market cap of $104,558,798 USD makes Dentacoin the 67th most valuable cryptocurrency on the market.
Dentacoin is the first cryptocurrency that was designed specifically for dentistry. It aims to provide good dental care at affordable rates and also wants to reward people for good dental hygiene. Dentacoin is an Ethereum-based coin that eliminates the inefficiencies of the dental ecosystem by making it patient centric. The underlying blockchain currently has three products that are focused on dental care: Dentacoin Trusted review- a platform for trustworthy feedback of dental service, Dentavox- a market research platform, and DentaCare- a mobile app that helps people maintain good dental health.
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The system works like this: user pays a small monthly fee to Dentacoin, and in exchange receives ongoing health and treatment from a corresponding dentist. At the same time, the dentists get ongoing basic income through regular payments. The system also brings in one innovation – an “aftercare” app hosted by Dentacoin. This app lets the patient earn Dentacoin tokens for proactive steps they take to improve their dental health, thus incentivizing him to develop healthy dental hygiene habits. This patient-centric model could, in the long run, turn the dental care industry on its head and drive it away from its usual, procedure based care that we currently see in the markets.
The project currently runs a weekly updates blog, where they focus on delivering highlights and new developments around it. This past week saw them establish a partnership with ChangeNOW exchange and continue talks with 2 other projects that want to become a part of the Dentacoin network (further updates on who exactly these projects are will be available in the future). They are also holding discussions with an innovative dental company in India and a software provider in Europe that are willing to implement DCN. Check out the complete list of their last week’s achievements here.
Dentacoin and its accompanying ecosystem is definitely a market first. Incentivizing both the provider and the receiver is a model that is expected to bring about plenty of improvements to people’s overall dental health. You can check out the following guide to learn more about earning Dentacoin with the project’s DentaVox/Dentacare apps. In the long run (25 years), they aim to reach a dental industry market share of 10%, which means 600 million patients and 200,000 dentists. An admirable goal indeed, and one that will probably be very difficult to achieve. It remains to be seen if Dentacoin manages to fulfill its goals or if they simply decided to bite more than they can chew.