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Dentacoin (DCN) Introducing Blockchain to Dental Industry

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Dentacoin
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Dentacoin (DCN) was introduced to the cryptocurrency market in August 2017 and has since then climbed to the 57th position on the crypto coin rankings list of coinmarketcap.com. DCN has had a major rise of 50.51% (at the time of writing) since yesterday and the price shows nearly $0.001280 USD. The market cap of the crypto coin is above $416 million USD and the volume (24h) shows $4.85 million USD approximately. (As of 10th May 2018)

A little on Dentacoin (DCN)

Dentacoin is the first blockchain that aims to make the dental industry all over the world affordable by developing distributed ledger technology or DLT. The Dentacoin blockchain follows the decentralized, smart contract protocol of the Ethereum blockchain. It is also used to reward the patients, service providers through a system that encourages them to contribute towards the community. As stated in the white paper of Dentacoin, “Dentacoin chooses to reward those who contribute to trusted reviews, dental practice registrations and valuable feedback content for the industry. “The rewards are directly connected to the level of participation.” Those who participate will have the opportunity to buy DCN directly from the Dentacoin network and trade the coins. The main objective of Dentacoin is to provide quality dental care to at least 80% of the populous at a much lower rate.

The network plans to do so by eliminating the need of middlemen like insurance companies and handing over authority directly into the patient and doctor’s hands. This is an effective way of reducing the costs. The way to do this is to develop smart contracts directly between the dentists and the patients. This includes small monthly contributions to the dentists in DCN. The patients’ well-being has been prioritized here and this smart contract solution will provide proper dental care to the patients, eliminating the need to deposit high premiums to insurance companies. The patients can also earn rewards by writing “trusted reviews”. There is also the option of writing standard reviews where anyone can write them. To make sure that it is in truth a trusted review, the partner dentist will take the email address of the patient in the medical office before the treatment starts and a review request will be sent to the given email id. The patient will be able to access and post on reviews.dentacoin.com only through the provided link.

Properties of Dentacoin:

Dentacoin is a blend of logistics platform and financial tech tool. There is no intention of the team to make the Dentacoin token a medium for global payments, unlike other peer to peer decentralized altcoins. Thus, it has often been observed as a non-competitive crypto coin that simply focuses on developing the global dental industry by incorporating blockchain technology.

  • Trusted and Standard review platform: The standard reviews section allows anyone to post a review but the trusted review section is only for the patients who have been treated by a dentist through this platform. The patient reviews are published in an unbiased way such the potential clients can get a true opinion of the platform and the services. The patients who have written reviews will be awarded DCN that they can use as a form of payment in their next visit.
  • DentaVox opinion platform: According to the official website of Dentacoin, DentaVox is “A WebApp for collective customer wisdom, which serves as an up-to-date market research data through questionnaires and rewards.” This is beneficial for the media, the manufacturers, the suppliers and the dentists.
  • Healthcare database: The Dentacoin network ensures a secure platform for data exchange and storage of medical records. The medical records can be accessed by the dentists only and by the patients who have been given exclusive permission to their own medical records.
  • Dentacare mobile app: This objective of this app is to “form long-lasting dental care habits through an intensive 3-month program in an engaging gamified environment.” (white paper) The app contains tutorials and has features like notifications, reminders and voice navigation that will the people to maintain their dental hygiene and build healthy habits. It also has an emergency function that enables the users to get immediate advice from the dental specialists registered on the Dentacoin network. The app is immensely beneficial for children and their parents can help them develop healthy habits through the Dentacare mobile app.
  • Dental assurance concept: Dentacoin shares its feedback platform with other value-creating solutions focused on dental care such that the solution reaches all the corners of the world. The dental insurance smart contract developed by the network will be active between the individual and their visiting dentist such to provide quality treatment at an affordable rate.

Recently, Changelly has listed Dentacoin (DCN) where DCN can be bought and exchanged with several other altcoins. According to Jeremias Grenzebach, co-founder and core developer at Dentacoin Foundation, this listing will open up many new opportunities for Dentacoin.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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