As per the data, an average expense for dental care shelled out by an American is approximately $544. It has been noted that a large number of dental expenses can be prevented with improved diet, tri-annual checkups, and regular cleanings. Around 80% of the global population can’t afford a quality dental care, while dentists opt for short-term procedures owing to economic incentives over long-term care lessening strategies.
Thus to clear this issue, Dentacoin, which is a cryptocurrency based on Ethereum blockchain, was established by Philipp Grenzebach. This lays a foundation for world’s largest health network based on the blockchain. This involves a service that enables the patients to pay a minimum fee to the firm and in return reap the benefits for healthcare and treatment with no cost. The dentist is paid on the basis of his current basic income. The twirl in this novel system is to provide a quality care for teeth and boost nutrition in an incentivized format.
There is also a post-care app developed by Dentacoin through which patient can easily earn tokens of Dentacoin for practical initiatives they take to enhance their dental health. As a conclusion, both dentists, as well as patients, are incentivized to perk up long-term care. If this system achieves that momentum, it would be a paradigm shift in the healthcare industry and would be readily adopted over procedure-based care that is most common in majority markets.
The dentistry sector is controlled by 1.6 Million dentists around the globe, which makes it a highly segmented market that is applicable to every individual. And on such landscapes, blockchain technology is an ideal model to be deployed in the sector. The key focus is to deliver an industry-centric solution that enhances the quality of the treatment and make it reasonably priced by dropping the price and directing advantages for the key market players.