DentaCoin is one of the more interesting cryptocurrency projects at the moment. And it has garnered quite a lot of attention for the interesting solution it offers to the dental industry.
Anyway, this article will cover what DentaCoin does, what makes DentaCoin unique, and cover all the financial information about DentaCoin including price, market cap, and where to buy DentaCoin.
What is DentaCoin?
DentaCoin is an ERC-20 cryptocurrency built on the Ethereum blockchain that plans on revolutionizing the dental industry with blockchain technology. It plans on doing this in four phases.
The first, and most well-known, phase is the first phase that has launched a review system for dentists. Basically, it’s a standard review system that rewards users a small amount of DentaCoin for leaving a review on the platform.
Now, that’s interesting, but it’s only one part of the DentaCoin project. Users will receive the DentaCoin and they have the option to either sell it or they can use the DentaCoin at any dentist that accepts it for discounts or other perks.
DentaCoin does not stop there, though. In fact, that is only the first phase of the project. Phase II involves launching a mobile app to help improve dental hygiene while collecting information about consumer habits that can help dentists improve their service.
The third phase involves launching an insurance platform that relies on smart contracts on the blockchain. It’s an interesting phase that moves DentaCoin from a simple review platform to a more comprehensive ecosystem fully utilizing blockchain technology.
The fourth, and final phase, is to launch a healthcare database on the blockchain that will allow seamless sharing of medical records across the industry. For those that don’t know, sharing medical records is extremely difficult due to the fragmentation of the industry. Essentially, it relies on one dental office manually sharing the information with another dental office.
It’s archaic and inefficient. It’s also the perfect system for blockchain technology to disrupt.
What Makes DentaCoin Unique?
It should go without mentioning what makes DentaCoin – there is not a single blockchain technology attempting to completely revolutionize the dental industry. There are some competitors attempting to do this in the traditional, non-blockchain sector.
However, blockchain technology will eat the world, and no one else is doing something this targeted at the dental industry.
Status of DentaCoin
DentaCoin offers weekly status updates on the DentaCoin blog. They recently launched their own mobile app called DentaCoin HubApp that makes it much easier to use DentaCoin at partner dentists.
Other than that, DentaCoin has mostly been working to add more dentists to the DentaCoin network. They even went as far as purchasing their own dental practice in London (using DentaCoin) to further move along this process.
DentaCoin Founders & Team
DentaCoin was founded by Dr. Dimitar Dimitrakiev. Dimitrakiev has nearly three decades of experience in automated systems and a PhD in automated system information technology.
The two other co-founders, Jeremias Grenzebach and Philipp Grenzebach, are experts in the blockchain industry and business/legal industry, respectively.
To keep things short, the entire team of DentaCoin is composed of experts in blockchain technology and the dental industry, which is the team required to take DentaCoin to the next level.
DentaCoin Price and Market Cap
The current price of DentaCoin is $0.0001543, which is few decimal places less than a cent. However, this is not a reflection of the project because the market cap of DentaCoin is a healthy $84 million.
The low price of DentaCoin is because the total supply is over 500 billion coins – way too many coins for the value of any cryptocurrency to project to have much value.
DentaCoin Price Prediction
The price of DentaCoin hinges on the success of the project. If the project is not successful, then the price of the coin will collapse.
Remember, it’s a utility token for the DentaCoin ecosystem.
With that in mind, we are fairly bullish on DentaCoin. Blockchain technology is slowly taking over industries, but it’s a new technology that will take time for mass adoption.
The problem, in our opinion, with DentaCoin is that it’s an extremely early and innovative blockchain technology in an industry that does not experience much change. That does not mean it will fail – it simply means that it will take much longer for it to experience mass adoption, and significant price increase, than other cryptocurrencies that target industries more open to innovation (ie. tech industry).
If you have a higher risk appetitive and a long term investment horizon, then DentaCoin appears to be a good investment. Of course, it’s always risky investing in cryptocurrency, so do your own research and understand the risks involved with investment.
Where to Buy DentaCoin?
DentaCoin is an ERC-20 token and it is available for sale on Uniswap. However, most of the trading volume for DentaCoin occurs on Hotbit, HitBTC, and SatoExchange.
In a more humorous twist, DentaCoin has a trading pair with Dogecoin on SatoExchange. In fact, that trading pair is the highest volume trading pair on SatoExchange!
That covers it for everything you need to know about DentaCoin. It’s an interesting project that does have potential to completely revolutionize an industry. The path to that revolution will not be easy, though.
Basically, the success of the project depends on the willingness of those in the dental industry to adopt the technology. It stands to reason that innovation always occurs followed by adoption, so the mass adoption of DentaCoin seems likely to occur at some point in the not too distant future.