Dental Foundation Aims to Monetize the Mouthbr>
Everyone visits a dentist at some point in their lives. Now an organization devoted to dental health, the Dentacoin Foundation of the Netherlands, is looking to capitalize on the initial coin offering (ICO) craze by instituting its own token sale for the Dentacoin.
The Dentacoin is an industrial blockchain concept using the ERC20 token. The goal is to create a forum for patient feedback via a blockchain for trusted dental treatment reviews. Dentists will have access to up-to-date market research data and qualified patient feedback.
Block Tribune asked Philipp Grenzebach, Co-Founder of Dentacoin Foundation/ Business Developer / M&A about the planned ICO and his favorite dentist joke.
BLOCK TRIBUNE: The mission of Dentacoin Foundation is to improve dental care worldwide. How do you intend to do that?
PHILIPP GRENZEBACH: Firstly, we believe in the ideas of Hippocrates: we see the dentists’ goal to keep their patients healthy, not just treated. This is a major difference to the current situation. Our foundation’s concept will benefit those dentists that work with best quality and to their best knowledge. The ones that proactively invite customers to be a part of the development process by constantly asking for feedback, recommendations, ideas.
Through the Dentacoin’s tools, patients will be provided with a tribune to speak their minds while simultaneously learn how to take better care of their teeth. Therefore, a co-creation process will be formed, where dentists and patients work together to create healthy habits and optimize products, services, certain activities and processes. A major step into building a patient-driven dental industry will be taken.
Several tools will be created to serve this purpose. To name a few: a Trusted Review Platform, an Aftercare Mobile App, an Educational Website, a Dental Insurance Concept, a Healthcare Database. Our pilot project is the first blockchain-based platform for trusted dental treatment reviews, aimed at being the most functional review and market research system ever, due to the transparent, incentive-based and censorship resistant nature of this blockchain based solution.
By using these tools, patients will be able to earn Dentacoins which could later be used for paying treatment invoices at our partner clinics – an important move into making dental care more affordable.
BLOCK TRIBUNE: Explain why the blockchain and cryptocurrency opens up the opportunity.
PHILIPP GRENZEBACH: Only the blockchain technology guarantees secure handling and storing of huge amounts of patients’ data. Furthermore, the blockchain concept allows information to be hold by patients themselves. They decide who they want to share their data with.
Another big benefit of the blockchain technology is that our payment systems can operate fully automated. No human forces nor banks are needed for transactions. That saves costs, prevents mistakes and manipulations. Especially with regards to the prevailing amount of small international payments.
BLOCK TRIBUNE: How many coins are available?
PHILIPP GRENZEBACH: In total, there are 8 trillion DCN available, which are already pre-mined. People keep on asking why we created so many coins. But the answer to that is simple. The concept of Dentacoin is global. And since all our tools are served with Dentacoins, a big amount (40% of the total DCN supply) is necessary to cover all different aspects of the dental industry. Bear in mind that our first tool, the Dentacoin Trusted Reviews Platform, is planned to be used by already 3 million users, daily. We need this big amount of coins in order to meet a growing demand.
Founders will receive 10% of all tokens which will be locked for a 24-month period. The Foundation, Bounty program, Advisors, Future team members and management will receive 9% of all tokens. Tokens will be used to reward contribution in a form of help: rewarding early program participants, advisors, new employees, etc.
Our hard-capped pre-sale will start on the 1st of July 2017 with a volume of 80 000 000 000 DCN (1% of the total supply). Our first hard-capped ICO will take place on the 1st of October 2017 and will have the following volume: 240 000 000 000 DCN (3% of the total supply).
No major institutional limits could be defined at the moment. However, there are local differences which we always consider. As for the rollout timeframe: The first 3 global campaigns are planned to generate 1% leads of the target market share, with the potential of 1.2 million wallets. Period: 2018- 2020.
The second step is reaching to 5% of the target market by the developed Health Database, Dentacoin Insurance and Trading Platform. This equals 6 million Dentacoin Wallets. Period: 2020-2022. The planned rollout for the period 2022 – 2028 will provide a total of 120 million Dentacoin wallets.
BLOCK TRIBUNE: Who are some of your backers?
PHILIPP GRENZEBACH: A half-a-year ago, we presented our project to a globally operating company in the target industry and triggered great interest. Dentacoin is already implemented as means of payment and as a part of a Patient Loyalty Program at first partner dental clinic since March 2017. Some other potential partners are particularly suitable, but we are in a very early stage of development at the moment and we would like to not mention any names.
BLOCK TRIBUNE: What is the state of dentistry? Are there new developments on the horizon that may be fuelled by the Foundation’s backing?
PHILIPP GRENZEBACH: The current state of dentistry is quite different to the rest of the health care industry. We are talking here about a highly fragmented market with many lone fighters and thus a low degree of industrialization. Right there we see our chance! The global dentistry will be improved and simplified through digitisation.
A worldwide applicable system that makes dedicated dentists more productive and creates a community around them. The relationship between dentists and patients will be completely changed. Both parties focus on the highest quality possible, now.
Automation, data exchange in manufacturing technologies, robotics, the Internet of things, cloud computing – these new developments open brand new horizons to dental industry worldwide. Dentistry is on the threshold to industry 4.0. We’ll help it cross the threshold!
BLOCK TRIBUNE: What’s your favourite dentist joke?
PHILIPP GRENZEBACH: My dentist told me I needed a crown. I was like, “I know, right?!”