Currently, more than 80% of the world’s population cannot afford proper dental care. Dentacoin’s dental solution develops the world’s largest blockchain health network to address these issues, operating in a $400 billion market. It aims to tackle existing issues in the dental industry by utilizing the blockchain. Driven by a big community of progressive dentists, software engineers and marketing specialists, Dentacoin’s goal is to create an ecosystem that benefits all participants in the industry.
The Dentacoin team, based out of the Netherlands, managed to raise over $2 000 000 during the duration of their crowdsale.
Dentacare is a mobile application which aims to make both kids and adults maintain good dental hygiene through an incentivized three month challenge. Users receive reminders, guides, and notifications utilizing voice navigation aimed at teaching them to maintain proper dental care habits. The app is also helpful for dentists, as they can use it as a way to encourage proper in-home hygiene.
DentaVox is a market research platform that collects information from customers via various surveys on different dental care topics. Users are rewarded with Dentacoins after each survey as a token of appreciation for their contribution to the improvement of the dental care industry. Dentists, dental suppliers and media can gain access to key research results, providing them with valuable market overview.
The third part of the Dentacoin ecosystem is its Trusted Reviews Platform. It’s the first platform for detailed dental treatment reviews. Patients are rewarded for their feedback while Dentists are incentivized to improve on the feedback.
There are quite a few issues with the Dentacoin project, some of which are not minor. First off, while the project is based out of the Netherlands, it’s mostly ran by a team of Bulgarians and people from Eastern Europe, ironically enough, none of the co-founders have any experience in the dental industry.
Many of the team members have LinkedIn profiles with false information and even the founder, a Bulgarian professor, has no background in the dental or blockchain sectors whatsoever which is a huge red flag on its own. To me at least, it would seem that the developers paid this man a premium to put him as a founder of their project, as having a founder with such a high level of education would make the project seem more reputable.
Also, a reddit user noticed that their partnered dental clinics had brand new websites with fake facebooks and that they all could be backtracked to the same address in Bulgaria, where they were most likely bought with ICO money. The same reddit user was banned for revealing this.
All in all, Dentacoin certainly seems like a shady project. Although they have a working app, being rewarded with tokens for brushing your teeth seems like a silly concept that has no blockchain proposition whatsoever. Definitely approach with caution.
