This interview is part of our new Blockchain In Healthcare series, where we interview the world's leading thought leaders on the front lines of the intersections between blockchain and healthcare.
In this interview we speak with Donika Kraeva, Marketing Manager at Dentacoin Foundation, to understand how her company is using blockchain to transform the healthcare business, and what the future of the industry holds.
1. What’s the story behind Dentacoin? Why and how did you begin?
DK: The idea has been born in a small work group of dentists, business executives and software developers where Dentacoin’s founders participated as well. While discussing the challenges faced by dentists worldwide and the advancements in the field of digital dentistry, Jeremias Grenzebach (currently Co-Founder and Core Developer at Dentacoin) brought up the topic about applying blockchain solutions for better patient engagement, improved efficiency and alternative payments. Тhe main issue addressed from the beginning was the lack of focus on preventive dentistry by both dentists and patients.
2. Please describe your use case and how Dentacoin uses blockchain:
DK: Dentacoin is the first and only blockchain solution for the global dental industry where the technology is applied to make preventive dental care affordable through the first dental assurance plan regulated by smart contracts, to boost patient-dentist relations through various incentivised applications, as well as to enable secure storage and efficient transfer of data and value.
Blockchain allows us to provide automated and mutually beneficial solutions to all key players on the market. Dentacoin Assurance e.g. enables smart contracts that entitle patients to life-long care against affordable monthly payments in the same-named currency (Dentacoin, DCN) while simultaneously helps dentists earn regular income and build solid patient base.
What is the role of the Dentacoin token? What benefits does it bring?
DK: The Dentacoin (DCN) token plays a key role when we talk about benefits as it is utilized as an incentive that fosters participation and motivates beneficial behaviour. Patients are rewarded with DCN for providing valuable feedback to dentists on Dentacoin Trusted Reviews, taking DentaVox surveys, maintaining proper dental hygiene through the Dentacare app. Dentists are rewarded with DCN for their willingness to become partners, for testing, patient referrals and overall contribution.
The same tokens can later be used: -by patients for covering dental treatment costs or Dentacoin Assurance premiums; – by dentists for buying dental equipment and supplies or reward patients and employees; – by all holders for exchanging it against other crypto and traditional currencies, spending it on various goods and services (through Bidali gift cards), or holding it for later use and/or value multiplication.
3. Could you share a specific customer/user that benefits from what you offer? What has your service done for them?
DK: Currently, Dentacoin applications are used by 90,000 individuals and 1,800+ dental offices while the currency itself is accepted for payments by dentists, suppliers, service providers in 25 countries.
The main effects reported by partner dentists are higher retention and referral rates, improved feedback flow, better online presence, positive impact on their reputation as forward-thinking practitioners. Those are also described in the case study we have published about one of the first Dentacoin partner clinics – F3T Dental Clinic in London, UK.
4. What other blockchain healthcare use cases are you excited about?
DK: Except for the use cases we are currently focused on, I am also excited about the possibilities to jump over the software borders and implement blockchain functionalities in medical equipment.
5. Where will Dentacoin be in five years?
DK: As per our plans: in 20,000 dental offices.