“Blockchain Dental Assurance” Goes Live as Mobile Payments Tool Dentacoin Launches its Testnet

January 3, 2019         By: Steven Anderson

One of the last major events of 2018, as far as the mobile payments space goes, is the arrival of the Dentacoin Assurance system. Allowing dentists to effectively accept Dentacoin cryptocurrency as payment for services, the testnet is designed to both automate and secure the process as a whole.

Dentacoin was originally designed as a way to address the growing problem of lack of access to dental care, especially in the wake of insurance catastrophes that hit the country starting after the financial collapse of 2008. With so many other medical problems having a direct connection to oral health, the notion of improving access to oral care offers some direct benefits not only for the person whose mouth it is, but also for the wider medical and insurance industries. Yet preventative care often goes by the wayside, especially as insurance falters and costs are left to the patient him- or herself to bear.

This is where Dentacoin can step in, offering dentists payment in the cryptocurrency to help supplement income and reduce costs to the patients. Dentacoin can effectively broker a contract between the patient and the dentist. With a Smart Contract generated between the two, the premium required by the contract is paid in Dentacoin, while the patient performs a variety of tasks designed to improve oral health, like coming in for checkups and engaging in a certain number of teeth cleanings.

Of course, the big problem here remains that Dentacoin itself is starting to resemble Venezuelan currency in terms of overall value. Dentacoin is currently running just over 7,000 to the dollar, which is actually improved from late October figures putting it at 9,344 to the dollar. It’s a safe bet that there won’t be many dentists eager to become Dentacoin multimillionaires the first time they perform a teeth cleaning. Further, where are patients to actually get this Dentacoin to begin with? Granted, there are provisions for it in leaving reviews and the like, but unless you can actually pay your dentist bill with teeth brushings or computer cycles, then there’s little point.

Dentacoin is an exciting idea, but it’s clear there are still issues that need to be worked out before it can catch on in any kind of widespread fashion.