As you might have already noticed, we like the number 8 (the symbol of Dentacoin means 8; the total amount of Dentacoins produced is 8 trillion, Ed.). The number 8 could actually be considered as a metaphor for the eternal possibilities in front of Dentacoin. What do we mean with that? Dentacoin does have the potential to become a global currency. Here are 8 reasons why:
The minimum required volume of a FIAT currency in order to have a chance for a global use is 5% of the total FIAT currencies volume. Today, all of the world’s money equals USD 160 trillion. The total amount of Dentacoins produced is 8 trillion, meaning 1000 DCN/person when calculating with the estimated 8 billion future world populations. 8 trillion DCN is an equivalent to approximately 5% of the above mentioned USD 160 trillion. To summarize: the total volume of Dentacoins produced covers the minimum requirement for a currency to be recognized as global.
2. Distribution costs
Free distribution is the next condition for a currency to cover in order to be globally used. The distribution model of Dentacoin does not imply mining, thus no energy consumption is required.
Another requirement for a currency to be internationally used is for people to trust in it. Dentacoin has already been implemented as means of payment in first partner dental clinics. The first experiences gathered foresee a promising future in direction trust. Moreover, Dentacoin Foundation is about to purchase a start-up company exclusively in DCN – the first ever deal of its kind, based solely on the faith in the currency potential.
4. Democratic currency
The revolutionary concept of Dentacoins allows all coin holders to participate actively in important decision regarding the Foundation. Supporters can openly communicate with the team, participate in polls, give feedback, share ideas. This model is an epitome of a democratic currency, independent from any influences from managers, banks, states, central institutions.
5. Distribution model
Dentacoin’s distribution is anti-inflationary due to the fact that the distribution happens only through:
a) Token Sales
b) Rewards – each individual could earn Dentacoin through value-generating activities (meaning each activity which helps to improve dental care quality worldwide – giving feedback, taking dental health surveys, using Dentacare mobile app, etc.). This coin distribution model is known as a value-generating distribution.
6. Pricing and future value
As everyone could buy DCN, there is an extremely low market entry, which implies a strong potential for increase in value. The initial value of Dentacoin in the Exclusive Presale (starting July 1st, 2017) is 0.003521 USD cent/DCN. The potential for a fast global distribution and successful value multiplication for many early buyers is extremely high.
7. Real currency functions
DCN is already a functioning currency. It is implemented as a means of payment and as a part of Patient Loyalty program in first partner dental clinics in 13 countries, where patients use their previously earned Dentacoins for paying treatments or buying dental care products. Moreover, Dentacoin Foundation purchased a start-up company exclusively in DCN, even before the ICO. This unique example shows how strong is the faith of people who understood the concept of Dentacoin as a currency.
8. Value generator
Last but not least: The Dentacoin concept aims at improving dental care quality worldwide. In addition to being an industrial means of payment and a store of value, Dentacoin will have a strong impact on the industry through its value-creating tools – a trusted review platform, a dental insurance-like model, a healthcare database, a mobile app for proper dental care, a website for paid surveys on dental health topics. Thus, it will provide numerous benefits for all market participants (dentists, patients, manufacturers) while simultaneously reducing the costs. And above all – it will inevitably lead to improved dental and overall health.
Also published on Medium.