It is easy to successfully establish a new currency in the 21st century market. Let’s have a look at the main requirements and how Dentacoin meets them.
1. A clearly defined target group of currency users must be existing in the market.
Two billion dental patients are a clearly identifiable target group which can be reached globally. In order to benefit from Dentacoin’s advantages, patients will cause their dentists to use DCN.
2. Multipliers have to communicate with the target group and to accept the currency as a payment method.
200 000 dentists will accept the DCN as an instrument of payment and thereby form a growing community with their patients. This triggers a leverage effect. Dentists and patients push each other to an increasing use of the DCN.
3. The currency has to be forgery-protected, both technically and legally. A cheap, easy and global use of it must be present.
On the proven basis of the Ethereum Blockchain and its smart contract functionality, Dentacoin is not subject to forgery. Moreover, there is a strong chance for Dentacoin to become a global currency – easily applicable in the industry and with low distribution costs (8 reasons why Dentacoin could be a global currency).
4. The currency distribution must be designed in such a technical manner that it provides protection against inflation.
The increased demand of the currency leads to two effects. The first effect is the disproportional distribution of Dentacoins. The second effect is the anti-inflationary effect, created by the use of a smart contract limiting the total supply of DCNs ever issued. This state-of-the-art “mining” concept leads to ongoing appreciation and thus to an increasing importance in the currency market.
The global economy is craving for new, stable, inflation-protected currencies with a strong chance to increase in value.
Also published on Medium.