3 interesting ways blockchain technology is impacting dentistry
Blockchain technology is a digital ledger for recording and verifying transactions. Various industries use this technology for applications such as paying freelance work or property ownership. The dentist has also shown interest in this internet-based protocol and its ability to create transparency between clients and providers of dental care services.
This technology is a touchy subject in the dental industry, with some professionals advocating it and others wary of its negative effects on their practice if not used properly. Here are three interesting ways blockchain technology is impacting dentistry.
1) Secure and transparent electronic health record
A significant effect of blockchain technology on dentistry are secure and transparent electronic health records (EPJ). With blockchain technology, patient information is held on a decentralized platform, meaning that anyone from anywhere with authorization can access a person’s dental information.
Because of the ease of access, patients will have greater control over their dental care and dental records. However, the databases are centralized. Therefore, it is very safe and reliable. With this technology, dental records cannot be manipulated by third parties.
2) Streamlined payment systems
Another impact of blockchain technology on dentistry is streamlined payment systems. Today’s payment systems in the dental industry often need to be faster, more efficient and less prone to errors. By leveraging blockchain technology, dental practices can streamline payment systems, reduce costs and eliminate errors. Blockchain-based payment systems enable fast and secure transactions, eliminating the need for intermediaries such as banks or payment processors.
The dental industry can also use blockchain technology to revolutionize their payment systems using a targeted cryptocurrency. Dentacoin (DCN) is a blockchain-based platform and cryptocurrency that specifically addresses the needs of patients and dentists. The currency focuses on creating and developing dental care environments worldwide, eliminating intermediaries such as insurance companies and other third parties. Through its initial currency, Dentacoin aims to improve dental care services through collective power.
3) Improved supply chain management
Blockchain technology also has the potential to improve supply chain management in dentistry. Dental practices depend on various suppliers to provide them with equipment, supplies and other resources. Suppliers can track their products from the production stage to the point of sale using blockchain technology. It allows dental practices to verify the authenticity and quality of their supplies, reducing the risk of counterfeit products entering the market. It also allows for secure payment methods and immediate delivery.
Aside from these, blockchain technology can also allow dental practices to reduce costs by cross-selling services to potential clients once they have been screened or had their history reviewed by the dentist.
Like any other technology, blockchain technology is vulnerable to hacks and data theft. It can be used in ways that violate a person’s privacy and is vulnerable to malicious attacks. Dentists using this technology must ensure they are aware of the potential risks before using it.
But because blockchain technology has no single government or entity behind it, it promotes transparency and security. It replaces state-issued currency, which requires extensive coordination between multiple institutions and parties.
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