Each and every day I spend a few hours of my time poring through information regarding cryptocurrencies searching for new opportunities as well as when to take profits or cut my losses on previous purchases.
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This morning whilst reading my notes made from last night’s session I had a brainwave! Why not make this a weekly feature for Steem where I assess ### newly listed or ICO’ed assets and / or currencies ###. This will definitely add value to the crypto community and should also stimulate healthy debate.
The format will identify the coin with some salient information about the coin and the team. It will NOT be investment advice and if I have taken a position in a coin I will state so.
A sample below (researched today) is how I intend to present the information but this could metamorphize over time.
Dentacoin (DCN)
DENTACOIN (DCN)
Summary: An Ethereum based token which is used as a payment system in the dental industry worldwide (I am assuming that ‘worldwide’ is the end goal).
The team do appear to be very dedicated and have been working since 2014 on the concept with 120 participants from around the world. The initial tokens were distributed to participants in June 2017 at 8 000 000 DCN per Ethereum and their are over 1800 Token holder addresses.
The token is active with 3653 transactions having taken place to date (at time of writing)
In the past week there has been some development commits on Github but no apparent releases. I do confess to not being technically savvy enough to verify the commits
Social Media: Active on Twitter, Facebook, Steemit(
Asset / Currency - Asset
Mineable - No
In Circulation - 16 200 000 000
Total Supply - 8 000 000 000 000
Development Team - Recently Active on Github after long inactive period
Pre-mined - Created
Slack - https://dentacoin.slack.com/ ('This invite link is no longer active' was the response)
Github - https://github.com/Dentacoin
Bitcointalk.org - Active
Exchanges - Cryptopia
BTC Satoshi Value - 0.00000006
Conclusion:
What can I say about this token? The idealistic business model is laudable but the execution is what bothers me. For this to be successful they would need to get buy in across many disciplines such as, dentists, insurers, hospitals, medical aids and patients. Being medical the chances of legislation across countries being obstacles that hamper or prevent implementation is a distinct possibility.
There does not appear to be a very strong development team behind the project (one contributor to Github repository) which, for me, is the backbone of a good idea. Good concepts need to be backed up by a strong development team otherwise we may well be staring at vapourware, best case numerous delays in deployments. Another challenge for me is the number of tokens
For the above reasons I will not be getting involved in DCN