ECO SYSTEM

Smart contract use case for the Dental Medical Industry

With the deployment of our own native currency we make it possible to provide pre-coded smart contracts with certain degrees of customization, for example different types of renting agreements. Furthermore, our collaboration with IDI provides the possibility of creating smart contracts in a relatively more technical and cost efficient way. Therefore, it enables Implacoin to automate the smart contracts precisely as we envision it for the users of our platform. The introduction of a smart contract solution would highly improve the efficiency of this process as nearly all the steps are suitable for implementation through smart contracts.

If a Sbt-Ethereum smart contract solution is deployed between the patient and dental practitioner, the smart contract will behave logically based on its algorithm and will guarantee that all the agreed terms and conditions are fulfilled. An example of a smart contract application for scheduling consultation and purchasing dental services process will be presented below. 

Traditional contracts

Multiple international payments (up to 2 working days).

Smart contracts

Instant payment on the blockchain with IDI.

Confidential documents not secured (e.g. e-mail sharing).

Confidential documents encrypted on mobile app.

No transparency on transactions and parties involved.

Full transparency on transactions and (smart) contract details.

Outdated contract settlements (e.g. copying, scanning).

Public & instant verification of contract settlement.

Implacoin uses BSC

Implacoin is based on Binance Smart Chain (BSC), which means it can be integrated with other solutions. As a result, patients can receive an e-invoice and pay it right away using Mastercard or Visa, Bank wire transfer, Paypal or the cryptocurrency Implacoin. It is also possible for the caregiver to set up terms of payments: advance, post-pay or division by several installments. Unlike Ethereum which has high gas fees, with BSC there are no additional fees and almost instant settlement in the case of international transactions.

Implacoin uses sbt-ethereum

SBT Stands for Soul bound Token and it is a kind of NFT. SBT’s can be received but not transferred.We will use them in our contracts to ensure there is no Identity theft. 

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