Web 3.0 is Coming to Dental

Whether you think cryptocurrency is brilliant or a scam, you probably don’t think it has much to do with dental. 

But that’s starting to change. DSOs and dental entrepreneurs are already exploring how crypto (and the rest of what’s called Web 3.0 technology) can help dental groups raise money and operate more effectively.

Here’s one idea we think shows promise: the DAO DSO.

A DAO (or decentralized autonomous organization) is an online community built on blockchain technology that gives members the ability to vote on all community decisions. No one person controls a DAO — the members run it collectively from the bottom up rather than the top down.

Here’s where the DSO part comes in. Many practice owners understand that the dental industry is trending towards more and more consolidation. But they don’t want to get swallowed up by corporate dental and find themselves at the mercy of executives who’ve never placed a crown, either.

By governing a DSO through a DAO, each practice owner who joins the DSO would get to vote on every major decision. Choices would be based on community consensus rather than dictated by any one leader. And because of the nature of blockchain technology, that consensus has the force of a binding contract.

Doesn’t take a great deal of imagination to see how this could appeal to practice owners wary of giving up autonomy.

Now, the DAO DSO concept is still just that — a concept. But startups like Dr. Neil Patel’s Tao Health are already exploring how to put it into practice.

We’re genuinely curious to see what happens next.

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