Creating a Platform Based Business Model In Dental Industry

Abstract Purpose: The article considers one of the possible approaches to building a fundamentally new business model for dental industry with a concept of a self-organizing industry management system based on blockchain platform, crypto currency and reward for consumer target behavior.Design/methodology/approach: The theoretical design based on literature review, the content analysis and practical experience of business model transformation in digital platform economy and innovative blockchain technology, while the authors develop, describe and implement a new concept of a new business model in dentistry. The factual basis was the materials of an experiment conducted in the Netherlands to create a platform community Dentacoin based on blockchain platform.Findings: The developed concept of the business model in dentistry shows the main mechanisms that make the model attractive to the consumer services: obtaining objective information about services and producers; formation of a contract on the basis of independent diagnostics and its insurance; financial and logistical support of the service.Research/practical implications: The results of theoretical and practical research confirmed the possibility and expediency of the business model innovation of dental industry. The analysis of the current stage of Dentacoin Project implementation shows that business model works.Originality / significance. The proposed concept of business model based on blockchain technology is fundamentally new for the dental industry. It is the first time describe and systemize a new management mechanism of value creation together with utilizing the blockchain advantages. The creation and implementation of the first blockchain-based platform in dentistry allows achieving transformative change of a whole industry and will greatly enrich both the theory and practice of transformational phenomena.JEL Codes: 014, 033, M13