Narratives in the crypto world often come and go, with few making a lasting and meaningful impact on wider society as a whole. Certain verticals like meme coins might even be considered a net negative for society at large because of their lack of utility. However, we shouldn’t forget that blockchain technology is still an important innovation and it enables the development of other technologies that can significantly improve our existing way of life. One such potential breakthrough is in the application of blockchain to the realm of science.
Decentralized science (DeSci) is a new approach to scientific research that leverages blockchain-powered decentralization to transform traditional scientific practices (TradSci). Instead of depending on centralized institutions and intermediaries, DeSci improves upon methods for creating and sharing knowledge. DeSci's primary goals include expanding access to scientific data, fostering transparent peer review processes, and encouraging global collaboration among researchers. Through the blockchain, DeSci ensures the integrity and permanence of scientific records while reducing entry barriers.
The DeSci Solution to a TradSci Problem
In traditional science, the "valley of death" is a commonly used metaphor that describes the challenging disconnect between fundamental scientific research and the successful development and application of that research into innovations that benefit patients. Overcoming this "valley of death" requires a fresh, more efficient approach. Traditional science is burdened by a lengthy and complex funding process, often plagued by administrative hurdles and regulations from various agencies that are overdue for reform. In academia, researchers must create detailed grant proposals in order to receive funding so innovative “out-of-the-box” proposals might never get funded in the first place. There is also a misalignment in incentives, as scientists are not adequately rewarded for pursuing groundbreaking ideas and not sufficiently punished for replicating others' ideas.
Blockchain technology can fill the gap to bypass the “valley of death.” DeSci seeks to revolutionize key fundamentals in scientific development such as ensuring data provenance and promoting sovereignty over scientific information, as well as transforming the research and publishing process. Decentralized networks also empower borderless, immutable funding through cryptocurrency as Web3 already sees many DeFi platforms. Specializing DeFi toward science can enable new ways of crowdfunding for scientists.
DeSci Use Cases
- Data Sharing and Collaboration - DeSci platforms can enable secure and transparent sharing of research data and resources among scientists. After all, all the relevant information is recorded and transferred on a distributed, immutable ledger. This approach allows researchers to tokenize and monetize their data while retaining ownership rights, thereby aligning incentives for greater risk-taking by scientists.
- Peer Review - Reputation systems built on blockchain networks can enhance the credibility and reliability of scientific publications because they are tamper-proof. Decentralized science can use blockchain technology to create unchangeable records of researchers' contributions and peer review activities, promoting transparency and accountability in scholarly communication.
- Research Funding - Through decentralized funding models powered by smart contracts, the allocation of research funds can become more transparent. Decentralized science can harness blockchain networks to crowdfund research initiatives and reward contributors based on the quality of their work.
- Tokenized Funding - NFTs can be minted to represent ownership of intellectual property. They serve not only as a representation of intellectual property ownership but also as a tool for project fundraising. Scientists can sell their IP-NFTs to investors, who, in turn, benefit from the revenues generated by said intellectual property. This approach helps bridge the "valley of death" by introducing liquidity to early-stage development of newer research developments.
- Academic Publishing - Certain DeSci platforms offer decentralized repositories for academic works. Researchers can publish their findings directly on these platforms, allowing for wider dissemination of scientific knowledge. Such publications are also protected from the politics and red tape hindering aspects of traditional academia.
Examples of Decentralized Science Projects
The field of DeSci might not be the most prominent or exciting relative to other crypto narratives currently, but there are already many protocols that continue to push it to new heights.
Genomes IO is a decentralized autonomous organization founded on the principle that individuals should have ownership over their genomes. Its mission is to create the world’s largest user-owned, decentralized genomics database and make it accessible to the public, organizations, and researchers. Genomic data is securely stored in the user’s personal DNA Vault, managed through the Genomes mobile app. Researchers, ranging from pharmaceutical and biotech companies to academic institutions, can query the database to study disease causes and develop new treatments, all while data privacy and ownership is preserved.
Another leading DeSci project is VitaDAO. It’s the first collective dedicated to funding early-stage longevity research with the goal of extending human health and lifespan. Primary operations focus on gathering resources to support research projects and launching startups to commercialize their findings. A key trend in the biotech world is the democratization of access to emerging therapeutics and VitaDAO seeks to decentralize such assets to make them accessible to people worldwide.
Lastly, ValleyDAO is a community of scientists, entrepreneurs, and enthusiasts dedicated to spreading the mission of synthetic biology, which aims to alleviate global sustainability challenges. Synthetic biology involves engineering new biological systems and modifying existing ones to address critical issues such as climate change, disease, food security, and energy production. Examples include creating sustainable energy sources, developing bacteria that can clean up pollution, and growing more nutritious crops.
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