Blockchain technologies were instantly “captured” by the financial sector from the very beginning. The economy quickly shifted to the blockchain in order to solve its problems. As we can see, the experiment turned out to be quite successful: today the world of decentralized finance (DeFi) is actively developing. Looking at this progress, scientists wondered if the blockchain could also help in their field. How will scientific research be conducted in the new Web3 space and what role will smart contracts and tokens play in all this? Let’s find out!
What is DeSci?
During their existence, blockchain technologies have already managed to transform two worlds: financial and the art one (NFT). In the spring of 2022, developments approached the field of science.
Decentralized science (DeSci) is a new movement in the research environment in the Web3 space based on the principles of fairness, equity and transparency. The main difference between decentralized science and classical science is that in DeSci the research is open, anyone can contribute to it and share it with others.
Despite the fact that this concept is still very young, it is pretty abmitious. DeSci has already set several goals:
- to unite all scientists into one decentralized community to simplify cooperation;
- to provide free access to all scientific knowledge by moving data from closed centralized servers to the blockchain;
- to use cryptocurrency for financing;
- to reject of intermediaries like publishing houses;
- to liberate science from the control of state institutions.
How do DeSci platforms work?
DeSci platforms strive to create their own ecosystem, within which the complex scientific problems would be solved. This ecosystem should bring together scientists, researchers and investors. According to this concept, all decisions should be made together by a common vote. Decentralized scientific platforms are managed by DAO – decentralized autonomous organizations.
Why does science need blockchain?
The world of science and fundamental research is one of the most dependent and state-controlled spaces. You may often hear that scientists have proposed a new development, but cannot implement it due to lack of funding. Also, the freedom of research is limited by special regulators, who decide which question is worth studying and which is not. All this influences the development of the entire field, and scientists often lose the desire to work because of such rules.
DeSci's main goal is to make science more independent. For example, here are some promising suggestions:
1. DeFi tools can help with research funding issues. Options such as crowdfunding, staking research tokens, selling utility NFTs are being considered.
Blockchain and smart contracts can remove intermediaries between researchers and reviewers. In order to be noticed and allowed to continue his work, a scientist needs to publish as often as possible in theme journals or scientific communities, and this is quite expensive. DeSci technologies will make publications open and accessible to every member of the platform. The exchange of research data will be much easier and it will undoubtedly affect the entire scientific community.
2.NFTs will be a test of a scientist's reputation.
In the traditional scientific system, the reputation of a scientist depends not so much on the quality of his research, but on the number of publications about it. DeSci proposes to introduce special NFTs, which will include not only the author's publications, but also his other achievements, such as success in teaching, mentoring, expertise, participation in other studies, etc.
Where is DeSci used today?
By 2023, several online platforms are using DeSci technologies. Here are some of them:
This is a platform for raising funds for medical research, in particular, for research in the field of biotechnology. The project's scientific leader Tyler Golato notes that Newcastle University research on molecular aging and the University of Copenhagen Longevity Molecule project are now being conducted on the platform. Funding for this work is provided by the DAO in USD Coin (USDC).
DAO-association, which is engaged in the study of longevity and the development of drugs to prolong human life and health. The project is decentralized – anyone can help in research or funding. Assets on the platform are presented in the form of IP-NFT and other tokens.
This platform is not engaged in research, but in creating fundings for studies. Antidote DAO members raise funds to develop an effective cancer drug. Members of the organization support any research, if it’s trying to develop new methods to cure a deadly disease.
Conclusion
As already mentioned, the space of decentralized science appeared quite recently and has not yet fully developed. Most of the projects and ideas are still in the planning stage. But DeSci activists have already done huge work and brought together a lot of talented researchers and investors who are ready to fund their projects. Experts predict a great future for DeSci, and we can follow its progress.
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