The blockchain was immediately adopted by the economy to address its issues. As we can see, the experiment was quite successful because decentralized finance (DeFi) is currently seeing rapid growth. Scientists wondered if the blockchain could assist in their field after seeing this advancement. What function will smart contracts and tokens play in the future Web3 space and how will scientific research be performed there? Let's investigate!
What is DeSci?
Blockchain technology have already had a significant impact on the financial and creative worlds during their existence (NFT). The discipline of science was on the verge of progress in the spring of 2022.
Decentralized science (DeSci) is a recent movement based on justice, equity, and openness in the Web3 research environment. The primary distinction between decentralized science and traditional science is that with DeSci, anyone can participate in the research and share it with others.
Despite the fact that this idea is still in its infancy, it is somewhat absurd. DeSci already has a number of objectives:
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 intermediaries like publishing houses;
to liberate science from the control of state institutions.
How do DeSci platforms work?
DeSci platforms aim to develop their own ecosystem in which to solve challenging scientific issues. This ecosystem ought to bring together researchers, scientists, and financiers. This idea holds that all choices should be reached through a collective vote. Decentralized autonomous organizations, or DAOs, are in charge of managing decentralized scientific platforms.
Why does science need blockchain?
One of the most dependent and governed spheres is that of science and fundamental research. You can frequently hear that scientists have offered a novel idea but are unable to put it into practice because of a lack of money. Additionally, specialized authorities who choose which questions are worthwhile of study and which are not restrict the independence of inquiry. All of this has an impact on the field's progress, and because of these regulations, scientists frequently lose interest in their work.
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.
Researchers and reviewers can communicate directly without middlemen thanks to blockchain and smart contracts. A scientist needs to publish as frequently as possible in specialized journals or scientific communities, which is highly expensive, in order to be recognized and permitted to continue his job. Publications will be open and available to every platform user thanks to DeSci technologies. The entire scientific community will surely be impacted by the more simpler transmission of research data.
2.NFTs will be a test of a scientist's reputation.
In the conventional scientific system, a scientist's standing is more closely correlated with the quantity of publications concerning his work than the quality of that work. DeSci suggests introducing unique NFTs that will highlight the author's publications as well as his other accomplishments, like his expertise, success as a mentor, participation in other projects, 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 funding medical research, namely biotechnology-related medical research. The platform is now being used for molecular aging research from Newcastle University and the University of Copenhagen's Longevity Molecule project, according to the initiative's scientific director Tyler Golato. The DAO in USD Coin (USDC) is providing funding for this project.
The DAO association studies aging and develops medications to improve people's health and length of life. Anyone can contribute to the project's research or finance because it is decentralized. The platform's assets are displayed as IP-NFT and other tokens.
This website focuses on raising money for studies rather than conducting research. Members of the Antidote DAO raise money to create a powerful cancer treatment. Members of the group are in favor of all research, even that aimed at finding new treatments for fatal diseases.
Conclusion
As was already noted, the field of decentralized science is still in its early stages of development. The majority of the initiatives are still in the planning stages. However, DeSci activists have already put forth a tremendous amount of effort and gathered a large number of competent researchers and financiers who are prepared to support their ideas. DeSci is expected to have a bright future, and we can track its development.
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