#20: How Web3 empowers Decentralised Science and reimagines how science is conducted
Its goals align closely with Web3's ethos: decentralization, transparency, and community ownership.
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Welcome to another edition of 'Web3What? by Joachim'! This week we are doing another industry-specific deep-dive like we did in #3 (Financial Services), but this time it’s on life science, or more specifically, decentralised science (DeSci) 💡
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As the article below deals with digital assets, please note that this is not financial nor legal advice and for educational purposes only.
The Rise of Decentralized Science (DeSci): Reimagining Innovation with Web3
The scientific enterprise, for centuries, has driven societal progress, yet its current structure faces significant bottlenecks: lack of transparency, gatekeeping by traditional institutions, and inadequate funding mechanisms. Enter Decentralized Science (DeSci)—a paradigm shift enabled by Web3 technologies that seeks to democratize and modernize the way science is conducted, funded, and shared.
This article explores the fundamentals of DeSci, its potential to disrupt traditional systems, and how blockchain, DAOs, and tokenomics could lay the groundwork for a more equitable and efficient scientific ecosystem.
1. The Challenges of Traditional Science
Before diving into the DeSci movement, it's essential to understand the pain points of the current scientific landscape:
a. Centralized Gatekeeping
Publishing in peer-reviewed journals remains the gold standard of scientific validation. However, these journals are controlled by a handful of publishers, with exorbitant fees for access. Paywalls hinder global knowledge-sharing, disproportionately affecting researchers in underfunded regions.
b. Inefficient Funding Models
Traditional funding sources, such as government grants, often prioritize conservative, incremental projects over innovative, high-risk ideas. This approach stifles breakthroughs, leaving transformative ideas unfunded.
c. Reproducibility and Transparency Issues
A significant proportion of published studies are irreproducible, calling into question the integrity of results. The lack of transparent data-sharing and open peer-review exacerbates this issue.
d. Ownership and Intellectual Property (IP) Constraints
Researchers frequently lose control over their work, with universities or journals claiming ownership. This disempowers scientists and stymies innovation.
2. What is Decentralized Science?
DeSci is an emerging movement that uses blockchain and other decentralized technologies to reimagine how science is conducted. Its goals align closely with Web3's ethos: decentralization, transparency, and community ownership.
Key Pillars of DeSci
Open Access: Making scientific data, publications, and methodologies freely accessible to all.
Transparent Validation: Using decentralized ledgers for peer review, data verification, and reproducibility.
Equitable Funding: Empowering communities to directly fund scientific research through mechanisms like tokenized crowdfunding.
Ownership and Incentives: Leveraging smart contracts to give researchers control over their IP while ensuring fair compensation.
3. How Web3 Technologies Power DeSci
a. Blockchain for Provenance and Transparency
Blockchain's immutable ledger ensures that every step of the scientific process—data collection, analysis, and publishing—can be timestamped and verified. This reduces fraud, promotes reproducibility, and builds trust.
Example: A researcher uploads raw experimental data to a decentralized storage solution (e.g., IPFS). The blockchain logs a timestamped hash, proving that the data hasn’t been tampered with.
b. Tokenomics for Funding
Cryptocurrencies and tokenized models create novel funding pathways. By issuing governance or utility tokens, researchers can attract micro-investments from a global community. Contributors, in turn, gain a stake in the success of the research.
Example: A DeSci DAO issues tokens to back research into a promising vaccine. Investors who hold the tokens might receive a share of the intellectual property’s eventual royalties or influence the direction of the research.
c. DAOs for Collaborative Governance
Decentralized Autonomous Organizations (DAOs) provide a governance model for scientific communities. These digital cooperatives enable researchers, funders, and enthusiasts to collaboratively decide on funding priorities, research goals, and resource allocation.
Example: VitaDAO, a prominent DeSci DAO, funds longevity research. Token holders vote on projects, ensuring a democratic approach to advancing the science of aging.
d. NFTs for IP and Ownership
Non-fungible tokens (NFTs) can represent ownership of research outputs, including datasets, methodologies, and discoveries. Unlike traditional IP systems, NFTs allow for fractional ownership, enabling communities to collectively own and benefit from breakthroughs.
Example: A researcher mints an NFT representing a groundbreaking algorithm. Backers of the NFT share in the profits when the algorithm is licensed or commercialized.
e. Decentralized Storage for Open Science
Platforms like IPFS and Arweave offer decentralized storage solutions, ensuring scientific data remains accessible and censorship-resistant. Unlike centralized databases, these systems distribute data across nodes, preventing single points of failure.
4. Real-World Examples of DeSci in Action
a. VitaDAO
Focused on funding longevity research, VitaDAO has already allocated millions to promising projects. The DAO’s tokenomics model incentivizes both financial and intellectual contributions, enabling cutting-edge research that might not secure traditional funding.
b. Molecule
Molecule connects researchers, biotech companies, and funders through a decentralized IP marketplace. By tokenizing research rights, Molecule enables early-stage funding for projects that traditional venture capitalists might overlook.
c. LabDAO
LabDAO is building decentralized infrastructure for scientific research, including tools for collaboration and data-sharing. By leveraging Web3, LabDAO aims to make cutting-edge research accessible to independent scientists worldwide.
d. SCINET
SCINET is developing a decentralized reputation system for scientists. By tracking contributions and achievements on-chain, it creates a trustless environment for validating expertise.
5. Why DeSci Matters
DeSci isn’t just a technological innovation; it represents a philosophical shift in how we approach knowledge creation and dissemination. Here’s why it matters:
a. Democratizing Access
By removing paywalls and gatekeeping, DeSci empowers scientists and enthusiasts from underserved regions to participate in global research.
b. Accelerating Innovation
Crowdsourced funding and decentralized validation reduce bureaucracy, allowing groundbreaking ideas to gain traction faster.
c. Rewarding Scientists
DeSci enables direct compensation for researchers through tokenomics, addressing the chronic underpayment and undervaluation of scientific labor.
d. Creating Trust
Blockchain’s transparency reduces fraud and fosters public trust in science—a critical need in an era of misinformation.
6. Challenges and Critiques of DeSci
While promising, DeSci faces hurdles:
a. Scalability
Decentralized platforms often struggle with scalability, both in terms of technology (e.g., transaction speeds) and adoption.
b. Legal and Ethical Questions
Tokenizing IP and scientific outputs raises questions about ownership, royalties, and regulatory compliance.
c. Resistance from Traditional Institutions
Academic institutions and journals may resist DeSci initiatives, viewing them as disruptive to established norms.
d. Onboarding and Education
Convincing scientists to adopt blockchain tools requires significant outreach and user-friendly platforms.
7. The Road Ahead for DeSci
a. Bridging Web2 and Web3
To drive adoption, DeSci projects must integrate seamlessly with existing tools and platforms, providing a bridge between traditional and decentralized systems.
b. Incentivizing Collaboration
Tokenomics should prioritize collaboration over competition, fostering an ecosystem where shared knowledge is rewarded.
c. Strengthening Community
Building strong communities around DeSci DAOs is crucial. Governance models must balance inclusivity with efficiency to avoid decision-making bottlenecks.
d. Regulatory Clarity
Proactive engagement with regulators will help DeSci projects navigate legal complexities, ensuring compliance without stifling innovation.
Conclusion
Decentralized Science represents a transformative vision for the future of knowledge creation. By leveraging Web3 technologies, DeSci dismantles barriers to access, redefines funding mechanisms, and reclaims ownership for scientists. While challenges remain, the movement’s momentum is undeniable, promising a world where scientific discovery is open, transparent, and driven by a global community.
As the DeSci ecosystem evolves, it will undoubtedly face resistance and growing pains. Yet, for those invested in Web3’s core ideals, it’s an opportunity to not just disrupt science but to redefine its purpose: advancing knowledge for the collective benefit of humanity.
Thank you for joining me in this weeks issue of "Web3What? by Joachim", enjoy your week and you'll soon hear about more Web3 takes from me again.
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This newsletter is provided for informational purposes only. It does not offer or is intended to offer legal, tax, investment, financial, or other advice. Please do your own research and consult with your own legal, tax, investment, or financial advisors before engaging in any transaction. I may own some of the tokens mentioned in this newsletter. Some of the links in this newsletter may be affiliate or referral links.