A common criticism of Web3 is that it is solving a non-existent problem. It’s easy to see why people think that way, especially when celebrities are launching meme coins and leaving their fans with worthless tokens. But what if Web3 is actually on the brink of revolutionizing the way we create real-world value? Welcome to Decentralized Science (DeSci).
DeSci is using blockchain technology to create a fair and equitable infrastructure for scientific research. By leveraging Web3 tools like tokens, NFTs, and DAOs, DeSci aims to improve the processes of funding, creating, reviewing, crediting, storing, and disseminating scientific knowledge. This movement encourages community-driven collaboration in the scientific field, empowering researchers to work together towards common goals.
But why do we need DeSci when we already have the traditional scientific method? Well, traditional science is facing challenges with publishing, reproducibility, funding, IP, and data storage. Publishers charge high fees for access to research that is funded by taxpayers. Reproducibility and replicability are essential for quality research, and Web3 tools can ensure these principles are embedded in scientific work. The traditional funding model for scientific research is inefficient and biased, leading to delays and competition. Web3 introduces new funding models that promote fair distribution of resources. Intellectual property often gets stuck in universities, but Web3 offers solutions through NFTs that reward researchers and governing bodies. Decentralized storage solutions like IPFS and Arweave enhance the accessibility and storage of scientific data.
Imagine a future where breakthrough medications are funded through a transparent, decentralized process. This would democratize critical research funding and ensure fair rewards for all contributors. DeSci has the potential to revolutionize scientific research by making it more inclusive, efficient, and innovative. This could lead to groundbreaking advancements that benefit society as a whole.
It’s time to shift the focus from decentralized exchanges and DeFi protocols to groundbreaking scientific research. Let’s support the smartest minds in solving the world’s toughest problems instead of chasing after the next tokenomics scheme. By investing in valuable projects like DeSci, we can create both societal and monetary value simultaneously, changing the perception of Web3 and its potential impact on the world.