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Decentralized Science, or DeSci, is the newest Web3 movement aiming to boost modern science. Although it is still in its initial stage, the movement intends to use Web3 resources to revolutionize scientific research, publication, and funding. In this blog, we’ll go through the basic introduction of DeSci and its relationship with Web3 tools.
Introduction to DeSci
DeSci, in general terms
In simple words, Decentralized Science, or DeSci, is a significant Web3 movement that seeks to decentralize science. DeSci strives to address substantial scientific research and publication problems by leveraging Web3 tools like DAOs, smart contracts, and blockchains.
DeSci concentrates primarily on two significant movements. First is the actions taken by the scientific community to enhance the process of research funding and encourage sharing of knowledge and information freely. The second emphasizes the crypto movement to regain ownership from centralized organizations and profit-driven middlemen.
DeSci, in broad terms
Decentralized Science (DeSci) is one of the latest Web3 movements that have the potential to bring a massive revolution in the field of scientific research. It seeks to use technological applications like Web3 and blockchain to solve scientific research problems. These problems include the difficulty in finding accurate research findings and other related things during the scientific and research processes.
The scientific and research industry can see a massive shift once the global science community fully accepts the DeSci. Knowledge will no longer be an issue and will be accessible to everyone. DeSci strives to bring everyone into the middle ground, improve collaboration between the global science community, and remove intermediaries (like publisher conglomerates) who take unwanted advantages from people.
You won’t believe that many scientists invest almost 50% of their time in writing research proposals and struggle to get the proper funding for their work. The chances of being successful are also not guaranteed.
Limitation to easy access to scientific findings and information has always been the pain point that has been affecting the scientific community today. Even though “science” is hailed as a life-saver, individuals require authorization to access its data. Therefore, the top priority of DeSci’s mission is ensuring everyone has access to the scientific data whenever and wherever they need it.
How will DeSci and Web3 work together?
- Smart contracts
The peer-review procedure is a crucial part of the scientific method, yet there are multiple hurdles. The academic publishing sector usually serves as a middleman that brings together scientists willing to perform peer reviews for free with those in need while making large profits.
Making use of smart contracts can help regulate a peer-review negotiation – without the interference of the need of a third party.
- Incentivized communities
To encourage scientific communities to exchange, review, and curate various forms of information into resources like “smart manuscripts” (which connect open-source data and protocols) and article collections, tokens or NFTs can play a significant role. This might open new avenues for rapid publication, review, and knowledge-sharing.
- Fight censorship
Blockchain’s feature, permaweb, allows users to save data and information for all time and make it available from everywhere at any time and can be used to prevent scientific censorship.
- Verifiable reputation
Today, a scientist’s “authority” and potential to get funding are based on the number of publications they have done.
Using DeSci, scientists can earn NFTs by performing some value functions for their research. For example, they can engage in peer reviews, mentor emerging experts in the area, and freely exchange data.
The NFTs can be used as verifiable evidence to showcase the significant contributions made by scientists in the field of science.
Open Science has been criticized for the possibility of allowing one huge commercial platform to own science someday. In a DeSci ecosystem, different facets of science, like peer review and reputation systems, could be controlled by distinct, specialized communities.
This would reduce the possibility of single platform dominance and assist future-proof research against quickly evolving technology and new threats.
Decentralized Science (DeSci) is a comparatively very “young” concept experimenting with cutting-edge technological tools to transform science. However, for DeSci to be successful, scientists must widely adopt its tools in their daily tasks.
The main goal of DeSci should be to provide scientists with all the equipment they require to be productive and successful in their field of work. Everything else comes secondary.Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.