Head of venture fund and research center "Heritage"
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Head of venture fund and research center "Heritage"
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Decentralized Science (DeSci) is a Web3 area aimed at developing an infrastructure to fund, create, store, and distribute scientific work, publications, and research independently at the interface with the Web3.
DeSci is a decentralized, democratic, and very effective tool for funding scientific work. It uses tools such as DAO, quadratic and retroactive funding, as well as incentives through the tokenization of certain structures.
DeSci creates an ecosystem that provides scientists with the ability to share their research openly and receive certain resources in return, such as rewards and support. The DeSci ecosystem also makes the research process transparent, accessible, and more resistant to censorship and control by central governments and corporations.
There are some problems in the scientific world nowadays:
Most good scientists like to do science, but they do not tend to spend most of their time pitching their projects to grantmakers.
A lot of research projects are not commercially attractive, or their timelines are not agreed with the financial model. Thus, such research is not funded and not properly supported.
There are many specialists (researchers, inventors) who work in private or for closed organizations, and institutes. They face difficulties in finding supporters or investments.
The process of publishing academic papers in various journals takes a long time (from submission to publication) and can extend to up to half of a year. The duration of the review is related to a number of human factors, as well as to the priority given to publishing according to a certain topic. Moreover, such work is not paid. Moreover, authors have to pay for the publication themselves. In this case, only the publishers get the commercial benefit.
Academic censorship restricts the freedom of research and the expression of scientific ideas. It can be manifested as a ban on the dissemination of certain scientific papers and discoveries, as well as indirect pressure on scientists to limit their work in certain research areas. It can also take the form of a ban on certain viewpoints by public authorities and corporations.
And also many other issues such as bureaucracy, long decision-making processes, limited transparency, scarcity, and inappropriate allocation of resources within individual organizations, etc. It leads to many problems in terms of funding. Moreover, there are currently few traditional funding mechanisms for science in general.
Decentralized Science (DeSci) is a Web3 area aimed at developing an infrastructure to fund, create, store, and distribute scientific work, publications, and research independently at the interface with the Web3.
DeSci is a decentralized, democratic, and very effective tool for funding scientific work. It uses tools such as DAO, quadratic and retroactive funding, as well as incentives through the tokenization of certain structures.
DeSci creates an ecosystem that provides scientists with the ability to share their research openly and receive certain resources in return, such as rewards and support. The DeSci ecosystem also makes the research process transparent, accessible, and more resistant to censorship and control by central governments and corporations.
There are some problems in the scientific world nowadays:
Most good scientists like to do science, but they do not tend to spend most of their time pitching their projects to grantmakers.
A lot of research projects are not commercially attractive, or their timelines are not agreed with the financial model. Thus, such research is not funded and not properly supported.
There are many specialists (researchers, inventors) who work in private or for closed organizations, and institutes. They face difficulties in finding supporters or investments.
The process of publishing academic papers in various journals takes a long time (from submission to publication) and can extend to up to half of a year. The duration of the review is related to a number of human factors, as well as to the priority given to publishing according to a certain topic. Moreover, such work is not paid. Moreover, authors have to pay for the publication themselves. In this case, only the publishers get the commercial benefit.
Academic censorship restricts the freedom of research and the expression of scientific ideas. It can be manifested as a ban on the dissemination of certain scientific papers and discoveries, as well as indirect pressure on scientists to limit their work in certain research areas. It can also take the form of a ban on certain viewpoints by public authorities and corporations.
And also many other issues such as bureaucracy, long decision-making processes, limited transparency, scarcity, and inappropriate allocation of resources within individual organizations, etc. It leads to many problems in terms of funding. Moreover, there are currently few traditional funding mechanisms for science in general.
Issues related to intellectual property (IP). From use within universities only, or not use at all to difficulties in valuation.
Where “DeSci” was mentioned first?
DeSci was first discussed as part of the organized community "DeSci London" at the Francis Crick Institute.
After that, the topic continued to be discussed on ethereum.org!
What technologies are already available today? And how might this affect science development?
Funding mechanisms:
DAO (Decentralised Autonomous Organisation) is an organization that uses blockchain technology to manage its activities without centralized control. DAO is governed by the voting of its members, who make decisions collectively using digital assets and smart contracts. DAO can be used to manage various projects, such as blockchain protocols, crowdfunding campaigns, collective investment, and other projects where decentralized management is required.
Public goods quadratic funding is a funding mechanism that enables people to pay for as many votes as they wish. This uses a series of 'vote credits' quadratic in the votes they buy.
Retroactive public goods funding means providing funding for a period of time that has already passed before the funding was provided. For example, if an organization has received a grant for retroactive funding, this means that it would have received funding for a period of time that has already passed before the grant was awarded. This can be useful for projects that have already been implemented but have not been paid for, or to offset costs that were incurred before the funding was awarded.
Tokenized Incentive Structures are systems that use tokens (blockchain-based digital assets) to encourage participants to complete specific tasks. Tokens can be used to reward participants within the project ecosystem, for example, by rewarding them for publishing scientific papers or solving a communities' problem.
Information solutions and incentives:
New mechanisms for publishing scientific papers and opinions can be developed based on Web3 as well as transparency and universal access principles.
Ability to earn rewards in tokens and accumulate a digital reputation for peer-reviewed papers.
New principles for dealing with intellectual property (IP) based on NFTs (non-interchangeable tokens). The author will be able to create their own NFTs (IP, scientific data, articles) and distribute them according to transparent conditions. Another big advantage of NFT is the ability to pass the income from future transactions to the original authors. It enables rewarding researchers and organizations (like DAO).
IP-NFT is another promising solution, used as a key to decentralized data storage of conducted research experiments as well as connecting tools to NFT and DeFi funding (from splitting to credit pools and valuation).
Available projects today:
Today, one of DeSci's most developed companies is Molecule Ecosystem. Their headquarters office is located in Switzerland.
The Molecule ecosystem is a decentralized biotech protocol for transferring intellectual property to web3 and launching biotech DAOs. The ecosystem includes such projects as VitaDAO; PsyDAO; Research Marketplace; BioDAOs; IP-NFTS; ValleyDAO; AthenaDAO; HairDAO; CryoDAO.
Molecule develops collaborative ecosystems where stakeholders in drug development can work together to accelerate the delivery of new therapies to patients. The company connects leading researchers to funding, turning intellectual property and its development into a liquid and easily investable asset.
PsyDAO forms a decentralized organization to fund research at the interface of psychedelics and mental health.
Bioxyz connects the next generation of science with capital, talent, and resources to create DAO and DeSci biotech projects of the future.
VitaDAO funds and promotes longevity science that can improve human life. (According to their website, they have already funded over 12 projects for $3 million. Also, you can read about the funded projects on their website.)
If you are a scientist, researcher or have your own laboratory, you can choose the DAO to apply and receive funding of up to $200,000 for 1-3 years, according to your field of science.
If you are a philanthropist, you can participate in funding such projects through DAO. (But do not expect to make any profit, as the community policy is to make a profit and distribute that profit to fund other projects).
It is also important to highlight that when the company funds a certain project, it requires to re-issue copyright (IP) to the DAO. The DAO finances projects and acquires intellectual property through sponsored research agreements that are concluded with the commercialization office of the host university.
Although I haven't done a detailed FA (just looked through Coinmarketcap, read their websites, and studied tokenomics), I am not sure about their actual functioning as a DAO. Current projects are not decentralized.
More than 70% of the tokens are managed by one party; all funding and management decisions are in fact made only by the core project team. In my opinion, this is a quite classic company with a centralized decision-making system. But despite this, they are worth observing and analyzing. While I was studying their ecosystem I was inspired and got a lot of new ideas. Thank you for being there, you are doing an amazing job.
DeSci Labs
The second interesting project is DeSci Labs. I think this is one of the Ethereum Labs divisions.
DeSci Labs establish tools for open science development. The platform publishes and integrates their research, software codes, various data sets, videos, and more into dynamic, interoperable research objects. You too can contribute to reproducible, open, and equitable science.
Also important to highlight the DeSci Foundation. The DeSci Foundation is an independent organization of leading scientists and innovators. They are committed to exploring the potential of applying new technologies, incentives, processes, and funding models to the scientific ecosystem. The DeSci Foundation aims to make science more robust, transparent, independent, and open. They also aim to change the culture in the scientific ecosystem.
These are 6 additional projects that I found interesting and meaningful in the nascent direction of DeSci.
DeSciWorld is a universal platform that helps users view, interact and understand all that is happening in the world of decentralised science.
UltraRare Bio is a web3 community at the intersection of science and art. A podcast platform.
Decentralised Science (DeSci) London explores decentralised science. It is a growing web3 movement in London. They hold various conferences, workshops, and networking events. The main aim is to create a hub where DeSci builders can exchange ideas, get information from researchers and get funding from investors. To be a catalyst for the whole DeSci community.
Gitcoin is a set of tools to enhance community-led funding opportunities and robust digital experiences.
Hypercerts is a new funding and incentive protocol. Each hypersert is a public claim to discrete work and the impact that results from that work. Projects can create hyperserts and distribute them to participants. Sponsors can own the hyperserts and the rights that come with them. Evaluators can create value for projects and sponsors by rating the quality of the hyperserts and offering ratings. Hyperserts create interoperability by acting as a single, open, shared, decentralised database for impact applications and funding mechanisms.
Ocean Shipyard is an early-stage grant program created to fund the next generation of Web3 dApps built on the Ocean Protocol. It is designed for entrepreneurs who want to build Web3 open-source solutions on the ocean, provide valuable data, innovate, and create value for the ocean ecosystem.
To write this article, I have reviewed more than 100 DeSci projects (many of them are at MVP or even the idea stage). This field certainly deserves attention from investors, crypto-enthusiasts, and representatives of the scientific world.
Issues related to intellectual property (IP). From use within universities only, or not use at all to difficulties in valuation.
Where “DeSci” was mentioned first?
DeSci was first discussed as part of the organized community "DeSci London" at the Francis Crick Institute.
After that, the topic continued to be discussed on ethereum.org!
What technologies are already available today? And how might this affect science development?
Funding mechanisms:
DAO (Decentralised Autonomous Organisation) is an organization that uses blockchain technology to manage its activities without centralized control. DAO is governed by the voting of its members, who make decisions collectively using digital assets and smart contracts. DAO can be used to manage various projects, such as blockchain protocols, crowdfunding campaigns, collective investment, and other projects where decentralized management is required.
Public goods quadratic funding is a funding mechanism that enables people to pay for as many votes as they wish. This uses a series of 'vote credits' quadratic in the votes they buy.
Retroactive public goods funding means providing funding for a period of time that has already passed before the funding was provided. For example, if an organization has received a grant for retroactive funding, this means that it would have received funding for a period of time that has already passed before the grant was awarded. This can be useful for projects that have already been implemented but have not been paid for, or to offset costs that were incurred before the funding was awarded.
Tokenized Incentive Structures are systems that use tokens (blockchain-based digital assets) to encourage participants to complete specific tasks. Tokens can be used to reward participants within the project ecosystem, for example, by rewarding them for publishing scientific papers or solving a communities' problem.
Information solutions and incentives:
New mechanisms for publishing scientific papers and opinions can be developed based on Web3 as well as transparency and universal access principles.
Ability to earn rewards in tokens and accumulate a digital reputation for peer-reviewed papers.
New principles for dealing with intellectual property (IP) based on NFTs (non-interchangeable tokens). The author will be able to create their own NFTs (IP, scientific data, articles) and distribute them according to transparent conditions. Another big advantage of NFT is the ability to pass the income from future transactions to the original authors. It enables rewarding researchers and organizations (like DAO).
IP-NFT is another promising solution, used as a key to decentralized data storage of conducted research experiments as well as connecting tools to NFT and DeFi funding (from splitting to credit pools and valuation).
Available projects today:
Today, one of DeSci's most developed companies is Molecule Ecosystem. Their headquarters office is located in Switzerland.
The Molecule ecosystem is a decentralized biotech protocol for transferring intellectual property to web3 and launching biotech DAOs. The ecosystem includes such projects as VitaDAO; PsyDAO; Research Marketplace; BioDAOs; IP-NFTS; ValleyDAO; AthenaDAO; HairDAO; CryoDAO.
Molecule develops collaborative ecosystems where stakeholders in drug development can work together to accelerate the delivery of new therapies to patients. The company connects leading researchers to funding, turning intellectual property and its development into a liquid and easily investable asset.
PsyDAO forms a decentralized organization to fund research at the interface of psychedelics and mental health.
Bioxyz connects the next generation of science with capital, talent, and resources to create DAO and DeSci biotech projects of the future.
VitaDAO funds and promotes longevity science that can improve human life. (According to their website, they have already funded over 12 projects for $3 million. Also, you can read about the funded projects on their website.)
If you are a scientist, researcher or have your own laboratory, you can choose the DAO to apply and receive funding of up to $200,000 for 1-3 years, according to your field of science.
If you are a philanthropist, you can participate in funding such projects through DAO. (But do not expect to make any profit, as the community policy is to make a profit and distribute that profit to fund other projects).
It is also important to highlight that when the company funds a certain project, it requires to re-issue copyright (IP) to the DAO. The DAO finances projects and acquires intellectual property through sponsored research agreements that are concluded with the commercialization office of the host university.
Although I haven't done a detailed FA (just looked through Coinmarketcap, read their websites, and studied tokenomics), I am not sure about their actual functioning as a DAO. Current projects are not decentralized.
More than 70% of the tokens are managed by one party; all funding and management decisions are in fact made only by the core project team. In my opinion, this is a quite classic company with a centralized decision-making system. But despite this, they are worth observing and analyzing. While I was studying their ecosystem I was inspired and got a lot of new ideas. Thank you for being there, you are doing an amazing job.
DeSci Labs
The second interesting project is DeSci Labs. I think this is one of the Ethereum Labs divisions.
DeSci Labs establish tools for open science development. The platform publishes and integrates their research, software codes, various data sets, videos, and more into dynamic, interoperable research objects. You too can contribute to reproducible, open, and equitable science.
Also important to highlight the DeSci Foundation. The DeSci Foundation is an independent organization of leading scientists and innovators. They are committed to exploring the potential of applying new technologies, incentives, processes, and funding models to the scientific ecosystem. The DeSci Foundation aims to make science more robust, transparent, independent, and open. They also aim to change the culture in the scientific ecosystem.
These are 6 additional projects that I found interesting and meaningful in the nascent direction of DeSci.
DeSciWorld is a universal platform that helps users view, interact and understand all that is happening in the world of decentralised science.
UltraRare Bio is a web3 community at the intersection of science and art. A podcast platform.
Decentralised Science (DeSci) London explores decentralised science. It is a growing web3 movement in London. They hold various conferences, workshops, and networking events. The main aim is to create a hub where DeSci builders can exchange ideas, get information from researchers and get funding from investors. To be a catalyst for the whole DeSci community.
Gitcoin is a set of tools to enhance community-led funding opportunities and robust digital experiences.
Hypercerts is a new funding and incentive protocol. Each hypersert is a public claim to discrete work and the impact that results from that work. Projects can create hyperserts and distribute them to participants. Sponsors can own the hyperserts and the rights that come with them. Evaluators can create value for projects and sponsors by rating the quality of the hyperserts and offering ratings. Hyperserts create interoperability by acting as a single, open, shared, decentralised database for impact applications and funding mechanisms.
Ocean Shipyard is an early-stage grant program created to fund the next generation of Web3 dApps built on the Ocean Protocol. It is designed for entrepreneurs who want to build Web3 open-source solutions on the ocean, provide valuable data, innovate, and create value for the ocean ecosystem.
To write this article, I have reviewed more than 100 DeSci projects (many of them are at MVP or even the idea stage). This field certainly deserves attention from investors, crypto-enthusiasts, and representatives of the scientific world.
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