The Future of Research: VitaDAO Executive Sheds Light on DeSci and Blockchain’s Role

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As a seasoned researcher who has spent countless hours poring over lab reports and academic journals, I find the concept of Decentralized Science (DeSci) intriguing and potentially transformative for the scientific community. With my background in molecular biology and my passion for pushing the boundaries of knowledge, I can’t help but be drawn to this innovative approach that seeks to merge traditional science with the decentralized ethos of Web3.

This year, Decentralized Science (DeSci) has been advancing in the cryptocurrency world, generating anticipation about how blockchain technology and token-based financing innovations could outperform conventional research systems. BeInCrypto recently interviewed Maria Marinova from VitaDAO to explain DeSci’s funding strategy, its application of decentralized autonomous organizations (DAOs) for transparency and management, and the movement’s potential future developments.

DeSci At Its Core

Decentralized Science (DeSci) leverages blockchain technology to bolster scientific research and collaboration. It introduces tokens, Non-Fungible Tokens (NFTs), and Decentralized Autonomous Organizations (DAOs) to foster openness, motivate contributions, and empower community-led decision-making. Blockchain safeguards data, while DAOs establish the framework for transparent governance.

In contrast to conventional science, DeSci empowers researchers through crowdfunding and ensures clear, open intellectual property (IP) rights with the help of blockchain technology. This technology ensures a secure record of IP ownership and transactions, which is particularly useful in collaborative research environments where various parties contribute concurrently. Moreover, as Maria Marinova points out, DeSci provides researchers with a greater level of autonomy to explore experimental projects.

In Marinova’s words to BeInCrypto, traditional funding methods tend to favor projects that are safe and incremental over those that are risky but could lead to groundbreaking discoveries. This preference for the status quo is rooted in a system that values predictable results and adherence to existing norms, thus hindering revolutionary innovation. DeSci seeks to revolutionize these mechanisms by emphasizing transparency, giving more people a say in funding decisions, and encouraging daring research.

In addition to some notable aspects, DeSci eliminates barriers like paywalls on important studies, making them easier to access. Furthermore, it distributes funding for research using decentralized methods such as cryptocurrencies or Decentralized Autonomous Organizations (DAOs).

Projects and Use Cases

As a researcher immersed in the Decentralized Science (DeSci) realm this year, one noteworthy project that captured my attention was Pump.Science. This innovative platform harnesses the power of gamification to delve into the possibilities of treatments aimed at extending lifespan. The platform adopts a multi-tiered testing approach, commencing with basic life forms and gradually advancing to more intricate models for further exploration.

At Pump.science, we run a system based on prediction markets where users buy tokens connected to certain life-extension therapies, reflecting their faith in the therapy’s possible success.

As treatments advance through testing stages, live-streamed data is made available, allowing users to make predictions based on ongoing results. Token sales at predefined milestones fund further experimentation.

Marinova shared with BeInCrypto that prediction markets offer a potential means for guiding research efforts and promoting teamwork. These platforms tap into collective wisdom to assess theories, determine funding distribution, or gauge the probability of project success. They could also serve for prioritizing research projects, validating hypotheses, and forecasting project outcomes. However, it’s essential to design them thoughtfully to steer clear of ethical issues, Marinova added.

VitaDAO is another platform that emphasizes using blockchain technology to make longevity research more accessible for everyone. It’s been a trailblazer in employing Intellectual Property Non-Fungible Tokens (IP-NFTs) and Intellectual Property Tokens (IPTs), transforming research ownership into tradeable assets. Members of the community use the VITA governance token to finance projects and share in their profits.

Marinova stated that through decentralized autonomous organizations such as VitaDAO, funding is guided by the community itself, using methods like quadratic funding to ensure alignment with the public’s best interests. This approach minimizes biases, expedites decision-making processes, and encourages wider participation.

Apart from studies focused on extending lifespan, other platforms adopt unique strategies for decentralized scientific exploration. One such platform is NobleBlocks, a blockchain-driven scholarly journal that aspires to make research and publishing more accessible to all.

Challenges and Criticism

In the past year, DeSci has experienced significant growth, but it hasn’t solidified its presence within Web3 yet. To establish itself there, it must tackle some key issues first.

In a traditional academic setting, DeSci (Decentralized Science) is frequently met with doubt. To establish credibility, it’s crucial to demonstrate that we’re offering more than mere buzz and unfulfilled pledges. This involves presenting tangible outcomes – projects that garner attention for their significant impact, rather than just their uniqueness, as explained to BeInCrypto.

One approach to rephrasing this statement in a clear and natural manner is: In the realm of scientific research, one challenge DAOs encounter is managing intellectual property rights. This is due to the frequent collaboration between researchers, institutions, or companies, which can create complexities regarding ownership of research outcomes. To fully maximize its potential, DeSci should establish legal structures that can effectively handle disputes among various stakeholders.

It’s equally important for us to establish transparent guidelines for peer review, data sharing, and intellectual property management. This way, everyone involved, from researchers to investors, can have confidence in the system. It’s akin to constructing a bridge connecting two realms – one steeped in long-standing tradition and the other rapidly advancing into the future,” Marinova stated.

Exploring the application of Non-Fungible Tokens (NFTs) or comparable technologies in research contexts brings up intriguing questions regarding their interaction with current intellectual property regulations, such as patents and copyrights.

In a decentralized setting, ensuring compliance with factors such as financial guidelines, data privacy rules, and ethical standards for scientific research can present similar complexities.

Issues in Research Quality

From another standpoint, DeSci projects must also find a way to ensure that only sound research is promoted. This problem proves difficult to solve, considering the open nature of blockchain technology.

While DeSci prioritizes accessibility, this could lead to situations where unqualified individuals may unintentionally support low-quality research because of a generalized lack of understanding, personal connections, or financial motivations.

This situation sparks curiosity about what type of scientific studies receive priority in funding. It’s possible that some stakeholders might lean towards research providing immediate business advantages, often overlooking foundational work that may not yield quick financial gains at first. In her discussion, Marinova highlights the delicate equilibrium between catering to market requirements and providing a platform for researchers to explore innovative, less conventional lines of inquiry within longevity studies.

Currently, longevity research is experiencing a surge of interest, and it’s easy to understand why. People universally aspire to live longer, healthier lives. Yet, it’s not merely the market that’s fueling this focus; it’s also about pushing boundaries and defying conventions. The longevity field represents bold, visionary thinking, aligning perfectly with DeSci’s philosophy of taking risks and challenging norms. This area resonates strongly with crypto-centric communities, who are often drawn to innovative, transformative concepts. However, this emphasis on longevity research doesn’t limit the scope of DeSci in any way,” she explained to BeInCrypto.

Decentralized Autonomous Organizations (DAOs) might help fill the divide by cleverly distributing resources, such as reinvesting earnings from business ventures, towards more substantial and long-term studies. In this way, significant advancements derived from fundamental research could eventually be applicable in commercial settings.

The Future of DeSci

Even with hurdles like difficulties in adoption, vague laws, and issues related to ownership of ideas, Decentralized Science (DeSci) has a strong possibility of transforming how research is conducted.

By tackling these problems, we can successfully connect the dots between conventional science and a more distributed system.

Marinova outlined a plan to blend autonomous decision-making structures with verified processes and openly accessible strategies,” said Marinova, “resulting in a fusion model that preserves the accuracy of conventional scientific practices, all the while promoting the diversity of Web3.

There are also existing options that can attract researchers and investors alike, she added.

As a research analyst, I emphasize that to entice researchers towards DeSci, it’s crucial to showcase distinctive benefits such as shorter funding cycles, fair intellectual property ownership, and the freedom to undertake high-risk projects without compromising professional stature. For investors, DeSci presents an appealing proposition due to its transparency and goal-oriented models. Blockchain-based platforms in DeSci offer real-time monitoring of funds, milestones, and outcomes, guaranteeing accountability, as I explained to BeInCrypto.

As DeSci is relatively new and growing, it offers the opportunity to fine-tune its methodologies for scientific research and address any aspects that require further consideration.

The ongoing achievements and its potential for speeding up scientific advancements via cooperation and openness are enticing to scientists aiming to combine science with a decentralized approach, suggesting a promising future.

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2024-12-24 19:20