Decentralized science (DeSci) aims to disrupt how science is done, funded, and shared, with the potential to speed up the way we make scientific discoveries. Using blockchain and crypto-economic incentives, DeSci can also democratize access to scientific knowledge, reduce reliance on traditional funding bodies, and ensure transparency in research.
But crypto, as a whole, still faces fair and not-so-fair criticism. Since DeSci and crypto operate within a Web3 framework, let’s look into the principles of decentralized science, their intersection with crypto, and the key criticisms DeSci may face because of the inherent relationship between DeSci and crypto.
What Is Decentralized Science?
Decentralized Science (DeSci) is an application of Web3 to scientific research. It uses blockchain, smart contracts, and often, decentralized autonomous organizations (DAOs) to create an open and transparent ecosystem for the scientific process, including research publication, funding, and collaboration. The core principles of decentralized science are:
- Open Access & Transparency: Research data and findings are made public, and knowledge is accessible to all without the barriers of expensive journal subscriptions or paywalls.
- Decentralized Funding: Crypto-based crowdfunding models can help support research without traditional grants, reducing the power of centralized institutions to decide which research gets funded.
- Tokenized Incentives: Reward contributors, reviewers, and researchers with cryptocurrency or tokens, financially compensating those who add value to the research ecosystem.
- Immutable Records: Blockchain creates unchangeable research records, reducing fraud and increasing reproducibility, which is a growing concern in the scientific community.
- Decentralized Peer Review: Blockchain-based voting or stake-based consensus mechanisms to assess research quality, a broader and potentially more democratic evaluation process.
DeSci has the potential to democratize scientific knowledge, promote global collaboration, and accelerate innovation. Unlike traditional systems, where access to research data and findings is often restricted, DeSci ensures that scientific knowledge is accessible to all. This democratization of information can lead to a more inclusive and dynamic science community where researchers from around the world can contribute and benefit equally.
Challenges with Traditional Academic Research
Traditional academic research is often plagued by inefficiencies, lack of transparency, and centralized control. The current system is criticized for its limited funding opportunities, high competition, and restricted access to research data. The “valley of death” between academic research and clinical development is a significant challenge, where promising findings may become lost due to lack of funding.
The peer review process is also often opaque. Although data integrity is paramount, there is often no way of knowing whether data has been preserved or manipulated. These issues can stifle innovation and slow down progress. By addressing these challenges, decentralized science aims to create a more efficient and transparent research ecosystem.
The Role of Crypto in DeSci
Crypto and blockchain technology play a central role in the decentralized science movement. Several mechanisms enable this integration:
- Funding Through Decentralized Autonomous Organizations: Research DAOs raise capital through token sales and distribute funding based on community votes, bypassing traditional academic grant systems that are slow, bureaucratic, and favor established researchers over new entrants.
- NFTs and Research Ownership: Scientists can tokenize their research and even sell it as non-fungible tokens (NFTs) to fund future work. This creates a new way for researchers to monetize their findings while keeping intellectual property rights intact. For instance, one notable DeSci project, Molecule Protocol, utilizes NFTs to encode agreements and promote the development of scientific research.
- Smart Contracts for Research Integrity: Automated contracts will ensure research funds are allocated based on pre-defined milestones, reducing mismanagement and ensuring accountability.
- Open Science on Blockchain: Platforms will store research papers, raw data, and methodologies in immutable records, ensuring transparency. This addresses issues of data fabrication and lack of access to raw experimental results.
Benefits of Decentralized Science
- Democratization of Research: By removing traditional gatekeepers such as journals and grant agencies, DeSci enables a more open research ecosystem where anyone can contribute and get funded. This democratization of information fosters a collaborative scientific community, enhancing engagement among researchers, funders, and the public.
- Faster Scientific Advancements: Blockchain’s transparency and open-access nature allows researchers to build upon each other’s scientific findings faster, reducing duplication of effort and speeding up discoveries.
- Greater Collaboration: Decentralized science encourages global collaboration among scientists, institutions, and independent researchers who might not otherwise collaborate.
- Incentivizing Open Science: Many scientists are reluctant to share data because of a lack of incentives. By integrating crypto-based rewards, decentralized science makes open-access publishing financially viable.
DeSci also has the potential to revolutionize longevity research and medical applications. By providing a decentralized platform for research funding, data sharing, and collaboration, DeSci can accelerate the discovery of new treatments and therapies. For instance, VitaDAO is a decentralized autonomous organization that focuses on funding longevity research, while AthenaDAO raises funds for research into women’s health.
These initiatives demonstrate the potential of DeSci to address some of the most pressing challenges in medical research. By leveraging decentralized networks, researchers can access a broader pool of resources and collaborate more effectively, leading to faster and more impactful scientific advancements.
Criticism of Decentralized Science
Despite its promise, decentralized science does face challenges and criticism, such as:
1. Scalability and Adoption Issues
Traditional academic institutions and funding agencies are slow to adopt blockchain-based systems. Decentralized funding models empower communities to support various research projects, allowing for innovative, high-risk projects to receive support from a broader base of contributors. However, many researchers rely on institutional affiliations, making decentralized funding models harder to sell. Integrating blockchain into scientific research also requires technical expertise, which some researchers may lack.
2. Quality Control and Peer Review Process Concerns
Decentralized peer review mechanisms lack the rigor of traditional journal-based peer review, which has established processes for scientific validity. Also, token-based voting can lead to popularity-driven research rather than scientifically rigorous work, favoring sexy or trendy topics over foundational science.
3. Crypto Volatility and Financial Risks
Crypto volatility and financial risks are significant concerns, as the value of tokens can fluctuate rapidly. This can impact the stability of DeSci projects and the confidence of contributors. While the regulatory environment for DeSci is still evolving, there is a need for clearer guidelines on the use of blockchain technology in scientific research. These financial uncertainties can pose risks to the sustainability of DeSci projects, making it crucial for the community to develop strategies to mitigate these risks and ensure long-term viability.
4. Fraud and Manipulation Risks in the Scientific Community
Without centralized oversight, bad actors can exploit the system for fraudulent research or funding scams, creating a credibility problem for decentralized science platforms. Ensuring the integrity of the process is crucial to prevent fraudulent research or funding scams on DeSci platforms.
Sybil attacks (where one person controls multiple identities) can also manipulate DAO votes and research assessments, undermining funding decisions. Lack of accountability can also lead to the promotion of pseudoscience or unverified claims, harming science rather than advancing it.
Decentralized science rethinks how research is funded, published, and reviewed. As blockchain and crypto technologies evolve, DeSci can be a key driver of innovation, but it will need to overcome some of the structural challenges it faces.
Decentralized Science, Crypto, and Looking Forward
DeSci is a promising field that has the potential to transform the scientific research landscape. By leveraging blockchain technology, DeSci can create a more open, transparent, and collaborative environment for scientific discovery. While there are challenges to be addressed, the benefits of DeSci, including democratized access to scientific knowledge, global collaboration, and accelerated innovation, make it an exciting and worthwhile pursuit.
As the field continues to evolve, it is essential to address the challenges and risks associated with DeSci to ensure its long-term success. By finding a balance between Web3 decentralization and academic rigor, DeSci can unlock new opportunities for scientific innovation and drive the future of research.
