Decentralized Science (DeSci) Outlook 2024
TipTipWhat lies on the horizon for DeSci in 2024? Below is a list of notable predictions, and the prevailing sentiment leans towards optimism.
With DeSci, we've seen a few interesting DAOs [decentralized autonomous organizations] come up, but one particular area that is untapped, as far as we know, are decentralized efforts to fund open-source projects. I think there is a lot of potential there, coupled together with AI, for example, with decentralized machine learning models.
Finally, there’s decentralized science. Some 50% of the DeSci projects we track were built in the past year. One of the best OG crypto investors I know has been dedicating 100% of his time here. It’s a market where crypto incentives make sense: trust in our scientific establishment may be at all-time lows, and the current system is riddled with bureaucratic inefficiencies, poor data methodologies, and piss-poor incentive schemes (peer-reviewed papers that lead to tenure!), whereas crypto has already demonstrated a proven ability to fund…science experiments! At a massive scale. Token sales and DAOs were built to revolutionize how we do research, and there is enough interest in longevity, rare disease treatments, and space exploration alone to drive development in this sector.
Been reading about biotech, thinking about how to use crypto to accelerate research funding there. Keep building!
DeSci has emerged as a promising shift from traditional science. By leveraging blockchain technology and Web3 principles, it can solve different problems such as funding inequality, issues around intellectual property or a lack of collaboration within the scientific community. The bull case for DeSci is that it has become the new GitHub of science.
Yet, DeSci remains an evolving experiment. The ecosystem is nascent and has yet to reach its inflexion point. Challenges persist, from technological complexities, limited adoption, credibility issues, and legal uncertainties.
Despite the obstacles, DeSci holds significant promise. It will likely transition toward greater mainstream adoption in the coming years with real and new use cases for improving science.
DeSci getting more traction as a strong use case of Blockchain — using Web3 technology to establish a secure, lasting record of scientific contributions that enables fair credit allocation, simplifies transactions, allows worldwide resource sharing, and overcomes economic barriers.
#DeSci - The New Crypto Darling? Decentralized Science (DeSci) is poised to become the next significant trend in blockchain, mirroring the amount of attention and funding going in to biotech etc through traditional funding mechanisms. OGs like @DataLakeToken , @GenomesDAO and relative newcomers like @ResearchHub are ones to keep an eye (or two) on.
