Welcome to the Blockchain & AI Forum, where your technology questions are answered. Is there an alternative to the existing science research funding model? The answer is yes–there is an alternative, it’s called Decentralized Science (DeSci) and the best example is called Unbound Science. We begin with what is science research funding, who funds science, and conclude with a very brief mention of Unbound Science. An exhaustive examination of Unbound Science will be presented in parts two-and-three of this three-part series over the course of the next three weeks.
What is science research funding? There is no precise definition of science research funding that is universally accepted. However, using a general consensus definition, I think we can say science research funding:
is the financial support provided to researchers and institutions to conduct studies, experiments, and investigations that push the boundaries of human knowledge. This crucial resource enables scientists to explore new ideas, develop cutting-edge technologies, and tackle some of the world’s most pressing challenges. It typically covers expenses such as personnel salaries, laboratory equipment, data collection, publication costs, and travel for conferences
Who Funds Science Research. Please draw your attention to the critical phase in the definition, “… financial support provided…”. The statement begs the question, “provided” by whom? The answer to that question follows.
According to the National Science Foundation, science research funding by category and percentage of the total science budget is:
- Private Sector, i.e., Corporate Research and Development 50%
- Federal Government Agencies 35%
- Academic institutions 11%
- Private foundations 3%
Clearly the top three funding sources dominate the landscape. If you add the four funding sources the sum equals 99%. Where is the missing one percent? You will find it in something called emerging decentralized science platforms. What are decentralized platforms within a science research funding content? I’ll explain that next and start by naming this phenomenon—it’s called decentralized science or DeSci.
What is Decentralized Science (DeSci). DeSci is an emerging movement and technological framework that uses blockchain, cryptographic tools, and decentralized governance to improve how scientific research is funded, conducted, validated, shared, and rewarded. DeSci aims to address long-standing inefficiencies and inequalities in traditional science by enabling open, transparent, and community-governed research ecosystems. DeSci operates in the web-3 ecosystem; thus, separating it from existing models. Web-3 ecosystems are characterized by decentralized technologies, i.e., smart contracts, tokens, and governance via decentralized autonomous organizations (DAOs), not top-down hierarchies. In DeSci, the emphasis is fund, govern, and distribute scientific research in a transparent, open-access, and community-driven manner. In other words, when operating as intended, DeSci is antithesis to the status quo and disrupts the big donor science research funding model.
How Does DeSci Work. Under ideal circumstances DeSci is characterized by the following six traits:
- Funding Research via Blockchain. Scientists can raise funds directly from across the globe using crypto-currencies, NFTs, or project-specific tokens.
- Decentralized Governance. Funding decisions can be made through DAOs and/or community members.
- Tokenized Incentives. Contributors are rewarded with tokens for participation, publication, peer-review, data sharing, and many other activities.
- Open Access and Data Transparency. Research outputs are stored on decentralized storage platforms, making the research permanently accessible.
- Reputation and Credentialing. With DeSci verifiable credential, on-chain peer review, and reputation scores are all possible and that helps assess the credibility of researchers without relying solely on traditional academic gatekeepers.
- Interoperable and Modular. Generally speaking, DeSci platforms are composable. Composable platforms allow interoperability across funding tools, DAOs, publishing platforms, and decentralized identity systems.
What is Unbound Science. Unbound Science is a prime example of a DeSci platform. Unbound Science is designed to check every box on the checklist above when it reaches full maturity. Next week a deep dive into Unbound Science.
Until next time,
Yogi Nelson
Blockchain & AI Forum 