Decentralized science (DeSci) protocols are a new concept that aims to revolutionize scientific research by using blockchain technology, tokens, NFTs, and decentralized autonomous organizations (DAOs) to incentivize community-driven collaboration. Similar to how decentralized finance (DeFi) was in 2019, DeSci is still in its early stages but shows massive potential.
Projects like BIO Protocol, Pump Science, and GLP1 are exploring various ways to use blockchain technology to improve scientific research, such as making data more accessible while ensuring security and transparency. DeSci is focused on “citizen science,” rejecting institutional influences like big pharma and aiming to solve issues like flaws in the peer review system, cheap genetic testing, and even curing baldness.
The industry has emerged from the COVID-19 pandemic, as industry players looked for new ways to fight infections and diseases. DeSci could make data more accessible to researchers, healthcare professionals, and patients, leveraging the benefits of blockchain technology. With a current $1.2 billion market cap, DeSci is still small compared to DeFi but is gaining traction.
Top DeSci tokens include OriginTrail (TRAC), Rifampicin (RIF), and VitaDAO (VITA), with market caps of $374.9 million, $133.1 million, and $124.7 million, respectively. As cybersecurity attacks in healthcare become increasingly common, DeSci could provide a safer and more transparent way to handle sensitive health information.
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