Bio Protocol: Opening a New Chapter in Biological Data for the Web3 Era
In November 2023, CZ's tweet about 'Been reading about biotech, thinking about how to use crypto to accelerate research funding there.' brought the DeSci concept to the public stage. DeSci is short for Decentralized Science, representing decentralized science combined with cryptographic technology.
In a recent interview, Ethereum founder Vitalik Buterin described decentralized science (DeSci), which he believes aims to answer: 'What emerging open decentralized technologies can make science better?' Unlike the virtual economic attributes of most Web3 projects, DeSci involves scientific development in traditional fields such as biotechnology, pharmaceuticals, and environmental science, possessing positive and practical social value.
In the DeSci field, biological sciences are currently one of the main ecosystems that scientists focus on, and Bio Protocol is among those with a more developed theoretical framework, standing at the forefront of DeSci, at the intersection of blockchain technology and biotechnology innovation.
1. What is Bio Protocol?
In the biotechnology field, research funding and commercialization have always faced many challenges. Traditional funding models are often time-consuming and severely centralized, making it difficult for many promising research projects to receive sufficient support. Additionally, early research results often fall into the 'valley of death', where research outcomes are hard to translate into practical applications, leading to a waste of research resources. Moreover, intellectual property barriers restrict the widespread dissemination and application of research outcomes, while patient participation is often insufficient, failing to fully reflect their real needs.
To break these bottlenecks, BIO Protocol was born. As an innovative platform for decentralized science (DeSci), BIO Protocol is committed to funding and commercializing scientific research in the biotechnology field, providing a new way for global patients, scientists, and biotech investors to co-fund, create, and own tokenized biotechnology projects and intellectual property (IP).
The core advantage of BIO Protocol lies in its decentralized funding model. Through this platform, research projects can more easily obtain funding support from around the world without going through cumbersome traditional funding processes. This not only improves capital efficiency but also gives more promising research projects the opportunity to receive funding, thereby accelerating progress in biotechnology.
Furthermore, BIO Protocol promotes innovation in biotechnology through global resource integration and intellectual property sharing. Research projects on the platform can fully leverage global research resources, including talent, technology, and equipment, thereby improving research efficiency and quality. At the same time, the tokenization of intellectual property makes it easier for research outcomes to be shared and applied, breaking the limitations of traditional intellectual property barriers.
For patients, BIO Protocol also offers more opportunities for participation. Patients can directly participate in the funding and decision-making processes of research projects through the platform, ensuring that their needs are fully reflected. This not only enhances the relevance and practicality of research projects but also increases patients' trust and satisfaction with the research outcomes.
2. How Does Bio Protocol Operate?
Bio Protocol is an innovative platform aimed at serving two major groups: on one hand, it serves crypto/DeFi native users by providing them with funding access and token trading convenience through the bio-economy and bio-launchpad; on the other hand, it serves scientists/biotech professionals by providing funding, guidance, and knowledge resources through the BIO incubator and BioDAO Bible.
Its core functions include:
Data Sovereignty: Users can fully control their biological data, including genetic data and health records, and achieve peer-to-peer sharing through the platform.
Decentralized Data Trading Market: Utilizing the transparency of blockchain and the mechanism of smart contracts, users can securely and efficiently sell or share biological data in the Bio Protocol market and obtain direct benefits.
Data Security and Privacy Protection: The sensitivity of biological data necessitates a higher level of security. Bio Protocol ensures data privacy through encryption technology while making the entire data usage process traceable and auditable.
3. The Industry Value of Bio Protocol
Bio Protocol is not just a technological platform but a profound transformation in the field of biological data.
Breaking Industry Barriers: Currently, biological data is often monopolized by industry giants in healthcare and pharmaceuticals, preventing ordinary users from benefiting. Bio Protocol enhances data liquidity through decentralized technology, allowing smaller medical institutions and research teams to equally access data resources and promote innovation.
Empowering Users: In the value system of Web3, 'user-centric' is the core concept. Bio Protocol empowers users by granting them data sovereignty, making every participant a true beneficiary of the data economy.
Cross-Industry Collaboration: The ecosystem of Bio Protocol is not limited to the healthcare field; the value of its data also holds immense potential in insurance, sports health, precise marketing, and other fields.
Three Reasons to Join the Bio Protocol Ecosystem
The BIO token, as the core governance token of the BIO protocol, demonstrates multiple application values. It grants holders the right to participate in the governance decisions of the BIO protocol, covering key matters such as planning for BioDAO and formulating terms for IP token sales, ensuring decision-making transparency and democracy.
The BIO token can be used to support the development of BioDAO, enjoy discounts on health products/services, and participate in governance decisions within BioDAO, directly influencing the growth direction of the projects. As the BIO protocol continues to develop, its value is expected to rise, providing holders with opportunities for asset appreciation.
The BIO token has good liquidity in the market, allowing holders to trade at any time and enjoy convenient asset liquidation services. These application values collectively reflect the important position and unique appeal of the BIO token within the BIO protocol.
Investing in the Future: Biological data is the next blue ocean market, and Bio Protocol is at the forefront of this trend.
Sharing Benefits: Users can obtain multiple benefits through data trading and ecological incentive mechanisms.
Exploring Innovation: Bio Protocol provides an open platform for users and developers to explore more possibilities of biological data together.
