Charles Hoskinson advocates for Decentralized Science to address the unfair practices of academic publishers, ensuring better compensation for authors and reviewers.
Major publishers like Elsevier earn billions, while contributors to research, such as authors and reviewers, receive no direct payments for their work.
Decentralized Science leverages blockchain technology to provide free publishing, transparency, and collaboration without the need for traditional academic publishers.
Charles Hoskinson, the founder of Cardano, recently expressed his support for blockchain-based Decentralized Science (DeSci). This came as a response to a post by Mushtaq Bilal, a recognized figure in academic writing, who highlighted the discrepancies in the academic publishing industry. The post shed light on the significant revenue generated by major academic publishers, compared to the lack of compensation for authors and reviewers.
https://twitter.com/IOHK_Charles/status/1843644783899857019
Major Publishersâ Revenue Disparity
Bilal's post presented data on the enormous revenues of top academic publishers, such as Elsevier, which earns $3.9 billion annually. Other notable publishers, including Springer Nature and Wiley, bring in $2 billion and $1.8 billion, respectively. Despite these massive earnings, authors and reviewers receive no direct payment for their contributions to the academic world.
In response, Hoskinson pointed out that the current peer review and publishing system is deeply flawed. According to him, the power lies in the hands of publishers, who profit while those who create and validate the research receive nothing. He argued that Decentralized Science offers a potential solution by providing an alternative system where research can be freely shared and validated without paywalls or high publication costs.
Decentralized Science as a Blockchain Solution
The Decentralized Science approach operates on an open-source, peer-to-peer network. It offers free publishing services and encourages collaborative work between researchers. This system eliminates the financial barriers that often hinder scientific progress, ensuring that research is available to everyone without the need for large-scale publishers. Furthermore, blockchain technology enhances the transparency and security of this system, addressing challenges related to data sharing, funding, and collaboration.
Cardanoâs Support for Innovative Blockchain Solutions
Hoskinson's endorsement of DeSci is in line with his previous support for innovative blockchain projects. Recently, he backed the Sui blockchain for its implementation of SCION, a secure alternative to the Border Gateway Protocol. This initiative reflects his broader vision of using blockchain to disrupt traditional systems and create more equitable solutions across various industries.
Ultimately, Hoskinsonâs push for Decentralized Science aims to revolutionize the academic publishing world. By leveraging blockchain, DeSci promises to bridge the gap between research creators and consumers, ensuring fairer treatment for authors and reviewers.
