DeSci can address key issues such as lack of funding, poor collaboration between scientists and clinicians, and low reproducibility and replicability of scientific results
For example, DeSci can address funding shortfalls by using decentralized autonomous organizations (DAOs) as a mechanism for generating funding. DAOs bring together patients, researchers, and investors with the common goal of bringing a study to the clinical stage and then commercializing it. Transparent decision-making is enabled through token management, smart contracts that enforce funding milestones, #tokenization of intellectual property, and distribution of ownership shares among participants.
This new sector is a DAO where researchers and clinicians agree on research goals and outcomes from the outset. Tokenization of intellectual property ensures fair rewards for both parties, and incentive-based peer-review systems encourage clinicians to contribute earlier. Reputation systems in the chain highlight contributions and increase trust and collaboration in the scientific community.
DeSci can also improve reproducibility of results by using #blockchain to transparently record research methods and facilitate repetition of experiments. The #Web3 platform, allows open sharing of all results, including failed studies, and eliminates publication bias. At the same time, the decentralized repository increases trust in scientific results by protecting data, speeding up search, and improving collaboration. The 57 projects listed on CoinGecko have a market capitalization of $1.75 billion, including DeFAI ($2.7 billion), 41 projects, and $47 billion. Relatively small compared to the broader #cryptocurrency AI market, which is valued at USD
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