DeSci or Decentralized Science is a movement that aims to decentralize the whole ecosystem of science and scientists. Simply put, DeSci will leverage the technology behind Web3.0 and will be built upon it.
Importance of DeSci – Decentralized Science
- In most cases, scientists fail to get the proper project funding. Decentralized Science will Open a Gateway to new Opportunities for Science and Research.
- Currently, the information available on the internet is restricted because of the restrictions created by Centralized Websites. Thus, DeSci will make the Information accessible to anyone, and Ultimately productivity will increase.
- Scientists can use NFTs as a tool to gather funds for their research. For instance, users can auction their research or Findings as an NFT, and people can buy them on the NFT marketplaces. If you want to learn more about NFTs, we have a separate article for that. Click here.
- Intermediaries can be removed from the Equation by implementing Decentralized peer-to-peer systems. This could cut down the Total Fees as Middleman charges hefty fees for their service.
- Data is the new oil. However, most companies today own our data, giving them power over us. Implementing a Decentralized system can transfer the ownership of data back to users. Therefore, scientists can genuinely own their scientific data.
- Furthermore, scientists can Implement a DAO in their day-to-day work. This will help them ease the processes and complete a Specific niche. This can also help in increasing transparency as the data will be available to anyone on the Blockchain.
We all know that most of the technologies built with the help of blockchain are at their infancy stage, and DeSci is no less. Furthermore, DeSci doesn’t have a fixed prospect on which it can work. Scalability is also an issue which can hamper the working of the DeSci ecosystem. One aspect of DeSci that contradicts the whole definition of science is data ownership. For instance, when a scientist discovers something new, he will own the data and the right to sell it. This way, the scientist will own that “ Science “ behind the discovery, which is quite analogous to the fact that “science is for everyone”.
Another issue that needs to be addressed is the lack of “good” censorship in DeSci. For instance, if a scientist is using illegal methods for his research or is harming some other animal or human for his purpose, there will be nothing that could stop him from doing that. Therefore, DeSci needs to solve this problem that can pose a threat to various living organisms.
To conclude, we can say that the possibilities that DeSci offers are endless. Currently, DeSci is Not yet fully functional. The development is Going on, but proper scaling is still needed to make DeSci Achieve its full Potential. Furthermore, the contradictions of DeSci need to be addressed and solved such that it can proceed to scale its operations.