Smart Contracts for Scientific Developments
In Soviet times, there was a poster saying “The purpose of science is to serve the people” on the facade of one of the Akademgorodok institutes. With all due respect to Soviet scientific achievements — in my opinion, the purpose of science is not to serve the people, but to search for truth. Nevertheless, in its soft power, the western world has managed to put this slogan into effect without big posters on a red background. The power of corporations and the processes of globalization put science in the position of ‘executor’. Applied science, rapidly producing new gadgets and appliances for a comfortable life of the world’s population, moves primarily in those directions that the consumption market indicates. The tragedy of science is that it has become a productive force. After all, a fundamental discovery does not bring profit or other advantages to its owner. But what would the world be like today without the discoveries of Darwin, Archimedes, Newton, and Mendeleev — who, as we know, were not particularly industrious nor diligent?
Creating Scientificoin, we had a clear idea of the specifics of interaction with the scientific environment, since 80% of the development team were born or lived most of the time in a city built 60 years ago specifically for the development of science in the USSR.
In this article, I will expand on the types of scientific projects based on our platform, as well as their prospects and risks.
Due to the streamlined process of technological commercialization and their short period of their implementation, 90% of projects that successfully attract financing will be applied scientific developments. Firstly, because the attention of investors will be attracted by off-the-shelf technologies with a prototype model and technical documentation. And secondly, depending on the completion of their development, the guarantees and profitability for investors will be predictable.
When creating a smart contract, it will be possible to account for any technical or financial specifics of the developer (with the exception of legal ones, but we are waiting for the regulation of the cryptocurrency sector, which will surely take place), and our task is to create templates for such contracts for easy application to the scientific field. Over the years, legal and technical examples of agreements with the use of fiat currencies, examples of investment, joint development, or gratuitous support of scientific projects have piled up in Akademgorodok. With the informational support of Technopark https://academpark.com and Biotechnopark http://www.btp-nso.ru, we have another advantage — with each new template, we will offer it for worldwide use, locally or regionally. This quite feasible task does not require huge funding or unique knowledge unlike nuclear physics, but the immediate benefits for and inclinations toward a revolutionary shift in the financing of science in these days of information society are obvious.
It is my conviction that in the last century, human society conjointly sought to colonize the Moon and explore Mars not only because of the Cold War. People have since ceased to be dreamers; instead, they demand new achievements in the zone of consumer comfort. Developed information technologies, virtual entertainment and comfortable living conditions (in most countries) tend to hinder bold and risky initiatives.
In ancient Greece, thinkers were very rich people not by merit, but by inheritance. Many current scholars — especially theorists — are forced to live at the expense of the state, which due to bureaucratic natures often kills unprotected theories or technology not registered in accordance with the state form. A friend of mine once told me: “Science is the satisfaction of one’s own curiosity at the state’s expense.” Perhaps it sounds harsh, but what would we do without Giordano Bruno’s curiosity?
When applied to basic research, Scientificcoin can help scientists shed light on their ideas thanks to the subjective assessment of thousands of people. After all, a fresh perspective on art or literature can bring public recognition to the creator, and, as a consequence, instantly materialize its result. But in the case of the theorists, this is an extremely rare phenomenon. This research will be supported by small donations from patrons and private individuals.
It may be a strange analogy, but what if Alfred Nobel had established his foundation in the blockchain era? Smart contracts can be applied in basic research to effectively manage costs, relationships between developers, their colleagues, partners, etc. And most importantly, there is transparency in the flow of funds! Donations of citizens to such organizations as the Red Cross will be available to the public and conveniently audited by anyone.
Cryptocurrency provides a convenient way for transnational transfers. The transaction will be recorded in the blockchain — it’s almost like a sign with your name on a bench in the park, the reconstruction of which was donated to by your grandfather!
For the record — Scientificcoin does not deposit, create, or control tokens, smart contracts or wallets of creators. Using the Scientificcoin platform and templates of hundreds of smart contracts, a scientific project or a charitable organization that specializes in supporting scientific discoveries will be able to create their own tokens and smart contracts based on the Ethereum blockchain base without giving control over them to anyone.
As a pilot example of a charitable foundation, we decided to organize a fund controlled by the Biotechnopark Koltsovo and the State Scientific Center for Virology and Biotechnology Vektor (Vektor SPA), the Federal Service for Supervision of Consumer Rights Protection and Human Welfare, before the final version of the platform was launched. The purpose of the fund was to raise funds for humanitarian assistance in the form of measles vaccines. It is known that poor countries are most vulnerable to such epidemics. In recent years, the incidence has increased 22 times (foci of the epidemic recorded in 16 countries located in West and Central Africa). Also, a measles epidemic has been registered against the background of Ebola virus activity. For many years, Vektor SPA has been the producer of measles vaccine, the cost of which is $1, as compared to the European analogs, the cost of which varies from $8–15. Funds received from donations will be used to produce vaccines and hand them over to the government of Angola.
Today, many applied scientific developments are invested in by private individuals; crowdfunding platforms are especially popular. With their help, investment projects creating innovations are successfully funded, slightly transforming people’s everyday life. Here’s an example — the drinking jacket: https://www.kickstarter.com/projects/adv3nture/the-drinking-jacket-the-ultimate-drinking-accessor/description.
Such projects cannot even be called applied science. However, the consumer market responds to quality marketing solutions much better than to poorly visualized innovative technology. The cost of innovation marketing is many times higher than the understandable concept of a “super yoga mat.” I mean no insult to the developers of simple technical innovations; I only point out the inaccessibility of the crowdfunding market for difficult scientific developments that often fall beyond our imagination. In this case, there is the question of how to examine such complex and unique projects. I previously wrote about this matter in another article https://medium.com/@dvedenidov/scientificcoin-blockchain-platform-for-scientific-projects-with-decentralized-projects-valuation-227586e015e .
Below is a short description of how the platform will work in relation to scientific projects. Learn more on our site http://scientificcoin.com or from other articles on the project.
· Each project that has been evaluated by a mathematical algorithm and listed for a decentralized peer review is automatically allowed to create a smart contract and seek funding.
· At any time, when the developer/scientist feels like their project has a sufficient number of followers and comments, they create a smart contract and launch an ICO or fundraiser for development and donations.
· Each project creates its own smart contract, token, and wallet. Fundraising takes place in most popular cryptocurrencies to a multi-currency wallet; in the case with the smart contact, it will be Ethereum.
Since every successful project needs to list their tokens in the exchange, Scientificcoin will automate this process. Scientific projects will no longer need to negotiate with the stock exchanges, which is an impossible task for many current ICOs. All tokens based on ERC-20 created on the platform will be marked SNcoin.
Cryptocurrency is a new tool for keeping funds and investing. We understand that the still emerging market suffers high volatility today, and most investors expect a high return on investments. That is why, as I wrote at the beginning of the article, 90% of the projects will be related to applied science, and most of them will have an off-the-shelf technology. In any case, our platform will make a worthy step towards the institute of ICO organization, as well as the evaluation of profitability, reliability, and social significance of projects. Some projects will be highly profitable, but risky; others will be reliable with conservative income. But it is no doubt that we will create an impartial risk assessment that potential investors can base on.