8 reasons to care about decentralized science, for the non-scientists
Whether you’re a hardened web3-native or just a crypto-curious observer, it’s impossible to deny the level of noise in the cryptoverse today. Meteoric rises can give way to catastrophic crashes. Larger-than-life-personalities can be toppled overnight by anonymous attackers. And it all happens faster than the rest of the world can look up the definition of a DAO. But the technology persists, because its potential cannot be ignored.
So, how do we sift through it all to find the real gems? My suggestion — focus on the larger narratives that align with your personal values and filter down from there. For instance, I’m taking the current market downturn as an opportunity to focus on the narrative of sustainable and regenerative system design — projects that can demonstrate tangible and positive impact in the real world, not just in the metaverse.
Decentralized Science (or “DeSci”) is one such movement transforming how science is funded, conducted, and published. While the wider market has struggled in 2022, DeSci has exploded with promising new projects, inspiring founders, and a plethora of resources. Big names are beginning to take notice too, with a16z and Cointelegraph publishing thought pieces on the potential of this movement (here, here, & here).
“OK Brett, but I’m not a scientist, and I don’t have a PhD. Why should I care about DeSci?”
Great — I’m glad you asked! Here’s why:
Reason 1
You’re already participating in the scientific process, but likely as a voiceless contributor
I’m talking about your tax contributions. Government funded research is the largest source of global research funding, with the United States leading the way. Unfortunately, however, only a small group of individuals has any say over which projects get selected for funding and the broader community has no ability to capitalize on the returns of their “investment” (if you want to consider taxes an investment). Once these research projects are complete, the results are often locked behind paywalls that are owned by centralized publishers and never make it to the public eye. In the United States, this extractive process has contributed to an outsized expenditure on research for military applications, instead of research that can directly benefit communities (sustainability, clean energy, cognitive medicine, the list goes on…).
Imagine if instead you could select the research that your contributions support and transparently track the progress of the projects you’re passionate about.
Reason 2
You want to directly participate in the financial upside of R&D funding
In today’s system, if an ESG-conscious retail investor wants to passively invest in a specific research area, the best that they could do is invest in a publicly traded company that is working to develop that technology. At that point, the investor has likely already missed out on a significant portion of the potential upside of technology commercialization. Additionally, when you invest in a company instead of a project, a significant portion of your investment goes towards overhead, reducing the potential impact per dollar spent on research.
Imagine if instead you could invest directly in research before it’s commercialized, profit from the sale of generated assets, and gain exposure to the upside of commercial success.
Reason 3
You believe in the power of community to solve problems that are important to you
An underappreciated strength of cryptoeconomic systems is their ability to help people collaborate. A well-designed system can align user incentives and resolve coordination failures, making it easier for distributed groups of people to work towards a common goal. When cryptoeconomic systems are applied to tackle challenges in science, the results can be profound and highly targeted, as is the case with projects like Crowd Funded Cures, Fleming Protocol, or HairDAO. The power of a community that is diverse and distributed, while remaining value-aligned and focused, cannot be understated — especially when that community is working to solve the global challenges we face today.
Imagine if you could easily identify, support, and contribute to global communities that share your vision for how technology will shape our future.
Reason 4
You want to fund and conduct your own research projects, even without an advanced degree
What does it mean to be a scientist? To many it invokes images of white lab coats, bubbling Erlenmeyer flasks, and prestigious university degrees. But what about the hobbyists and moonlighters — the individuals with a passion for science that have had their participation suppressed, perhaps due to where they’re from or their lack of a formal degree? Why shouldn’t their work be funded, especially if their methods are sound? Current crowdfunded research platforms like Experiment have validated the efforts of these citizen scientists, demonstrated community interest in funding research, and lowered the barrier to entry for conducting credible science. Emerging web3-enabled funding platforms (like what we’re working on!) aim to scale this success by turning crowdsourced funding contributions into investments that can deliver financial return.
Imagine if you could bypass traditional barriers to funding your own research and support a more inclusive definition of what it means to be a scientist.
Reason 5
You want to combat the rise of disinformation and get paid to learn new things
Anti-vaxxers, flat-earthers, climate change deniers — all communities that have grown in recent years, exacerbated by a general decline of public trust in science. Unfortunately, many research topics have become politicized, making it more difficult to find objective and verifiable facts. Partially to blame is the current disconnect between the general public and the research being conducted. DeSci aims to raise public trust in science by involving communities more holistically in the scientific process and by promoting education through open-access publishing and incentivized learning programs (akin to Coinbase’s learn-to-earn).
Imagine if you could help strengthen public trust in the scientific process by supporting educational programs that pay you to participate.
Reason 6
You want to build an immutable and verifiable record of your personal impact on solutions to global challenges
How do we solve the tragedy of the commons? Or rather, how do you demonstrate that you are doing your part as a citizen of the world to combat the existential threats we face today, like climate change? A blockchain-based record of your scientific investments and research initiatives, enabled by DeSci funding and publishing platforms, provides a way to publicly quantify your contribution to human development. DeSci-native tools like Foresight Institute’s technology trees can then help to contextualize the impact of your contribution within a broader social landscape. This immutable record can serve as a badge of honor, affirming your individual efforts towards building a better world. That feels more valuable to me than some jpeg monkey.
Imagine if you could easily illustrate the influence that your contributions have had on solving today’s existential threats and express that impact to future generations.
Reason 7
You want to find purposefully built projects with real-world utility that are more resistant to bear market capitulation
There’s no denying that the entire crypto market is in a bit of a downturn, and whether you want to call this a full bear market or just a “healthy dip” is up to you. Regardless, many portfolios are hurting. It’s during these times that projects built on hype and ego tend to die, while projects with clear goals and an emphasis on execution and utility survive. Look to DeSci for the latter.
Imagine if you could diversify your investment portfolio with projects focused on tangible results and utility, instead of hype.
Reason 8
You want to finally justify your crypto interests to your cynical friends and family members
It becomes a lot easier to persuade the doubters in your life when you can tell them that your crypto interests are actually helping to solve climate change or to advance human longevity research. After all, I once convinced my mom to buy me a PlayStation 3 by telling her it could help cure cancer.
Imagine if your degenerate crypto habits could support regenerative economic systems that directly benefit all of humankind (cynics included).
If you find yourself frequently “imagining if”, then come explore what we’re working on at Impact Finance and contact us if you would like to get involved.
https://impact-finance.io
Disclaimer: Nothing in this article should be interpreted as financial advice — please do your own research.
*Cover photo by Andrew George on Unsplash
