Updating Science: How the DeSci Movement Can Combat Junk Science and Treat Baldness

Decentralized science (DeSci) is shaking up the world of scientific research by introducing blockchain and crypto to the mix. According to Joshua Bate, the founder of DeSci World, this new field is a much-needed update to traditional science, which has been bogged down by issues like gatekept data, regulatory capture, and corporate greed.

This innovative approach can be seen as an extension of the open science movement, where researchers share data and publish open research. However, DeSci takes it a step further by creating new funding models, making research more accessible, decreasing costs, and sparking interest in overlooked areas of science.

One of the key innovations coming out of DeSci is the intellectual property non-fungible token (IP NFT), pioneered by Molecule. This allows researchers to monetize their work through crowdfunding, with backers receiving a share of the intellectual property. This could lead to an increase in scientific replication and funding for studies that may have been overlooked by traditional science.

Several projects, including HairDAO, are already diving into fringe science topics, such as finding a cure for baldness. Andrew Bakst, co-founder of HairDAO, noted that traditional funding for cosmetic conditions like hair loss is lacking, making it difficult to attract high-quality researchers. Through DeSci, research becomes more accessible, allowing a broader range of individuals to contribute valuable insights.

DeSci also aims to improve the way research is published and reviewed by utilizing blockchain technology. Projects like ResearchCoin incentivize peer review and offer alternative publishing options that don’t come with hefty fees. By decentralizing publishing and funding, DeSci aims to create a more inclusive and transparent scientific community.

While DeSci is still in its early stages and faces challenges in terms of industry reputation and adoption, the potential for groundbreaking scientific advancements is vast. By leveraging blockchain technology, DeSci is paving the way for a more accessible, collaborative, and innovative future for science.