As a researcher with years of experience navigating the labyrinthine world of academic publishing, I find Charles Hoskinson’s recent statements on Decentralized Science (DeSci) particularly resonant and exciting. Having spent countless hours toiling over manuscripts, only to see the majority of the profits reaped by publishers, the idea of a blockchain-based solution that addresses this discrepancy is nothing short of revolutionary.
Charles Hoskinson, founder of Cardano, recently highlighted a significant application of blockchain-based Decentralized Science (DeSci) on platform X. This comment on X was made as a reaction to an earlier post by Mushtaq Bilal, a renowned X user known for his academic writing skills.
Authors and reviewers at mercy of publishers
Bilal provided a breakdown of major academic publishers’ revenue and highlighted the payments given to authors and reviewers. Top academic publishers like Elsevier earn as much as $3.9 billion in revenue.
In simpler terms, Springer Nature, Wolters Kluwer, and Wiley generate annual revenues of approximately $2 billion, $1.6 billion, and $1.8 billion respectively. Bilal mentions that Taylor & Francis and Sage are the publishing companies with the smallest earnings, bringing in around $800 million and $500 million respectively.
Through the use of blockchain technology, Decentralized Science (DeSci) offers a solution to a significantly flawed scholarly review and publication process.
— Charles Hoskinson (@IOHK_Charles) October 8, 2024
As a dedicated crypto investor, I can’t help but feel disheartened by the fact that authors and reviewers, who do most of the heavy lifting in the world of academic publishing, don’t see a dime from the vast profits generated by these publishers. However, Charles Hoskinson has offered a glimmer of hope with the introduction of DeSci (Decentralized Science). He emphasizes that this innovative approach could bridge the gap in compensation, addressing the current flaws in the peer review and publishing system.
Significantly, the DeSci platform provides authors with a complimentary publishing service. It operates as an open-source, decentralized network that facilitates the sharing of scientific knowledge. This process happens through peer review and curation without obstacles such as paywalls or publication fees.
As a crypto investor, I find it particularly appealing that this platform harnesses the power of blockchain technology to tackle issues such as limited funding, restricted data sharing, publication difficulties, and lack of collaboration.
Cardano founder and recent endorsements
Hoskinson publicly acknowledged the service by suggesting this DeSci solution to Bilal.
Recently, he openly endorsed the Sui blockchain through a post that garnered approval from his followers. This endorsement was made as Sui became the pioneer in activating a safe substitute for the Border Gateway Protocol.
The layer-1 blockchain integrated SCION for network validators. The Cardano founder’s post recognizes the efforts of the Sui development team in just over a year since it launched.
Ultimately, his actions reflect his open-mindedness toward new blockchain solutions.
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2024-10-08 19:14