DAOs Revolutionize Underfunded Scientific Research

Nature recently published an editorial in its Nature Bioscience section praising the use of decentralized autonomous organizations (DAOs) as a revolutionary new way for researchers in underfunded scientific fields to create communities around their work and raise otherwise unattainable funding.

In a DAO-based research model, the same decentralized governance body can oversee a project’s organization, fundraising, feedback, and discovery-to-product/industry pipeline.

According to the Nature article, the general workflow would also be streamlined relative to the current state of affairs: Funding for scientific endeavors can vary considerably.

During boom and bust periods, research into areas such as artificial intelligence (AI) and quantum computing may receive huge boosts from big tech, government, and follow-on investors.

whereas sectors that were previously well-funded, such as longevity, or those that have been traditionally underfunded, such as women’s health issues, may find it increasingly difficult to secure funding.

DAOs are constructed using blockchain technology. This enables them to operate on a transparent and decentralized digital ledger that is not controlled by a single entity or institution.

This implies that project funding and community interaction can be democratized in the scientific community.

Traditionally, those scientists working at or with the most prestigious major universities in countries with high GDPs, government institutions and contractors, large tech and big pharma companies not only receive the most funding but also have access to the most potential funding.

Important distinction because the “brain drain” associated with emigration is exacerbated as scientists abandon regions with less funding to pursue research in wealthier regions.

And because DAOs do not have to inherently respect borders (though legalities surrounding their operation can vary by location), they can be governed by the needs and desires of the scientists conducting the research rather than the country, university, or company funding the research.

The editorial staff of Nature concludes that DAOs have the potential to become a crucial platform for underfunded researchers, but adoption will require additional education.

“Part of this challenge is convincing prospective members that the DAO is more than just a funding organization,” the staff writes. “The DAO is also a community of individuals who are passionate about supporting a specific scientific cause.”