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Pump Science, the DeSci launch platform on Solana, issued a warning that the private key of its wallet T5j2U...jb8sc for creating URO and RIF tokens has been leaked because the developer left the private key of the wallet in the code base. The attacker used the address to…

$RIF DeSci and the Tokenization of Intellectual Property: Opportunities and Challenges (@Cryptosmith2✍️) The concept of decentralized science (DeSci) is transforming the way scientific research is conducted, shared, and funded. One of the most intriguing developments within DeSci is the tokenization of intellectual property (IP), which has the potential to radically change how scientific discoveries and innovations are managed and monetized. By leveraging blockchain technology, DeSci is creating new opportunities for the ownership, sharing, and trading of intellectual property, making it more accessible and transparent. However, alongside these opportunities, there are also significant challenges that need to be addressed. 1. Understanding Tokenization of Intellectual Property (IP) Tokenization refers to the process of converting an asset, such as intellectual property, into a digital token that is stored and tracked on a blockchain. In the context of DeSci, IP can be anything from research findings, patents, scientific papers, to datasets or even experimental methodologies. These digital tokens act as a representation of ownership or access rights to the underlying intellectual property, which can then be bought, sold, or traded on decentralized platforms. Smart Contracts: Blockchain-based smart contracts are used to automate the transfer of ownership and enforce the terms of IP usage. These contracts can specify conditions such as licensing fees, royalty payments, and other contractual obligations, ensuring that the rights of the IP owner are respected in a transparent and secure manner. Non-Fungible Tokens (NFTs): In the DeSci ecosystem, intellectual property is often tokenized as non-fungible tokens (NFTs). Unlike cryptocurrencies such as Bitcoin, NFTs are unique digital assets that represent specific IP, providing a secure and verifiable proof of ownership. NFTs make it easier for creators to claim ownership and for others to prove the authenticity of the work. 2. Opportunities for Tokenization in DeSci The tokenization of IP offers several compelling opportunities, especially in the context of scientific research and discovery: a. Decentralized Ownership and Control Tokenizing IP allows for the decentralized ownership of scientific discoveries and innovations. In traditional systems, the ownership of IP is often concentrated in the hands of large corporations, research institutions, or patent holders. DeSci's decentralized nature allows individual researchers or smaller entities to maintain control over their work, enabling them to retain more ownership of the IP they create. Empowering Researchers: Tokenization empowers individual scientists, researchers, or even small research teams to tokenize their findings and control how their work is distributed, shared, or monetized. Instead of relying on large publishers or patent-holding entities, researchers can retain direct ownership and earn royalties from their work. Global Reach: DeSci platforms are open to anyone globally, which makes it easier for researchers from developing regions or smaller institutions to engage with global markets and access funding. Tokenizing their IP opens new revenue streams that were previously unavailable under traditional IP frameworks. b. Creating New Funding Mechanisms One of the most transformative aspects of tokenizing IP in DeSci is its potential to create new funding mechanisms for scientific research. Traditionally, securing funding for research can be a lengthy and bureaucratic process, often requiring approval from government bodies or corporate sponsors. DeSci introduces tokenized crowdfunding as an alternative approach, allowing researchers to raise funds directly from the global community. Crowdfunding via Tokenized IP: Researchers can issue tokens that represent ownership stakes or access rights to their IP. These tokens can be sold to raise funds for further research, with backers receiving returns on their investment based on the success and commercialization of the IP. Royalty Distribution: Tokenization makes it easier to distribute royalties or revenue from IP to a global pool of stakeholders. Through smart contracts, researchers can automatically distribute payments to token holders, ensuring transparency and efficiency in the process. c. Improved Collaboration and Data Sharing Tokenization also enables more transparent and secure collaboration between researchers and institutions. IP tokenization allows for seamless sharing of research data, methodologies, and findings, while maintaining control over who can access and use the information. Verifiable Collaboration: Through tokenization, researchers can track who accessed their data, what was shared, and ensure that they are credited for their contributions. This can encourage greater collaboration and ensure that intellectual property is handled ethically. Incentivizing Data Sharing: Tokenized incentives, such as earning tokens for contributing valuable data or validating findings, can encourage researchers to share their work and data openly. This aligns with DeSci’s goal of promoting open-source science and accelerating the pace of discovery. 3. Challenges and Risks in Tokenizing IP While tokenization presents significant opportunities for DeSci, there are also important challenges and risks that need to be addressed: a. Legal and Regulatory Hurdles The legal landscape surrounding intellectual property rights is complex and varies by jurisdiction. Tokenizing IP raises several legal concerns, particularly around copyrights, patents, and trademarks. Most IP laws were designed before the advent of blockchain technology, making it unclear how these laws apply to tokenized assets. Ownership Confusion: One of the most significant challenges is determining who owns the tokenized IP. In the case of multiple researchers contributing to a project, disputes over token ownership or the percentage of ownership could arise. Without clear legal frameworks in place, the process of establishing and enforcing IP ownership on the blockchain could be contentious. Patent and Copyright Enforcement: Traditional IP protection mechanisms, such as patent filing and copyright registration, may not fully integrate with blockchain platforms. There may be challenges in enforcing these protections across borders, especially when dealing with decentralized networks that do not respect national borders. b. Technical Barriers and Adoption Challenges While blockchain technology offers a range of advantages, there are still technical challenges in terms of scalability, user adoption, and accessibility. Scalability: Tokenizing large volumes of scientific data or complex IP can create issues related to blockchain scalability, particularly on networks with high transaction costs or slow processing speeds. For blockchain to be effective in tokenizing IP, it needs to be able to handle the large data sets often associated with scientific research. User Education and Accessibility: Blockchain technology and tokenization can be intimidating for researchers who are not familiar with the digital asset space. User education will be critical for ensuring that DeSci platforms are accessible to researchers without deep technical knowledge. Simplified interfaces and user-friendly platforms are necessary to encourage adoption. c. Privacy and Security Concerns While blockchain ensures transparency and security, the privacy of certain research data may be compromised. For example, tokenizing IP related to clinical trials or proprietary scientific methods could expose sensitive information to the public. Data Privacy: Researchers will need to carefully consider what data they tokenize and share on the blockchain. Sensitive or confidential information may need to be kept off-chain, with only the relevant metadata or access rights tokenized on-chain. Smart Contract Vulnerabilities: While smart contracts provide automation and security, they are not immune to vulnerabilities. Bugs or loopholes in the code could lead to unintended consequences, such as the loss of IP ownership or unauthorized access to sensitive data. 4. The Future of Tokenized IP in DeSci The tokenization of intellectual property in the DeSci space holds tremendous potential to create a more open, transparent, and efficient scientific research environment. It can enable decentralized funding, encourage collaboration, and provide researchers with new ways to monetize and protect their work. However, the success of this model depends on addressing the legal, technical, and privacy challenges outlined above. As blockchain technology continues to evolve and legal frameworks around IP are updated to reflect the digital age, the tokenization of IP could become a central component of the DeSci ecosystem. Researchers, institutions, and investors will need to collaborate to develop standards and best practices that balance innovation with protection, ensuring that the benefits of tokenized IP can be fully realized while minimizing risks. (@Lucidious) DeSci's efforts to tokenize intellectual property offer a new frontier for scientific research, one that is more equitable, transparent, and accessible. With continued innovation and adaptation, tokenization could revolutionize how IP is handled in the scientific world, paving the way for a new era of decentralized, open-source scientific discovery. $RIF

Decentralized science is like early DeFi in 2019: Crypto VC $ASI Mechanism Capital’s Andrew Kang said DeSci protocols will likely change their existing models before evolving into more market-ready products. Decentralized science (DeSci) protocols are where decentralized finance (DeFi) was in 2019 — nascent and largely untested in the markets but filled with “massive potential,” an industry executive says. $BTC “Everything is still raw, experimental, but there’s an underlying understanding [...] that there is massive potential,” explained Andrew Kang, a founder and partner at crypto-focused venture capital firm Mechanism Capital, in a Nov. 24 post on X. Kang said the DeSci projects are still evolving and will likely change their model and products similar to how DeFi protocols Maker, Synthetix, and Aave did around 2019 before becoming much larger. The DeSci projects Kang has found most interesting are BIO Protocol, Pump Science and GLP1. BIO Protocol allows users to co-own “medicines of the future,” Pump Science’s platform allows trading of tokens tied to longevity medicines, and GLP1 aims to “Make America Skinny Again.” Kang disclosed that Mechanism Capital invested in BIO Protocol’s latest funding round. DeSci is a concept that utilizes blockchain technology and aspects of it, such as tokens, NFTs and decentralized autonomous organizations (DAOs) to incentivize community-driven scientific research and collaboration. it is looking to do everything from solving flaws in science’s peer review system and getting cheaper genetic tests to even curing baldness. DeSci is largely focused on pursuing truth via “citizen science” while rejecting institutional influences such as big pharma. The industry emerged from the COVID-19 pandemic as industry players looked for new and improved ways to fight off infection and disease. Related: Decentralized science can be the next big thing for blockchain utilization It could make data more accessible to researchers, healthcare professionals and their patients while leveraging the security and transparency benefits of blockchain. It comes as cybersecurity attacks in healthcare have become increasingly common in the digital age. Ransomware attacks on healthcare firms such as Kaiser and Welltok affected 13.4 million and 8.49 million individuals in separate incidents in the past 18 months — exposing sensitive personal and health-related information. DeSci currently boasts a $1.2 billion market cap, led by OriginTrail (TRAC) at $374.9 million, followed by Rifampicin (RIF) and VitaDAO (VITA) at $133.1 million and $124.7 million, according to CoinGecko.

Decentralized science is like early DeFi in 2019: Crypto VC $ASI Mechanism Capital’s Andrew Kang said DeSci protocols will likely change their existing models before evolving into more market-ready products. Decentralized science (DeSci) protocols are where decentralized finance (DeFi) was in 2019 — nascent and largely untested in the markets but filled with “massive potential,” an industry executive says. $BTC “Everything is still raw, experimental, but there’s an underlying understanding [...] that there is massive potential,” explained Andrew Kang, a founder and partner at crypto-focused venture capital firm Mechanism Capital, in a Nov. 24 post on X. Kang said the DeSci projects are still evolving and will likely change their model and products similar to how DeFi protocols Maker, Synthetix, and Aave did around 2019 before becoming much larger. The DeSci projects Kang has found most interesting are BIO Protocol, Pump Science and GLP1. BIO Protocol allows users to co-own “medicines of the future,” Pump Science’s platform allows trading of tokens tied to longevity medicines, and GLP1 aims to “Make America Skinny Again.” Kang disclosed that Mechanism Capital invested in BIO Protocol’s latest funding round. DeSci is a concept that utilizes blockchain technology and aspects of it, such as tokens, NFTs and decentralized autonomous organizations (DAOs) to incentivize community-driven scientific research and collaboration. it is looking to do everything from solving flaws in science’s peer review system and getting cheaper genetic tests to even curing baldness. DeSci is largely focused on pursuing truth via “citizen science” while rejecting institutional influences such as big pharma. The industry emerged from the COVID-19 pandemic as industry players looked for new and improved ways to fight off infection and disease. Related: Decentralized science can be the next big thing for blockchain utilization It could make data more accessible to researchers, healthcare professionals and their patients while leveraging the security and transparency benefits of blockchain. It comes as cybersecurity attacks in healthcare have become increasingly common in the digital age. Ransomware attacks on healthcare firms such as Kaiser and Welltok affected 13.4 million and 8.49 million individuals in separate incidents in the past 18 months — exposing sensitive personal and health-related information. DeSci currently boasts a $1.2 billion market cap, led by OriginTrail (TRAC) at $374.9 million, followed by Rifampicin (RIF) and VitaDAO (VITA) at $133.1 million and $124.7 million, according to CoinGecko.

Decentralized science is like early DeFi in 2019: Crypto VC $ASI Mechanism Capital’s Andrew Kang said DeSci protocols will likely change their existing models before evolving into more market-ready products. Decentralized science (DeSci) protocols are where decentralized finance (DeFi) was in 2019 — nascent and largely untested in the markets but filled with “massive potential,” an industry executive says. $BTC “Everything is still raw, experimental, but there’s an underlying understanding [...] that there is massive potential,” explained Andrew Kang, a founder and partner at crypto-focused venture capital firm Mechanism Capital, in a Nov. 24 post on X. Kang said the DeSci projects are still evolving and will likely change their model and products similar to how DeFi protocols Maker, Synthetix, and Aave did around 2019 before becoming much larger. The DeSci projects Kang has found most interesting are BIO Protocol, Pump Science and GLP1. BIO Protocol allows users to co-own “medicines of the future,” Pump Science’s platform allows trading of tokens tied to longevity medicines, and GLP1 aims to “Make America Skinny Again.” Kang disclosed that Mechanism Capital invested in BIO Protocol’s latest funding round. DeSci is a concept that utilizes blockchain technology and aspects of it, such as tokens, NFTs and decentralized autonomous organizations (DAOs) to incentivize community-driven scientific research and collaboration. it is looking to do everything from solving flaws in science’s peer review system and getting cheaper genetic tests to even curing baldness. DeSci is largely focused on pursuing truth via “citizen science” while rejecting institutional influences such as big pharma. The industry emerged from the COVID-19 pandemic as industry players looked for new and improved ways to fight off infection and disease. Related: Decentralized science can be the next big thing for blockchain utilization It could make data more accessible to researchers, healthcare professionals and their patients while leveraging the security and transparency benefits of blockchain. It comes as cybersecurity attacks in healthcare have become increasingly common in the digital age. Ransomware attacks on healthcare firms such as Kaiser and Welltok affected 13.4 million and 8.49 million individuals in separate incidents in the past 18 months — exposing sensitive personal and health-related information. DeSci currently boasts a $1.2 billion market cap, led by OriginTrail (TRAC) at $374.9 million, followed by Rifampicin (RIF) and VitaDAO (VITA) at $133.1 million and $124.7 million, according to CoinGecko.