Science DAO brings blockchain democracy to the science spectrum

The field of scientific research has suffered from a shortage of resources, organizational obstacles in data collection, as well as a lack of motivation, guidance and funds since its inception.

To combat these problems and launch mission-driven research to attract funding, expand networks and maximize results and impact, Joey Poareo, co-founder and developer of the decentralized incubator accelerator fund InuYasha, recently introduced a new initiative called Science DAO.

At its core, Science DAO is a blockchain-based decentralized autonomous organization (DAO) consisting of investors, innovators, think tanks and an expert advisory committee that seeks opportunities to incubate scientific / technology-oriented start-ups and accelerate their growth.

Science DAO is actively working towards the current structure of the funding system. There are no strict requirements for submitting a project for funding. Instead, any member of the organization can present their project to the community.

Once the project is presented, community members will vote for or against funding it. Voting rights are based on the ecosystem’s original token, THRY, which is available on UniSwap. Democracy and openness in the voting process can be achieved by leveraging blockchain technology, for both the Science DAO community and everyone within it.

Furthermore, to achieve its goals, Science DAO has a three-pillar approach that consists of contributions, community and education.

The core team of Science DAO, led by Poareo, is a culmination of decades of interdisciplinary experience across blockchain, finance and energy. Poareo itself has extensive experience that spans various industries, from healthcare to blockchain.

Apart from this team, which monitors the daily development of the platform, Science DAO’s advisory board consists of years of cumulative experience in various fields of science, technology, investment and entrepreneurship.

Mark Ashida, a consultant for Science DAO, noted the value Science DAO adds to the world of science and business by saying:

Science DAO gives everyone the unique opportunity to contribute to new emerging companies just like institutional venture capital firms.