Blockchain and Crypto Treasuries: Revolutionizing Decentralized Science

As biomedical and scientific companies increasingly adopt blockchain technology and cryptocurrency treasury strategies, they are transforming the traditional methods of research funding. These innovations aim to expedite the development of life-saving cures that may otherwise take decades to come to fruition.

Key Takeaways

Emerging Funding Models: Biomedical firms are utilizing crypto treasuries to streamline research funding and address traditional barriers.
Portage Biotech’s Shift: The company has transitioned to leverage Toncoin, generating revenue from staking and investing in ecosystem projects for cancer research.
Decentralization Focus: Leaders like AlphaTON's CEO Brittany Kaiser advocate for real-world asset tokenization to democratize scientific funding.
Prediction Markets: Startups like Ideosphere aim to foster early-stage research funding through prediction markets that enable collaboration and idea exchange.
AI in Research: Bio Protocol has secured significant funding to explore AI-driven scientific research and drug discovery.

Crypto treasuries and blockchain are paving the way for decentralized science

Revolutionizing Research Funding with Crypto

Portage Biotech is at the forefront of this transformation, having switched gears in September to focus on becoming a Toncoin treasury company. This strategic pivot has allowed the organization to earn operating revenues by staking Toncoin to secure the network while also investing in projects within the Telegram ecosystem—ranging from games to mini-applications.

Some of the profits generated from these operations will be directed towards funding cancer research, as explained by AlphaTON’s CEO, Brittany Kaiser, during her conversation with Cointelegraph.

Cryptocurrencies, Science, Companies Differences between traditional scientific research funding models and decentralized science structures. Source: Cointelegraph

Kaiser further mentioned that the company is investigating the tokenization of real-world assets (RWA) as a funding alternative. This approach could help decentralize scientific development and eliminate the financial hurdles often seen in traditional funding systems. She noted how biomedical research, functioning as an operational vertical, distinguishes Portage Biotech from other crypto treasury companies, which typically lack operational infrastructures.

“Most cryptocurrency treasury firms operate by taking over a firm and stripping it of its core business elements. However, in this case, the shell still retains valuable assets,” Anthony Scaramucci, strategic advisor to AlphaTON, remarked.

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Ideosphere: Predicting the Future of Research Funding

Ideosphere, a decentralized science startup, is innovatively approaching research funding through prediction markets. These platforms harness collective intelligence and voting to evaluate scientific ideas.

Cryptocurrencies, Science, Companies A mock-up example of what the Ideosphere prediction market would look like. Source: Ideosphere / Cointelegraph

Rei Jarram, co-founder and head of technology at Ideosphere, explained this concept to Cointelegraph: “By establishing prediction markets around early-stage research, we can create a marketplace for ideas that attract funding.” She added that researchers could propose hypotheses, which traders could then speculate on, distributing proceeds back to the researchers.

Bio Protocol: Funding AI in Drug Discovery

In another notable development, Bio Protocol—a decentralized science platform that integrates artificial intelligence, blockchain, and community involvement—secured $6.9 million in funding from Web3 firm Animoca Brands and the Maelstrom fund in September.

According to Arthur Hayes, founder of Maelstrom, the platform possesses the potential to evolve into a comprehensive “AI-native research market,” fundamentally altering how scientific research is conducted.

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