Can Blockchain Reduce The Cost Of Scientific Journals

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Like technology, science is also an evergreen industry because some research & development is always going on. Thanks to the scientists & researchers for their remarkable inventions to make our lives more comfortable and sophisticated than ever. Every scientific research will go through the following phases listed below.

1. Idea: Discover new ideas to start the research project

2. Funding: Collect funds from government/ research institutes

3. Research: Conduct the actual research

4. Results: Publish the results

The third and fourth phases are significant from the rest of two because of the extensive work was done by the researchers, authors, reviewers, and publishers. Before the research results are published, it will have to pass the most crucial process called Peer review. Usually, peer review involves a group of experts in the related field of research who will be given an unbiased review after an extensive analysis of the research results. Mostly, the reviewers will remain anonymous to get high-quality feedback. Either the government or research institutes will take the responsibility of paying the salary for these reviewers. Once this review is completed, the publishers will get hold of the results as well as the copyright for the work.

So, the existing publication model is beneficial only for the publishers and not for the authors, scientists or research institutes. But, it is essential to recognise the work done by the researchers. Right? That’s precisely the objective of the blockchain based platform named Orvium. The main objectives of Orvium are given below:

• Create a fair business model for the benefit of science
• Recognize the hard work of the researchers by offering them fair compensation
• Maximizing scientific validation and collaboration
• Making science more transparent and open than ever before
• Reduce the cost of publishing scientific journals
• Improve the transparency of the publishing process

To achieve the above goals, Orvium will utilise the most advanced technologies like cloud computing, artificial intelligence and the blockchain technology which forms the core technology of the Orvium platform.

How does Orvium work? Orvium will provide a decentralised framework for managing the entire lifecycle of the scientific publications from idea generation to publishing the results. It will be easier to trace all the data related to the publication of submitted reports, revisions, peer reviews, copyright & licensing etc. because the information is stored on the blockchain ledger. Also, Orvium allows the authors to decide on the licensing and copyright issues related to the work. Sounds Interesting? Read more at Website, Telegram, ANN and Bounty Thread.

To implement the above efficient & unbiased business model, Orvium will be utilising the ORV tokens. These tokens will be used as the primary payment option of the platform which will be sold by the company during its token sale event. ORV tokens will make sure that all the participants of the publishing industry are getting fair compensation for their valuable contribution to the world of science. Check out https://orvium.io/ to learn more information about ORV tokens.