First Platform That Offers Fair Compensation For The Researchers Behind The Scientific Publications

Which is the most profitable business/company in the world? I am pretty confident that most of you will upvote for Apple, Google, Amazon or any techie related business. But, I won’t get surprised at the answer because we are so immersed in a world with iPhones, PlayStations, Smartwatches etc., that we fail to think about anything outside the technology. However, lets’ not forget the most crucial field which is responsible for our living on this planet. Can you make a guess? It is SCIENCE. Yes. Without the never-ending research and developments made in the field of science, we cannot survive in this world.

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Do you know? Without science, the world wide web (WWW) would not have been born. Because, WWW is invented by Tim Berners Lee, while he was working in CERN (European Organization for Nuclear Research). It was initially developed to share the information between scientists who were located in several locations across the world. Today’s digital world will stop its rotation without the internet technology.

Let me tell you another example. Have you heard of someone named Elsevier? He was a prominent academic publisher in the 90’s. Many people predicted that he would be the first victim of internet’s evolution. But, as per the 2015 report, his annual turnover from publishing was close to 25 billion USD. And, his percentage of profit was much higher than the profit of Apple, Inc. The worldwide revenue in 2015 from STM (Scientific, Technical, and Medical) publications was more than the Top 5 IT companies in the world.

But, the traditional publication model works in such a way that the majority of the revenue goes to the publishers, but not to the authors and researchers because of its 3-step operating model given below:

1. Government allocates funds for the research projects
2. Project work is reviewed by volunteers who will receive the payment either from the government or the research institutes
3. Once the project gets completed, publishers sell that information back to the governments and research institutions.

In this model, the copyrights for the work is held by the publishers and not research institutes/authors. Over the past few years, this model is being replaced by an open access model where the studies will be published on the digital portal which can be accessed by anyone. Of course, the initial cost of publishing and distribution will be borne by the research institutes and publishers.

By taking the concept of open access, Orvium tries to utilise the blockchain technology to eliminate the hassles in scientific publishing and provide fair compensation to all the players in the industry. What is Orvium? It is a decentralised platform for managing the entire lifecycle of a publication and its associated data. Orvium’s blockchain based business model will try to solve the problems in the existing publication model as given below:

• High costs to access scientific results
• Lack of recognition for researchers/scientists
• Longer delays from submission to publication
• The link between research and data is not revealed

Read more at https://orvium.docsend.com/view/nvr6ywj

To implement the new business model, Orvium will be making use of its cryptocurrency named ORV tokens. The authors can stake few ORV tokens to encourage the community for making peer reviews. Once the reviews are accepted, the reviewers can claim the ORV tokens. Unlike the traditional model where the publishers hold the copyrights, Orvium allows the authors to decide about the license and copyrights for their work. Check out our Website, Telegram, ANN and Bounty Thread to learn more information about ORV tokens.