How Blockchain Can Help The Science Industry

By Staff Reporter

May 14, 2019 05:25 PM EDT

Blockchain is one of the most hotly-debated technologies to have emerged over the past few years, and proponents and critics of it continue to debate the merits of decentralized digital ledgers for the 21st century market. Despite all the focus that's been placed on blockchain recently, however, precious little has been said about the exciting ways that blockchain is helping the science industry.

Few technologies offer as much promise to scientist as blockchain; here's how blockchain's continued development can help the science industry uncover the secrets of tomorrow.

Scientist are already making use of blockchain

It's not some wild prediction that scientist will soon be using blockchain - there's already evidence that hard-working researchers around the world have tapped into the power of decentralized digital ledgers to make their jobs easier. There are a number of ways that blockchain can aid scientist, especially when it comes to securing their insightful research data and navigating the tumultuous world of publishing their work. As time goes on and blockchain continues to develop, we'll doubtlessly soon see more scientist turning to it for answers to their pressing problems.

There's already plenty of reason to believe that the technology which powered cryptocurrencies to new heights in the marketplace can also help scientist secure their scientific research from outside intruders. Scientist have already proposed that blockchain databases be created so that researchers around the world can upload their data to a secure location where it's easily accessible to those who need it. This proposal is similar to others spouted by blockchain proponents, namely those centered around disrupting the scientific publishing industry with a new, blockchain-based business model.

Currently, the cost of accessing academic journals and research databases can be exuberantly high.

This has the unfortunate consequence of bottlenecking information and keeping certain scientists out of the loop when in reality they should be learning about the newest developments in their field as they occur. Luckily, concrete ways to reinvent scientific publishing are beginning to garner discussion across the marketplace and academic world alike. As blockchain technology grows to become even more trusted and cheaper to employ, expect today's publishing behemoths to face a blockchain-fueled challenge to their monopoly over the academic publishing market.

Scientists will keep using blockchain to provide business innovations

Another surefire way that blockchain can help the broader science industry is by enabling scientists to provide impressive innovations to business owners, thereby securing a continued source of public interest and funding for their work. Blockchain-based startups that buy Bitcoin and applications are already disrupting a seriously large number of industries across the marketplace, not least among them being the healthcare and life sciences industries. Hospitals, healthcare providers, and others in the healthcare industry are already beginning to explore exciting new ways to leverage blockchain to build high integrity medical records systems where the info of patients is very secure.

Pharmaceutical companies will also find blockchain immensely useful when it comes to securing their lucrative secrets. Developing new drugs and medical treatments is incredibly expensive, and contemporary scientists who work for big pharma companies regularly find themselves confronted by the challenge of securing their work from competitors who are more than willing to stick their eyes where they don't belong. It's safe to say that the immensely secure nature of blockchain technology will continue to make it alluring to healthcare and life science professionals for the foreseeable future.

Blockchain will help scientists build the grid of the future

Finally, those hard-working tech wonks who are laboring to establish the electric grid of the future are also likely to find blockchain technology to be a helpful asset to their cause. Recent research has made it clear that contemporary energy companies and scientists are working hand in hand to create secure, tamper-proof energy grids by dabbling with blockchain technology. A systemic review of the challenges and opportunities posed by blockchain to the energy industry is worth a close review, as it thoroughly explains the decentralized energy markets we're likely to soon enjoy thanks to blockchain technology.

With energy and healthcare systems finding themselves disrupted by blockchain, it's of little surprise that many view this nascent technology with distrust. Anything that upsets the established status quo is sure to provoke ire, after all. Nonetheless, it's growing increasingly clear that blockchain technology will power through the criticism besetting it and continue to help scientists around the world as they work to provide innovative new solutions to the public.

While investors are going crazy about cryptocurrencies and news coverage surrounding blockchain focuses on the financial sector, don't forget about the drastic impact this technology is having on scientists everywhere. Many are quick to dismiss blockchain, but scientists and tech-savvy professionals everywhere are quickly realizing that blockchain is one of the most useful innovations to have appeared on the market in decades.

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