Patient-owned medicine - built on Ethereum

Did you know scientists currently spend ~80% of time applying for funding instead of doing actual scientific work?

Biggest bottleneck is in the early stages, in the range of $100 to $500k, which is referred to as the "valley of death" in academia.

In the profit-maxi pharma industry, drugs that cannot be "properly" monetized, often wont even get developed at all.

Ones that do, are likely to be overpriced.

😡 Extreme examples

For example, price of Insulin increased x12 since 1996 & 2019. Or worse, a case when price of an IP protected drug Daraprim was increased >50x from $13.50 to $750 PER PILL.

(A somewhat happy ending where the owner was sued for blocking competition, was fined $64.6m, served time in prison and was banned from the pharma industry for life.

Fun fact - its this absolute fucking piece of shit @MartinShkreli who is now known as a crypto scammer KOL)

🤑 Patient-funded medicine

Besides unlocking research funding, having patients as IP owners should lead to better pricing, as patients are not profit-driven and are more likely to be compassionate with fellow suferers.

If only there was a way for patients to pool capital and co-own intellectual property... Well, now there is!

There isn‘t a better capital formation mechanism than crypto, and there isn‘t a better way for collective ownership of intellectual property, than, again, crypto.

🤓 Solution

With a combination of legal contracts, smart contracts, and encrypted data stored in decentralized file storage, @vita_dao members pooled and voted on deploying over 2,000 ETH to research across 7 different DAOs, with additional 1,000 ETH raised by these new DAOs.

They are working on various specialized research areas including @psy_dao, @HairDAO_, @cryodao, neuroscience, and quantum biology.

Currently developing 5-6 new medicines - with two already on the market, one 2-3x more effective than previous treatment, both 100% owned on Ethereum.

👍 Conclusion

Wave of hype for DeSci was short lived, but there is real substance here.

Also VitaDAO & co. are far from the only DeSci project. Eg. there‘s these two about space missions @LunCoSim & @OfficialMoonDAO

What‘s your favorite DeSci project?