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Ex-Binance CEO Changpeng Zhao Eyes the Thriving Decentralized Science Sector

Algoine News
Summary:
Following his departure from Binance, Changpeng “CZ” Zhao expresses interest in decentralized science (DeSci), an emerging sector encompassing fields like biotech, financing, and data storage. Zhao's engagement could bring considerable attention and resources to DeSci, which represents a radical shift in traditional research models by decentralizing scientific study and funding. Reformed incentives in this decentralized system could lead to major leaps forward in underfunded areas of research, like longevity.
Following his stepping down as CEO of Binance, Changpeng “CZ” Zhao has hinted at his interest in the burgeoning decentralized science arena, dubbed DeSci. Off the back of a tweet on November 28, Zhao unveiled his curiosity in the DeSci domain and the possible implementation of digital currencies to further aid research in the biotech sphere. Last month, Binance settled a huge $4.3 billion legal agreement prompted by a U.S Department of Justice investigation. A stipulation of the settlement saw Zhao, personally paying $50 million to U.S. authorities and forfeiting his leadership role at Binance. Switching from the enduringly active helm of a leading cryptocurrency exchange to leisure is not likely the formfitting fit for Zhao, a workaholic entrepreneur. With abundant resources at his disposal, the dynamic world of DeSci presents one of the viable options for his next move. DeSci, a sector inclusive of decentralized autonomous organizations, biotech, publishing, financing, foundations, data storage, and others, promises enormous possibilities. OpSci, a research-driven autonomous community, speaks of DeSci's potential, indicating that the sector is still nascent and steadily gaining traction in the wider science world. DAOs are pivotal players in kindling DeSci's popularity. Over 20 DAOs are supporting the drive for advanced medical innovation. VitaDAO, a decentralized group bent on championing longevity research to enhance human life expectancy is one such platform. Alex Dobrin, a member of VitaDAO, highlights the different modus operandi DeSci offers, where anyone can contribute skills, capital and be rewarded tokens. Dobrin emphasizes the relevance of DeSci in overlooked sectors traditionally scorned or neglected. He pinpoints aging research and longevity biotech as prime examples where DeSci can come in handy. Organizations such as VitaDAO have the potential to shepherd biotech inventions away from the notorious "valley of death," a metaphorical space between an initial scientific discovery and the point where pharmaceutical companies or capitalists dare to invest. DeSci advocates champion its ability to decentralize science as a solution to the many flaws of the existing centralized medical profession. Tyler Golato, Molecule's co-founder, advocates for decentralized science as a solution to improving pharmaceutical and medical industries, improving governance, ownership, and consumer choice. DeSci can unite a multitude of contributors from various spectrum in medicine. Each contributor serves DeSci according to their abilities, with the shared goal of effecting enduring changes and providing otherwise underfunded research areas, necessary resources. If Zhao dives into DeSci, there are countless things the former Binance honcho could execute. Dobrin of VitaDAO sees the benefits of high-profile personalities like Zhao delving into DeSci and longevity, underscoring the shared goal of advancing science through decentralization, for the betterment of mankind.

Published At

12/7/2023 5:01:00 PM

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