Driving Scientific Studies with Blockchain Technology

Asia Blockchain Review
January 21, 2020

Experts have suggested that blockchain technology can help drive scientific research in many areas by improving security, enhancing transparency, and addressing issues like intellectual property rights.

Utilizing Blockchain in the Science Domain

According to CryptoNewZ, blockchain technology has the potential to transform the way data is managed for scientific projects.

One of the key areas that could benefit from blockchain is transparency. With any research, the massive volume of data could be stored in a systematic and secure manner using distributed ledger technology. With the immutable characteristic of blockchain, the network can see changes made by users at any point during the project.

Blockchain also allows stakeholders to access information, which will in turn help boost research productivity.

Facilitating Research with Decentralized Ledger Technology 

Given the decentralized nature of blockchain technology, researchers can have more control over factors relating to their research using blockchain solutions such as smart contracts that are tamper-proof and intelligent contracts which can verify research output.

Moreover, as scientific research relies on large storage capacity machines, blockchain can help with the authorization process for research members who may need permission to input data and perform system maintenance.

Blockchain technology is also useful in keeping track of intellectual property rights. If research data is misused or commercialized without going through proper channels, stakeholders can be notified of the incident. 

However, while there are security mechanisms surrounding blockchain networks, the system can still be attacked by other parties mostly due to bugs in the system or missing security protocols.  

With all the ways that blockchain can benefit research projects, the science domain stands to gain in many areas by adopting blockchain technology.

Source: https://www.cryptonewsz.com

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Blockchain Enables Verification of COVID-19 Immunity
    Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

    November 21, 2020

    Illicit Cryptocurrency Activity: A Concern
    Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

    November 20, 2020

    IBM Using Blockchain to Help Businesses Reopen during COVID-19
    IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

    November 20, 2020

    Canadian Pacific Railway Collaborates with TradeLens
    Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

    November 19, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us