Orvium ICO Review: Disrupting Scientific Publishing Using Blockchain

This is one of Orvium’s most revolutionary features and is the one that may have the most capability to disrupt the existing scientific publishing industry. “Predatory practices within the scientific publishing industry place large costs upon the research community, leading to decreased output. The results of research can transform every industry and aspect of life – for example, scientific exploration and experimentation led to the World Wide Web, which vastly improved the way people communicate, work, and enjoy themselves, as well as transforming the global economy. The partnership will see Telehealth and Medicine Today (TMT), as the first journal to run on the new Orvium decentralized platform.

Researchers can earn ORV tokens from contributing to a journal, readers, providing research data access, conducting peer reviews, and for scientific patronage campaigns. “Blockchain is the perfect technology for bringing about the decentralization and increased transparency that the research publication industry desperately needs. Blockchain technology offers a unique opportunity to address key issues in the scientific academic publishing system such as lengthy review times and high costs. By offering reputational and economic rewards to peer reviewers, we can ensure that research is peer-reviewed and published more efficiently and at a fraction of the cost than is currently possible. This kind of shift in the approach to scientific research publishing will benefit not only the academic community by giving researchers more control over their work, but society at large.

Orvium reinvents the scientific publishing model by rewarding researchers who engage in the peer review process, which is the core process of validating scientific findings. This is a disruptive model that a blockchain-based solution offers; tokenization of rewards. Orvium establishes a decentralized, immutable and independent process that enables time-stamped proof-of-existence (POE), authorship and ownership for scientific content.

We were the first to partner with ARTiFACTS, and one of the first to partner with Code Ocean. The tokens will be used to underpin the infrastructure of the platform by providing a monetary exchange for publication, distribution, peer review, curation and other activities undertaken by users. Since the tokens will retain a value for utility, they will also be tradable by holders, issuers, banks and fund managers as well as others. The Orvium platform is still in beta, but it’s slated to launch into full release with all attendant capabilities in the next few months.

Not on Twitter? Sign up, tune into the things you care about, and get updates as they happen.

Scientific publishing is a massive globe-spanning industry that connects researchers, publishers and universities. According to Orvium, the market size last year was $3.2 billion and publishers see profit margins in excess of 36 percent. Just last year more than 9 million active researchers produced data and papers to be published in journals at more than 2.2 million articles per year, leading to 3 billion full-text downloads.

A serious issue in the scientific community is the publication model, where scientific authors are charged for publishing their academic journals instead of the traditional publishing model which pays content creators. This misalignment arises when the scientific community carries out peer review – a form of scientific validation required for scholarly publishing – for FREE, yet scientific publishers get paid billions annually.

Open & Transparent Science

The blockchain enables Orvium to keep a public trace of all activities relating to a given content, including first submission, revisions, accepted and rejected peer reviews, copyright and user license changes, among other activities. “In building the Orvium team, we knew that we only wanted to work with the best. Our advisors come from some of the world’s leading research institutions and companies, allowing us to capitalize upon the unparalleled expertise and industry experience brought by each of our team members. Orvium has also announced that it will be hosting a Token Generation Event (TGE) to facilitate the development of the decentralized platform later in 2018.

Orvium followed

Headquartered in Tallinn, Estonia, Orvium is a new open-source decentralized platform which aims to revolutionize the speed with which the academic review process takes place, incentivizing peer review on the blockchain through tokenized economic and reputational rewards. With a team drawn from CERN, NASA, Amazon, Oracle, and others, Orvium uses several cutting-edge technologies, including blockchain and artificial intelligence, to drastically reduce the long and often costly process of having research published by traditional publishing houses. The project aims to make scientific data more accessible while giving researchers more control over their work and distribution rights. Instead of just papers, participants can also use Orvium to create their own decentralized journals within the platform. This will allow authors to band together and create a more cost-effective publication model (as opposed to purchasing individual papers).

  • The project aims to make scientific data more accessible while giving researchers more control over their work and distribution rights.
  • Headquartered in Tallinn, Estonia, Orvium is a new open-source decentralized platform which aims to revolutionize the speed with which the academic review process takes place, incentivizing peer review on the blockchain through tokenized economic and reputational rewards.

orvium

After the registration process is done, authors can submit their manuscripts to the platform but what makes the process unique is that they can use ORV tokens (the platform’s official cryptocurrency) to encourage and incentivize peer reviews for their manuscript. Orvium is an open source and decentralized framework for managing scholarly publications’ life cycles and the associated data. Orvium improves the quality and effectiveness of scientific publishing while returning the benefits of science to the society.

Given the inefficiencies of the scientific publishing industry, Orvium’s solution is an innovative approach to disrupting not only the industry but effecting change towards the advancement of science through its inclusive nature. However, the tectonic challenges facing the industry coupled with its long-release date could be a source of concern for the short-term market. With a highly competent team and a distinguished line of advisors, Orvium looks to be a blockchain-based solution that has a good chance of carving a sizeable lead in this niche. The introduction of Decentralised Autonomous Journals looks to be an interesting innovation that combines the advancement of blockchain technology and the scientific publishing industry that badly requires a systemic overhaul. Equally important is their social platform mechanism that would foster great participation from the general public; this would advance scientific work in a variety of pressing issues surrounding humanity.

Orvium works to eliminate market inefficiencies and improve the quality and effectiveness of scientific publishing. The ultimate objective is for Orvium to be the leading publication platform for the research community while returning the benefits of science to the society. When authoring a paper, researchers can pay ORV tokens for peer reviews (by staking a certain amount of tokens when submitting a manuscript), market data, or research data rights.

By offering reputational and economic rewards to peer reviewers, this transparent and incentivised review process ensures that research may be peer reviewed and published more efficiently and at a fraction of the cost than is currently possible. This Orvium decentralization will unlock the full potential of a new, fair, transparent and competitive market controlled by the entire community, free of biased oligopolies and hidden interests.

They also have to pay tokens to authors to use their work or in exchange for market data. Orvium is a company that aims to overcome the problems of the scientific publishing industry by introducing a blockchain-based framework to manage scholarly publications effectively. Telehealth and Medicine Today, the first journal to run on the new Orvium decentralized platform“We are excited to partner with Orvium and explore what the future of academic journal publishing holds.

Orvium is the first open source and decentralized framework for managing scholarly publications’ life cycles and the associated data. Blockchain allows us to build infrastructures that enable open, trustworthy, decentralized, and collaborative environments. Using this technology, researchers can submit entries into public records of information and the scientific community can control how those records are amended and updated. Users of the platform and create and support these decentralized journals by contributing ORV tokens to them and by doing so, they will receive specific journal tokens which can be used to for things like selecting content or reward authors and reviewers.

Pursuant to openness and public accountability required for a credible peer review process, Orvium offers that and much more, enabling reviewers to have a full life cycle traceability of the journal via the blockchain. Having access to all the information since the inception allows reviewers to determine the validity and soundness of the scientific work. Anybody on the platform, without being an author or journal owner can spend ORV tokens in exchange for market data, creating or contributing to scientific patronage campaigns or for encouraging reviews of existing papers. Journal owners pay Orvium a fee in exchange for hosting their journal on the Orvium platform.

For Reviewers

Orvium is an open source and decentralized platform to manage and feature peer-reviewed, scholarly publications. Orvium aims to eliminate several inefficiencies pertaining to the scientific publishing model and enhance the quality and effectiveness of scientific journals. Orvium, headquartered in Tallinn, Estonia, developed its platform to use distributed ledger blockchain technology to provide infrastructure for incentivized peer review of scientific journals. All transactions — submissions of manuscripts, revisions, publications, peer reviews, patronage results and the like — would be recorded in a tamper-proof historical record that could be referenced to understand how a scientific article came to the state it’s in today. Orvium will use a number of cutting-edge technologies, including blockchain and artificial intelligence, to address current failures of the scientific publishing industry, including the long and often costly process of having research published by traditional scientific publishing houses.