Crypto: ResearchHub raises $5 million to reward scientists

The startup ResearchHub, co-founded by Coinbase CEO Brian Armstrong, has just successfully closed a $5 million funding round. This funding round, led by Open Source Software Capital, has attracted the interest of renowned investors. ResearchHub aims to reward scientists with a crypto called ResearchCoin (RSC), to facilitate the sharing of scientific content.

ResearchHub raises $5 million

Scientific research, far too valuable to be buried behind paywalls, has been the subject of debate since the advent of blockchain. Indeed, open source technologies have already spread in many fields, and science is no exception.

Many voices have advocated for the democratization of science through blockchain and cryptos. Since last year, the Decentralized Task Force or DeSci has been working to combine Web 3 and blockchain to foster a true scientific revolution.

Yesterday, a startup named ResearchHub, co-founded by talented Coinbase CEO Brian Armstrong, managed to raise a whopping $5 million in a funding round.

To believe one article blog posted on their official website, Open Source Software Capital, a company specializing in supporting open source projects, is said to have orchestrated the operation.

Investors who participated in this round of financing include:

• Boost CV
• RedHat’s Bob Young
• Guillermo Rauch de Vercel
• Replit’s Amjad Masad
• Y Combinator’s Garry Tan

Thanks to this major financial support, ResearchHub will be able to develop its platform and extend its reach to a growing number of scientists around the world.

The democratization of scientific research thanks to the blockchain

ResearchHub works in a simple way. Researchers can publish their work on the platform and receive ResearchCoins in return, based on the perceived value of their content by the community.

But that’s not all ! This corner can also be used to reward other scientists for their work, be it peer reviews, answers to scientific questions or constructive feedback.

ResearchHub advocates a bold vision: scientific research should not be locked behind paid barriers. On the contrary, this startup encourages an open model, similar to that of open source software, promoting collaboration and the free dissemination of knowledge.

In a blog post, ResearchHub states: “ Our web application hosts a suite of publishing and collaboration tools that help researchers author new manuscripts and share them with the world”.

The long-term goal is to implement a reward structure based on the ResearchCoin cryptocurrency, to channel resources to the brightest minds in a reliable and evidence-based way.

In short, the fundraising of ResearchHub, led by the talented Brian Armstrong and his team, testifies to the growing enthusiasm for the democratization of science thanks to the blockchain and cryptos. This initiative paves the way for scientific research that is more open, collaborative and accessible to all.