For decades, the global scientific community has struggled to gain traction as most innovators had to make their way through bureaucracy for their innovations to come to light.
Web2 and its social platform offered a fresh start to these innovators as they had a platform to directly reach an audience larger than ever before. However, there is still a major hurdle to conquer: getting their inventions and innovations funded for further development.
Of course, fundraiser websites such as KickStarter, Patreon, and Crowd.Science for scientists and inventors offer them a means to raise funds. Nevertheless, there is a myriad of downsides plaguing these platforms, starting with poor media exposure and discoverability of innovations, a lack of a loyal community, high commission fees, and proposal success rates at an all-time low dropping from 30.5% in 1997 to 18.3% in 2016 and continuing to plunge.
Some blockchain and crypto enthusiasts are of the opinion that such drawbacks and complications can be solved in the Web3 space.
Enter The Science DAO — A Decentralized Think Tank!