ABSTRACT
The value of scientific research is universally accepted and yet very difficult to measure on a broad scale. Blockchain stands to transform this value equation in several ways. A combination of monetary fractionalization, micro-tracking and longitudinal records has already been developed with cryptocurrency charity tracking, for example. Vannevar Bush’s “Science the Endless Frontier” in the 1950s captured the value of US federally funded research and development during World War II and successfully argued for that impact to be integrated into a peacetime effort to spur the economy and advance the science and engineering advancements to transform the country. Smart contracts are automated processes that can be coded into a blockchain protocol based on shared governance rules on how certain types of data are to be managed and processed. Blockchain application with smart contracts can be used for data management and first-line data analysis.
