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10 May 2021

The new digital, decentralized economy needs academic validation

The new digital, decentralized economy needs academic validation


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The new digital, decentralized economy needs academic validation.

There is just one crucial element missing: academic validation.

In 2018, the United States Securities and Exchange Commission taught gullible crypto investors a valuable lesson.

You would not put a vaccine into your arm that was developed by college dropouts who did not let experts in biochemistry and immunology verify their work.

Peer review is a key aspect of academic validation.

On the one hand, peer review is a crucial step in academic publishing, and it increases transparency, reliability and trust.

Working within a system of peer review and academic validation ensures continuity in innovation and knowledge generation.

Last but not least, peer review brings with itself a code of academic integrity and conduct.

Though not a perfect antidote to human errors or moral slip-ups, we can say the academic validation system has largely succeeded in keeping scientific development on a righteous path.

CEO Elizabeth Holmes and chief operating officer Ramesh “Sunny” Balwani charmed investors with rosy descriptions of technologies that their company never actually developed.

What the whole biotech industry learned from the Theranos debacle was the inherent value of peer review and the transparency and trust that come with it.

In a field that is fraught with complexity and high technology that very few truly understand, the peer review system is now a universally accepted gatekeeper?

Our current system would be unthinkable without sound academic processes with knowledge at its heart.

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