In earlier posts, I talked about two drivers for introducing the PeerScienceCoin (PSC); PSC will allow us to differentiate between paying and consuming parties and will also make Peerwith a more efficient marketplace. The last driver I wanted to talk about today is how PSC can be used as a Science token outside of the Peerwith platform.
Driver 3: acting as a Science token outside the Peerwith platform
More and more articles are published through the Open Access model, often accompanied by Article Processing Charges (APCs). This has resulted in authors, rather than libraries, carrying out financial transactions with publishers. This often leads to complicated administrative workflows as sometimes payments are done with private credit cards that then have to be reimbursed by faculties or funders. As earlier discussed, making payments online is challenging in some countries, including China. In general, the administration associated with these payments is cumbersome and PSC could solve these issues. Funders and faculties could provide researchers with PSC tokens, which would make APC payments by researchers much easier, more straightforward, and more efficient to administer.
PSC could also be used as a token given by publishers to researchers. A kind of gift card. For example, some publishers might want to reward researchers for certain services, such as performing peer review or being part of an editorial board. Or even taking part in a survey or completing a course. They could do this by giving them tokens, which researchers then use to purchase other services on Peerwith, or to pay Article Processing Charges (APCs). In this way, the PSC token could help in rewarding and recognizing researchers for carrying out many tasks that currently are currently not sufficiently addressed.
Overall, the case for a token for science is broader than just a more efficient marketplace for author services. This is the reason that many initiatives in blockchain that were announced recently (e.g. Scienceroot.com, Pluto.network and Orvium) contemplate the introduction of a science token. The big advantage of Peerwith over these platforms is that Peerwith is already handling many transactions on a daily basis. This could give the PSC token a good start in becoming an important token – on and outside the Peerwith platform!