Orvium – building the gateway for a highly efficient, cost-effective and transparent distribution of scientific knowledge worldwide.
The Orvium team found an opportunity in revolutionizing the scientific publishing industry through utilizing the blockchain technology to its infrastructure. Their main goal – to become the leading publishing platform and provide solutions to the publishing industry’s current dilemmas. Let's take a closer look on how this new science-based platform works.
Issues Facing the Research Community
Not known to many, the scientific publishing industry has emerged as one of the most profitable industries. It was said that the top publishers were even able to surpass the profit margins of market giants Google, Amazon and Apple. And along with the industry’s massive growth, its private scientific publishing sector continue to face issues raised by the research community. Such issues include high publishing cost became inevitable, authors do not have full rights on their work, biased publication review and delays in publication. Although several initiatives were done in the past to combat these issues, none of them were successful in totally reshaping the system within the scientific publishing sector.
The Orvium Solution
Orvium formulated a solution to revolutionize the traditional publishing processes within the research community through combining the following technologies: Blockchain and Smart Contracts. All data such as reviews, authors, research documents will be stored in the blockchain and will be made publicly available for easy access for the entire community. With this new model powered by the smart contracts technology, all publications will be automated and a more transparent and fully-open process will be available for the public to take advantage. Decentralized Storage. A decentralized storage has been designed to be fully transparent, open to the public and highly secured. Cloud Computing. This technology will enable Orvium’s platform and services to be globally available, flexible and scalable. Higher efficiency in operations will be in place and will eliminate fixed costs on infrastructure. Big Data Analytics and Machine Learning Integration. Merging these technologies with the blockchain will enable the platform to make way for advance analyses that will enhance life cycle automation, expedite accurate peer review, discern trends and topics, identify and suggest correct keywords for manuscripts, and automatically identify the appropriate target field based on content and information from other publications. Custom Web Interface. Orvium’s user interface will provide a shared environment for writing and preparing manuscripts, locate article references and follow researchers and topics. To ensure accuracy on researchers and links on their works, the platform’s GUI will incorporate custom authentication and identity validation within the system. Public API. Orvium’s platform can be accessed through an open source public API.
Features and Benefits
- Favorable and sustainable operational costs.
- Transparent and credible peer reviews.
- Authors and research institutions will have full control over copyrights and licenses of their work.
- Zero-delay feature on publications. Manuscripts will be made available in the Orvium platform minutes after it has been uploaded.
- High quality peer reviews and reduced risk of rejection on manuscripts due to its multi-author review model.
- Token rewards and recognition for peer reviewers.
- Traceable full life cycle of every submissions, reviews, revisions, copyright and license alterations and more. Every entry uploaded and action made in the blockchain database will be visible to users.
- Decentralized journals will be available at a low cost to create and manage scientific journal.
ORV Token
ORV token is the utility token to fuel the entire Orvium ecosystem. ORV tokens will be exchanged between users (authors, reviewers, institutions, journal owners, readers etc.) when fulfilling tasks such as manuscript submission, payments for licenses, journal management, peer reviews and more.
Token ICO Details, Token Distribution and Funds Allocation
Token: ORV Platform: Ethereum Price: 1 ORV = 0.1 USD Hard Cap: 20,000,000 USD
The Verdict
The full decentralization of Orvium’s infrastructure will clearly give way to a fair, transparent and cost-effective publishing platform. If everything would go well as planned, this project may cause the group to be the primary blockchain-based scientific publication platform. Orvium’s project is an ambitious one and it will definitely be interesting to see how they will achieve an unbiased data organization. But we can all agree that the main selling point would be the reduction in fees – the overall savings that authors and institutions can take advantage. Another is the opportunity to earn token rewards from uploading data/manuscripts. And the fact that science research is a very broad industry and constantly changing, it can be projected that the platform will continuously grow and might eventually be the primary tool needed by many. With that being said, in the investors point of view – a continuously growing platform would bring growth to the investment and will bring in more revenues.