Investor Reviews ICO — Orvium an Open and Transparent Science Powered By Blockchain Nebo Follow May 3, 2018 · 5 min read

Orvium is the first open source and decentralized Platform for managing peer review scholarly publications’ life cycles and the associated data.

Current Market VS Orvium

Orvium is intended to eliminate existing market inefficiencies and to improve the quality and effectiveness of the scientific publication life cycle. The ultimate objective is for Orvium to be the leading publication platform for the research community while returning the benefits of science to society. Using blockchain technology and a decentralized storage approach will allow a public, fully traceable and trustworthy record of the publication process at a minimal cost. Furthermore, Orvium’s source code will be published under an open source license and driven by the community.

In 2015, there were an estimated 9 million active researchers. They published between 1.8 and 2 million articles per year, which produced more than 2.5 billion downloads from STM (Scientific, Technical and Medical) publishers’ websites. These numbers grow by 3 to 3.5% yearly and do not consider open access models which represent an important percentage. To give context on those numbers, 3 billion downloads is the total number of apps downloaded from iTunes Apple store during its first 3 years of existence. The current scientific publication industry is one of the most lucrative worldwide. In 2015, just the global STM publishing market was estimated to be $25 billion, and that just represents a portion of the market — libraries and universities worldwide are normally required to sign non-disclosure agreements (NDA) about the cost of their contracts with the publishers.

Competitive Analysis

Solutions — How does it work?

Orvium establishes a transparent, comprehensive and competitive business model which aligned with its ORV token to ensure a continued evolution of the platform while supporting global research. Orvium’s model and the ORV token introduce a fair cost distribution model to authors and research organizations, ensuring recognition for all participants, enabling journals to become viable and sustainable at a low cost.

User Registration and Identification

Any individual can create an account to access the system. Researchers will use ORCID (a non-proprietary alphanumeric code to uniquely identify scientific and other academic authors and contributors) as an authentication method. In order to prevent identity impersonation in the blockchain, researches should confirm their wallet ownership.

Manuscript Submission

Authors submit their manuscripts to Orvium, creating a public proof-of-existence and authorship which is stored in the blockchain. Orvium offers full traceability of the life-cycle therefore versioning is supported. At any moment, authors can submit new versions of the manuscript. At the moment of manuscript submission authors can stake a number of ORV tokens to encourage and challenge the community for peer reviews. The number of paid reviews and the number of ORV tokens staked for each review will be determined by the author. Depending on the current market price for reviews and other factors such as the expected quality of the reviews or time required, authors will decide on the quantity of ORV tokens to stake per review.