NFTs and the Art of Drug Development
On this episode, our guest is economist Paul Kohlhaas, co-founder and CEO of Molecule and co-author of the VitaDAO whitepaper. We’ll head to Berlin, Germany, where Paul and his team of scientists, engineers, entrepreneurs and enthusiasts who are designing new ways to advance medicines. In Molecule’s case, they’re using tools not from the lab, but from the web; specifically web3 blockchain tokenized assets called non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs).
The team at Molecule are leveraging these new methods to tokenize the intellectual property and then coordinate, collaborate, and even fund the conduct of scientific research and development by putting the entire process onto a blockchain. And since the intellectual property (IP) asset is digitized onto a distributed ledger, or tokenized on a blockchain, it is then very straightforward for them to be bought, sold, traded, and outlicensed on private and even public marketplaces.
The decentralized ‘web3’ technologies that enable this functionality are incredibly new, but are by their nature designed and intended to private, efficient, and potentially more secure way to research, develop, and commercialize new medicines. Paul and the team at Molecule are working to democratize the process of new drug development down to the last little “i” in diligence. Is this the dawn of a brave new world? Listen to find out.
This is the TomorrowScale podcast. Hosted by Justin Briggs.
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The TomorrowScale Podcast was created to showcase scientists and entrepreneurs who are building science-based businesses, and to hear stories from the benches and in the trenches of research & development. The views expressed by the host and guests are their own, and the content of this show should not be considered legal, tax, or investing advice. Thanks to our guests for sharing their time and knowledge with us. Thank you for listening. Please science responsibly.