At the event “How to Pinpoint the First DeSci Unicorn?” held on September 17, 2024, in Singapore during Token 2049, renowned tech leaders and investors gathered to discuss the future of decentralized science (DeSci). Led by Dr. Tuan Cao, founder of LIFE AI; Matthew Immerso, Head of New Investments at Blockchange Ventures, and Justin Kim, Head of Asia at Ava Labs from Ava Labs.

According to Dr. Tuan Cao, DeSci is emerging as one of the most disruptive fields of the next decade. Decentralized platforms not only ensure transparency, decentralization, and global collaboration in research but also unlock enormous opportunities in precision medicine and personalized healthcare based on genetic data.

“The potential of DeSci is tremendous, but why haven’t we seen any unicorns in this field yet? and would Asia be the birthplace of the first DeSci unicorn?” Dr. Tuan Cao posed this thought-provoking question to the panelists.

Matthew Immerso highlighted three key obstacles to the rise of a DeSci unicorn. First, the lifecycle of scientific businesses is significantly longer than in other industries, often measured in years. Second, DeSci projects handle sensitive data requiring strict quality standards, slowing their growth. Third, user engagement is a challenge due to the limited opportunities for users to interact with DeSci platforms.

Dr. Tuan Cao highlighted many existing projects primarily use crypto for fundraising, limiting the scope of DeSci. He expressed satisfaction in seeing projects like LIFE AI that focus on real technology, users, and partnerships to address pressing social needs.

Justin Kim emphasised the importance of technology readiness in DeSci. He noted that sensitive user data must be decentralized with clear permissions for access, transactions, and smart contract deployment.

Both Immerso and Kim acknowledged the pivotal role of founders who understand the scientific and healthcare challenges and are ready to implement Web 3.0 solutions. Kim noted Asia’s vast market potential, indicating that the region is primed for adopting new technologies in life sciences.

Dr. Tuan Cao showcased LIFE AI’s significant achievement in publishing the largest genetic study on autism in Southeast Asia, identifying 23 new autism-related variants while reducing study costs by 10x to 30x and ensuring data privacy and transparency.

Experts concurred that Asia has the potential to foster billion-dollar projects and reshape decentralized science globally.