The Longevity Science Foundation is a Swiss non-profit organization devoted to improving the human lifespan by funding research and development. The foundation announced it will use blockchain for its funding processes.
The Longevity Science Foundation has created LSF Points (non-monetary tokens) to distribute tokens among donors enabling them to vote on the projects for further funding.
“Beyond having a credible, strict, and transparent evaluation and selection process, the LSF wishes to accommodate a system for donors to also express their opinion and vote for their favorites among the applications,”
said Evelyne Yehudit Bischof, the Visionary Board chairman.
The program will encourage donors to become involved and help the foundation bring more longevity-based solutions to a wider audience within the next five years.
Many granting organizations currently lack transparency in their decision-making, leaving others uninformed. LSF prioritizes donor involvement in decision-making processes and seeks innovation in making funding decisions.
According to the Guiding Statement,
“The decision-making logic of the Foundation is designed to be fully donor-centric. The donors are empowered through the usage of LSF points, an internal voting-right mechanism with which funding decisions are carried out.”
LSF uses blockchain for the point system and governance, as well as to create an ecosystem that can accept cryptocurrency and fiat donations. The technology also maintains donors’ privacy and allows easier point transfers.
On The Flipside
- Blockchain is reforming the medical industry by providing transparency and facilitating the research process.