Longevity Science Foundation program will see donors using “LSF Points” to select projects for funding.
The Longevity Science Foundation – a Swiss nonprofit dedicated to advancing the healthy human lifespan – has announced today it will use blockchain technology in its funding selection process. To do so, the foundation has created LSF Points, which will be distributed to all foundation donors. These non-monetary tokens will empower donors to vote on which projects and proposals they believe should be funded by the foundation. All projects under consideration will first be chosen by the LSF Visionary Board for their technical soundness, impact and scientific quality.
Longevity.Technology: Digital tech has exploded over the last decade-and-a-half, or so, and blockchain has been one of the most disruptive elements, causing a radical rethink of how people interact and leverage financial and information services. Due to its independent verficiation processes, blockchain offers enormous levels of security and innovation, something that the LSF will now leverage. The LSF prides itself on its innovative governance approach, granting its donors voting rights and early innovation access opportunities in exchange for their contributions. This inclusive and holistic model for giving that ensures all donors have a say in the Foundation’s direction and funding decisions and organising this process by LSF Points will make it even more equitable.
“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 favourites among the applications,” Visionary Board chairman Evelyne Yehudit Bischof said. “This program will not only encourage donor involvement but will also help us achieve our mission of bringing more longevity-based solutions to a wider audience within the next five years.”
The LSF Points are not an investment instrument and do not possess any monetary value. The LSF does not sell or exchange LSF Points for any currency – they are strictly an instrument for internal decision-making and governance. However, in addition to votes, donors can use points to earn rewards such as NFTs commemorating contributions, consultations with longevity specialists, and early access to treatments. Point transfers and report security will be managed via smart contracts on an Ethereum-based public blockchain.
“We aim to maintain full transparency while reducing bureaucratic burden in the funding process,” Bischof said. “Every funding decision the foundation makes is fully auditable applying the new blockchain program, which guarantees transparency around LSF work.”
After receiving funding proposals, a team of longevity opinion leaders pre-vets and shortlists selected proposals and defines priority vectors to deliver a comprehensive set of funding targets. These are reviewed by donors who then execute their voting rights through their holding of LSF Points. Details of the process can be found on the website.
The foundation is focused on selecting and supporting projects in four major areas of longevity medicine and health tech: predictive diagnostics, therapeutics, personalised medicine and AI. The foundation is seeking to fund projects that can facilitate and accelerate significant progress in longevity medicine as soon as possible.