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PRINCIPIA: a Decentralized Peer-Review Ecosystem

Peer review is a cornerstone of modern scientific endeavor. However, there is growing consensus that several limitations of the current peer review system, from lack of incentives to reviewers to lack of transparency, risks to undermine its benefits. Here, we introduce the PRINCIPIA (http://www.principia.network/) framework for peer-review of scientific outputs (e.g., papers, grant proposals or patents). The framework allows key players of the scientific ecosystem -- including existing publishing groups -- to create and manage peer-reviewed journals, by building a free market for reviews and publications. PRINCIPIA's referees are transparently rewarded according to their efforts and the quality of their reviews. PRINCIPIA also naturally allows to recognize the prestige of users and journals, with an intrinsic reputation system that does not depend on third-parties. PRINCIPIA re-balances the power between researchers and publishers, stimulates valuable assessments from referees, favors a fair competition between journals, and reduces the costs to access research output and to publish.