Token-curated registry (TCR) in a scholarly journal: blockchain meets invisible colleges

Abstract: In this paper, we propose a novel framework for a scholarly journal, a token-curated registry (TCR). This model originates in the field of blockchain and cryptoeconomics and is essentially a decentralized system where tokens (digital currency) are used to incentivize quality curation of information. TCR is an automated way to create lists of any kind where decisions (whether to include N or not) are made through voting that brings benefit or loss to voters. In an academic journal, TCR could act as a tool to introduce community-driven decisions on papers to be published, thus encouraging more active participation of authors and reviewers in editorial policy and elaborating the idea of a journal as a club. TCR could also provide a novel solution to the problems of editorial bias and the lack of rewards/incentives for reviewers. In the paper, we discuss core principles of TCR, its technological and cultural foundations, and finally analyze the risks and challenges it could bring to scholarly publishing.