The potential of crypto-economic tools in managing the risks associated with pharmaceutical research and development
Olga S. Stepchenkova, Cand. Sc. (Econ.), Associate Prof. of International Business Dept.
Saint Petersburg State University of Economics
Abstract
The article deals with the development and theoretical justification of a set of economic and mathematical models that ensure the risk management of decentralised research projects in the pharmaceutical industry using crypto-economic tools. The necessity of this development stems not only from the challenges posed by geopolitical instability and the obsolescence of the traditional “blockbuster” funding model in pharmaceutical corporations, but also from the development of highly specialised markets of medications for the treatment of rare diseases, research into longevity therapies, and the advancement of “long-tail science”, as well as new ways of organising research and development within the paradigm of decentralised science based on Web3 technologies. The study presents models that are unified by an endto- end risk management logic: from the assessment of management structure and human resource capacity, through fundamental valuation, to revenue distribution and protection against biomedical risks. The results obtained make it possible to establish threshold criteria for the management structure in scientific decentralised autonomous organisations (DAOs) and to formulate targeted recommendations for public authorities on improving the regulation of decentralised organisations.
Keywords: risk management; pharmaceutical industry; research and development; decentralised science; decentralised finance; DAOs; decentralisation index; science funding; research management; blockchain.
For citation: Stepchenkova O. S. The potential of crypto-economic tools in managing the risks associated with pharmaceutical research and development. Digital Models and Solutions. 2026. Vol. 5, no. 1, pp. 32–52. DOI: 10.29141/2949-477X-2026-5-1-3. EDN: IPLWGT.
