I'll soon be launching the world's first peer-reviewed blockchain-based blog.

Interesting. So will review happen publicly? In other words, the author posts a draft of the blog and solicits feedback. Or will review be done behind the scenes and then released alongside the final post?

all profits will be divided between the author, the reviewers and the editor

Nice! You could use Steem's beneficiaries feature to achieve the payout in a trust-minimizing fashion.

Posts will follow the rule that all data cited must be published openly, unless there are privacy or ethical implications that prevent doing so.

Most data will not be usable, if you adopt a rigorous definition of open. But I like this bold policy to see how the world of purely open data is maturing.