coengineers.comProblem:  Many contractors say that their COGS (cost of goods sold) consumes 10-30% of their expenses. Obviously, this cost is passed on the customer.  Bidding can be made far more efficient with BidPool Adjudicated Smart Contract Gaming platform.

For example: 5 contractors may spend $10K bidding on a 1 million dollar project that only one will win. Further, each contractor may only win 1 out of 5 bids submitted. These losses are ultimately passed on to the market in increased cost, lack of industry collaboration, and influence peddling. As such, the cost of bidding is represented by the following relationship:

Cost of bidding = COGS multiplied by Number of Bidders

Adjudicated smart contract: Consider a process where a project owner and all 5 contractors (or more) each put a $10K promissory note into a blockchain  escrow account. An engineering firm such as Coengineers, PLLC will then perform a 3rd-party project definition report and Statement of Work that collects all relevant information that the contractors would need to bid on a job. All contractors are then invited to an electronic RFP.

Game Mechanics: Whoever wins the RFP pays (by escrow release) $10K to Coengineers, PLLC for the SOW report. The losers pay nothing. If the owner does not select a contractor, the owner then pays for the report and can use it to hold another contest in the future. These savings are ultimately wrapped into the discount of the projects according to the following relationship:

Cost of bidding = COGS divided by number of bidders

Aligned Incentives: Where there is no penalty for either winning or losing, the incentive to cheat is reduced. The Value Game realigns major incentives and the projects benefit from.

  • Improve matching of qualifications to the project
  • Improve quality and seriousness of owners (no “tire kickers”)
  • Eliminates bidding redundancy
  • Everyone bids “apples to apples”
  • Rewards collaboration and intangible assets
  • Reduces project variance (i.e., change orders)
  • Reduces marginal cost of additional bidders
  • Opens market to more bidders (prediction markets)
  • Increases transparency
  • Reduces project costs
  • Insulates conflict of interest
  • Resistant to corruption

Additional benefits:

A comprehensive project definition can be used for many purposes downstream:

  • Contractor RFI/RFP
  • Master Schedule
  • Bank Financing
  • Project Insurance
  • Statement of work
  • Contract language
  • Inspection compliance
  • Construction and Accounting Forensics

Scalability:

Future advancements in financial technologies such as the Blockchain protocol and Knowledge asset networks such as the Curiosumé protocol will allow BidPool to scale infinitely to many project types, markets, and jurisdictions.

Summary:

BidPool is a Value Game that reduces the cost of procurement, increasing project assurance, and realigning market incentives to reward high integrity and not reward low integrity. By introducing simple game mechanics and deploying modern financial and knowledge Asset technologies, BidPool may generalize procurement across markets and industries with direct lineage to the banking, insurance, and engineering sectors.

For more information contact Coengineers.com


Uber AirlinesAs the Uber/Lyft business model continues to hone its end-run around the heavily regulated taxi industry, many are now looking at the air transportation industry for vulnerability to Uberesque disruption. Enter Uber Airlines.

Long before social media, entrepreneurs have been trying to sell empty legs on private airplanes – almost 40% of all private jets fly empty as they return their pilots to base after dropping off their charge – and again for pick-up. Every few months I’d hear about some new start-up claiming to provide private jet service for the price of a commercial flight.  A few limited operations exist, but not many – and they can’t scale.

I spent about a decade in commercial aviation and later co-founded Social Flights, a jet-sharing service out of Nashville – we unsuccessfully tried to solve the same problem and learned a great deal in the process. I can say with great confidence that it is not possible to close the business case on Uber Airlines, YET.  A few more technologies need to be invented and maybe, just maybe, we’ll see an Uber Airlines achieve a scalable business model.

The aviation industry is heavily regulated by the Federal Aviation Administration. There are mountainous regulations pertaining every detail of the air transportation process; the aircraft, the crew, the passengers, weather, DHS, customs, scheduling, baggage, the airport, etc.  Aviation is many times more regulation dense than automobiles and the costs associated with air transportation are many times again higher than automobiles.   In order to make the economics work, an operator needs to be a commercial airline with scheduled service flying big jets between hub and spoke airports or they need to be a private on-demand charter operator. You can’t just stand on a street corner and hail Uber Airlines to anywhere.

There are three technologies that need to happen first:

  1. Next Generation Air Traffic Control. NextGen ATC refers to aircraft management technology that uses space-based GPS instead of ground-based radar to manage air traffic around airports. NG-ATC could literally light up 500 municipal airports and eventually up to 5000 small airports with all-weather service. Currently, only 30-40 major hubs can handle such operations.
  1. Curiosumé is a concept that we first developed at Social Flights, LLC for determining the probability that a certain number of people within a certain geographic area would all want to go to another geographic location within a certain window of time – and again in reverse, on the same day. The reason that we wanted to take this approach was an attempt to manage 5 sets of FAA regulations statistically instead trying to do so preemptively.
  1. Blockchain Technology would then provide the database technology which could handle all of the pilot qualifications, flight logs, aircraft maintenance logs, passenger manifest, inter-party payments, ground transportation, hotel reservations, etc. A set of rules and adjudicated contracts could be developed to manage the rest of the regulations.

With these technologies, we estimated that an Uber Airlines service would need a minimum of 2.5 million registered users located within 10 miles of 500 small NG-ATC airports (5000 per airport) in order to fill 6-8 seats on a private aircraft traveling in both directions to and from any one of the other 500 airports within an 8 hour period at least once per day. If this puzzle can be solved for small airplanes, it is only a matter of time before you could disintermediate large carriers as well.  That is how to solve this problem.


This Panel was formed at the Future of Money and Technology Summit in San Francisco on December 5, 2015 to unpack the issue of Identity verification on Blockchain.  One of the most powerful components of blockchain technology is the equal ability to disintermediate a person’s identity from their data, as to associate identity with a dataset. During this panel of experts, the lines were clearly formed around the notion of who “controls” identity and whether anonymity is considered as valid a form of identity in a transaction as full disclosure.

Dan Robles, PE – The Ingenesist Project (moderator),
Tim Swanson – R3
Paige Peterson – MaidSafe,
David Birch – Consult Hyperion,
Joyce Kim – Stellar.org

Background:

There can be no blockchain banking without verification of identity on blockchain.  While this may seem like an invasive requirement, it may also be considered a liberating requirement.  Billions of people are “unbanked” and cannot hold assets because there is no way to identify who owns what.  Where blockchain makes banking available to more people, so too must identity be verifiable among those people.

Even in the developed world, identity is deeply flawed.  Why would I need to show a driver’s license with address and driving record just to prove that I am old enough to buy a beer, or receive a senior’s discount at the movie theater?  Why can’t a person simply prove age, or prove driving ability, or prove residence, or identify any facet of trade without also revealing every other facet?  It is often such matters of identifications that can best secure privacy.

This brings to question who would maintain, manage, and / or control identifications.  Would it be a fully decentralized system or would it be a permissioned database system?  Would the identity institution be a bank or a private corporation, or a government or a decentralized organization?

Finally, what is the core objective of an identity system?  Will it project the ability to access something? Would it quantify and qualify the potential to produce something?  Does identity pertain equally to the object of commerce and the objective of commerce?   To what degree does the security of identity impact the durability of ownership?

Blockchain technology and those who seek to apply it are all encountering the identity issue.  From Banks trying to comply with KYC/AML to engineering societies trying to identify the right knowledge assets to solve a particular problem, the question of identity management is a paramount consideration.  These are exciting times because the subject is so new.  Please sit back and enjoy this rare opportunity for such a diverse panel of experts to drill into an important subject that impacts us all.

 

 


Introducing QuantWhat is Quant?

Quant is a digital token that represent human productivity. The total number of Quant that can be mined is 223.3 Trillion corresponding to the approximate dollar value of outstanding human productivity existing on December 15, 2015. This is the amount of future productivity that everyone in the world has committed to each other in the form of global debt obligations.

The flaw

What people may not fully understand is that human productivity is not stored in banks, corporate boardrooms, and governments – these institutions only maintain and control the ledger of future productivity, they are not the actual source of the productivity.

Rather, human productivity is stored and sourced in the combined education, experiences, talents, skills, health, community, passions, professions, careers, as well as works of engineering, artistic expression, and scientific achievements of humans. These are the actual stores and sources of human productivity.

Unfortunately for most people, it is very hard to see this distinction without a proper reference. Introducing Quant provides that reference unit of account.

Fixing the Flaw

Curiosumé represents a person’s talents, interests, and skills (i.e., future productivity) in a form of cryptography. In essence, fabricating smart keys that can open and close social contracts on blockchain. As a result, knowledge assets may become visible to an accounting system under the explicit control of the owner. Once built, Curiosumé will mine Quant from the “proofs-of-work” performed by real people solving real puzzles that maintain a real network. The Network will be able to allocate Quant using algorithms measuring fault tolerant network dynamics, thereby decentralizing production.

Building Curiosumé

The Ingenesist Project (TIP) has created the Quant Token on the Bitshares Blockchain.  TIP has issued to itself Q10,000,000 to be allocated to the development of Curiosumé.   All participants in the initial phase will be given a donation of Q100 per hour for helping build and disseminate Curiosumé to the public domain. Future levels, if founded, will re-value the earlier round on a ratio of 10:1

Introducing Quant as the internal token of the Curiosumé network will allow people to articulate knowledge assets in true decentralized corporations.

***

Disclaimer: Quant is not a currency nor is it meant to represent value or security in any entity.  Quant is akin to a game token where the challenge is to solve a puzzle to a public domain ledger. There will be leaderboards, level-ups, and player interaction similar to any role-play game. Quant may be sourced and sunk only within the intended open-source game that it portrays.  The whole “Global Debt” thing is part of the backstory, not some sort of political aspiration or commentary.  C’mon, this is supposed to be fun.  


zertify zillow zestimate on blockchain Big Problem with Zillow Zestimates:

Perhaps the best example of metadata being imposed upon an unwary public is the “Zillow Zestimate”.  Zillow.com is a real estate website that aggregates public information and boldly publishes the value of your personal property while quietly disclaiming that invalidity of their own valuation.  In all fairness, RedFin.com and Trulia.com also provide similarly structured valuations of your most valuable asset with no physical verification. The slightest misrepresentation could cost the homeowner tens of thousands of dollars for which there is absolutely no recourse.

According to Homevisor.com: if your house (or a house you are looking to buy) has a Zestimate of $300,000 – there is almost a 25% chance that the house will sell for less than $240,000 or more than $360,000. That is a pretty wide margin of error. 

There must be a way to Zertify Zilliow Zestimates on blockchain

Implications:

The result is that responsible homeowners who have conscientiously maintained and improved their property at great expense of time and money may be punished in a market while those who neglected their properties may be overly rewarded.  Neither the buyer nor the seller has any way of inspecting comparable homes used by Zillow.  This causes market distortion that affects the buyer, the seller, and the community at large.

Root Cause:

Zillow, Trulia, and RedFin all scan from public data sources.  The problem is that there is no trusted public ledger where owners can register valuable improvements and amenities that may dramatically impact the value – and which lower the risk of owning a particular property.  If such a trusted ledger did exist, it is certain that data scrapers such as Zillow, Trulia, and RedFin would be happy to scrape the data at no marginal cost.

Solution:

An organization such as the National Society of Professional Engineers has sufficient authority to provide a blockchain based ledger where a licensed professional engineer could physically review major components of a property including structural, plumbing, electrical, envelope, energy efficiency, HVAC, Solar Installations, mold, corrosion, critical slope, tree liabilities, view amenities, etc., and formulate an annual cost of ownership statement (ACOS) over a standard period of time.  The licensed engineer will register the ACOS, along with recent remodeling permits filed with the city, on the NSPE blockchain where it may be accessed by Zillow, Redfin, Trulia, MLS, banks, insurance, and the public, etc.

Value Proposition:

The ACOS and the Professional Engineering condition assessment could be provided to owners for a flat fee or subscription fee with a ROI greater than 10:1. This means that viability threshold for engineering assessment is defined as adding more than 10,000 dollars to the average sales price of the property for every 1000 dollars that the homeowner spends on the engineering report.  Owners that don’t meet this minimum threshold would not benefit from an ACOS and could not be listed on the NSPE Registry.

Size of market:

Assuming that there are about 100 million private homes in the US.  The percentage of under-valued homes that would benefit from a 10:1 PE registry are characterized at over +1 standard deviation on a bell curve distribution and higher.  This is roughly equivalent to 14% of 100 million, or approximately 14 million properties.  If each of those spends a minimum of  $1000 dollars for assessments, the value of the market would exceed $1.4B dollars. According to Homevisor.com estimates, the market would bear an engineering cost of $6000 yielding a $60,000 ROI, or roughly a $10B dollar market.

Conclusion:

Such a blockchain would safeguard the health and welfare of people and property while increasing  the visibility of professional engineers as a public financial institution with real financial impact.  The NSPE data would reduce volatility in banking and insurance ledgers so that pricing becomes more efficient. Real Estate professionals, renovation contractors, and real estate appraisers would also benefit from the registry by delivering the right product to the right client at the right time. It will increase the demand for a retail professional engineering sector to defend the technical best interest of society.  It will signal high integrity rather than low integrity to the preventive maintenance market.  Most importantly, the homeowners who maintain their property and those who will buy those properties benefit from fair market assessment of property values at a far greater utility than the typical point-of-sale home inspection.

Notes:

  • The ideas presented here are the sole creation of the author and not meant to reflect the intentions or interests of the National Society of Professional Engineers, Zillow, or any other referenced entity. 
  • Zertify takes its name from a portmanteau between the word certify and the statistical z-test https://en.wikipedia.org/wiki/Z-test

nspeThe National Society of Professional Engineers has formed a task force to research and review blockchain applications aimed at the banking and insurance sectors for applicability and impacts to the engineering profession.  The task force is made up of 8 visionary engineers from within the membership.  Daniel Robles, PE (this author) was appointed to lead the task force by the president of the NSPE and approved by the board of directors.

Today, Licensed Engineers serve an essential role in the economy as adjudicators to banking and insurance industry underwriting of our nation’s infrastructure, in effect, supporting the value of our currency.  The integrity of infrastructure is what supports the majority of assets on a corporate or municipal balance sheet. It is a natural progression that Professional Engineers would articulate their judgement in design, safety, process, and longevity of these critical assets on smart contracts in blockchain protocol.

For example; The design and construction process is comprised of a master contract and a long series of minor contracts.  Validations, inspections, compliance and defect assurance etc, can all be articulated as smart contracts on a project blockchain where the licensed professional engineer serves as an adjudicator to flip the switches that release payments, trigger insurance coverage, time stamp completion, or open the next contract in a series of work orders.

Further, Curiosumé is an application developed by The Ingenesist Project that converts a résumé into cryptography.  This may be used to fabricate smart keys to open and close smart contracts on a blockchain.  By decentralizing the adjudication process, moral hazard and negative incentives can be effectively eliminated from acquisition, commissioning, servicing, and maintenance of high value public and private assets.

There’s an old saying that “A fish does not have a word for water”. This is because water is so elemental in the life of a fish that they can’t even see it. The same can be said for public infrastructure.  We often take for granted the availability of clean water, warm buildings, and safe transportation that we do not often see it as a storage place for value.  In fact, infrastructure is the perfect store of value because without it, society is far less productive where, say, we had to ride a mule, grow our own food, or chop wood for heat, etc.  It is well observed that the value of a nation’s currency is directly proportional to the value of their infrastructure.

The Liquidity Crisis

Many people in the cryptocurrency space are coming to terms with the speculative nature of the current collection of crypto-coins.  They realize that a virtual asset cannot be represented as a physical asset without some intrinsic intermediary to store real value. Cryptocurrencies appear to solve part of the problem of transferring an asset, but suffer many new problems such as articulating quantity and quality of the asset. In essence, money must represent human productivity otherwise people would not be willing to work in exchange for it – this is the source of low mainstream adoption and poor liquidity of cryptocurrencies.  The social agreement required to form a true currency is, and will remain, elusive without intrinsic value.

The engineering profession is precisely the means by which that intrinsic conversion can be implemented. People need electricity, they need food, shelter, energy, schools, bridges, highways, and airplanes and are willing to convert their own productivity in producing these things in reciprocal exchange with others producing these things.  Blockchain transactions must be developed to represent stored value in infrastructure thereby holding intrinsic value from which supply, demand, and factors of production (markets) can behave as needed in a functional economy.

NSPE Launches FinTech Task Force

The NSPE task force is an extremely important step in bridging financial industries with the needs of people and society. This may be one of the most important developments coming out of the cryptocurrency domain since the Satoshi Genesis block one.


treesviewAs a member of the City of Edmonds Planning Board, I hear a lot about what the public wants and what they do not want from their local government.  As a seaside town, property values can be greatly impacted by water and mountain views.  As such, there is an incentive to remove trees blocking views.  In other parts of town, the urban forest is extremely beautiful and there is great incentive to preserve trees from high density developers. So what happens when a town wants to regulate trees?  In our case, it was NOT an Edmonds kind of day. Perhaps it’s time to try municipal governance on the blockchain. 

Problem:

Many municipalities are adopting laws which may restrict the cutting of trees on private property in response to factors such as canopy loss, erosion control, wildlife protection, urban forest management, development, view amenities, climate change, etc.; or to enhance tree cutting to make way for new development and associated tax dollars. However, most models for tree regulation are unpopular with their imposing fines, permit fees, high density development, and government regulation on private property. Yet, these fines and permit fees are required to fund a bloated top-heavy tree code in the first place!!

Proposal:

Incorporate cryptographic and/or block chain technology to create a web-based public ledger and tree inventory that everyone can see and anyone can audit. By adding simple gamification features, the tree code may become self-regulating as players interact with the game. This may minimize government involvement, except in the most exceptional circumstances.

Discussion:

Think of it like a huge public accounting ledger that everyone can see, but can only edit their own data.  Instead of accounting for money, the ledger accounts for trees.  The game starts when a property owner registers his or her own trees on the ledger.  The city will issue cryptocurrency based on the number of tree units the property owner claims. These tokens would go into an electronic wallet on a blockchain associated with the property parcel number.  Each year, the resident will be issued more tokens by the city as their trees grow – the value of the tokens is derived from climate data or LIDAR surveys.  Some years may increase token values, some years may decrease token value based on estimated growth rates.

When a person wants to cut down a tree, they need to spend tokens to do so. Ideally, A property owner would not cut down more than they can grow. If they don’t have enough tokens, then they need to buy them from adjoining neighbors who are also trying to grow more than they must lose. If trading is restricted to adjoining properties (not commoditized like carbon credits), then community actions must be agreed upon by neighbors to settle any difficult situations.

The city would rarely get involved except to peg the value of the tokens on climate data. Algorithms programmed into the public ledger would manage the token values and electronic wallet exchanges automatically.

Shifts incentives

This sounds innocent enough.  But in reality, it changes all of the incentives that we are now attempting to manage with convoluted linear rules and imposing government regulations on private property.

For example,

  • It rewards tree preservation.
  • It rewards early and active registration,
  • It is self-enforcing because neighbors have a vested interest, and the ledger is public.
  • It is self-governing because neighbors need to agree on price.
  • It is self-limiting – an area cannot get rapidly stripped without progressive costs.
  • If a developer tries to take out a lot of trees, the neighbors can make it very expensive to do so – or negotiate concessions, etc.
  • If an arborist is needed, then the business case exists to hire one.
  • The municipality is able to referee disputes and establish coin allocations based on canopy quota or weather conditions, etc.
  • It provides tree liability (or asset) disclosure at property sale.

Business case

Today, proposed tree code regulations expose the citizens to cutting fees as high as $1000 dollars per tree. Violations for unauthorized cutting can approach $3000 dollars per tree. This money is required to fund a tree department that may consist of up to 3 arborists (for a small seaside town in Washington state; pop. 50,000), a permit reviewer, an enforcement arm, and possible court challenges. It could cost a million dollars per year to have an effective tree code for a city under 100,000 people, or 10 dollars per person per year just to regulate.

A price point of 1 dollar per citizen per year would therefore not be an extraordinary amount of money for a city to resolve a difficult social problem with modern technology.   Several thousand small cities dot the American coastline making this a strong candidate for private entrepreneurial partnership simply to maintain and audit the public ledger.

Conclusion:

A new generation of web applications and cryptographic technologies would allow this activity to happen autonomously. No new labor is required. No regulators are needed, no special penalties or enforcement mechanisms are required.  The city can stay out of the private property tree business completely.

Technically, this is called a multi-agent algorithmic game on a decentralized autonomous platform.  The difference is that today, these things can be made to look and feel like a game that is fun to play – people may play it. How many other Municipal Governance functions can be self-governed on a blockchain such as motor vehicles, animal control, gun control, schools, parking, water rights, energy, executive power, or any intrinsically valuable shared community asset.

 


The following discussion related to Gun Control On The Blockchain is a thought-exercise only inspired by new and emerging technologies for decentralized self-governance and does not necessarily represent the opinion of the author. It is not intended to favor any single political position. it is not presented as a comprehensive solution to all scenarios. This article is intended to invite readers to imagine new approaches and constructs to resolve complex governance issues using blockchain technology on public ledgers.  

Gun Control On The BlockchainProblem: According to some sources, 280,000 Americans have died from guns in the last decade.  Even opponents of gun control acknowledge that there is a need to assure that a gun owner is qualified to operate each specific type of firearm that they possess. Even proponents of gun control acknowledge that registering a gun with a central authority (government, insurance, gun schools) constitutes a loss of civil liberty. Everyone knows that “blanket legislation” accomplishes little more than punishing a large number of responsible people in order to deter a relatively small number of irresponsible people.

Proposal: A person who seeks to acquire a gun may create an anonymous Curiosumé persona that includes their training, qualifications, mental health record, police record, and personal references from other qualified gun owners, etc. This anonymous information can then be encrypted and time stamped on a blockchain. Any changes in these conditions must be added to the persona by one-way edit.  The identity of the persona remains on a private key held by the owner.

Gun dealers would be able to sell the level of armament commensurate with the threshold of competence evident by a quasi-anonymous persona. In the event of a disputed gun discharge, the actual identity of the person and their gun becomes known, therefore, their private key can be revealed without loss of civil liberty.  If the gun owner’s persona is accurate, then they will be protected under the 2nd amendment and receive an isolated incident judgment.  If the person lied on their persona, they forfeit some protected under the 2nd amendment and receive broad penalty and liabilities.

Alternate: Gun Owner Insurance:

Without revealing identity, the gun owner’s Curiosumé persona may act as a proxy identity for the person. The proxy would then be assigned to a risk sharing cooperative pool based on similar Curiosumé personas of the other people in the pool. The gun owner would pay insurance premiums commensurate with their persona – i.e., corresponding to the correct risk pool of their persona. In the event of a claim, the identity is unencrypted and revealed. If the person cheated on their premiums, they would not be covered. If they were truthful, they would be covered for accidental discharge.

Discussion:

Disciplined and experienced owners will pay a trivial amount for gun insurance while beginners would pay substantially more. This is an incentive to become educated in the rules of firearm ownership. If an individual has demonstrated severe shortcoming of responsibility, judgment, or prior convictions, then they will be pooled with others possessing the similar characteristics. As such, their insurance would be exponentially more expensive, perhaps prohibitive. Therefore, they would need to pay more to own a gun and or complete a rehabilitation program.  The market will reach a new equilibrium of relative safety.

This type of arrangement applying a Curiosumé layer to a blockchain effectively preserves the identity of the gun owner while also providing essential data to a public ledger that may be assessed by gun dealers, gun trainers, insurance companies, mental health professionals, personal references, legislators, and the public at large.

Again, in the event of a shooting, the gun owner and their gun are discovered anyway, therefore privacy no longer exists. Only at that time may the public ledger be reviewed.  There is a negative incentive for all people in the chain of possession in a community to allow an unstable person to possess a gun.

In the event of a worst case scenario intended by our founding fathers requiring for a protection by a trained citizen militia, then the blockchain can be shut down until such civil order is restored.

The Curiosumé layer on a blockchain satisfies the 2nd amendment on all points while protecting the public by filtering incompetent owners without punishing competent owners through fair market forces.

***

 


From Wiktionary: INTRINSIC

Untitled

Nothing economic can happen until two or more people get together and build something useful.  In a global human network that is facing global constraints, the core function of the economy must be to find each other.  This is made extremely difficult by the existing “factors of production” that now classify and allocate your productivity and mine.  The true intrinsic value of money resides in the social, creative, and intellectual capacity of people who design, maintain, and support those factors of production.

Early cryptocurrencies solve only part of this problem by providing a indelible ledger and medium of exchange. But true money must store (represent) human productivity, otherwise people would not be willing to be productive in exchange for it. To reconcile these shortcomings, The Ingenesist Project (TIP) is building a new class of cryptocurrency with the defining characteristic of storing and exchanging social, creative, and intellectual value intrinsically, i.e., within the currency itself.

By integrating a Curiosumé layer with an efficient and robust blockchain backbone, people can exchange a currency that represents the intrinsic value of their own productivity in collaboration with that from their community.  Curiosumé converts the résumé into cryptography that allows people to control their own identity as “smart keys” where they can interact with each other using “smart contracts” on a “smart blockchain” such as Bitshares and others.

It is well known that the value of a nation’s currency is backed by the productivity of its citizens. The same is true for states, communities, and even individual persons. Money must have intrinsic value. There really is no way around this except by developing an Intrinsic Coin with these specific characteristics.  This already works on a small scale with community currencies and in co-ops. The challenge now is to scale broadly it to a point of voluntary generalized reciprocity.

Introducing Intrinsic Coin solves this problem by decentralizing productivity of a community prior to the exchange, not after.  This allows people to take control of their identities and the market place for their social, creative, and intellectual capital. From decentralizing so-called ‘human resources’, to putting a tollbooth on big data, to hedging debt instruments, the implications of an Intrinsic Coin are sweeping and vast.

There is no shortage of work that needs to be done, but there is increasingly scarce money to pay for it. There are abundant social, creative, and intellectual assets in people that are not articulated in any traditional accounting system.  If we can create that accounting system, we’ll be able to tap into a ground swell of hugely productive makers who are misallocated in their jobs and careers by the silos they are placed in … or excluded from.

People need a new form of money that they can trade among their selves which helps them find each other and represent their true unadulterated productivity. They need a decentralized ledger and a local exchange. This is where the promise of blockchain technology started. This is where Intrinsic Coin will serve.

The Ingenesist Project Team is comprised of multi-disciplinary experts in Engineering, Insurance, Banking, Philanthropy, and Blockchain Development. Interested partners and financial technology media are encouraged to contact the Ingenesist Project at http://www.ingenesist.com

References: Curiosumé – Reorganizing In the Era of Social Capitalism

 


Beginning with the failure of the NAFTA Mutual Recognition of Professional Engineers followed by an introduction to modern cryptocurrencies, this seminal presentation specifies a future where engineering knowledge represented by a virtual asset may store true intrinsic value.

This presentation was filmed at the 2015 National Society of Professional Engineers Annual Conference, Advanced Leadership Track, July 16, 2015 in Seattle Washington. Daniel Robles, PE, MIB is the founder of Coengineers, PLLC and The Ingenesist Project

Abstract

The Bitcoin Protocol And The Future Currency Impact On The Engineering Profession

In a Wall Street Journal essay, two authors wrote, “The digital currency known as bitcoin is only six years old, and many of its critics are already declaring it dead. But such dire predictions miss a far more important point: Whether bitcoin survives or not, the technology underlying it is here to stay.” This session will cover what digital currency means for the engineering profession.

“Decentralization” is a term being applied to platforms that use the Blockchain Protocol pioneered by Satoshi Nakamoto, the inventor of Bitcoin.  As a cryptographic currency, Bitcoin remains problematic.  However, as an algorithmic protocol, blockchain technology will enable society to cheaply perform common business processes that are now controlled by institutions such as banks, insurance companies, corporations, government, etc.  Today, rapidly emerging platforms are under development to bring “smart contracts” (algorithms based on blockchain technology) into the mainstream.  

An important and essential variant of smart contracts is called an “Adjudicated Smart Contract” that requires an independent 3rd party adjudicator that would “flip the switch” on algorithmic agreements in finance, insurance, and decisions of governance.  There is a staggering opportunity ahead for the engineering profession to position itself for the role of the adjudicator in a wide variety of important and high value transactions.  The caveat is that we too must change the way that we organize ourselves.   

This presentation, Decentralizing the Engineering Profession, begins with the failure of the NAFTA MRD followed by an introduction to blockchain technologies, and ending with specifications on how our profession can jump to the top of the value chain in the era of Social Capitalism – if, and only if, [the engineering profession] can choose to change.