The Integrated Engineering Blockchain Consortium Newsletter – January 2018
2017 was a big year for The Integrated Engineering Blockchain Consortium. The IEBC is committed to producing a blockchain application and associated cryptocurrency of undisputable intrinsic value representing the true productivity of engineers, makers, and creators across the globe. The key to this objective is a strong, unified, and multi-disciplinary global engineering adjudication force. The IEBC is among the most concrete, peer reviewed, and best researched blockchain business methods and worthy of your valuable time and attention.
IEBC formed from the 2015-2016 FinTech task force for the National Society of Professional Engineers. The IEBC has since authored the NSPE Blockchain Whitepaper, The NAIC Bulletin, and CIPR Webinar and spoken at numerous conferences. IEBC has been honored by the ASCE Grand Challenge initiative and the Best Start-up by the Future of Money and Technology Summit in Silicon Valley. IEBC has been featured in Blockchain media, ENR magazine, Arup Blockchain Technology Report, IBM Internal Webinar with IBM Data CTO, Risk Round-up, Contructrr Podcast, and many other publications and networks. Our advisory board is exemplary.
Most Important, over the last year, the IEBC network evaluated over 20 “Moon shot” use-cases for blockchain technology in the EngTech domain from which to launch our utility token ICO. Our goal was to identify the single highest impact application which was within our practical expertise, would solve real-world problems, liberate enormous value, scale magnificently, best utilize the QuantChain specifications, and enable the rise of more moon shots. This evaluation involved engaging with industry, professional societies, regulatory institutions, and academia to understand pain points, pent-up demand, and untapped capacity – nationally and internationally. We found many unexpected constraints as well as remarkable opportunities. This was truly an extraordinary effort by the advisory team.
IEBC announces our 2018 strategy: 20 Billion Dollar ICO
The first use-case for the IEBC blockchain initiative is a New-To-The-World innovation that is uniquely feasible with blockchain technology. This use-case is based on a mathematical theory, which postulates that maintenance of capital assets, on a sufficiently large and integrated scale, may be treated as insurable events. The benefits of this use-case include greatly enhanced sustainability of capital assets, increased market efficiency, reduced financial volatility, liberation of resources, safety health and welfare of people and property, and increased liquidity of asset value. Capital Assets include buildings, machinery, factories, infrastructure, and the worldwide built environment upon which global society depends for economic stability. We expect to patent heavily to our network in the domain.
The research for the use-case was initiated by IEBC Executive Member, Thomas Wendling, PE of Jacobs Engineering Group, and includes IEBC Founder Dan Robles, PE, and incorporates the work of Bruce Cahan from Stanford University, among others. The blockchain implementation for this invention would yield a cryptographic token to store and articulate true engineering value, incentivise the population of a shared database, and securely disintermediate management, administration, and technical responsibilities. Further, this implementation fulfills the stringent conditions for legacy insurability and finance and engineering regulations.
Whitepapers: The draft whitepaper on this use-case may be found here. The published article in Variance Journal found here. The QuantChain specifications may be found here: QuantChain Whitepaper. This implementation has the greatest potential to scale magnificently as it expands to the most other engineering specific use-cases that we envision. Amazon started with books, IEBC will start with Assurance (Insurance).
Objective: Integrate the Worldwide network of engineering professionals for the adjudication of contracts in the built environment.
Value proposition: On a sufficiently large scale, maintenance, renovation, and replacement of capital assets may be treated as insurable events to optimize the consumption of scarce energy, labor and materials used in manufacturing, operation, and recovery. Increased market efficiency, favorable financing terms, increased asset liquidity and the net cost of delivering sustainable infrastructure may be measurably reduced by around 25% worldwide constituting a multi-trillion dollar annual savings.”
Phase 1: (0-3 months) Raise $250,000 – $500,000 for following
- Operating expenses for Seattle office
- Establish legal entities
- Formalize vesting partnerships
- Formalize non-vesting Institution
- File provisional patents
- Marketing / Pre-ICO
Phase 2: (3-6 months) Continue raise to $2.5M, or as needed for:
- Expand Phase 1
- Worldwide ICO
- Patents and trademarks
- Marketing / Public Relations
- Additional Partnerships
- Legal: Exemption or Reg A
Phase 3: (6-48 months) required raise $20 Billion Dollars.
- Build QuantChain native application
- Build Comprehensive Engineering Body of Knowledge
- Develop Engineering Smart Contracts
- Develop Worldwide engineering adjudication network and protocols
- Develop insurance and financial products
- Patents and Legal – Worldwide
- Add moon shots
- Initial Launch Partners hold most favorable token position
- Initial Launch Partners will hold most favorable access to intellectual property and business intelligence
- Initial Launch Partners participate in core research and use-case development
- Non-vesting Partners hold favorable research and licensing positions
Discussion: According to Nobel laureate Robert Solow, every dollar spent on technological change may be attributed to 4 dollars in economic growth thereby establishing a rational and intrinsic basis of exchange for engineering attributes. Infrastructure maintenance, renovation, and replacement are a multi-trillion dollar worldwide industry upon which modern civilization wholly depends. The consumption of a majority of the world’s natural resources is ultimately allocated to this activity. The human productivity that constitutes fair and stable economy is contingent on the sustainability of this essential capital asset class. The Integrated Engineering Blockchain Consortium is the only blockchain project that can address the entirety of these requirements and implication.
(This website is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any token, cryptocurrency, or security. All information stated here is subject to change without notice)