Hello Again. Thank you for your continued participation in the [Insurance] Engineering Blockchain Consortium. This, our third month, has been filled with strategic changes and definition on the following topics: Branding, Media Coverage, and a token pre-sale crowdfunding effort.
Many of you may notice our new branding and wondered why “insurance” is no longer included in our name. Please be assured that we are not forgetting about Insurance, rather, we are pushing on the engineering profession (#EngTech) to catch up with #FinTech and #InsurTech in the narrative on Blockchain technologies.
We are now called the Integrated Engineering Blockchain Consortium. We will retain all other branding including the IEBC.co website. In short, the mission will be to integrate the engineering professions around blockchain applications.
This change comes after a great deal of discussion with people in both insurance and engineering where we had initially found a significant convergence, we also found substantial divergence between the business vectors. The remaining synergies then appeared limited. From the same effort, however, we discovered significant opportunity to develop the nascent #EngTech movement.
Media Coverage: Engineering News-Record
One of our challenges is trying to get the engineering industry to see the potential for blockchain in the profession. The Engineering News-Record is one of the most influential news media for the profession. They published a very positive interview with me called: Blockchain and Engineering – A New Business Model? The link to that article can be found here: This is an excellent article because it does not go too deep into the topic, but tries to present the opportunities that may exist.
Initial Token Offering
As mentioned last month, we are building our capacity to hold an Initial Token Offering – an ITO is an increasingly popular way to raise seed funds by issuing a cryptographic token and a compelling business plan. Instead of just asking for donations like in a Kickstarter campaign, the issuing body offers digital tokens that would sustain value if the project is successful. This method also allows for micro-contributions as well as large donations. The formation of the technical team, legal team, and specifications for the token have been the dominant activities for this month.
American Society of Civil Engineers
The IEBC co-authored a business plan innovation contest with a member of the American Society of Civil Engineers. Project details can be found here. The business plan that we are recommending is called Quant: a crypto-currency for the engineering profession. Here is an article about Quant if you are interested. This is also the foundation of the ITO mentioned above.
Sponsorships and Fundraising
At some point in the near future we will begin an outreach program to sponsors of the IEBC. If you know of an engineering firm, tech company, insurance, or financial institution that may be willing to support IEBC, then please provide a referral. We will be prepared to accept sponsors through a partnership with a major west coast academic institution.
Well, a lot of things have happened and next month is spooling up to be as active as the rest. Please feel free to contact me directly if you have any questions or ideas. Thanks again for you letters and emails. I look forward to meeting as many people on the DL as possible, so please do connect with me.
Daniel R. Robles, PE