This chapter describes how the individual transaction records, when combined, form a decentralized body of knowledge for a community. The Q-BOK is grown organically and serves as the standard reference index from which any number of predictions can be made.
[Note: QUANT is the cryptocurrency of the Integrated Engineering Blockchain Consortium (IEBC) with first issue and copyright on December 15, 2015 on the Bitshares blockchain and should not be confused with tokens of a similar name. QUANT is novel among digital tokens for representing value intrinsic to the ingenuity of people.]
Formation of the Q-BOK
Both Claimants and Validators in the QUANT ecosystem establish their stake by collaborating with each other and forming their personal network of claimants and validators. Each transaction establishes a single node with at least two direct branches – one from the claimant, and another from the validator(s). The network graph for a community of practice may be analyzed with common mathematical techniques – the same calculus used by Facebook Google, Twitter and many other data science applications.
The primary attributes of the Q-BOK
- Knowledge Assets connected by strong bonds
- Widespread generalized consensus that the Q-BOK is valid
- Anonymity until point of transaction
- Personal data ownership
- Decentralized referenced standard
Individual transaction records encode identity and object attributes entirely in the control of the owners. Like Craigslist the Q-BOK allows subscribers to see the data, but personal identities are only revealed when both parties agree to a transaction. Subscription are accessed using QUANT like an arcade token. Data integrity is assured by incentivized fault-tolerant behaviors through the creation and exchange of the QUANT token.
The Utility of Q-BOK data
Whereas Facebook may use a social graph to sell market influence, the QUANT ecosystem could be analyzed to extract critical predictive information required to produce useful technological outcomes from designing a bridge to allocating engineering resources across a natural disaster area.
- Public access of the Q-BOK would have similar utility as say, Wikipedia. Analytic access would allow corporations, government, and financial institutions to test scenarios related to economic growth and precise distribution of resources.
- The aggregate database may be observed for determining the surplus or deficit of specific knowledge assets on a project or in a community.
- Advanced mathematical techniques could discern innovation and wisdom of crowds.
- This data would be useful for economic development, finance, and insurance companies.
- Stakeholders would use their transaction records as a quasi-anonymous private key that may open and close smart contracts submitted to a blockchain.
- Individual transaction records may be superimposed on the aggregate transaction record to determine the likelihood that the community’s knowledge deficit matches the individual’s knowledge surplus.
- The claimant and the community are better able to assess true market value for the engineer and therefore, true market value of engineering products.
- This provides than with equal business intelligence as the market while also helping them determine the value at which they would sell their QUANT on open exchange.
You Can’t Make a Bet Without Odds
Game Mechanics: The QUANT ecosystem will deliver probabilities in numerical form for current and future events in the construction, manufacturing, finance, insurance, econometrics, social sciences, etc. A “Percentile Search Engine” may be developed that would provide predictive measures based on individual or collective transaction records in order to produce a numerical probability (p1) that a transaction will be successful. Low risk projects, say 99% probability of success, would cost more to acquire whereas a lower probability, say 60% would cost less to acquire. The entrepreneur may then add educational costs or training programs to make up the difference. These types of statics are typical of game play, and fantasy baseball leagues, and even professional sports franchises for allocating resources.