The Integrated Engineering Blockchain Consortium has existed in many forms over several decades. One such form published a patent application in 2006 with the full title:
This is the first description for the use case that would later become the Integrated Engineering Blockchain Consortium native chain application called CoEngineers.io. After nearly 12 years, the description of this business methods holds firm, albeit the means for achieving it has changed.
From the 2006 abstract:
The invention described is a novel business method and system for matching most worthy knowledge surplus with most worthy knowledge deficit. The rate of change of information in this system is defined as knowledge. The rate of change of knowledge in this system is defined as innovation. A method and system of conducting enterprise is specified where knowledge is formatted to behave like a financial instrument embodied in an Innovation Bank and enabled by computer technology. An Innovation Bank is comprised of multiple applications of a Unit Business Method, a Knowledge Inventory, and an open source Problem Solving Environment [Percentile Search Engine]. Each component is of specific formulation providing for integration of knowledge family elements. Enterprise is conducted through identification of knowledge surplus and deficit, creation, maintenance, accounting, analysis, exchange, and production of knowledge assets by an organization, society, and/or an individual. This business method therefore applies, involves, and advances the technological arts.
The unit business method described is comprised of 1unit of knowledge surplus and 1 unit of knowledge deficit that are matched probabilistically via a Percentile Search Engine. The primitive unit diagram looks like this:
The Unit Business Method may then be combined with other UBMs to form various constructs, or “Circuits”. Two UBMs wired in series models a progressive learning experience, exchange, capacity building, or knowledge asset development process:
Two UBMs wired in a parallel circuit represents the iterative process such as a high performance team of collaborating peers sharing and iterating in situ or based in a real life setting closely associated with R&D, Innovation, product improvement, design, and consensus building:
From these two circuits — parallel and series — any number of accessories may be introduced not unlike the real electrical circuits (neurological electrons) that produce real logic, real work, and computational outcomes in the intrinsic world.
The Innovation Bank arises from the cross-pollination of UBMs across many industries, professions, national boundaries, cultures, and every manner of silo that may currently constrain technology transfer. The work of the Innovation Bank may begin to resemble a financial bank in as much as generalized reciprocity of the UBMs may hypothecate as homogenous units of account.
In the following example, advances in composite materials may be actively transmitted across many industries for rapid development and iteration — far outpacing market forces and amplifying revenues.
Taken together UBMs may become integrated into a network format and generalized in an open exchange. Remember, this was written in 2006 predating Bitcoin and even Facebook. The efficiencies of a “neural network” were cited in the patent application:
The idea behind this network arrangement is like an amplification circuit where a very small input may be amplified to an enormous output with generalized predictability. This would be an improvement over the randomized market driven approach of externalized risk, expensive competition, regulatory friction, and inefficient production.
Due to the predictability of the Innovation Bank, that is, a known input creates a known, stable, and predictable output, a new class of financial instruments may be formed called an Innovation Bond. This money could then be allocated to the network BEFORE the innovation happens. Today, innovation happens like drips from a faucet where only a few puny little innovations survive the vengeful VC markets at a time, unrelated and irrelevant. For example, it took composites 25 years to go from aircraft to automobiles.
Innovation and Debt have a lot in common:
Keep in mind that Innovation and Debt have a lot in common, each is a promise of future productivity made by one human to another. The Innovation bank, in effect, would measure, store, preserve and retain an enormous amount of value not unlike financial banks do so with debt. When you have two financial instruments backed by the same underlying asset (future productivity) they would be instantly and frictionlessly convertible. In other words, all funds being sunk into debt can be just as profitably sunk into innovation — returning a direct ROI instead of a circumstantial ROI.
For anyone following IEBC and CoEngineers, you can assume that we are developing a much more sophisticated version of what we described as an innovation bank 12 years ago. Today we have modern tools such as a blockchain adapted to the role of the Percentile Search Engine and two cryptographic tokens to memorialize UBMs. At the end of the day, weather you are measuring innovation or debt — ALL value aggregated in ALL markets can only be accessed through the intrinsic motivations of people. Capturing this value begins with the Unit Business Method — matching knowledge surplus to knowledge deficit.
For more information please visit the following websites:
https://iebc.co Integrated Engineering Blockchain Consortium
https://coengineers.io CoEngineers — the first blockchain developed by engineers for engineers
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