When people talk about intrinsic financial value, they often refer to the long lost Gold Standard. Still many people readily accept gold in exchange for real goods due to its rarity, immutability, financial liquidity, and more recently, its practical utility. However, gold is not easy to carry around on a day-to-day basis, so holders often write scripts representing gold, and trade those scripts as if they were the actual gold. This is the origin of modern money.
[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.]
How exactly did that gold get extracted from the ground?
Early Geologists and engineers figured out how to locate, extract, and purify gold for market. While gold may have limited use cases to support its intrinsicness, those same geological engineers can readily re-use their knowledge, or teach countless others, to extract any raw material such as copper, oil, iron, water, or even more gold. In fact, it was the alchemist attempting to synthesize gold that ultimately resulted in some of mankind’s greatest engineering and scientific achievements. While gold may have been a motivational factor, very few modern achievements are intrinsic to gold.
The Engineers of the Integrated Engineering Blockchain Consortium now ask, “What is more intrinsic: money, or the engineering through which money is delivered to markets?”
Bitcoin vs. QUANT
Today Bitcoin is often compared to gold also for its rarity, immutability, liquidity, utility, and social agreement that it possesses some form of intrinsic value. Where bankers once wrote scripts against gold, a recent rash of ICOs today are simply writing scripts against the Bitcoin, Ether, Bitshares or some other primary token. Similarly, the QUANT is the token upon which any number of scripts may be written to represent achievements of human ingenuity such as renewable energy, smart infrastructure, clean water and sustainable agriculture, distributed education – and every technological derivative thereafter. This makes sense.
The secret behind QUANT is that the utility of engineering exists only between the eyes and ears of each individual person. Our strategy is to represent the individual intellect and collective capabilities of all engineers in a decentralized manner that can be readily analyzed, accessed, and deployed by the financial sector, insurance companies, industry and the public in order to support the value that those institutions create.
Intangible is the New Tangible
The objective of the QUANT is to measure a new form of value into existence – the value that the current financial system cannot articulate. Where the social capital, creative capital, and intellectual capital intrinsic to our humanity were once called “intangibles”. In the QUANT ecosystem, we are the New Tangible.