Engineers Solving The World’s Most Complex Problems with Blockchain Technology
The IEBC is proposing several consequential projects that would be executed in the Engineering Blockchain and Quant ecosystem. The following use cases are are being developed by IEBC members and corporate affiliations to utilize the novel Quant project delivery method.
Decentralized Oracle Network. The majority of public blockchain applications use smart contracts that depend on oracles – third party conditions that trigger a smart contract payout. The utility of smart contracts is limited only by the variety of Oracles that can be relied upon and the physical conditions that they validate. For example, an energy related token would be contingent on engineers who create the power. A transportation related token would be contingent on the safety of roads and bridges. A real estate related token would be contingent on safe and well maintained structures. Bitcoin itself is only as valuable as the infrastructure that supports it. The question remains – who is going to decentralize the Oracles? This is the core function of QuantChain, to create a secure, incorruptible, and decentralized body of Oracles who are qualified to adjudicate any smart contract that interacts with the physical world.
Disaster relief and recovery. Professional Engineers are essential after large-scale disasters such as hurricanes, earthquakes, and floods where an immediate and comprehensive accounting of structural integrity of buildings, physical infrastructure and public hazards is required. Unfortunately, State Laws restrict the practice of Professional Engineering to only those registered in each state. Obtaining an additional state license may take over 30 days and cost several hundred dollars. Chronic shortage of licensed engineers results in delays, incomplete or scattered information, non-standard assessment, silos and pockets of data, or invalid observation by under qualified persons. Such baseline assessments are essential for the public, multiple government agencies, health care professionals, as well as insurance companies, financial institutions, supply chain and regional industry, etc. This blockchain application would relieve this condition in two ways: 1. Allow for engineers registered in other US jurisdictions to immediately receive temporary comity for the duration and scope of the disaster, 2. Result in the rapid compilation of a single comprehensive and standardized damage condition assessment for the entire event captured on an immutable record that could be used by all agencies for the purpose of delivering services, mitigating damage, or reducing crime, scams, and fraudulent claims.
Building Information Modeling (BIM 1); With Blockchain technology, BIM models have great potential to become massively networked ledgers of engineering information shared by multiple writers where separation of responsibility is provided, consensus is assured, and immutability is secure. Increasingly, BIM models and CRMS may merge to include logistics, sales, and financial data as well. Next, factor in Internet of Things, Artificial Intelligence, Augmented Reality, etc. and complexities of integrating them all would far exceed the ability for a centralized management system. Such scenarios may be textbook-perfect applications for blockchain technology.
Building Information Modeling (BIM 2).
In the near future, legacy hierarchical engineering firms will be pressured by upstarts to find greater efficiency by reorganizing to a network structure. However, the transition from Hierarchy to network is extremely difficult, risky, and in fact, few have been successful. BIM (and similar modeling systems) may provide a unique controlled environment for first-use of blockchain technology and associated networked structures to coexist within legacy organizations. An enormous use-case in it’s own right (see BIM 1), by introducing Blockchain in this fashion, legacy organizations may become reified across the enterprise in a planned transition to a fully enabled and networked engineering platform. Paper here.
Municipal Governance on Blockchain.
Many small and large cities regulate publicly owned resources such as trees, signs, parking, roadways, and even form-based zoning, etc. These regulations can often cost a great deal to enforce and may result in loss of public goodwill due to perceived government over-reach. We are developing a novel approach using a public ledger and multi-agent algorithmic game mechanics to help communities self-regulate shared public assets. This may ultimately be applicable to state and federal assets as well. Article here
Technical Staffing: Many companies from AECs to Aerospace experience strong business cycles which may result in periodic mass hiring and mass layoffs. During such cycles, permanent employees may be adversely impacted by the work load volatility while the broader communities may struggle with external economic shocks resulting from these swings. IEBC is developing a novel blockchain approach for decentralizing and validated pools of ‘liquid’ knowledge assets for rapid deployments, decreased volatility, and predictive allocation.
Next Generation of Engineers:
IEBC is partnering with proven on-line gaming company Enjin
who are developing a blockchain layer for engineering immersion mods in the popular MineCraft ecosystem. Many engineers cite legos as their favorite childhood toy. But today, computer games such as Minecraft are becoming increasingly sophisticated modeling and simulation exercises applicable to engineering. IEBC is interested in the ability to identify young modelers who demonstrate high engineering proclivity in order to develop the next generation of engineers. The blockchain allows users to create an indelible record of their play/build history that may be recognized by mentors, college applications, trade applications, and corporations who seek to identify and nurture future STEM talent. This will give IEBC potential network of 20M young engineers worldwide ultimately providing an early and continuous path to an engineering profession. Article here
Maintenance and Replacement insurance: IEBC is specifying a smart storage medium for future repair, maintenance, and replacement funding to be time-released by a novel insurance product programed by engineers and actuaries to reduces volatility in such expenditures and preserve economic value of real assets. The storage of value in infrastructure many be accounted as a function of true operational utility. Paper submission pending.
Real Estate Operating System:
You can’t have smart cities unless buildings have a “memory”. IEBC in association with Urban Logic, LLC are developing a project that aggregates all information from BIM models to sales, operations, maintenance and public records on an immutable decentralized database adjudicated by engineers for the purpose of valuation, insurability, and securitization of real assets. RE-OS would increase market efficiency and allow securities to mark-to-value instead of mark-to-market, thereby resolving a contributing factor of the 2008 financial meltdown. Article here
Internet of Things: IoT is a promising technology that calls for the placement of sensors on any number of real-world conditions as a means of collecting information and automating transactions. Unfortunately, sensors fail. Who is going to design, specify, locate, isolate, maintain, interpret, and replace billions of sensors? This is the domain of engineers. Fortunately, a sensor may be programed to send a micro payment back to a decentralized body of engineers who may validate and support the operation of critical sensors.
Artificial Intelligence: AI engines such as IBM Watson and others, demonstrate enormous potential for advanced data processing in critical technological fields such as health care, engineering, and transportation. The drawback is that the AI machine needs to be calibrated to a known set of experts. Only then can AI go forward to make predictive conclusions. To whom will society assign this tremendous responsibility to protect our most critical AI systems? IEBC proposes that our novel Engineering Knowledge Database could serve this purpose while also mining the currency Quant thereby amplifying the intrinsic value of the Quant.
Many contractors say that their COGS (cost of goods sold) consumes 10-30% of their expenses. Obviously, this cost is passed on the customer. Project bidding can be made far more efficient with BidPool Adjudicated Smart Contract Gaming platform. BidPool is a Value Game that reduces the cost of procurement, increases project assurance, and realigns market incentives to reward high individual integrity by introducing simple game mechanics on a blockchain ledger, and novel allocation of knowledge Asset. Article here
Public Gun Safety on Blockchain:
According to some sources, almost 280,000 Americans have died from guns in the last decade. Even opponents
of gun control acknowledge that there is a need to assure that a gun owner is qualified to operate each specific type of firearm that they possess. Even proponents
of gun control acknowledge that registering private information with a central authority (government, insurance, gun schools) constitutes a loss of civil liberty. This method uses blockchain technology to preserve 2nd Amendment rights and relative anonymity, while also creating an insurable condition for gun owners, incentivising proper qualifications, and preserving regulatory compliance. Article Here
Urban Forest Management on Blockchain: Many municipalities are adopting laws that restrict the cutting of trees on private property in response to factors such as canopy loss, erosion control, wildlife protection, urban forest management, development, view amenities, climate change, etc. However, most models for tree regulation are unpopular with their imposing fines, permit fees, high density development, and government regulation on private property owners. This blockchain technique allows communities to self manage private property with a tree token that is mined as trees grow and sunk as trees die.
Large Scale Carbon Sequestration.
Polypropylene (PPR) is often considered the scourge of landfills and environmentalists the world over for its ability remain inert for up to 10,000 years. Polypropylene however is making a strong entry as a water pipe material substituting for copper (Cu), for example. When comparing the environmental impact of producing PPR and Cu, polypropylene is safer, cheaper, and localized. PPR melts at very low temperature (300F PPR vs 1900F Cu) and can be recycled infinitely into any number of products from roadways to building materials to 3D printer stock and piping. If part of the World’s remaining petroleum endowment were converted to PPR, we would avoid enormous ecological consequences while providing many future generations with a renewable raw material for construction, piping, and manufacturing of any number of useful products. A blockchain application, would provide the economic incentive and accounting system to create this clean polypropylene industry. Article here
The Value Game (TVG) is a multi-agent algorithmic game that manufactures intangible value which can then be articulated by a digital token. The Value Game is formed from the intentional network consisting of a shared asset (school, bridge, land, water, etc.) and the strategic placement of diverse groups of people all of whom have in their best interest to preserve the asset rather than consume the asset. By holding the variable of tangible value constant, the intangible value can be measured into existence to form the basis of a social currency through the strategy of immutable transaction records. Applications may include supplementation of government services or where government services are not available.