The Empowerment of Engineers and Scientists
The Innovation Bank may be the most important advancement of the Post-Covid Era. The paper linked below may be the most important paper of our times.
The Innovation Bank was first described in a patent application in 2007 (pre-bitcoin). A current rendition was recently published by the ASME International Mechanical Engineering Congress and Exposition describing a method for equitably dealing with the immeasurable and compounding systemic risks that are currently engulfing global civilization. The impacts of Covid-19 are only a symptom of deeper systemic risks that must be confronted if humans are to continue to occupy a single lonely planet coasting across the infinite vastness of space.
It all starts with Money. Long live the Dollar, however, we also need to establish a supplemental currency that represents true human productivity. Our money must measure the true and proximate value that people create with their thoughts, actions, and words. In the age of Adam Smith, the consumption of land, labor, and capital were very easy to measure providing a convenient set of markers to define an economy. Today, the social, creative, and intellectual capital are the primary factors of production — the only problem is that they are difficult to measure, until now.
The title of this paper is;
The Innovation Bank; Blockchain Technology and the Decentralization of Engineering Professions
The Innovation Bank uses blockchain, game theory, and actuarial math (risk analysis) to create a system that can directly measure the economic contribution of Engineers and Scientists in an economy. If we can measure it, we can trade it and grow it. This is how we can “balance the books” between our tangible and intangible assets.
Again, this is an important paper. Please let me know if you have any questions, ideas or contributions to make to this project. Thank you.