CoEngineers.io — The End of Economics As We Know It

We hear many engineers lament that there is so much work to do but not enough money to pay for it. We hear engineering executives complain about competing with colleagues for commodity pricing. Everyone is asking, “where will the Uber of Engineering come from?”. Yet if you bring up the subject of Blockchain technology, most engineers are indifferent, scoff, or turn away.

What they may not realize is that Blockchain technology offers the engineering profession the ability to measure new value into existence — to figuratively “mine gold”. There is nothing to fear, except failure to understand the magnificent opportunity that presents itself uniquely to our profession and our society for this fleeting moment in history. But we must work together. If we don’t transform ourselves others will happily do it for us (that’s when we’ll all learn what commodity pricing is really all about).

In short, CoEngineers.io is a peer-to-peer publishing platform for engineers. At length, CoEngineers.io is a decentralized platform for measuring the true value of engineers in an economy, society, and environment. In all cases, CoEngineers.io is a haven for engineers; a place where engineers can find each other, where entrepreneurs can find engineers, and where the virtual world can find the physical world. CoEngineers.io is a platform for value creation.

CoEngineers.io uses blockchain technology in a unique way; to provide a time function upon which physical state of the world may be identified, curated, synchronized, and analyzed using advanced mathematical techniques. This means that engineers can measure their economic contribution directly in terms of risk eliminated from physical systems, instead of outdated economic metrics such as GDP or units of consumption.

This is significant because insurance and financial products also measure themselves in terms of risk. If the Engineers were to do the same, they could immediately plug directly into the quantitative and actuarial math of financial industries, and thus become a financial instrument in our own right. If we work together, we could have this in months, not years.

This throws everything about modern economics out the window. Ever since the days of Adam Smith and David Ricardo, factors of production have long been established as land, labor, and capital — more recently the “entrepreneur” was added as the fourth factor of production ostensibly as the arbiter of market risk. Today money is still largely defined in terms of consumption. In order to grow the economy, consumption must be increased — this makes it very difficult to address some of the most pressing needs that face societies such as sustainability and the preservation of limited resources.

However, the true arbiters are those who reduce systemic risk; bridges that don’t collapse, airplanes that don’t crash, renewable energy and agriculture, reliable transportation, supply chains, etc. Engineers deliver the intrinsic value that allows the virtual value of financial securities, insurance policies, and cryptocurrencies to exist. All financial securities are underwritten by physical collateral and insurance is defined by physical loss. Electricity can exist without Bitcoin, but Bitcoin can’t exist without electricity. All of these new “factors of production” are within the domain of engineering. We got this.

In 1958, Nobel Laureate Dr. Robert Solow presented findings that over 80% of economic growth could be attributed to technological change. He further suggests that this hidden value is being incorrectly attributed to allocations of land, labor, and capital instead of the engineers who innovate and remove risk from our physical systems.

What would happen if the primary money creation engine were to simply measure themselves differently? If engineers measured themselves in terms of risk instead of consumption, then priorities would shift regarding how and why engineering is allocated in society, not how and why land, labor or capital are allocated in society. Finding the money to pay for engineering is a trivial point — engineering is money.

This changes everything. Let that sink in. Now let’s get to work and build something amazing.

CoEngineers.io is a product of the Integrated Engineering Blockchain Consortium. Join our Discord Channel here: https://discord.gg/FS7Ceap