Introducing Knowbella Tech
Right now an estimated $4 trillion dollars of intellectual property is gathering dust in institutions around the globe.¹ This wealth of information lies dormant and orphan (“dorphan”), beyond the reach of scientists who could transform its latent potential into something greater. Among the hurdles facing this science is the academic publishing process which is lengthy and fraught with difficulty. As that science remains uncovered, buried and wasted, the loss is not only confined to science and the businesses growth it feeds, but humanity as a whole.
Imagine a world in which science was no longer conducted solely in institutional silos and that research had more opportunity to reach its full potential. Imagine a world in which science knew no more borders, and scientific cooperation became a truly global pursuit. What value could be placed on the key which opened that door?
Today that key is no longer an unknown. It exists right now and it is brought to you by Knowbella Tech.
What is Knowbella Tech?
Knowbella Tech is a Cincinnati-based business with a mission to help the scientific community reach its full potential. Through the Knowbella Platform scientists will be empowered and enabled to make their findings public far more quickly than through scientific journals. As a collaborative space which allows much faster publishing of scientific data Knowbella Tech will usher in a profound change in the way we view intellectual property.
Blockchain technology is what allows Knowbella Tech to decentralize the scientific process. At present a scientific endeavor stalls without grant funding and the support of monolithic entities. If a particular field of enquiry is deemed of no interest to the monolith it is starved of funding and withers away. Knowbella Tech not only provides an alternative means of rewarding scientists for their endeavours, but helps them to disseminate their knowledge and reach out to others within the scientific community.
Science need no longer be held to the whims of policy makers and political expediency, but can instead be measured on its worth and value to others. Knowbella Tech gives science an alternative channel of funding and publishing. Moreover, by crowdsourcing intellectual property to researchers and providing them with financial incentives, scientific collaboration is highly encouraged.
A Project to Trust
Knowbella Tech is among the first of a very new breed of initial coin offerings to seek Reg A+ status from the SEC. In this application Knowbella Tech will demonstrate the honesty and probity of their business to regulators. For those who do not already know the background to Reg A+, the plan is part of the Jumpstart Our Business Startups Act of 2012. This is known more commonly as the Jobs Act and was not implemented until March, 2016. Although this was a wide-ranging piece of legislation part of the idea behind it was to increase options for capital raising similar to an initial public offering. It was also designed to give non-accredited investors the opportunity to participate in offerings before IPOs.
An ICO or Initial Coin Offering, is a fundraising mechanism in which a startup sells their own tokens in exchange for Bitcoin or Ethereum. Although the Jobs Act legislation was not designed specifically for ICOs, it does make a great fit for the most ambitious and forthright of projects.
Since the Jobs Act did not account for ICOs, confusion in the U.S. regulatory landscape reigns. The SEC classifies tokens as securities, while the IRS classifies them as property. The CFTC says tokens are commodities, while FinCEN says tokens are money.
While many ICOs have ignored the potential legislative restrictions of initial coin offerings, Knowbella Tech takes the harder road to reduce risks, truly setting itself apart in the pursuit of legislative support.²
In regards to the rigorous Reg A+ application Mark Pohlkamp, CEO of Knowbella Tech explained: “We decided to go through the longer, more expensive, time-consuming and painful process of seeking an exemption.”
By seeking compliance and showing character from the outset Knowbella Tech will build confidence and avoid any nasty surprises from the SEC in the future. Knowbella Tech will conduct an ICO that is determined to be SEC-compliant.
A Proven Platform Technology
Knowbella Tech is based on proven technology thanks to a soft boot focused entirely on the therapeutics industry. The project dubbed Open Therapeutics has demonstrated that the technology and concept are viable and scientists are already collaborating successfully and crowdsourcing within these fields. Knowbella Tech takes this core model, expands upon it and reaches out to untapped fields of scientific inquiry.
Regarding the project, Rosemarie Truman, founder and CEO of the Center for Advancing Innovation said, “They have put together an incredible platform to advance inventions that could have a long-term impact on the world.”
Considering many ICOs have no working product at all during the funding stage, Knowbella Tech are already at the forefront of this area as in so many others.
Conclusion
Knowbella Tech and its ICO presents a clear, visionary idea to the benefit of human endeavor and business. It unlocks dorphan intellectual property and creates a new means of funding research. It will create a new scientific platform based on merit that rewards great research outside the traditional funding streams and facilitates a new degree of cross-border collaboration.
Lastly, it will be a true trailblazer for ICO funding pursuing a Reg A+ rating within the regulatory legislation of the SEC. For all these reasons and more, Knowbella Tech is one ICO you should definitely be keeping your eye on in the coming months.
Citations:
1. Hovis, Jeff. “‘Orphan’ Technologies…Leaving Four Trillion Dollars in Value on the Shelf”, ISPIM Innovation Insights, Product Genesis, April 2014
2. Zanki, Tom. “Startups Explore Reg+ Path for ICOs Amid SEC Scrutiny”, Law360, March 28, 2018.
