Blockchain Technology and the Engineering Profession

Source: http://www.ingenesist.com/blockchain-technology-and-the-engineering-profession/

  • Professional Engineering Protocol (PE)
    • PE has acted as the trusted 3rd party to many banks, insurance, corporations, and the public.
    • Its purpose was to secure the public ledger of accounts related to physical infrastructure.
    • This is the node of assurance that lets the people know that it is reliable since it records the time and other information.
    • Each node is individually secured by education, experience, examinations and model law
    • Combinations of these nodes provide banks and insurance companies with assurance to execute transactions and payments between people
    • This is the reason why most of the data used by banks and insurance companies are involved in the professional engineering stamp
  • The Problem:
    • Cryptocurrencies such as Bitcoin were thought of to be useful for the black market industry.
    • People believe that money “must represent human productivity” because otherwise, people would not work hard enough in exchange for it
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