This is related to an idea I had mentioned on Steemit a few months ago about something I called eBIT, which you can find here: http://tinyurl.com/n2kgko6
In my spare time between college and writing books, I've managed to devote some time to figure out how this blockchain idea might work. I have published an informal whitepaper on my website http://tinyurl.com/ljwfvbe and on Medium http://tinyurl.com/lm53cjt for convenience purposes. I hope you enjoy what I have come up with!
Joel Hovell