Is it a transportation device?
A perpetual motion machine?
A new way of collecting or using energy?
Will it exist in every home?
Will it affect our ways of living and thinking?

We don't know much about a new technology coming from famous inventor and entrepreneur Dean Kamen. We do know the invention is codenamed "IT" or "Ginger", and that unlike several of Kamen's other invented devices, it is not a medical technology. However, since Harvard Business School Press gave journalist Steve Kemper $250,000 for his book on IT, the media has been scouring the country, piecing together bits of information, trying to speculate what this technology might be.

What is IT?

To answer that question, many have looked at the inventor of IT himself. Kamen is a 49-year-old technology guru who dropped out of college in his 20s. He created the first drug infusion pump. Later, he created the first insulin pump. His most recent invention was called the iBot. It was an off-road wheelchair that can climb stairs, cover sand and gravel and can balance on two wheels. Recently, for his inventions, Kamen was awarded the National Medal of Technology.

Most of what we know comes from Kemper's proposal for his book on Kamen and his device. Kamen is keeping almost all details of his device secret in order to prevent potential hostile intervention from companies who might suffer from its release. Due to the secrecy, Kemper's agent and publisher remain unaware of IT's true nature. Nevertheless, he did give them something on which to base their decision.

The proposal made clear that IT was not a medical technology, so much of the speculation focuses on some kind of personal mobility-enhancing technology, perhaps a perpetual motion scooter or a personal hovercraft.

According to his proposal, he has spent a year and a half in close proximity to Kemper, his team of researchers at his research and development company, DEKA, and IT. In the proposal, Kemper recounts a meeting between Bezos, Doerr, Jobs and Kamen. Doerr calls Kamen a combination of Henry Ford and Thomas Edison. He adds that in his lifetime he wasn't sure he would ever see the development of anything else as important as the World Wide Web until he saw IT. Jobs believes the technology will be as significant as the PC.

At the private meeting, the four assembled two ITs in 10 minutes. To assemble the devices they used only screwdrivers, hex wrenches, a few cardboard boxes, and components that fit into a couple of large duffle bags. Something about the operation of the device made Bezos start laughing heartily, according to the report, indicating to some that the item either is inherently amusing, or is so brilliant in its simplicity that it's a wonder no one else ever thought of it.

According to one interpretation, the report indicates that there are two different models of IT, the Metro and the Pro. The Metro may possibly cost as little as $2,000, although the report hints that a family may wish to have more than one.

The problem with IT is that current policies may not allow for the technology. According to Kemper, "[IT is] likely to run afoul of existing regulations or inspire new ones." Bezos said, "[IT] is a product so revolutionary, you'll have no problem selling it. The question is, are people going to be allowed to use it?" It is likely that special meetings with city planners, regulators, legislators, large commercial companies and universities will be necessary to integrate IT into city, company and campus life.

The participants in that secret meeting continue to rave about IT. "If enough people see the machine you won’t have to convince them to architect cities around it. It’ll just happen," said Jobs. Doerr said he never thought he would see anything in his lifetime as important as the World Wide Web, until he saw IT. He also calls Kamen a combination of Henry Ford and Thomas Edison. However, they are not the only ones excited by the invention. IT investor, Credit Suisse Boston, expects that IT will make more money in its first year than any start-up in history. Furthermore, the investor projects that Kamen will be worth more in five years than Bill Gates.

Bob Metcalf, another inventor and a computer engineer who helped create the building blocks for the Internet, said, "I've seen it, and it is … more important than pantyhose and it's more important than the Internet."

According to Kamen, the core technology and its implementations will "have a big, broad impact not only on the social institutions, but on some billion-dollar old-line companies." He also says the invention will "profoundly affect our environment and the way people live worldwide. It will be an alternative to products that are dirty, expensive, sometimes dangerous and often frustrating, especially for people in the cities." Inside.com first broke the story, when a reporter there received an email containing the complete proposal. For a complete account of what we know about Ginger/IT, read the full MSNBC article.