***** Introduction*******
ARCS is the native token of AIre. It can be held in wallets that support the ERC-20 token standard and be traded on exchanges
which list ARCS. It will fluctuate according to market conditions.
ARCS is mainly used for the following purposes:
Many internet users feel uncomfortable when providing personal data to services due to the recent public knowledge of large
corporations misusing personal data. AIre incentivizes users for the information they provide, which is expected to lower
resistance to storing personal data.
The token economy is designed to expand the ecosystem organically since participants will receive unique benefits from using
the ARCS token as opposed to fiat currencies. The core value of AIre is the data which the data banks hold and ARCS is the
global network currency which data buyers can use to buy data with.
Below is a demonstration of the ARCS token flow:
1.Users input data into the AIre data bank and receive ARCS as a reward;
2.Companies who wish to acquire data from the data bank will first buy ARCS from an exchange;
3.Companies can then buy data from a data bank with ARCS. At the same time, users will be rewarded for their data and IFA
will collect a commission fee for delivering the service;
4.Companies can utilize the data for their services and offer it to AIre users in return for ARCS.
*Future development*
ARCS is the native token of AIre. It can be held in wallets that support the ERC-20 token standard and be traded on exchanges which list ARCS.It will fluctuate according to market conditions. ARCS is mainly used for the following purposes:
Personal information is a different asset class to cryptocurrencies. Implementation of DID standards can facilitate personal
data linked to an ID and build comprehensive identity profiles. Digital IDs with blockchain solutions give users self-sovereignty
over their data and make it easier to prove one’s identity and authorize others to access it.
********Lending and funding********
Lending and funding so far have been nothing but cashing on the credit of an individual’s credit history. To borrow or
invest, an investigation into the credit on the target individual
is required. Since the investigation process is often not
straightforward, it is often difficult to make both loans and
investments.If a scoring service were available to all, individuals’ trust
could be easily verified. People who have not been able to participate in financing and investment could participate as
well. Also, if a loan or investment system using blockchain
tokens were to be put in place, P2P loans and investment would become more accessible.As a result, it would become easier to finance and invest, and even do so across borders.Also,by storing the loan investment conditions as smart
contracts on a blockchain, the loan investment process becomes more transparent and safer.
Decentralized digital identities (DIDs)
Blockchain wallets can manage cryptocurrencies such as ARCS,which allow users to transfer and receive digital
assets. The rise of digital identity has sparked new standards and applications e.g. decentralized identifiers (DIDs) from the W3C. With the notion of identity, it will be possible to manage a self-sovereign identity in a wallet as well. AIre plans
to implement DIDs as an integrated part of the blockchain so that users can assign attributes to their digital identity and claim verifiable credentials from blockchain powered claim issuser.
***ARCS token details*****
ARCS is the native token in the AIre ecosystem. It is issued on the Ethereum network with the ERC-20 token standard.
*********TEAM MEMBER*****
Masashi Mizukura
Chief Executive Officer
Hiroshi Mizukura
Chief Financial Officer
Kunihiro Katsuragi
Chief Operating Officer
* ** Token specification******
Entity to issue tokens IFA Co., Ltd.
Token name : ARCS
Token symbol : ARX
Total minted tokens : 20,000,000,000 (20 Billion)
Number of decimals: 18
Blockchain platform Ethereum
Token standard: ERC20
Contract address: 0x20b1a8a9ca1c7302b7f774266c491c7b11622779
*AUTHOR'S DETAILS*
Bitcointalk Username: Alish111322
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2755492
ERC-20 Wallet : 0xFc2D6C0edb0Bc322745B7783Bf7934d080fc2b32
Steemit profile link: https://steemit.com/@amit967