ARCS (ARX)? is a chain for collecting data banking and it is AIre's local token. It can be placed in a wallet that supports the ERC-20 token standard wallet this token can be traded on exchanges ARCS (ARX) is listed already in KuCoin . ARCS (ARX) is mainly used for rewarding users to encourage them to use AIre's platform (one of the project) for the information they provide will be incentivized for storing their personal data this rewarding system will be a good attraction for users to give their data and this will lessen the negativity on giving data (Therefore, by assigning Incentive token for users, users will be motivated to enter more information).
How does it work🛠️? When a user stores data in AIre data bank it will be rewarded with ARCS (ARX) token 💰 for storing data. ➡️ If a company needs to Get data from the AIre's Data Bank it will first need to have ARCS (ARX) token and the Company can buy ARCS (ARX) in Exchange. ➡️
Result IFA will charge a third party When they access user data in the data bank at the same time users will be 👛rewarded by quantity, type, and quality of data They store. ➡️Now companies can use data that they purchase to provide services and provide them to AIre users in exchange for ARCS (ARX). This ecosystem♻️ will delive unique benefits from using ARCS tokens as opposed to fiat currencies😍.
Why use blockchain🔗? It serves as the most safes storage of data it requires the consent of most nodes or companies that make up the blockchain network 🖧 (They are in Ethereum Blockchain Platform) . Therefore, it cant be illegally edited. When it is already stored in the blockchain there is no way you can remove or change it without a trace, therefore, Blockchain can prevent data from being leaked Forged and All the changes will happen in the Data are store in the blockchain. (Blockchain is still the fastest on executing the transaction and it brings transparency, low cost and more possibilities ). It will become Easier financing and investment, even cross-border investment. In addition in the loan /investment conditions as smart Contracts on the blockchain, loan /investment process becomes more transparent and safer👮. As the community grows and user transaction grows they will make their own blockchain to support and adopt their scalability and performance that they need in supporting the ecosystem of the platform
Conclusion🤔? will be a good source of income for sharing your data in the platform with full control of your data and personal assets. This is different from a traditional centralized information management system that is used in our society that has no transparency with no full control of your data and assets. In the decentralized, you should be able to eliminate trust in third parties that sells your data without any reward for your valuable data. All in all this is big go for people who love to share personal interest and ideas🏆