ARCS (ARX) CHAIN
The New World Token
ARCS is basiclly a token which relies on the Ethereum platform. However, the operating situation of the Ethereum platform is about to reach its limitation, which has provoked alarm about its future prospects. Of course, there is still a great chance of improving the situation. Nevertheless, we are considering reissuing ARCS by using a potential and highly scaled platform compared to the current platform.
All in all, not only issuing settlement tokens which have settlement ability, but also we will issue governance token, which commit to the management of the Alre world, and security tokens that fits regionality. We will do our best to develop ARCS because it will contribute to the new world.
Our company will be responsible for the issuance of ARCS. At the same time, we will set up a new ARCS Foundation and lock 50% of all issued ARCS up as foundation assets. As a result, we are going to build a third-party system which can use assets effeciently for society and users, instead of a centralized token management. IFA pledges to dilute centralized control and contribute the whole society.
VISION
The philosophy of the AIre project is a desire to improve well-being for people around the world, not only physically, but also mentally and socially. AIre’ s vision is to empower individuals through the rights to their data and the value their data holds. The ecosystem will include participants of many kinds, ranging from individuals to large data corporations. Participants will be able to transact with each other, protected by the “rule of code” enforced with smart contracts deployed onto a blockchain network. This enables businesses to buy and sell data while being compliant with personal data regulations, ultimately improving their data analytics capabilities and deriving meaningful insights. Individuals who provide information to data banks will be protected by ahigh level of privacy and receive rewards based on inputting data and it b eing used. Buying and selling data is increasingly becoming a major part of our lives, Aire’ s proposed ecosystem will make buying and selling data an integrated part of our lives whilst ensuring privacy and fair distribution of data trade.
About AIre
Alre is a world which various human values can be turned into assets and used as social resources.
ARCS is a token issued to make its construction faster.
To realize this non-centralized system, we will operate it in a unique way.
Settlement tokens, governance tokens, and utility tokens will also be issued. Please enjoy the new world which is full of fresh values and lighted up by ARCS.
AIre is an ecosystem centered around data banks and their users.It provides functionality
for data banks so that they can operate effectively and transact with businesses and
individuals.This section outlines AIre, its functionality, and its business model.
It also includes a description of measures to prevent data tampering through using blockchain technology and interconnected data bank hubs.
Token Economy
The AIre token economy is centered around the ARCS token. Below is a description of the token,
its economy, and its functionality.
ARCS token
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: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:
Incentives for users
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.
Rights to use the AIre service
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.
Token Flow
Below is a demonstration of the ARCS token flow:
- Users input data into the AIre data bank and receive ARCS as a reward;
- Companies who wish to acquire data from the data bank will first buy ARCS from an exchange;
- 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;
- 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:
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 issuers.
Crypto assets
AIre will develop a wallet specifically for ARCS, payment tokens, and associated services. This product will enable users to transact with tokens in the ecosystem and use tokens for meaningful purposes instead of holding them purely for speculation. This is a step towards the establishment of a next-generation bank. The core team will allocate significant resources for this because it is important to develop a UI/UX which is domain-specific and more advanced than existing crypto wallets. For example, this would include a UX which enables asset exchange within messages for user convenience.
Personal information as digital assets
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.
Asset Tokenization
AIre aims to visualize the value of individuals through tokens. As assets are tokenized, different asset types can be exchanged in real-time. There are many types of assets, such as real estate, art, and securities, but there is currently no platform that can handle them with a single interface. We believe that by tokenizing various forms of assets, the assets can be used as a form of “money”, and economic activities can be further encouraged. For example, you could get
insurance by tokenizing a car you own and staking a part of it, or sell art by tokenizing it while it remains on display. Also, since one large asset can be subdivided and owned by
multiple people, it is possible to lower the barrier to investment and encourage larger markets.
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.
Token Specification
The ARCS token is issued based on the parameters shown in the table below.
Token Distribution
The 20 billion ARCS tokens are planned to be distributed as follows:
- 1: About third-party organizations
IFA mints the tokens and will initially hold all of them. To discourage centralized governance, IFA will delegate the tokens to third-party organizations which will manage the tokens for the benefit of the AIre ecosystem. These third-party organizations will have to meet KPIs and be subject to long lock-up periods.
Token Migration and Swap
As the ecosystem grows with more users and transactions, it will be necessary to build a blockchain that can accommodate scalability, performance, and customization requirements. ARCS is initially issued on the Ethereum network to begin development and build the ecosystem.
However, Ethereum will not be able to meet the requirements at scale. Going forward, the team will design and build an AIre proprietary blockchain infrastructure which the ARCS
tokens will later migrate to. During the migration, the token holders will have to swap from the ERC-20 token standard to AIre’s new native token standard.
ROAD MAP
IFA TEAM
More info follow
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