The AMA took place in the Telegram community of "Eljaboom Crypto World" on 10th of December.
The COO of ARCS ($ARX) , Kunihiro Katsuragi , did the AMA.
Here is the Opening Message from the COO where he introduces himself and about the project:
Hi everyone!!
It's Kuni from ARCS. We are based in Japan.
I give you guys the brief introduction of AIre project and the native token ARCS.
The project takes it root in a vision of bringing well-being to individuals around the world. Well-being is essentially a better life, both physically, mentally and socially. It aims to empower individuals with ownership of their own data and identity so they can harvest the value it holds, instead of giving it away for free. This is not a declaration of war against the big corporations and centralized authorities who traditionally have been collecting data on their terms, but a system for a fairer balance between rightful data owners and the ones who want to acquire — this is the next generation of data banking.
Now we will be listing all the questions and their answers which won the AMA contest.
Q: What is the main use-case of this token/project?
A: ARCS(ARX) is the native token in the AIre ecosystem, which is centered around data banking. The token has two purposes 1) allow nodes to participate in the governance 2) act as utility for the data banking services
Q: Which area does ARCS_ARX focus on at the moment? and which products are you developing to support it?
A: ARCS will initially focus on data banking. The blockchain serves as infrastructure for the participants to transact with each other when selling and buying data. The first data bank product will be released in April 2020.
Q: Could you give me 3 key points to convince me and other angel investors invest in ARCS in long-term?
A: 1) ARCS is native token of a bigger ecosystem called AIre, which include incubation, businesses, and blockchain development. 2) ARCS has a clear plan for going public with industry leading partners. First step was to list with KuCoin. Next steps will include partnerships with big corporations (to be announced). 3) The project is one of the most prominent coming out of Japan and team is highly experienced with strong connections to relevant partners and public authorities.
Q: In network ecosystem, how do data control and revenue rights return to users? How is the value of these data reflected benefits for investors to token long term.
A: The network allows users and businesses to transact with data and digital assets. The data will remain off-chain and only the verifiable proof and asset transactions will go onchain. Rewards and other business mechanisms will be enforced by predefined smart contracts.
Q: For the success of a project, investors, community and developers play a major role. What is ARCS strategy to get them involved?
A: We will do incubation to build strong projects in the ecosystem and build partnerships with relevant blockchain projects. All together for them count that it will be within data banking or digital identity. We will continuously participate in events across the world to meet our investors. The community is the core of AIre. We are focusing on building an active community rather than a large inactive community. This is because the community will be the AIre users in the end. To engage the community we will do events, and these are to be announced in the near future.
Q: what are the data that the (AI) "artificial intelligence" of ARX gives to traders when looking for information to open or close an operation.
A: In the long term, we will implement tools to do advanced data analytics so that traders can derive powerful insights for their decision-making. And you can hear from us about the development of AI. It's gonna be special announcement!
Q: Can you introduce ourselves about your Dev Team? Are they having enough qualifications and experience to deliver a world class project ?
A: Our CTO was previously CTO of the crypto licensed exchamge. He has been working on the design, development, and operation of various systems utilizing the crypto asset. The product team has strong background in delivering data driven system and are considering amongst the best in Japan. We use a lot outsourcing for products now while we are building up our tech organization
Q: Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to ARCS $ARX long term?
A: In long term, we are over the moon excited about ARCS. As the ecosystem grows we will be able to onboard more businesses and users, which will reflect the ARCS price.
Q: For the success of a project,the support from the community is huge. Does ARCS exchange think that user is an important factor in your platform?So, in the future, does ARCS plan to attract more users such as creating more AMA events and more promotion programs?
A: Communities are the very core of our project because they will eventually make up a large amount of the users and make the network transactions. We will continue to support these as per their demands.
Q: Why ARX need the blockchain technology for the solution of the problem it sees? What is the role of $ARX token in its platform?
A: Due to the many participants in the network we will leverage blockchain to create a system where they don’t need to trust each other because it’s guaranteed by the technology. We also use blockchain to preserve integrity of data, provide self-sovereignty and privacy, and high level of automation with smart contracts.
Q: Why did you choose KuCoin as the first exchange to be listed and not other top exchanges (okex, houbi ...)?
A: Kucoin is well known for their high level in security. They also have the highest score in Exchange rating sites as well. And when we met the team in person, they are very professional, honest and trustworthy. Also not to mention they have really high standards of technology.
Q: As i can see ARCS_ARX ur main usecase is data monetization Can you throw some light why you are better than your competitors like insight networks and carry protocol ?
A: We believe one of our major value propositions is our experience and connections with businesses who monetize data. We already have a pipeline of partners who’s ready to get onboarded once the infrastructure is in place.
Q: What is the Usecase Of ARCS token In Your Ecosystem? How can Holders & Investors Generate Rewards Using your Platform?
A: ARCS is mainly used for two purposes
1.Incentives for users: Many internet users do not trust big corporations when providing personal data due to many cases of misuse. AIre incentivize users for the information they provide, which is expected to lower resistance of making personal data entries.
2.Rights to use AIre services: Companies who holds ARCS will be able to acquire and utilize data from AIre. Once the data has been purchased, users will be rewarded with ARCS. Companies can also offering their services in AIre ecosystem and ask users to pay ARCS for use.
Q: What motivated u guys to start this project? Do you have a word of encouragement for we the community?
A: 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 a high level of privacy and receive rewards based on inputting data and it being 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.
Q: Why did you choose KuCoin as the first exchange to be listed and not other top exchanges (okex, houbi ...)?
A: Kucoin is well known for their high level in security. They also have the highest score in Exchange rating sites as well. And when we met the team in person, they are very professional, honest and trustworthy. Also not to mention they have really high standards of technology.
Overall it was a great AMA for $ARX and we saw massive response from the Eljaboom Community.
We hope to see $ARX team again.
If you want to know more about the Project ARCS Token($ARX), Please visit their website or telegram group:
Website: https://www.arcs-chain.com/
Telegram: https://t.me/ARCS_ARX_EN
Twitter: https://twitter.com/ARCS_ARX?s=20
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Compiled by:
Vaibhav Gupta
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