Token name: ARCS
Token symbol: $ARX (ERC-20 Based)
Project and ecosystem name: AIre
ARCS (ARX) introduction:
ARCS functions as native token in AIre ecosystem. AIre provides functionality for management and storage of various data structures in “data banks”, which is essentially a business to monetize data. Network participants can access and build on Data Banks via custom build applications or directly through proprietary APIs. This provides a flexible framework that makes it easy for companies to build their business scenarios and applications with powerful insights from data analytics.
The project takes its root in a vision of bringing well-being to individuals around the world. ARCS aim 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. Individual ownership of data and identity along with a network of data banks will enable multiple business scenarios and solve some of the world’s toughest problems e.g. personal data exchange, data monetization, financial inclusion, lending/funding, scoring and reputation, and privacy.
In recent years, personal data has become increasingly fragmented across different services and often rests in databases without proper user consent. This leaves users without proper control of their data and, to some extent, their identity.
To solve these issues, AIre enables unified management of user data which allows for data to be used with consent and data rights protected. AIre refer to the interface which can offer these services as a “next-generation bank” . The next generation bank is a comprehensive digital wallet necessary for the coming era of digital transformation.
Now Let’s Understand how AIre(ARCS) makes money:
What’s Important is their Data Tampering Prevention Concept:
As mentioned above, AIre stakeholders can plan, develop, and use various services and applications by making use of the data that is managed and operated in data banks. At this time, user data must be “correctly” managed and operated. Here “correctly” means that the data has not been changed, deleted, or viewed without the permission of its owner
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.
Token Specification:
Entity to issue tokens: IFA Co., Ltd.
Token name: ARCS
Token symbol: ARX
Total minted tokens: 20,000,000,000 (20 Billion)
Issuing schedule: Issue all tokens at once
Number of decimals: 18
Blockchain platform: Ethereum
Token standard: ERC20
Contract address: 0x20b1a8a9ca1c7302b7f774266c491c7b11622779
Meet The Team Behind this:
Following is the Roadmap for ARCS:
Current Price(5th December):
ARX/USDT: 0.40421 (KuCoin)
Concluding our Brief Summary about the ARCS Token, which did it’s IEO on KuCoin.
We wish All the Very Best to the Project.
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