Welcome to ARCS community!

Mei 20, 2020

Dear community,

Welcome to ARCS — we are excited to have you onboard!

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.

ARCS (token symbol: ARX) is the native token on AIre and it plays an important role in building an ecosystem for various users.

See the project website here
Read the whitepaper here
Join our Telegram here

Important definitions

Token name: ARCS
Token symbol: ARX
Project and ecosystem name: AIre

Inception of AIre

The project was initiated in Tokyo, Japan 2017 by a group of entrepreneurs, technologists, and philanthropists who believes that blockchain technology can contribute to a better world. Individual ownership of data and identity, along with a network of data banks, will enable multiple business scenarios and solve some of the toughest problems in the world e.g. personal data exchange, data monetization, financial inclusion, lending/funding, scoring and reputation, and privacy.

Product — data bank

The first product is data bank 1.0. With this, individuals will be able to register as users, create accounts, do KYC, and make data entries to the data bank — all in return for rewards. On the other side, businesses will be able to acquire data and reward users with tokens. Integrity of the data bank is preserved by the blockchain and privacy is secured by advanced cryptographic techniques.

Technology — blockchain infrastructure

For token offering and initial development, the tokens are issued on Ethereum blockchain with ERC-20 standard. AIre is currently conducting research and development for the underlying ARCS blockchain infrastructure, and final design is scheduled to be released in Q2 2020. The main requirements include:

1) high performance to accommodate business requirements
2) security design to preserve privacy and ownership
3) scalability to onboard other data banks and businesses
4) flexible design to allow customization e.g. implementation of W3C DID standards and verifiable credentials data model

Token economy

ARCS is mainly used for two purposes

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
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

Business model

The overall business model of the AIre ecosystem is the mechanics between data provider, data buyer, and the data bank. The provider can be individuals or third parties, and the buyers are typically businesses who needs the data for analytics. The providers data inputs can come in many formats such as social media, questionnaires, feedback, and proprietary data structures. Once the data rest in the data bank, businesses can inquire data access in return for points or payment tokens for users. The users are protected by high level of privacy and options to authorize different buyers to acquire different data.

Stay tuned

Please follow and stayed tuned for more content. Going ahead, we will explain much more about the project e.g. roadmap, token economy, blockchain infrastructure, partnerships, and token distribution.