BiKi x ARCC AMA Transcript

As IBMR’s token ARCC is listed today, 8 April 2020 on 20:00 (GMT+8), let’s take a look at the AMA transcript with BiKi and Sinjin David Jung, CEO of IBMR and ARCC that happened on BiKi English telegram yesterday. We started with some basic Q&A and then opened the floor for the community to ask Sinjin some questions too! Read on:

Hi everyone! We have with us today, Sinjin David Jung CEO of IBMR, on an AMA focus session who will share more with us about the business and the ARCC token

Hi Everyone!

Thank you for being with us here today Sinjin!
Here’s a brief introduction of the IBMR ARCC project:
ARCC token is the world’s first microasset that aims to become a regional crypto-reserve currency backed by a socio-economic information network ( and currency reserve structure. ARCC is an Algorand Standard Asset (ASA ID 163650) token with an adoption and distribution network through a process of ‘Social Proof of Work’ that incentives reporting for radical social transparency and entrepreneurial empowerment through the world’s largest asset management ecosystem for the urban working poor in Southeast Asia.
Can you introduce yourself?

Hi yes! My name is Sinjin David Jung and I’m Korean. I spent half my life in America and half of it in Korea. I was a former PwC management consultant and strategist as well as an international joint venture licensing and regulatory negotiator. That’s my career, professionally anyways. I used to work for one of the biggest gaming companies in the world, PokerStars. I was the lead business figure in legalizing poker in Macau in 2007 and I also had a national fintech company in the Philippines with 1,500 employees and 100,000 agents which was acquired by Alipay and CP Group back in 2017. So I have an extensive gaming background, fintech/payment processing as well as a strategic management background and I’ve done everything from development to marketing to branding, from starting up companies to being a senior executive. And I love playing rugby; I played at the national level in Korea for my university, so I’m a big boy, sometimes people mistake me for being Hawaiian!

Wow very impressive background! Can you share the story behind IBMR and ARCC?

Ok, take a deep breath, its a long story!
Cause its been 3 years in the making!
Back in May 2017 I got fully into crypto. I had known about bitcoin for a while, since like 2011 or even before then, just because when you’re in online gaming you look at a lot of different payment channels. The reality is bitcoin is really quite binary, I mean it’s either gonna be no value at all and not get started or its gonna have value and the fact that it has any value at all is quite amazing to me. That being said, I just looked at it as a very volatile form of payments, which rendered it too difficult to work with back in the day.

So at the time, back in 2011, bitcoin wasn’t so exciting because I didn’t really understand the premise behind it other than it was peer-to-peer, but the entire aspect of it being decentralized wasn’t something I understood at all. But in 2017 I had some friends who were doing trading and they had made a lot of money trading crypto currencies. And they had asked me for advice because they were going to open a crypto trading desk at a mid sized Hong Kong investment bank. I was so shocked, I said, “Why would an investment bank be doing crypto?” and they let me know what had happened with the bitcoin price and ethereum and that’s when I kinda jumped down the rabbit hole. I’m older, I’m 45, so I’ve been around. I was a grad student when the entire internet boom was happening and I’ve seen the boom and the bust from that market and obviously again when I was a young executive and went through the entire 2008 crisis. So I’ve seen a lot of things come up and down, I’ve seen the hype, especially in online gaming. I mean crypto and online gaming have a lot of things in common. So when I realized the significance of the concept of decentralization, how blockchain had solved this double spend digital problem but in doing so had created the basis for a real peer-to-peer decentralized network system that was totally stand alone, it really blew my mind. And then I spent about two weeks isolating myself and really thinking about what the ramifications really were.
Starting in May 2017 was really during the start of that massive boom and I had a lot of people coming up to me and they said, “you should do a gaming project,” and people were congratulating me assuming that I was going to do that and raise like 20 million or something. But I wasn’t going to do that because I wanted to really look towards a long term goal on this because I felt like this was so revolutionary. The thing that has always bothered me is that I’ve always worked for big companies and been quite successful in business but what has always kind of concerned me is the inequality in terms of wealth and the fact that some people are really out of the entire economic system. Business at times is a game, but humans were made for more than just success and money, but for relationships and community.
When I was running our fintech firm in the Philippines you could really see that. I mean people talk about financial inclusion but if you’re including people who don’t have a good steady stable income into the current financial system, then it’s another form of exploitation. The fact of the matter is that the current financial system’s overhead costs can’t allow it to be micronized. I know we talk about microfinance but the reality is that you have these expensive or really high valued interest rates like 30% or 60% annually for these microloans. And the reason why is because the overhead is still the same, the same costs, the same intermediaries and settlement banks, so on and so forth. So when I thought about what could really change the lives of the most people and really have an effect, I realized that if you could get money directly to individuals who really needed it, and then they could invest that money the way they wanted to and were not exploited by their own systems or their own corrupt governments or level of poverty, then you could make real change in this world. And that’s how ARCC was first initiated.
And I thought the quickest or most straightforward way to do that was to create a new kind of reserve currency. Because in a lot of emerging markets the US dollar really is king I mean you can have your local currency but if you really want to save money you need to have it in US dollars. But that’s not always accessible to everybody. And so what I wanted to do was create a digital reserve currency specifically for the emerging markets. Then it evolved from there with an entire ecosystem of products and a decentralized network structure to make it all work. Money isn’t money, it’s an expression of incentives, debts, obligations and promises that represent a financial system. So even if there is a need for an accessible digital reserve currency, without an entire system to back it, it wasn’t going to work. So just setting up an ERC20 token wasn’t going to cut it and I made a decision to just go all-in to make this happen.
So my best friend, and business partner, Stanley K. Kwok wanted to support this as well, we are best friends, so we think alike, and we became co-founders and have approached this together. We have self funded everything up to this point and we went for it.
whew that’s it!
Why it’s such a long answer is that I really want people to know that this is not just a technology project, but a whole ecosystem project and so it is different in that way from other projects out there.

Wowow, that’s quite a journey! Thank you for sharing your experiences and your insights with us here!
Can you share with us about the function of the ARCC token and its role in the network?

Absolutely! The ARCC token, the Asia Reserve Currency Coin, acts as a reserve currency. Much like how Libra was trying to set itself up as a reserve currency being backed by assets, we are the same way except that there is no pegged price and so as the underlying assets grow in the reserve that helps grow the value of ARCC as a token. The role of ARCC in the network is that it acts as an incentive reward for a decentralized information network, called the Public Mandate Network, that is represented by the product called This is an international global reporting system that is somewhat like Google Waze except instead of reporting on traffic, you report on things that affect your daily life. So, if you live in an emerging market in an urban center, this would include things like illegal garbage dumping, sewage issues, road repairs that have not been done in months, sicknesses, flooding, brownouts. Because these things are not being reported there’s no data on these, “urban slums,” if I can be so direct. Without this kind of data, people continually live in squalor and the government doesn’t take any responsibility for these people. And also in the cases of illnesses there’s no way to track or have any data so this is a way for us to aggregate the data and be able to create and present this verified data that represents the needs of the urban working poor.
So actually our idea is really catching on nowadays with all the efforts for covid19 reporting.

Loving the ethos of helping and representing the needs of the urban working poor! but before I get to that, I am curious as to why would you be launching now in the middle of this crisis and extreme market downturn?

Great question!
The reason is because for us, if you really think a project is decentralized and its not connected with the centralized system, then even during this time it’s still a great time to launch, simply because we’re creating the foundations for a decentralized network, which in theory wouldn’t be affected by what’s happening in the current centralized markets. Now, in theory that’s true but in practice obviously there’s still a lot of difficulty. But for us our project has always been quite different and it’s nice to get away from all the noise of other projects that are promising the entire world in one year and they need $20m to do it, the founders have never had a successful exit, and so on and so forth whereas for us we’re looking at this in the long-term. Nothing revolutionary is going to get done in the next year but we will be building and developing a track record and if we can show that we were robust in this kind of environment when everyone wasn’t able to build, I think that will show our true worth as a decentralized project more than anything else. Crypto, because it gets listed and has a financial price, it’s a game of PR, media, optics and perception. But what we’re trying to do with IBMR and ARCC is really solve the global problem of inequality, we’re trying to create a new economic system. This isn’t easy, it takes a lot of time and effort, and if we were so affected by the market that we couldn’t launch, that would mean that we’re not really a solution to the current problem out there. And I think this is the time where we really prove it. Bitcoin was launched in 2010 in response to 2008, the economy still wasn’t great at that time, and I think it’s in these moments of crises where you get the really great counter movements that grow and develop in response to what’s been there. We see with the COVID-19 pandemic, we’re still in the middle of it and the damage isn’t done yet, but the people who are getting hurt the most are the emerging markets, those who are disadvantaged. Even those in Western markets living month to month are more affected. We are creating a system that is robust because it is separate and it does take care of the individual, even in this situation.
So a lot of people say their project is decentralized, well this is the time to prove it.

True — very interesting point!
Which brings me to… Can you elaborate about how the urban working poor can benefit from this network?

Absolutely, so the main thing about the urban working poor is that in ASEAN, you know the economy has grown by 66% as whole of GDP in the last 10 years but if you go to the urban slums or where the people survive day to day, they have not increased their living standards at all and if you look now at the coronavirus, people talk about social distancing and getting medical support but some of these people have never been to the doctor in their entire lives and they barely have the chance to go to the dentist so for these people getting the coronavirus means pretty much certain death so what we are trying to do is to empower the urban working poor because it’s a target group that we feel we have the most ability to help.
For a lot of them, their children have access to smartphones, small low-cost smartphones, also they are very mobile and internet adept. So really we are not trying to help all people per se we are trying to help the people that we believe can help effectively. So the biggest thing that people don’t realise is that the urban working poor is not just a case of them not being financially included, but they also have very little legal, political and financial representation because basically people don’t really count them as a part of society. So the very first thing is to get them included by them being empowered with debt free capital and this is where ARCC comes in. Money does talk, and so every time that people are using the network not only are they earning ARCC but we are also allowing them to grow the ARCC on the network so we are providing other microequity and microasset management services for them. So in fact, what we are really trying to create is really the world’s first microasset so that even if you just have 5 cents, you can earn interest on it like 5%, 10% annually, something that you just can’t do anywhere else. We are creating for the urban working poor their own economic system that works at their level at their cost and gives them debt-free capital.
The main problem we have in our system is wealth inequality. And for all the technological advances we have, if we don’t solve this one, then what is the point of all the technology if our people are still starving???
Or they are living day to day, you see that right now, those people who haven’t saved anything, during a lockdown, they dont even have enough food. We need to solve this problem and I hope we are the first step towards that.

Yes that’s so true. I’ve lived in Vietnam for 6 years and on occasions when I make trips and visit the outskirts and villages especially at the borders, medical care there is often lacking.
Loving the support you are looking to give to this target group and empowering them.
Indeed, despite the purchasing power parity, smartphone penetration is relatively high.
Could you share with us what are some key milestones achieved to date?

I think the biggest milestone we have done is obviously establishing the token. But you know, when we started in 2017, we had so many options as an Ethereum smart contract, as an ERC 20, and then a lot of other protocols came out but in the end we decided on Algorand. We checked out their technology and they were really rapidly developing, they have great minds, the Founder, Silvio, is an MIT professor, so we wanted to go with a protocol that not only had great technology but also a great roadmap and we found that in Algorand. In fact after Algorand was able to release their 2.0 version, we were able to be one of the first digital assets created on their protocol as an ASA token, as an Algorand Standard Asset token, and so that has been a milestone for us in terms of technical partnership.
So we are co-development partners with really some of the strongest tech in crypto right now!
As a business partnership, we have partnered with Republic Crypto and they have been instrumental in guiding us through the industry. Crypto is a very young industry and there were a lot of advisors, influencers and brokers but with Republic Crypto we found a lot of brain power, they had a lot of brain trust and the head of Republic Crypto, Andrew Durgee, is amazing. He is not just brilliant, but extremely practical, very strategic and he has been able to bring everything together so it has been a real pleasure working with them as a partner.
I think the biggest thing for us is just getting to launch here with BiKi.
Our kind of project should fail actually, we are not a trendy or hot crypto project.
We didn’t do it the way everyone else said we should do it.
None of our advisors, unlike a lot of other crypto projects, were ever paid anything; they are not on salaries, they are not on percentages and none of the Executives have been paid either as we feel that this is a project that is doing social good and social impact and we really want to make a difference in the world so we have taken such a long term approach and so I guess the biggest achievement is just getting here; we were such a loonhoot, no one really understood what we were doing and it wasn’t until Libra came out and really educated the whole market, because everyone read the Libra White Paper, that people began to really understand what is a reserve currency and what is the need for one. These are things that I had actually written in our White Paper and set out back in 2017 but the market has been so crazy moving from one trend to another trend to another and being older we just had our eye on the long term for the maximum amount of impact, so I am just happy to be here and that we are listing on BiKi.
We are just so thankful for every single one of our community members as well as our advisors and our development partners RandLabs, with our strategic partners of Crypto Republic and Algorand.

So could you share with all of us here how is ARCC different than most other projects listing?

I think the main thing is that as a reserve currency and being self-funded, that 90% of whatever we raise through listing and the selling of our own coins, 90% goes into the reserve and that reserve is there to back the value and to provide a baseline value for ARCC as being a listed asset while 10% goes directly into development and operations. And so I think that’s the biggest difference as for a lot of projects, their coin value has nothing to do with their utility.
But for us, maintaining a strong price is also maintaining a strong level of incentive for our users who are participating on our network and by participating on our network we hope that with a stronger value in coin as a reward that users are also able to take more seriously what kind of data they report and how consistent they are. The main thing is that we are really going for financial inclusion. Our hope is that everyone is able to get at least $2,000 debt-free capital in about 3 years after we launch. Everyone who consistently works with us and supports us and is earning with us we want to give them that opportunity. A lot of problems that happen in these emerging markets, they need to be solved by the people in these emerging markets. It’s totally arrogant and impossible for someone from an NGO to come along and say we have all your solutions, we are a different government and we know what’s going on; they don’t. Living in these kinds of environments is totally different and even within those countries, the difference between the rich and poor, no one really understands what each person is going through, and so the biggest thing is for people to be empowered. The education system in many of these emerging markets is really strong, especially in Southeast Asia, and so it’s just a matter of getting that capital to these people to get them to figure things out the way that is sustainable and appropriate. And that is what we are really looking for; to provide debt free capital for entrepreneurial investments so that people can really take charge and change their own lives and those of their families around them.
So to summarize, the main difference is that a lot of other crypto projects say they have utility but as soon as the price gets too high, the utility is useless because it’s better just to hold onto the coin than to use it but for us, as the utility gets higher, it becomes a stronger network incentive for us and so I think we are really clear on our decentralized network effect model and how not only does that network model help grow the coin in its adoption but also as the coin grows in its value, it also helps in the adoption, so it creates this network effect of virtuous circle.
In short, nearly all projects coin has no relation to its value, but we do. We are like a stablecoin, but because we are not pegged, its more risk, but also more potential for growth.

Yes to financial inclusions, empowerment, debt-free capital! Good to know this is something that is working towards sustainability and the greater good. Why did you not do an ICO or IEO and do a straight listing?

Well it’s a really interesting question because we decided to list with BiKi because BiKi is, of course, a very strong and growing platform exchange but we also found that the BiKi management is very open; they understood that our objective is not for some kind of short-term loyalty program where we’re going to do some ICO or IEO and try to raise a lot of money and then to try to make some big empty promises. Our project has been around for almost 3 years now, we are self-funded. We had no desire or need to raise money as a priority. In fact, the money we did end up raising from our strategic partners was put towards the reserve 100%, so no money was taken out for anything else, it was just put into the reserve and that was in total, including our contribution, about $3.48m that was put into the reserve to back ARCC to show as a proof of concept for our model.

I think that if you are going to do a long-term development and project in crypto, you don’t need to start with some kind of big splash or anything like that and raise all this money; what you need is consistency and if your project really is a decentralized project in the sense that it is a network project and networks — if they are done properly and they have good buy-in and the incentive structure is good — then they always create exponential rewards, effects and growth. We really believe in our model and so that’s why we did this.

The other thing also is that when you’re doing an IEO or ICO, legally, you’re creating ripples; you’re saying we’re trying to raise money rather than distribute our coin for utility and for us doing a straight listing in the long run is, I think, much more beneficial because we grow organically with everyone and we grow with our product, we grow with our community and we grow in a line that is really transparent that we’re not raising a whole bunch of money in the beginning for the promise of building, rather we are doing it together step-by-step.
In fact, our process is a matter of: as people use and as people want to support the reserve, they’re free to go and find it as a listed entity and slowly buy into and understand what we are doing here and to be able to see a track record of not only how prices work and how our monetary policy is but also to see how we have done development and how we have done community. This is the benefit of being self-funded but it’s also our sacrifice and skin in the game; the funds that have been and continue to be contributed by myself and Stanley equally into this project is a labor of love for global equality.

Thank you and we are committed to long term growth together with you! Can you explain how does decentralization apply to ARCC?

This is a really interesting question because for me decentralization when I understood it was really the empowerment of the individual, that we could create a new kind of economic system or structure where there will be free, direct, distributed access for the individual. So when people talk about that there are no intermediaries for bitcoin, there’s a Western, developed world point of view and then there is an emerging market developing world point of view. For the developed West, it is about trusting the intermediaries and the fees they take. For emerging markets, it is much more basic because they are excluded or directly exploited by those systems so what they need is direct access to just even participate.
I think if you look at any major financial crisis, in terms of the currency, cryptocurrencies are a great alternative because they are directly accessible and so in the same way for us, decentralization definitely is part of reaching out to the individuals and incentivizing them and bringing them into the network where they can collectively through their individual actions create strength and be part of a network. The biggest difference between a decentralized network and a centralized network is that in a decentralized network it only happens when people decide to come together because they believe in the ethos of that network and as more people join, not only does the value of the network increase but also the holdings of the people increase.
Decentralization is about empowering individuals and in particular with decentralized networks, you can’t divorce cryptocurrencies from decentralized networks or blockchain. I know that a lot of people in the industry they are talking about distributed ledger technology or smart money, programmable money or just blockchain, and they don’t want to talk about cryptocurrencies, but I think if you don’t talk about cryptocurrencies, you miss the whole secret sauce of what makes distributed decentralized networks work; it’s the alignment and the clear transparency of incentives that make a decentralized network exist. So for us how are we decentralized?
In a product sense, we are fairly centralized in many respects because we want to go to market right away, we want to launch next year with our main platform, we have two other products that are coming up before then — one is a microequity exchange and the other is a staking lottery — but a lot of it is centralized development but it lends itself towards becoming decentralized development as scaling happens. But for us, the innovation of ERC20 or Bitcoin or now Algorand, to be able to have a permissionless decentralized cryptocurrency that works is so phenomenally amazing and this innovation is the real killer app and building an economic system around that decentralized cryptocurrency is what we are trying to do right here right now. For me, it’s not like everything has to be decentralized but I think that the core things like cryptocurrencies being decentralized is such an achievement in itself we have not maximized it yet and so we are trying to maximize that first.

Thank you for going in-depth and sharing these details with us!
This brings me to my next question, I understand that you have a 50 year monetary policy — can you explain more about it?

We talk about cryptocurrencies and we talk about currencies but there are so many currencies in the world that were developed from scratch in new countries or emerging markets where they have just spectacularly failed. Look at Latin America with their currencies, even though they have massive resources, they fail all the time. So the reality is you look at all these 400 cryptocurrencies and altcoins that are out there, and you think how many of them will survive 3, 4 or 5 years from now? Maybe only 10, or 20, maybe 50 we hope? But the fact of the matter is that making a currency is really difficult and it has a lot of layers to it; it’s not about the velocity of money, it’s not about supply and demand or scarcity or underlying values or assets; really for us it is about an expression of productivity and in order for a currency to be productive it has to be managed in a certain way. For us, we have a monetary policy in which we have guidelines on how the reserve is grown and used, and how investments are used and what we are expecting the price to do. Really what we want to do in the first 18 years is simply to build up the reserve as much as possible. There is always this poker analogy that I use which is we want to ‘build the stack up.’ We want to have the biggest stack possible so that even if people are trying to manipulate around with our price or trying to take advantage of us, we have enough in our reserves that we can take care of it.
The next part of this is really finding some level of stability. So we’re a reserve coin but we are not pegged to any value; we are not pegged to the US dollar or to the Euro. We have a floating value but what we are working towards is such that the amount in our reserve can dictate a range of where we are stable and then we use the reserve to really buy and sell into the exchange to find a defensible price range. And this is the objective for the next 22 years. And then for the last 10 years, we want to make it a transactional currency. We are hoping in the first 18 years that we will have people participating and getting that $2,000 target of debt free capital and investing it into their children’s education, into housing, into new buildings and new businesses and then after that period, when ARCC is used in all these countries, we hope we can transition into a more transactional currency at that time.
I hope I live to see the end of it all, I’ll be 95 years old

After learning and reading about all these about IBMR and the ARCC token and purpose — I’m sure we are all eager to see the completion of the 50 year monetary policy!
It is known that you wanted to win the Nobel Peace Prize for this project. Why is that important?

Yes it is an ongoing thing actually, I don’t really need to win the Nobel Peace Prize. It will definitely qualify for that: developing an entirely new economic system, decentralized network for emerging markets that deals with social transparency and debt free assets as a microasset. I think that would be awesome, but more than that, this entire quest to win the Nobel Peace Prize came up because I wanted to let people know how serious we were and that we knew it was a ‘loonshot,’ meaning that it is more than a ‘moonshot’. A ‘loonshot’ is something that may take 3, 4 or even 10 years and a lot of people will simply not think that it is possible and that is what I was faced with right from the beginning; obviously I have a great partner, Stanley K.Kwok, and he has been with me every step of the way and we have worked together for a while and we are best friends, but he got it, he knew it, he supported it and he pushed it forward. But I think if I did not have Stanley and if I did not have my other Executives, Eric, Cyrus and Vince, who came on board as well, it would have been impossible because it was just us and it was really only us.

I think really, in crypto we are not tackling the biggest problems now, and we should be. I think aiming for something clear like the nobel peace prize shows that in crypto, the point is not to make everything decentralized but to use decentalization to change the world — that is what we’re doing

Good food for thought!
What are some of the biggest challenges IBMR has experienced so far, and how did you overcome them?

I think the biggest thing is just a lack of wanting to understand our project; I mean the crypto market was so hyper-active, it’s ultra hyper-active. I mean what happens in one month in the crypto industry is probably the equivalent to 3 or 4 months anywhere else. One year in crypto is like half a decade. It’s crazy. And so, us coming in with a long term vision and being much older than a lot of the other people, we are quite out of step with everybody. I mean when I am on Crypto-Twitter, I feel like everyone is shilling and trolling, and it’s ok, and they are repeating the same kind of phrasing over and over again in different ways to make themselves believe it and it’s hard for me to fit in! Yes, I love BTC, but I don’t need to tweet the same stuff in different words every day to keep loving it!
Someone who I really respect is Elon Musk. I love that guy. I think that he is amazing and no one should ever bet against him because I think he always comes through and he runs Tesla like a massive start up. He does everything that he can to make it work and he is brilliant. I totally love him and I am his biggest fan boy. And one thing that I am doing to contribute to Elon Musk’s vision is solving global inequality. I think he could appreciate that obviously because he was one of the founding Paypal mafia members, but he can’t do everything!
If you think about Elon wanting to go to Mars, don’t think that only the richest people will be able to go there because if you are not able to open that up for everybody, they are going to tear down the space ships before you even have a chance to launch. Those movies where you have cities floating in the clouds and the poor people on the ground on Earth, that doesn’t happen in real life. Before that cloud city gets off the ground, I guarantee you, all the disadvantaged people will rise up and destroy it because you can’t keep going this way; eventually people break and humans are humans. I don’t care if you are rich or poor; you are still a human being; you still have feelings; you still have actions that will break the social fabric. It’s just like the coronavirus.
The virus doesn’t care if you are rich or poor or your religion. It’s indiscriminate because we are human and it shows that. But if we still treat people this way, if we still keep this divide going, then the end result will be after the coronavirus is all done and dusted, the disadvantaged people will want a change; why would they want to be in a society when the society clearly doesn’t care about them at all; and then there is no more short term appeasement of them. No, this time the need for change won’t be swept under the rug, it will be time for an equitable society and I think for us being in this position and what we are doing; I am reminded daily about the crisis, pain and sadness. But also on a daily basis I take conviction that as huge a scope our project is, it doesn’t matter because it is just that necessary. The cure for cancer, the cure for AIDs, the cure for diabetes, the solutions for climate change and equality for gender rights; it doesn’t matter how impossible the task is because the need is that great.
So the biggest challenge was to keep going, even though the problem size is so big, but it’s so necessary

We will be right by you rooting for you!
The noble vision of this business you are building is respectable! And I cant wait to see the long term fruition of this
My last question would be for the wider community — What are some of the exciting updates that the community can look forward to in the coming months?

We have some awesome things coming up. Number one is that we have a lot of investments that we are planning to do although we are reforming it because of the current economy but also we have and this is basically where we are tokenizing US high growth tech stocks like Tesla, Microsoft, Apple, Amazon, Netflix, Twitter and we are offering it at 1/10,000th of the value or share, — so microshare, or microequity — so that’s a big project that we are doing in co-development with Algorand Inc on the smart contract decentralized exchange side. Also, we are doing a massive staking lottery called; we are doing that in co-development with Rand Labs. So we have some really great projects going on and the main thing is that we are setting up this microfinance ecosystem, a platform, so next year when we launch, people will be able to launch their own microasset services on our platform and join with us; so I am really excited about all of that. So check out those sites, we will be launching them in about 4–5 months!

Thank you Sinjin for answering all our questions in this AMA session! I believe that we enjoyed learning more about IBMR and looking forward to the launch of ARCC! I sure do!
Now we will open the chat to receive some questions from the community.
Sinjin, you can choose to pick some questions to answer. And we will also release a blog article after this session for any questions that we didn’t get a chance to answer.

1. Since the change from BEP2 to ALGORAND, what changes have happened to ARCC Tokenomic?
Please explain about the distribution of ARCC supply and what percentage of the supply is used.

Basically no major changes, but because protocol is different, the actual technical process became different.

2. ARCC develops what you call “SPoW”. If you get that data, what do you do next to benefit from that data?
And how to stop corruption just by collecting data? Are you going to take action directly into politics to break down the corruption?

ARCC develops what you call “SPoW”. If you get that data, what do you do next to benefit from that data? For cash we work with major companies and UN and world bank.

How it will work to get benefit from that data?

This will be used for making a public mandate so that people will have a way to point to real data. Right now for covid19, lots of people don’t have real data and so the government can say whatever they want but if we can have direct verified reporting then it is supports. BUT, we are not a whistleblower site, we are not trying to create political trouble.

3. What collaboration do you have with Biki besides listing? And what are the benefits of ARCC for that collaboration?

We will focus on staking rewards moving forward.

4. Is ARCC the first to implement social of transparency and SPoW?


5. For monetary 50 year policy.
Will you be the CEO of ARCC forever, or will there be a term of office for the CEO later?

No, as soon as we find someone qualified, then we will create a strong executive line.

What is your long-term vision about the industry which ARCC is working at? Are you afraid some day there will be another project with more innovative technology can replace ARCC?

We are going for solving financial inequality so we are working with Algorand which has the most innovative technology. But the main thing for any commercial project or user project, 20% is technology, 80% is user experience. So this is most important: are we really solving the project or not?

Do you consider ARCC being used as payment method to some establishment in the future?

Yes after 20 years. Currency is not easy — Bitcoin is like the 1st out of 100000 tries, so we need to try.

If the ARCC one application has been launched, will you implement a system-level / rank there?
Because I believe, for each user has a different report quality and certainly, every user has a different level of enthusiasm. So maybe the rewards for each report for each account will be different.
Or please explain how is the reward rating for each report?

This will depend on the type of reporting, but yes there will be some people who get a higher rank because we know their information is good but we need to make sure that its not just a few people and it needs to be accessible together.

Thank you Sinjin for being with us on our AMA focus session!
Thank you allfor tuning in and participating. Stay tuned for the listing of ARCC on BiKi coming soon and the campaigns we will be launching.

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