Bitcoin is the technological proof of concept of the decentralization of peer-to-peer trustless electronic cash. Bitcoin and its underlying blockchain has led to the economic achievement of the issuance of a new global non-fiat currency. The innovation of bitcoin is also an economic innovation in providing an incentive structure that is able to support a decentralized network. The strongest use case for cryptocurrencies can be found in its crisis currency adoption in unstable emerging markets. Yet, this use case does not solve the greater structural economic issue facing emerging markets, namely systemic corruption and financial exclusion. IBMR.io proposes a social impact solution for the economic development of the emerging markets in Southeast Asia by creating a decentralized information network, a Public Mandate Network, that rewards users with ‘ARCC’, Asia Reserve Currency Coin.
The Public Mandate Network, accessed through a microasset fintech mobile platform, allows for users to participate in socio-economic surveys or directly report, identify and cross verify points of corruption (i.e. illegal garbage dumping, deteriorating public infrastructure, etc) in urban areas. The aggregated verified real-time data of corruption can be used to finally publicly expose the extent and scope of the systemic corruption. Users would be incentivized to participate in the network by earning ARCC through an act of Social Proof of Work (SPoW) mining (i.e. earning ARCC as a reward for contributing to the Public Mandate Network for reports made).
ARCC mined by the user would be subject to a 3-year vesting schedule, as the objective is to provide debt-free capital for entrepreneurial investment. As such, to act as a sufficient long-term incentive, ARCC itself would derive its value by being positioned as a macroeconomic ‘regional crypto-reserve currency’ and a ‘microasset’. This would be accomplished through a sovereign wealth fund type structure composed of a ‘foreign currency reserve’ with an inflow of funds from underlying assets as well as a 50-year token monetary policy. The Public Mandate Network would also act as an asset management platform accessed through ARCC.one, a microfinance ecosystem of third-party providers mobile APP.
The ARCC Public Mandate Network, by simultaneously removing corruption and enabling financial inclusion, would enable a transition to a new economic model of a radically transparent efficient entrepreneurial environment for debt-free capital deployment, development and productivity.
1.What is Asian Reserve Currency Coin?
In today’s review, we will probably talk about the first and so far the only project of its kind that touches on such a global topic. If earlier we met some financial instruments that struggled with high Commission costs and involved in financial transactions by third parties, then this project wants to offer us a completely new social environment built on the basis of modern innovations. And the name of the project — ARCC.
Its mission is to ensure stable economic development without corruption of more than 630 million residents in Southeast Asia, while applying blockchain technology and associated cryptocurrencies.
2. What are the Competitive Advantages of ARCC?
- Fighting corruption
- ARCC will also be able to encourage the poor for their assistance in uploading data to the data system. That is, anyone has the opportunity to upload service data to ARCC or to identify geographical points of corruption on the map and receive an award in the form of an internal token.
- The downloaded data in the ARCC carefully checked on the true cost of cartel rents, but if there is a mismatch, it means the app and other media is the awareness of the most corrupt person. This method intends to stimulate the public mandate and support the poor class of residents.
3. ARCC Data
- [Updated on 30th June 2020 based on: https://www.coinwire.com/asia-reserve-currency-coin]
|Price||1 ARCC = 0.016 USD|
|Soft Cap||20,000,000 USD|
|Restricted areas||USA, Singapore, China|
- IBMR Official website: https://ibmr.io/
- ARCC White paper: https://ibmr.io/wp-content/uploads/2019/02/ARCC-WhitePaper-Jan-feb-26-web-file.pdf
4. ARCC Website Community Socials
- Twitter: https://twitter.com/ARCC_IBMR
- Telegram: https://t.me/arccenglish
- Facebook: https://www.facebook.com/AsiaReserveCurrencyCoin/
- Reddit: https://www.reddit.com/r/ARCCtoken/
- Youtube: https://www.youtube.com/channel/UCEBy9xyVZPaLFqVllY3d12A