AIRE: DATA BANKS AND THEIR USERS.
AIre is a cryptocurrency that focuses on improving the way our data is secured in our everyday life. Alre promises their users privacy and security when using their system. Unlike big corporations that compromise one's data. Blockchain is used through smart contract to to perform transactions. Since buying and selling is what we do everyday, AIre ensures a fair trade while protecting our data. AIre makes use of the "next-generation bank" which solves the security problem users have with their data. AIre was further developed by IFA which still conducts verification concerning the development of ARCS. They make it possible that users and companies can use normal web applications and that they don't have to pay transaction fees. ARCS chain was created as a public blockchain so any fraud can be noticed quickly.
ABOUT AIRE
AIre grants tokens to any user that registers which can not be denied by anyone and their personal data doesn't get disturbed in any way. Users do not need to worry about transaction fees because they will not be transacting with the blockchain directly.
AIre turns human values into assets which can be used as social resources. ARCS depends on the Ethereum platform which now has doubts concerning it's future. So, the company is considering on reissuing ARCS to a more reliable platform.
AIre is made up of three (3) main functionalities: Information utilization, information storage and information input.
Information utilization allows companies to join their businesses with data banks. Information storage makes it possible for information to be stored in the data bank system. Information input allows users to put in personal information like gender.
AIre creates their revenue through business model,which are made with tokens. AIre has also made it possible that other data marketplaces and sellers to involve in the network. Instead of re-entering data,they offer their existing data bank.
DETAILS OF THE AIRE TOKEN
AIre is centered around the ARCS token. ARCS makes it possible to use the Alre service and it serves as incentives to users. ARCS can be traded on exchanges that list ARCS which would also differ according to market conditions. It can also be held in wallets which support the ERC-20 token standard.
The token symbol for AIre is ARX. Total minted tokens or max supply is 20,000,000,000(20 billion). The token standard is ERC20. ARCS price is 0.323661 dollars today. The ARCS/BTC ratio is 1BTC=29885.37ARX. The AIre project started in April 2018 represented by Masashi Mizukura as president.
Decentralized identifiers makes it possible to manage a self-sovereign identity in a wallet. If Decentralized Digital Identities (DID) is implemented, personal data can be linked to an ID. DIDs makes it possible for users to have authority over their data and be able to authorize others to access it.
CONCLUSION
Application Programming Interface (API) allows different software components to operate. Currently,most banks don't have open APIs. Cooperation with existing banks will provide quality data. It will also help to know the behavioural patterns of their users and find a solution to limited credit information which is one of the reason startups find it hard to secure loans from banks.
USEFUL LINKS
Website: https://www.arcs-chain.com/
Whitepaper: https://www.arcs-chain.com/whitepaper_en.pdf?v=20191122b
Telegram: https://t.me/ARCS_ARX_EN
Twitter: https://twitter.com/ARCS_ARX
Medium: https://medium.com/arcs-arx-official
AUTHOR'S DETAILS
Bitcointalk Username: Bububoyeer
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2661499