ARCS Digital identity with AIre-chain
About
Modern technology is something, a lot of useful things out of nowhere and helping us in life. Cryptocurrencies are another technology that can change our world for the better. This concept appeared a few years ago. However, technology has proven to be very useful and in demand in various fields. From daily payments to data protection. The operation of cryptocurrencies is based on blockchain technology. All this information is stored on different devices participating in this system and anyone can become a member of this system (something like a torrent when downloading information). Such payment information can be displayed on all devices (data synced over the Internet), so it is virtually impossible to crack such a system. Data banks are one of the indispensable things of blockchain technology, which makes it possible to reach consensus in a decentralized digital environment. In the blockchain world, everything begins with an identity, the weather is a person, a business or an object, ARCS is one of the ecosystems that can do that based on AIre platform.
Essentially, it is necessary to verify who is participating in the network and what they claim to be when dealing and trading with personal data takes place - equally important is verifying the reliability and data source. In other words, everyone's identity and appeal needs to be verified.
This is easy to do in the real world because AIre has official IDs issued by trusted entities, which most people trust. They are used in many aspects of our lives, such as passports for visa applications and university degrees for job applications. This is not how it works on the internet!
On the internet, users often use common login information or social media accounts as a concept for identity records, such as Gmail. These profiles contain valuable personal information and are registered in databases belonging to large corporations, such as Facebook - basically they lie between us and what we do online.
We think this results in two issues:
- AIre trusts these corporations to keep users' personal information safe - they believe that the personal digital identity belongs to the user.
- AIre creates its own digital identity records that no one can guarantee is true or false - they believe that digital identity should include verifiable claims, also known as credentials, to align them with real-world identities
AIre is an IFA project developed in 2017 in Tokyo, Japan.
AIre wishes to become a data bank. Where users can benefit from providing information and data to companies and businesses. Companies can earn accurate and quality data.
When users can enter their personal information for AIre, they can receive ARX tokens and hold or sell them on the Kucoin exchange.
The information provided by users is strictly protected by data optimization technologies, which will ensure that data will not be stolen or leaked to the outside.
Proprietary APIs provided from AIre will allow companies to integrate applications and data into data banks. In addition, companies can purchase data from AIre.
So what is the role of ARX Token in the AIre ecosystem?
ARCS is a token in the AIre project ecosystem. ARCS denoted as ARX is used to reward users in the ecosystem. This ecosystem is focused on a data bank. This bank will contain user data and provide it to 3rd parties. Third parties will pay to get data to serve their activities. Finally, data providers will receive ARX tokens as a reward.
ARX tokens act as a fuel source to accelerate this ecosystem development. IFA will pay with ARCS to get information. When there is a lot of data, companies will keep an eye on it. To buy data, they have to pay with ARCS. At this point, companies are required to use fiat to buy ARX at exchanges. Then use this token to buy information. Companies can also provide services to users to receive rewards. These services will likely meet the needs of users. Users are willing to use the ARCS to use this service.
Why did ARCS develop like this ?
Perhaps because the project team is mostly people who have many years of experience and work in Japan (a leader in blockchain technology in the world). Most companies or organizations need user data to be able to verify their identity and users also need to have an income to serve the needs of everyday life. So buyers and sellers are mutually beneficial, they will collaborate and grow with each other as well as AIre them as a third party to create a solid trust between the two. It is awesome, isn't it.
Summary
Hopefully, my last post helped you to have an overview of AIre project as well as ARCS Token.
What do you think after reading this article? Please share your opinion in the comment section below the article. I will answer all of your questions about this project
Hello and see you in the following article!
For more information, please visit the link below:
WEBSITE: https://www.arcs-chain.com/
TELEGRAM: https://t.me/ARCS_ARX_EN
MEDIUM: https://medium.com/arcs-arx-official
WHITEPAPER: https://www.arcs-chain.com/whitepaper_en.pdf?v=20191122b
Article designer : SimpleRegister
Profile bitcointalk : https://bitcointalk.org/index.php?action=profile;u=2805325;sa=account
wallet mew : 0x049321C9BAdc89Ff8DD6E16aC6A43d7D6b5C3282