AIre is an ecosystem that is centered around a data bank and its users to a blockchain network
About AIre
AIre is an ecosystem centered around data banks and their users.It provides functionality for data banks so that they can operate effectively and transact with businesses and individuals.This section outlines AIre, its functionality, and its business model. It also includes a description of measures to prevent data tampering through using blockchain technology and interconnected data bank hubs.
VISION
The philosophy of the AIre project is a desire to improve well-being for people around the world, not only physically, but also mentally and socially. AIre’ s vision is to empower individuals through the rights to their data and the value their data holds. The ecosystem will include participants of many kinds, ranging from individuals to large data corporations. Participants will be able to transact with each other, protected by the “rule of code” enforced with smart contracts deployed onto a blockchain network.
This enables businesses to buy and sell data while being compliant with personal data regulations, ultimately improving their data analytics capabilities and deriving meaningful insights. Individuals who provide information to data banks will be protected by a high level of privacy and receive rewards based on inputting data and it being used. Buying and selling data is increasingly becoming a major part of our lives, Aire’ s proposed ecosystem will make buying and selling data an integrated part of our lives whilst ensuring privacy and fair distribution of data trade.
Solution
AIre solves the problem of inefficient data use. Currently, each company only stores and uses a portion of the information its users leave online. Therefore, a complete and accurate profile of users cannot be collected. Users generally have negative feedback on the current use of their data because the information and/or recommendations they receive as a result of it being used are often inaccurate. To solve these issues, AIre enables unified management of user data which allows for data to be used with consent and data rights protected. We believe that this mechanism can provide a wide range of application services for users. We refer to the interface which can offer these services as a “next-generation bank” .
The next generation bank is a comprehensive digital wallet necessary for the coming era of digital transformation. A single service provider will not provide all services and each service provider will provide their service as part of a next-generation bank using a single token. The next-generation bank is a digital wallet which handles these services. AIre tokenizes valuables as security tokens through the data bank, such as stocks, real estate, art, etc., and makes payments/transfers using cryptocurrencies. Further details are described in “future development” section. AIre utilizes this data to create new evaluation standards. In addition to ensuring compatibility with other participant companies on the AIre platform, AIre will take the initiative in handling new technologies and concepts regarding user data management to become a true “user sovereign” platform.
Business model
This is where AIre creates revenue. Since token holders can participate in a variety of ways, We provide a mechanism for the ecosystem to grow naturally. In AIre, payments are made with tokens. For details, see the chapter on the token economy.
Future development
ARCS is the native token of AIre. It can be held in wallets that support the ERC-20 token standard and be traded on exchanges which list ARCS. It will fluctuate according to market conditions.
ARCS is mainly used for the following purposes:
Decentralized digital identities (DIDs)
Blockchain wallets can manage cryptocurrencies such as ARCS, which allow users to transfer and receive digital assets. The rise of digital identity has sparked new standards and applications e.g. decentralized identifiers (DIDs) from the W3C. With the notion of identity, it will be possible to manage a self-sovereign identity in a wallet as well. AIre plans to implement DIDs as an integrated part of the blockchain so that users can assign attributes to their digital identity and claim verifiable credentials from blockchain-powered claim issuers.
Crypto assets
AIre will develop a wallet specifically for ARCS, payment tokens, and associated services. This product will enable users to transact with tokens in the ecosystem and use tokens for meaningful purposes instead of holding them purely for speculation. This is a step towards the establishment of a next-generation bank. The core team will allocate significant resources for this because it is important to develop a UI/UX which is domain-specific and more advanced than existing crypto wallets. For example, this would include a UX which enables asset exchange within messages for user convenience.
Personal information as digital assets
Personal information is a different asset class to cryptocurrencies. Implementation of DID standards can facilitate personal data linked to an ID and build comprehensive identity profiles. Digital IDs with blockchain solutions give users self-sovereignty over their data and make it easier to prove one’s identity and authorize others to access it.
Financial assets
It is assumed that the bank API will be used in cooperation with existing banks. It will be possible to integrate financial data of existing banks and personal information with AIre to provide more sound and fair services. As a precedent, banks in the Netherlands (ING), Germany (Fidor Bank), the United Kingdom (Barclays), Spain (BBVA), and more, have already released bank APIs and encouraged startups in other industries to participate in the financial industry. As banks begin to evolve and the question of how banks should be run is faced, from experience we see the value in them working with companies in other industries to make finance more accessible to others.
The push to release banking APIs has had a major impact on the movement in Europe. In Japan, a banking law amendment made in May 2017 included an obligation to release APIs. Although it is not yet obligatory worldwide, we expect that open APIs will become mainstream in the future. Coexistence with existing banks will ensure a high level of data and risk management. Also, it will help identify the behavioral patterns and trends of their users with other services, and solve the problem of limited credit information, which is one of the core reasons why startups and young people find it difficult to obtain loans from banks.
A new credit standard
“Credit” in the financial context has so far been based solely on simple objective data such as nationality, annual income, and employment status. For this reason, trust has heavily relied on the condition in which people are born into and this has never been corrected. Also, the possibilities for a person with a low credit score to win higher credit are limited. In other words: once credit is damaged, it is difficult to recover. Therefore, by using all kinds of data accumulated in AIre's data bank, AIre believes that this can build a new credit criterion which has never existed before. In these new criteria, in addition to objective data of the individual, their future potential can be evaluated by also taking into account subjective data such as feelings, enthusiasm, and other emotions. As a result, it is possible to reach out to users who have not been able to benefit from financial services until now. In combination with the aforementioned DID solution, a variety of financial services can be provided at once.
Asset tokenization
AIre aims to visualize the value of individuals through tokens. As assets are tokenized, different asset types can be exchanged in real-time. There are many types of assets, such as real estate, art, and securities, but there is currently no platform that can handle them with a single interface. We believe that by tokenizing various forms of assets, the assets can be used as a form of “money”, and economic activities can be further encouraged. For example, you could get insurance by tokenizing a car you own and staking a part of it, or sell art by tokenizing it while it remains on display. Also, since one large asset can be subdivided and owned by multiple people, it is possible to lower the barrier to investment and encourage larger markets.
Information industry market
As the value of personal data increases, the markets targeted by information banks are growing year by year. AIre acquires various types of personal data, adds value to the data, and returns it to the user. Looking at a specific use case, this can be applied to the marketing and advertising sectors. The table below shows the average information value per year for the real estate, lifestyle, finance, health, and beauty sectors. For example, if the unit price is 30 to 50 million JPY for buying and selling a detached house or condominium, when a sale is established by providing the customer status, it is common to pay an information provider fee of 300,000 to 500,000 JPY (1% of the sale price) as a contingent fee.
If the average purchase cycle of a detached house or apartment is estimated to be around 30 years, the annual information provision fee can be calculated to be between 10,000 and 16,000 JPY. Similarly, if you calculate it for life, finance, health, and beauty, and calculate the total value of the information provision fee per year, it will be between 41,000 and 95,000 JPY. In other words, here it can be assumed that the value of user information is worth 41,000 to 95,000 JPY per year. Since what is mentioned in this table is part of the market, it is considered to be worth at least 100,000 JPY.
Token economy
The AIre token economy is centered around the ARCS token. Below is a description of the token, its economy, and its functionality.
ARCS token
ARCS is the native token of AIre. It can be held in wallets that support the ERC-20 token standard and be traded on exchanges which list ARCS. It will fluctuate according to market conditions. ARCS is mainly used for the following purposes:
Incentives for users
Many internet users feel uncomfortable when providing personal data to services due to the recent public knowledge of large corporations misusing personal data. AIre incentivizes users for the information they provide, which is expected to lower resistance to storing personal data.
Rights to use the AIre service
The token economy is designed to expand the ecosystem organically since participants will receive unique benefits from using the ARCS token as opposed to fiat currencies. The core value of AIre is the data which the data banks hold and ARCS is the global network currency which data buyers can use to buy data with.
Token flow
Below is a demonstration of the ARCS token flow:
- Users input data into the AIre data bank and receive ARCS as a reward;
2. Companies who wish to acquire data from the data bank will first buy ARCS from an exchange;3. Companies can then buy data from a data bank with ARCS. At the same time, users will be rewarded for their data and IFA will collect a commission fee for delivering the service;4. Companies can utilize the data for their services and offer it to AIre users in return for ARCS.
ARCS token details
Issuer: IFA Co., Ltd.
Token Name: ARCS
Token Symbol: ARX
Total issues: 20,000,000,000 (20 Billion)
Decimal places: 18
Blockchain Platform: Ethereum
Token Standard: ERC20
Contract address : 0x20b1a8a9ca1c7302b7f774266c491c7b11622779
Token distribution
The 20 billion ARCS tokens are planned to be distributed as follows:
50 %: For third-party organizations(*1) (with lock-up)
12.5 % : Free distribution to AIre startup supporters
2.5 %: Incentives for core members
2.5 %: Incentives for partners
20 %: IFA allocation for development and operations
12.5 % : Reserve
ROAD MAP
July 2017
AIre concept bornResearch begins
April 2018
AIre project starts
October 2018
Satellite office established in Crypto Valley, Zug, Switzerland
March 2019
AIre VOICE opensBusiness alliance with Obyte announced
June 2019
AIre VOICE wins at WBF 2019 Innovative Media Top 10
September 2019
AIre concept announced for the first time at FINSUMParticipation in Blockchain Live 2019 in London, UKParticipation in Korea Blockchain Week, Seoul, Korea
October 2019
Participation in Delta Summit, MaltaParticipation in Blockchain Life, Moscow, Russia
November 2019
White paper released
December 2019
Scheduled exchange listing
April 2020
AIre beta version scheduled for release
October 2020
ARCS consortium announcement
Throughout 2020
Original chain announcements
MEMBER
Masashi Mizukura
- Chief Executive Officer
Kunihiro Katsuragi
- Chief Operating Officer
Hiroshi Mizukura
- Chief Financial Officer
Yoshikazu Abe
- Chief Risk Officer
Ryohei Osaka
- Chief Marketing Officer
Yoshinobu Shijo
- Chief Technology Officer
For more details about ARCS Project:
Website: https://www.arcs-chain.com/
Facebook: https://www.facebook.com/homtoken/
Twitter: https://twitter.com/ARCS_ARX
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
Username : Ozie94
Profile : https://bitcointalk.org/index.php?action=profile;u=2103066
ETH : 0xDa2F65ea0ED1948576694e44b54637ebeCA22576