ARCS- UTILIZING THE EFFICIENCY OF BLOCKCHAIN TECHNOLOGY TO OFFER A DECENTRALIZED ECOSYSTEM WHERE INDIVIDUALS ARE EMPOWERED THROUGH THE RIGHTS TO THEIR DATA AND ITS VALUE

It’s a known fact that the world has gone digital, technology has advanced so much that human activities and transactions across the world are now connected to the internet. The use of the internet has facilitated the easy collection of personal data and has ultimately made it easier to track data. With this development, personal data has become scattered across various services and in most cases, rests in different databases without the consent of the individuals. The insecurity surrounding personal data is getting real, and individuals now get hesitant to divulge their data.

The need to secure personal data, and to ensure that the privacy of personal data, blocking out all forms of the non-consensual use of personal data has given rise to ALRE- an ecosystem deployed on the blockchain network, promoting the privacy of personal data and the fair distribution of data trade.

ALRE: PUTTING AN END TO THE NONCONSENSUAL USE OF INDIVIDUAL’S PERSONAL DATA BY LARGE CORPORATIONS.

Blockchain technology has been highly accepted since its introduction thanks to its credibility and transparency in utilizing an incorruptible ledger that securely stores data in a fully decentralized environment, which allows people to execute on-chain transactions, eschewing the involvements of intermediaries. Alre utilizes the efficiency of blockchain technology to offer a decentralized ecosystem that empowers individuals through the rights to their data and its value. Alre ecosystem gives users access to decentralized transactions, in a protected smart contract, allowing corporations and users to trade data while they adhere to personal data regulations.

It is focused on data banks and their users, ensures data privacy and fair distribution of data trade, and enables users’ monetization of their data since they can earn massive rewards by simply providing data banks.

CORE FUNCTIONALITIES IN THE ALRE ECOSYSTEM

Information Inputs: With this functionality, users can input their personal information including gender, home address, social media links, and so on. By doing so, they earn token rewards depending on the information they share and how frequently their data is used. AIre utilizes advanced technologies such as IoT (Internet Of Things) and A. I (Artificial Intelligence), having a high tolerance for huge throughput and complex data.

Information Storage: Blockchain is highly transparent, with every transaction open for audit by all of its users. Alre will offer such functionality by storing information in the data bank system. The system will initiate auto calculation of hash values for the data and is stored on a blockchain, open for everyone to verify if it has been tampered with or not.

Information Utilizations: APIs owned by Alre allow corporations to integrate their businesses and applications with data banks or better still offer their data bank services. Alre will also utilize technologies that will handle various business scenarios. It also tracks which users have been given access to data, which data they can access, and the incentives that such data providers have been given.

TOKENOMICS

The native token of AIre is known as ARCS (ARX) which is compatible with ERC20 wallets. ARCS has the following usage:

  • The non-consensual use of personal data by large corporations has led internet users to resist giving out their personal data. However, Alre will offer ARCS as incentivizes users for the information they provide.
  • ARCS is the accepted currency around the world that data buyers can use to purchase data. Participants will earn huge benefits from using the ARCS token which will, in turn, grow the ecosystem organically.

Token Specifications

  • Token name: ARCS
  • Token symbol ARX
  • Total minted tokens 400,000,000 (400 million)
  • Issuing schedule Issue all tokens at once
  • Number of decimals 18
  • Blockchain platform: Ethereum
  • Token standard: ERC20
  • Contract address: 0x7d8DafF6d70CEAd12c6f077048552Cf89130A2B1v

CONCLUSION

AIre project is driven by the desire to improve the physical, mental, and social wellbeing of people around the world. It aims to empower individuals through the rights to their data and its value. Its ecosystem will consist of various participants including individuals and large data corporations in a decentralized environment where participants will be able to execute transactions with each other, under regulations enforced with smart contracts built on a blockchain network. AIre resolves the issue of inefficient data use, by enabling unified management of user data which means that data must be used with consent and data rights protected.

For more information, please click on the following helpful links

Helpful Links

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Personal information

Proof of Authentication: https://bitcointalk.org/index.php?topic=5366613.msg58421791#msg58421791

Forum Username: Incarts

Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2022078

Telegram Username: @Incarts

Participated Campaigns: Article

BSC wallet address: 0x92C1d2C625e41730505622Fd7ACC92309cbc8169

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