INTRODUCTION
Data managed by traditional data banks usually end up tampered with, reducing the value of the data and the relative use by the consumers. The truth is that, the trust level in the data industry is very low because there seems to be no real original data anywhere again. The fact that the storage of data is done using the analogue data banks void of protection makes this challenges thrive but now there is a way out of that problem. AIRE, with the use of ARCS is about making a difference with a digital solution backed by the blockchain.
HOW AIRE ACHIEVES THE PREVENTION OF DATA TAMPERING
Alre is a trusted platform based on the blockchain to achieve perfect data storage. Although it uses other data banks which register on it, their activities are controlled by the ARCS token and they are subjected to the terms of the blockchain. For the proper storage of data, it makes use of nodes on the digital network, the nodes make permanent storage possible and prevent illegal falsification of the data stored in them. The blockchain is the only way data can be stored without changing.
THE CONTRIBUTIONS OF HUBS AND DATA BANKS
Normally, the banks accept data of individuals, integrate them to the Alre ecosystem which assures protection. But the hubs exist as a vast data marketplace where sellers and buyers of data interact. Alre makes it possible for this marketplace to exist without the data providers adding data to the data banks. This is how the hub is designed and that promises to enlarge the network. The hub will also increase the value of Alre as many more participants are recorded.
ARCS TOKEN
This token is the official currency for all users, data banks and other stakeholders to function with. The token provides the exchange advantage for users who have it and the value would be determined by the market terms. It is to be held in the wallet provided just like any other ERC-20 token for all the essential financial services.
The token would be distributed in the following manner as users engage with AIRE;
Users will get ARCS as reward when they input their data into the data bank at any point in time.
The ARCS will be made available in many exchanges so as to enable companies that need data to have ARCS to complete their transactions.
The data banks would accept ARCS for every data companies purchase from them. When users data are demanded, users will get more rewards as guided by IFA and the fees it would charge as commission.
CONCLUSION
The token is structured to be distributed about this way just to achieve fairness and transparency among the stakeholders. Fiats currency won't be allowed in this platform as all fiat currencies would be first converted to ARCS for any transactions to be possible. The blockchain would remain the centre of all the activities to the advantage of the data industry as a whole.
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: Wlizzy
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2802457