ARCC – ASIA RESERVE CURRENCY COIN
More than a complex issue, corruption is usually the unsaid elephant in the room that is avoided because of the scale and scope of the problem. Yet, without addressing systemic corruption, all other types of economic aid and policy are rendered ineffective for long-term change. Contrary to reports otherwise, the growth in these emerging markets does not translate into greater standards of living for the majority of the urban populations, namely the urban working poor. But by directly addressing the corruption that affects the urban working poor as well as providing an inclusive economic framework for long-term capital gain and entrepreneurial investment, the cycle of wealth disparity and poverty can be broken.
ARCC, Asia Reserve Currency Coin, IBMR.io intends to break the cycle of poverty, corruption and wealth disparity in emerging markets through the decentralized properties of cryptocurrency and blockchain technology. ARCC is a macroeconomic stable coin that aims to become a regional crypto-reserve currency backed by a socio-economic network and currency reserve structure. Built on a decentralized network, ARCC plans to create instant widespread impact through entrepreneurial empowerment in a decentralized financial system where participation truly matters.
Due to the information revolution, a new electronic payment method has been introduced, known as electronic cash, e-bag, e-currency, digital currency, digital money or digital cash. Without a doubt, the purpose of such an instrument is to improve the efficiency of the traditional payment method.
Their main role is to support online e-commerce, enable transactions, reduce their costs, or replace the payment of money and coins in retail. The second reason for the emergence of e-money is the information revolution, which is characterized by the integration of electronic information processing and telecommunication technologies, which reduces the geographical differences by means of which information can be transmitted to the whole world. The information revolution has changed the financial sector, making payment modes more secure and more efficient, giving an additional reason for the emergence of new monetary innovations.
ARCC’s mission is to ensure stable economic development without corruption of more than 630 million residents in Southeast Asia, while applying blockchain technology and associated cryptocurrencies.
ARCC first establish a ‘Social Proof of Work’ network which works as a decentralized information network that aggregates socio-economic data by the users who identify points of urban systemic corruption. Users participate in a wide range of socioeconomic surveys as well as report on points of urban corruption. This information is further verified by other users, and a ompleted outline and scope of systemic urban corruption can be mapped. This exposure is the first step in creating a counter political mandate for governments to ecognize and consider over that of the economic elite. The ‘Social Proof of Work’ network is maintained through the issuance of ‘ARCC’, Asia Reserve Currency Coin as an incentive. ARCC is structured as a macroeconomic tablecoin ‘crypto-reserve currency’ for it to act as a long-term regional ‘micro asset’ as well as a constant incentive for network participation. The objective is to provide socio-economic mobility for the urban working poor in emerging markets by exposing corruption and empowering their entrepreneurial capabilities through financial inclusion.
The ARCC economic matrix itself consists of a large number of different functions and elements, each of which is responsible for the performance of certain duties. This matrix looks as follows:
The Organization of ARCC
- Social Impact Fund Holding Structure
For ARCC, IBMR.io is registered in Singapore as a technology provider and in the process of acquiring all related fund and asset management licenses for the currency reserve and investment management.
- Technical Development Team
The technical development team is based in Taipei, Taiwan. The development team will be for the launch of the APP including the wallet, virtual ID and the Social Proof of Work Network.
- Think Tank and Advisory
ARCC, under IBMR.io, will have a research team focused on decentralized economic monetary structures, innovations, applications and its social impact. This advisory team will be based in New York, NY.
- ARCC Monetary Policy Council
The Monetary Policy Council will run independently from the ARCC executive whereby the ARCC MPC voting will be binding on the reserve for matters of the ARCC token economy.
ARCC Funding Use Cases
- ‘Social Proof of Work’ Annual Allotments of ARCC
The social mining of ARCC per year will be capped at a set number and be taken from an annual pool. The rate of mining will be scaled on a weekly basis based on the frequency and remaining ARCC coins for the pool. Each market will have its own annual pool allotted for mining.
- Airdrops for New Users
Those users who turn 16 years of age will be eligible for an airdrop in the year they turn 16.
- Currency Reserve
IBMR.io will sell into the market if the price of ARCC becomes speculative or above the monetary policy mandate and gain further foreign currency (i.e. non-ARCC). Any annual newly minted ARCC in the Currency Reserve which is not used by the year’s end may be burned if the last 3 month average value of ARCC is less than the annual average value. The decision will be put to a vote by the ARCC Monetary Policy Council.
- Regional Investments
ARCC will be used in order to seed new investments, grants, scholarships and regional competitions as ARCC. If no suitable investments are available for the year that meet the investment criteria, then the excess ARCC will be burned at the end of the year before the new minting.
- Management & Operations
ARCC will be used to cover the cost of management salaries, operations and development as well as performance bonuses. As a social impact project, the model is to make a significant change alongside being a competitive fund. As such, the focus on the management is to find the best and most highly qualified staff in the public and private sectors.
The Advantage of ARCC
ARCC will be able to encourage the poor for their assistance in uploading data to the ARCC data system.
The downloaded data in the ARCC carefully checked on the true cost of cartel rents, but if there is a mismatch, it means the app ARCC and other media is the awareness about the most corrupt person. This method intends to stimulate the public mandate and support the poor class of residents.
ARCC is backed by an economic system which is structured for adoption, value and increased productivity of the region. The fund usage is as follows and has 4 different phases and includes presale, initial token raise, 1st stage continuous mint, and 2nd stage continuous mint. The overall token economy will be governed by the monetary policy mandate and the monetary policy council.
Distribution of tokens in the first stage of the 18-year period:
Distribution of tokens at the second stage of the 22-year period:
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