ARCC…Leverages On Blockchain Technology to Eradicate Corruption Globally
My fellow readers… I will not bore you with unnecessary write-up. Just take some minutes to read through this article as it will proffer solutions to cankerworms that has eaten deep into the fabrics of world with the use of ARCC stablecoins. Corruption is an age long decadence in our society today and its so rampant that there is no country that doesn’t experience any form of corruption. This project aims to fight corruption to a standstill as they will be implementing different policies aimed at nailing corruption.
ABOUT ARCC PROJECT
ARCC is a macroeconomic stablecoin 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.
The International Blockchain Monetary Reserve has developed a model which employs Social Proof of Work which lowers the rate of corruption, creates an efficient entrepreneurial market and a financially inclusive system, thereby facilitating economic development with the Asia Reserve Currency Coin (ARCC) at the core of the system.
SOCIAL PROOF OF WORK
Social Proof of Work is a mechanism for mining ARCC tokens. This mechanism allows users to earn ARCC tokens by filling out surveys, uploading utility data, identifying corruption location points, and validating or providing updates to data. The number of tokens earned by the user depends on the quality of the data uploaded. Variation of data and the amount of data uploaded can be used by anyone from public policy specialists to activist groups so that it can produce reliable data. These data will then attract public media attention and invite the government to have the opportunity to directly deal with these types of corruption by creating supporting infrastructure and fair pricing.
This mechanism not only reduces the level of corruption significantly but can also provide additional income for users. ARCC tokens earned by users can be exchanged on the secondary market or can also be used for investment in the asset network services.
Asset Network Services
In addition to reducing the level of corruption, Social Proof of Work also provides micro asset management services for users. ARCC tokens that can be used for this service are only for tokens that are mined or earned from the Social Proof of Work network, not tokens earned from the secondary market. ARCC tokens obtained through Social Proof of Work will be held on a vesting schedule for 3 years before they can be withdrawn to the secondary exchange market or their personal wallet.
In the micro asset management network, ARCC tokens will be used for health and property insurance as well as private equity investments with limited risk in regional projects that have been invested by the ARCC.
DETAILS OF ARCC TOKEN
Token symbol: ARCC
Softcap: 5M USD
Hardcap: 80M USD
Total supply: total amount raised during the private sale and then doubled
Token ARCC will be on a continuous token minting model for a period of 40 years. There are five use cases that require an annual new mint supply of ARCC, including:
- ARCC annual allotment: ARCC mining per year will be limited to the amount determined and taken from the annual collection. The mining rate will be scaled every week based on the frequency and ARCC coins left for the collection.
2. Airdrops for new users: airdrop for users who turn 16 years old.
3. Currency reserves
4. Regional investment: the ARCC will be used to seed new investments, grants, scholarships, and regional competitions. And if no suitable investment, the excess ARCC will be burned.
5. Management and operations: the ARCC will be used to cover management salary costs, operations and development, and performance bonuses.
For Further Details Please Follow The Links Below:
Website : https://ibmr.io/
Bitcointalk Thread : https://bitcointalk.org/index.php?topic=5104576.0
Whitepaper : https://ibmr.io/whitepaper/
Twitter : https://twitter.com/ARCC_IBMR
BTT Profile link: https://bitcointalk.org/index.php?action=profile;u=2434087
Eth Add: 0xD832130C93F9dE8b0aC0Fcbd0d3e8bA350B9f509