INTRODUCING AIre -The next-generation data bank

By EbriDan | CryptoRelated | 30 Apr 2020

Abstract

Imagine a singular unified data management ecosystem where individuals and organizations can access data via APIs for effective personal and business use, these data are complete, accurate and not fragmented. For a more successful data analysis incentives will be given to data owners for their granted permission on data utilization. Ladies and gentlemen, there you have it - ALRE.

ALRE manages and stores data for efficient use, it prevents data tampering via the use of smart contracts and blockchain innovations, unlike other data banks with incomplete data suchlike companies that collects data and end up using a little portion thereby giving inaccurate output, Alre will prevent negative feedback on data usage by providing a more accurate data.

This will be accomplished by offering a unified data management network with data rights protection and services that requires the use of data legally, all these services would use the ARC token. Some of the services includes;

• A digital wallet service

Assets and valuables such as artworks, real estate, stocks, etc will be tokenised through the data bank as security tokens.

• A payment system

This will still be done on the wallet, tokens and cryptocurrencies transfer will be possible through payment gateways.

• A new evaluation standard

Platforms compatibility for companies, individuals and businesses to participate using up-to-date data management technology.

• DIDs (Decentralized digital identity)

Alre plans to integrate DIDs via smart contracts to allow users manage a self sovereign ID in a wallet, transfer assets and place details and personal attributes to their digital wallet claiming issuers using their blockchain based verifiable credentials.

• User Incentives and rewards

A user would be rewarded and paid in ARC token for inputting personal information on Alre network and when information is used.

WORKING AND FUNCTIONALITY

AIre next-generation data bank will enable general functionality storing and sharing data using APIs, data gotten from various sources would be linked together creating a more complete data from its fragmented originating source.

Every user identity would be updated, allowing user rightful control and management of all data on just one singular interconnected platform network.

There are three main functions offered by Alre, they include;

• information input

• information storage, and

• information utilization.

✔ Information inputted will be personal data such as age, name, address, gender, address, links to personal blogs, works, social media accounts, location from your smart devices, interface to smart watches, connected accounts and techs with AI integrations, web history, payment histories, etc.

Inputting these information could earn users tokens for their efforts.

✔ Information stored and updated regularly to maintain integrity and accountability of data bank, since its on the blockchain, it can be verified by anyone.

✔ Information utilization is the use of the data via integrated applications, applications interfaces by companies, business, individuals with complete information on who accessed what information, use of the information and what incentives was provided to the data owners as payment.

TOKEN ECONOMY

Arcs token is an ERC-20 token on the Ethereum blockchain, as growth continues a new blockchain would be built to accommodate the full functionality and scalability of Alre.

ARCS is the acceptable means for all transactions on the Alre network, token can be exchanged and traded on exchanges and can be used for premium services like buying data.

CONCLUSIONS AND FINAL THOUGHTS

Several companies take a portion of your data and misuse it, take control of your data, provide necessary information you feel comfortable with and get paid ARCs token as a reward. Companies that need the data will buy it using ARCs token, ARCs would be sent to you and complete transaction details available on the blockchain with complete information on what company requested for your data and for what use, be in charge of your data today.

For more information please visit

WEBSITE: https://www.arcs-chain.com/

Read

WHITEPAPER: https://www.arcs-chain.com/whitepaper_en.pdf?v=20191122b

Follow

TWITTER: https://twitter.com/ARCS_ARX

TELEGRAM: https://t.me/ARCS_ARX_EN

MEDIUM: https://medium.com/arcs-arx-official

AUTHOR DETAILS

AUTHOR'S NAME: EbriDan

TELEGRAM LINK: https://t.me/EbriDan

BTT USERNAME: EbriDan