ARCC Social Proof of Work Network & App:

Francis Odinigwe

ARCC OVERVIEW:

Introduction:

ARCC itself will take a role as a ‘regional crypto-reserve currency’. Emerging markets all face a high degree of volatility which affects currency stability, which in turn, affects overall national investment and market sentiment. Yet on a regional level, regions such as South East Asia, have exhibited consistent growth. ARCC will: (i) align its underlying value to this regional economic growth through investment in regional infrastructure and industrial projects, (ii) hold a fiat and crypto currency reserve to give a base value for the ARCC, (iii) be directly distributed to the individuals of the region, and (iv) via Social Proof of Work create the first decentralized regional economic development network.

Bitcoin is the technological achievement of the decentralization of peer-to-peer trustless electronic cash, which then lead to the economic achievement of the issuance of a new global non-fiat currency. While ICOs through Ethereum have created hundreds of new Cryptocurrencies, few progress past the standard that Bitcoin has achieved. The next level in achievement through Ethereum and ICO’s should be found in Cryptocurrencies which have the objective to further a new global decentralized economic paradigm. We propose to explore the impact of cryptocurrencies in the area of ‘economic development’. Economic development is the area of bringing ‘third world’ developing countries out of poverty to the standards and stability of the ‘first world’. Currently, there is no clear economic development model which provides distributed development that improves the lives of all individuals over than of just the standing economic elite, i.e. major corporations or societal elites who are the main beneficiaries of increased GDP of a nation.

Incorporating two major innovations of Bitcoin of decentralization and incentives, the International Blockchain Monetary Reserve, IBMR, seeks to create a new economic participation model through a ‘Social Proof of Work’. In emerging markets, individuals do not have the opportunity to engage in asset accumulation or realize a long term economic outlook due to the instabilities of their own markets and the lack of infrastructure which makes entrepreneurship limited in scope and scale. The ethos of Blockchain technology and Cryptocurrencies is to create trustless financial structures that create distributed and unrestricted capital. Nowhere is this more of a necessary than for emerging markets to break out of the structured oppression of powerlessness and poverty, and yet the capital cost of mining through hardware and electricity makes this an unrealistic undertaking for 3rd world participants.

ARCC MISSION: (ASIA RESERVE CURRENCY COIN).

The International Blockchain Monetary Reserve, IBMR.io, is a social impact economic development reserve and advisory established to promote distributed inclusive economic development for the urban working poor in corrupt failing emerging markets through the issuance of regional ‘crypto-reserve currencies’ supported by corresponding decentralized economic structures, underlying assets and regional market alignment.

Social Proof of Work’ is the basis for IBMR.io Economic development model which creates an inclusive wealth distribution network that fosters radical social transparency for a corrupt-free entrepreneurial environment that allows for the optimal deployment of a macroeconomic stable coin ‘crypto-reserve currency’ as a ‘micro asset’ for production. IBMR.io is registered in Singapore, and its first focus of development is Southeast Asia. Through the issuance and support of 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 ECONOMIC DEVELOPMENT:

1. Debt-Free Micro Asset:

ARCC is structured as a macroeconomic stable coin which will act as a ‘debt-free micro asset’ in a new decentralized inclusive regional economy for investment by the urban working poor into scalable and sustainable entrepreneurial ventures.

2. Social Proof of Work:

Allows the urban working poor to earn free ARCC, not through hardware mining, but through participation in socio-economic surveys, exposing the systemic corruption around them. This is an act of socio-economic empowerment through financial inclusion.

3. Radical Social Transparency:

Corrupt failing emerging markets suffer from systemic corruption and combating this requires a collective, open, verified and transparent account (Social Proof of Work Network) as a counter force to clearly identify and expose the corruption. The aggregation, verification and public awareness of this data will start the process for an increased standard of living for the urban working poor by establishing their own political mandate.

ARCC APP DEVELOPMENT:

The ARCC APP platform is composed of 3 major areas: Regional ID, Survey participation and Social Proof of Work network. The technical mandate will be to put security and scaling as the top two priorities. Security in this case also means giving users a trustless environment for participation, as such, our focus is to use existing open source Blockchain developments as much as possible. In terms of scaling issues, like many exchanges, the wallet function and internal transactions will be based on current centralized Fintech development. But as there is further progress in scaling, the IBMR.io ARCC network will evolve to a fully decentralized system.

ARCC TOKEN INFORMATION:

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.

ARCC FUNDING USE CASES:

a. 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.

b. Airdrops for New Users:

Those users who turn 16 years of age will be eligible for an airdrop in the year they turn 16

c. 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.

d. 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.

e. 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.

TEAM: