The new token ARCS will create a platform for visualizing and tokenizing the value held by people. Toward a society where all people can manage and hold sovereignty over their data.
TOKYO–(Antara/BUSINESS WIRE)– IFA CO., LTD. (CEO: Masashi Mizukura) has developed the token ARCS (ticker symbol ARX) based on blockchain technology. The product platform AIre, which uses ARCS, tokenizes the values held by people to enable exchange, monetary conversion, requests, purchases, and more.
Tokenize the value held by people, and give all people sovereignty over their data
IFA, a provider of products and services using blockchain technology, has developed ARCS, a token based on new blockchain*1 technology. The product platform AIre, provided through the use of ARCS, visualizes and tokenizes*2 the various values held by people.
*1 Blockchain is a technology for recording the transaction histories of decentralized cryptocurrencies. There is no specified administrator or issuer; transaction histories are monitored and managed by users, making fraudulent transactions or falsification of data difficult.
*2 Tokens issued through the use of blockchain technology are a type of cryptocurrency asset allowing transactions on the Internet. It is thought that tokens will be usable in the future as consideration for products and services, like stocks or rewards cards. Anyone, whether an individual or a company, can easily issue tokens, but they can only be used within the scope of the service of the issuing individual or company.
In the past, it has been difficult to clarify the values, ideas, and other intangibles held by individuals, creating a tendency toward structures that are advantageous to companies. Tokenizing such values of individuals will enable free exchange, monetary conversion, requests, purchases, and more, with all persons able to hold sovereignty over their data.
In the platform AIre, ARCS will be used mainly for the following purposes.
1. Incentives when users enter information into AIre
2. Settlement method when companies use AIre
3. Rewards for applicable users when a company acquires user information from AIre
4. Settlement method for services developed and operated by companies using user information obtained from AIre
AIre accumulates information from users who make use of various services and companies, such as signing up for a credit card or becoming a member at a store. This accumulated data takes on great value for both the company and the users. Companies can use the abundant information obtained from AIre to develop compelling services, and ARCS can be used as a settlement method for the services. In the future, incentives (cryptocurrencies, tokens) will be given to users as consideration for providing information.
We are also planning to issue a stablecoin (a cryptocurrency with a stable price) secured by ARCS. The price of ARCS, which will be traded on cryptocurrency exchanges, will vary according to supply and demand. For this reason, companies that conduct settlement with ARCS in order to use AIre will be subject to inconvenience due to fluctuations in the price of data at the time of settlement. Issuing a stablecoin and switching the settlement currency within AIre to the stablecoin can solve this inconvenience.
Preparations are currently underway for listing on KuCoin(https://www.kucoin.com/), the cryptocurrency exchange for ARCS, at 6PM(UTC＋8) on December 3, 2019. Trading will initially take place as a currency pair with USDT (Tether), under the ticker symbol “ARX.”
ARCS(ARX) site https://www.arcs-chain.com/
AIre VOICE (AIre 1st Product) Official Page https://en.aire-voice.com/
About IFA CO., LTD.
Company Name: IFA CO., LTD.
Representative: Masashi Mizukura, CEO
Location: Shinjuku Sumitomo Building 15F, Nishi Shinjuku 2-6-1, Shinjuku-ku, Tokyo
Established: October 1st, 2014
Business: Internet business
Capital: ¥543,508,080 (including legal capital surplus)
Overview: With the next-generation banking platform AIre, developed and operated by IFA CO., LTD., we are aiming for a world in which all people have sovereignty over their own data.
This will not be a traditional centralized asset or information management society, but rather a decentralized society in which new standards created by users become the norm. Toward that end, we will be using distributed ledger technology (DLT).
Our policy is to deepen partnerships with companies and regions whether in Japan or overseas, through technological approaches that make complex technology more familiar. We envision doing so under a wide variety of partnerships.
We will develop the AIre project to achieve a better future.
IFA CO., LTD. URL: https://en.ifa-aire.co.jp/
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Contact information for inquiries
IFA CO., LTD., IR Group
Source: IFA CO., LTD.