Home Bitcoin Asia Reserve Currency Coin (ARCC) - The project crushed corruption

Asia Reserve Currency Coin (ARCC) - The project crushed corruption

Asia Reserve Currency Coin (ARCC) - This is a project seeking to change the lives of over 630 million people in Southeast Asia which has only become possible because of the technological innovation of cryptocurrencies that stands upon the shoulders of the internet, smartphones and the international community.

This is the first time in modern human history that something with a world-changing socio-economic scope and impact like this is possible. Bitcoin is the proof of concept of a decentralized financial system, and ARCC will be the ultimate proof of concept of cryptocurrencies as a solution for global financial inclusion and economic development.

It is just a matter of being courageous enough and human enough to realize that this is a worthy cause. Together, this is our contribution to the human spirit.

ARCC is structured as a macroeconomic stablecoin 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.

The act of ‘Social Proof of Work’ is an act of financial inclusion and distribution by allowing 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.

The ‘Social Proof of Work’ network is maintained through the issuance of ‘ARCC’, Asia Reserve Currency Coin, as an incentive. 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 ‘Social Proof of Work’ network 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 socio-economic surveys as well as report on points of urban corruption. This information is further verified by other users and a completed outline and scope of systemic urban corruption can be mapped.

For those of you who can see that the work and promise of Bitcoin has just started, we ask you to join with us in changing this part of the world by supporting ARCC as you did with Bitcoin. We are asking you to be the light in darkness, but like those early Bitcoin adopters, the system is created to incentivize all, especially those who are brave enough to share in this vision first. This project has a 40-year economic road map and a team with the experience and dedication to get the job done. Together this is our contribution to the human spirit.

As a decentralized economic network, each individual will be incentivized to participate, from the users in these developing nations to those international users in the developing world. We are not looking to disrupt anything, rather we are looking to empower the people who for too long have been the unseen, unrepresented and exploited part of humanity and let them decide their own futures.

Risk Analysis

ARCC’s model would fall under aspects of case study 1 and case study 4.

Case Study 1

Analysis:
  • ARCC intends to raise funds to fund the platform.
  • ARCC will not have any other functions or rights attached to it.
  • Users will not have any other functions or rights attached to it.
  • ARCC earned on the platform will have rights to the platform usage, but ARCC bought on secondary exchanges will not.

Remarks:
  • ARCC Social Proof of Work network model would fall under case one, and ARCC as a token used for access and mining would not be subject under SFA or the FAA; this may extend to the Asset Management Network as the tokens are earned for free on the platform, and only the free tokens are eligible to be used in the Asset Management services.
  • ARCC as a token functions as a pure cryptocurrency play, which by the guidance of this case study, is not subject to any requirement under the SFA or FAA.
  • However, ARCC’s Currency Reserve, would fall under Case 4 and be subject to requirements. 

Case Study 4

Analysis:
  • IBMR.io will be pooling the funds raised from the offer and use the funds to invest in a portfolio of shares, start-ups and other regional infrastructural projects.
  • IBMR.io will manage the portfolio of shares.
  • ARCC holders will not have any power related to the day-to-day management of the portfolio of investments/shares.
  • Profits will not be pooled and distributed as payment to holders of ARCC.

Remarks:
  • In light of being included in the exemption of Part XIII of the SFA, ARCC will not be offered for sale in Singapore and only be made available to persons based overseas (i.e. not in or a resident/citizen of Singapore).
  • While profits will not be pooled and distributed to holders of ARCC, a case can be made that holders are getting some type of financial profit from the appreciation of the coins, especially in the case of any burning of coins by ARCC. In this regard, we would err on the side that the profit characteristic has some consideration for application, as such, case 4 and its requirements would be enacted in full and treated as if case 4 was fully applicable to IBMR.io.
  • IBMR.io will apply for all required capital market service licenses in order to carry out business in fund management.
  • No financial advisory service will be provided by IBMR.io, as such the FAA will not apply in relation to the offer of ARCC.


ARCC Monetary Policy Mandate

The following are the three major phases and mandates to achieve value for ARCC as the engine and impetus for decentralized economic development system.

Monetary Policy Objective Guidelines Phase 1: "Store of Value"
  • Total secondary market supply will be kept at a minimum, including initial supply of coins available for secondary market trading.
  • ARCC will be used for distribution on a locked vesting schedule (adoption), and regional investments by ARCC for inflow to the currency reserve (long term productivity alignment).
  • This phase would be a minimum of 8 years.

Monetary Policy Objective Guidelines Phase 2: "Debt-Free Micro Asset"
  • Total secondary market supply will be increased to allow for sufficient liquidity for conversion of ARCC to respective regional fiat currencies for entrepreneurial investment purposes by ARCC ‘Social Proof of Work’ holders.
  • At this point we would want to maximize the value of ARCC while also stabilizing its maximum value. If ARCC is still seen as a ‘store of value’ asset class that exhibits strong volatility, then it will not be used as its intended purpose as a ‘debt-free micro asset’ capital for entrepreneurial investment.
  • This would be a minimum of a 10-year period

Monetary Policy Objective Guidelines Phase 3: "Regional Crypto-Reserve Transactional Stablecoin"
  • Total secondary market supply will be increased or decreased to peg ARCC to a nominal value that allows for it to be used in daily commerce and transactions.
  • This increase will be done via the ‘coin split’ mechanism.
  • The continuous mint will continue but it will be decreased to 5% of total supply.
  • The continuous mint will run for a period of 22 additional years at which time the total supply will be capped at that point.
  • Post 40-year mark, the ‘coin split’ mechanism will be reserved only to be used if the currency reserve is unable to maintain the peg due to upward price pressure due to a lack of ARCC in its reserve. The reserve will always retain the ability to burn held ARCC. 


Reference

Now that's the explanation for all the information we summarize about the "Asia Reserve Currency Coin (ARCC)" project, hopefully this time you can understand and give useful advice in the crypto world.

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